The bubble tea market is expected to show steady growth between 2020 and 2030. Despite a temporary phase of sluggish returns triggered by the unprecedented COVID-19 outbreak, Future Market Insights (FMI) hints at potential recovery across major cities no sooner does the coronavirus passes.
Before the pandemic crisis, coffee shops and cafes comprised one of the most fast growing segments in the food service sector, naturally giving impetus to the bubble tea market. Bubble tea, also popular around the world as boba tea or creamy bubble milk tea includes familiar basics of tea as the key ingredient besides chewy tapioca balls from which it earns the name pearl tea.
Based on type the bubble tea market covers white, green, and oolong tea citing the higher preference for plant-based ingredients among consumers. Impelled by their mindful approach towards health and wellness, producers are launching innovative flavors to offer low calorie bubble tea. This as per FMI will be a key game-changer enabling growth in the market.
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Bubble tea market offers an immense scope for differentiation. This is not only attracting smaller players but some of the leading food chains are introducing various flavors in bubble tea to stay up-to-date as per consumer preferences. Capacity expansions undertaken by these behemoths will invariably give tailwinds to bubble tea sales.
Key Takeaways from FMI’s Bubble Tea Market Report
- The bubble tea market shall surpass US$ 2 Bn by 2020-end
- Black tea segment shall hold dominance, attributed to the multifarious health benefits offered by it
- However, green tea is acquiring major traction due to the presence of cancer-fighting antioxidants
- Rising preference for exotic flavors is catapulting the sales of flavored bubble tea across all regions
- Asia to remain the vanguard of the global bubble tea market
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Bubble Tea Market– Key Trends
- Despite intense competition, the bubble tea market offers scope for differentiation, attributed to consumers’ dynamic taste preferences
- Affordable pricing is attracting a larger customer base, particularly in emerging economies
- Manipulation of flavor, sugar & preservatives compositions has helped manufacturers penetrate the market more effectively
- However, availability of substitute beverages such as coffee shall impede growth prospects
Bubble Tea Market– Region-wise Analysis
- East Asia is the dominant bubble tea market, with Taiwan emerging as the main powerhouse
- Thailand is the 2nd most lucrative market, with an average consumption of 6 cups per person as of 2019
- Europe to acquire major momentum, with the U.K, Italy & Germany pivoting most of the demand
Key Segment
Product
- Milk Tea
- Black Tea
- Green Tea
- Oolong Tea
- Earl Grey Tea
Flavor
- Flavored
- Jasmine
- Nut-flavored
- Berries
- Chocolate
- Fruit
- Honey
- Ginger
- Caramel
- Vanilla
- Unflavored
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- MEA
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Table Of Content
1. Global Bubble Tea Market – Executive Summary
2. Market Introduction
2.1. Market Definition
2.2. Market Taxonomy
3. Market Dynamics
3.1. Global Food & Beverage Sector Outlook
3.2. Macro-economic Factors
3.3. Drivers
4. Global Bubble Tea Market Pricing Analysis
5. Global Supply/Demand Analysis, by Region
6. Global Bubble Tea Market Analysis and Forecast, By Product Type