Bubble Tea 2023 Industry - Technologies, Applications, Verticals, Strategies & Forecast 2030

 Bubble Tea Industry Overview

The global bubble tea market size was valued at USD 2.75 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030.

Increasing the intake of tea and coffee as nootropic drinks among working individuals and students is a major factor in the market growth. Moreover, the low-calorie contents and zero fat of such beverages are propelling thedemand further. The growing popularity of varioustypes of hot beverages is also likely to drive the demand for bubble tea. In addition, health experts suggest that balanced consumption of such beverages improves concentration and brain function. Bubble tea is gaining popularity owing to its different tastes and availability of various flavors, such as fruits, coffee, chocolate, and simple classic.

Gather more insights about the market drivers, restrains and growth of the Bubble Tea Market

The bubble tea beverages are prepared along with ice, flavored syrups, and sugar. Growing preference for tea, coffee, and other flavored beverages more than carbonated drinks is expected to boost product demand during the forecast period. The market experienced slow growth on account of the COVID-19 pandemic, which caused continuous lockdowns in major cities across the globe. There was a shortage in raw material supply. The production of jelly-like pearls made of tapioca was stopped during the pandemic, which had a negative impacton the market growth. However, the popularity of bubble tea has increased over the decades and the industry is expected to expand rapidly post-pandemic.

However, the raw ingredients used for preparing bubble tea are made with sugars, which can be dangerous if consumed in excessive amounts. This is the major factor limiting market growth. In addition, the amount of sugar consumed along with bubble tea can pose varioushealth risks. The consumption of high levels of sugar can lead to serious health complications like obesity, heart disease, cognitive decline, Non-Alcoholic Fatty Liver Disease (NAFLD), and also some forms of cancer. These factors are restraining the market growth. The rising popularity of bubble tea trends among the young generation is creating new opportunities for the key players to offer variations of the beverage. Key players can offer different flavors of boba tea, which can help them capture a higher market share as colorful bubbles and flavored beverages are widely popular.

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Global Bubble Tea Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segment from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global bubble tea market report on the basis of type, flavor, and region:

Type Outlook (Revenue, USD Million, 2017 - 2030)

·         Black Tea

·         Green Tea

·         Oolong Tea

·         White Tea

Flavor Outlook (Revenue, USD Million, 2017 - 2030)

·         Fruit

·         Taro

·         Strawberry

·         Classic

·         Coffee

·         Other

Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         North America

o    US

o    Canada

o    Mexico

·         Europe

o    UK

o    Germany

o    France

o    Italy

o    Spain

·         Asia Pacific

o    China

o    India

o    Japan

o    Australia

o    Taiwan

·         Central & South America

o    Brazil

·         Middle East & Africa

o    South Africa

Key Companies & Market Share Insights

Major companies are focusing on expanding their global presence. In addition, key players are launching new varieties of flavors and tea options to gain a competitive advantage. For instance,

In June 2019, Malaysia-based ‘Secret Recipe’, a famous restaurant chain, launched new bubble tea flavors including boba signature fruit tea, boba brown sugar milk tea, and boba kopi-C

In April 2022, BUBLUV, Inc., a New York-based start-up, announced the release of its much-awaited BUBLUV Bubble Tea, the first Ready-To-Drink (RTD) healthier boba substitute with less than 50 calories per bottle and no added sugar or chemical components.

Some of the prominent players in the global bubble tea market include:

·         Bobabox Ltd.

·         Bubble Tea House Company

·         Fokus, Inc.

·         Gong Cha

·         ChaTime

·         Lollicup USA, Inc.

·         Bubble Tea Supply, Inc.

·         T Bun International

·         Ten Ren’s Tea Time

·         Troika JC

Order a free sample PDF of the Bubble Tea Market Intelligence Study, published by Grand View Research.