Unilever (Lipton), Associated British Foods (Twinings) and Tata Global Beverages (Tetley) are globally the most important players by revenue. The mean age of study participants was 24 years and the age range was 18 or older to younger than 30 years. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving bubble tea across the country. Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. 4. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. But did you know that there are six different types of bubble tea? Bubble tea truly is an international drink! Table I : Prevalence1 of Bubble Tea Consumption among Students in University of Cyberjaya according to Sociodemographic Descriptions Sociodemographic description Bubble tea consumption Consume, n (%) Do not consume, n (%) Total, n (%) . For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. Choice Reviews Reveal Australian Tea Trends | World Tea News The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. Bubble teas distinct flavor, easy product availability, and numerous varieties offered will help the market to flourish. The consumption of organic tea rose by 1.06 million gallons in 2018. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. DUBAI, U.A.E., Aug. 12, 2020 /PRNewswire/ -- The bubble tea market is expected to rise at a year-on-year growth rate of 8% from 2020-2030, opines Future Market Insights in its recent report . The Tea segment in Australia is projected to grow by 2.61% (2023-2025) resulting in a market volume of US$1.47bn in 2025. . In global comparison, most revenue is generated in China (US$111,800.00m in 2023). India and Australia will lock horns in the Third Test of the ongoing Border-Gavaskar Trophy at Indore's Holkar Cricket Stadium from March 1 onwards. According to ourlatest study, due to COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8295.5 million in 2021 and is forecast to a readjusted size of USD 26870 . If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. 10. Bubble Tea Market Analysis, Growth & Forecast 2027 - Yahoo! This bubble tea craze has taken over. 10. 13. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Overall, though tea registered. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. What may surprise you though is the amount of sugar! In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. 8. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. We calculate that for a 700 ml or 24 oz serving of bubble milk tea, which is usually the large cup size in most boba shops, the total bubble tea calories are 700 kcal. The value of its market is estimated to be $5.2 billion. The market for Hot Drinks is structured into retail sales for at home consumption and on-premise or foodservice sales for out-of-home consumption. Tea consumption per capita in the UK is 1.3 kg for 2019. To get the sample of bubble tea market report, click on the link (Please paste the link here). https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. China is a major bubble tea manufacturer. Is Running A Bubble Tea Business In S'pore Actually Lucrative? The availability of different types of milk tea offers numerous options for consumers to enjoy. Six in ten (59.7%) did not usually consume either sugar sweetened or diet drinks. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. The research report includes quantitative and qualitative insights into the market. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. 15. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. This growth is fueled by the perceived health benefits of green tea. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls, from Taiwan, it hinders the production process and impacts their overall operations. Need to talk to an expert? A South Australian Health Omnibus Survey (SAHOS) done in 2014 showed that there was a . Clicking on the following button will update the content below. As a result, other plant-based hot . A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. We dont recommend anyone making it a daily indulgence. Tea is a beverage made by pouring hot water over cured leaves. For people aged 71 or older, the figures were substantially lower, at 1,584 grams and 1,532 grams, respectively. The market is expected to grow at a CAGR of 7.40%, during the forecast period. 14. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. Until 2025, the tea market in Philippines is forecast to reach 109.79 million USD (in retail prices), thus increasing at a CAGR of 6.70% per annum for the period 2020-2025. Sometimes they are blended with ice to give them a more slushy-like consistency. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. Awareness about health issues and their relation to meat consumption has resulted in a shift towards vegan and plant-based diets. SOURCES OF FREE SUGARS - Australian Bureau of Statistics Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. Pearls or boba color varies depending on the additives added to the tapioca and this segment is one of the most trending bubble tea across the world. The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. Online retailing is predicted to register an 11.9% CAGR. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. info@pearllemongroup.com. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. More Insights into the Bubble Tea Market Report. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. Over 95% of females in the united states have tried bubble tea, while 81% of males . The closure of Shanghai . We selected the top 40 popular menu items from three of the most commonly used OFD applications in 2021. The ICC World Test Championship final will be played in The Oval, London from June 7 to 11, where the conditions are pacer-friendly. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. Aug 24, 2022 03:14pm. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. There are many varieties of the drink with a wide range of ingredients. 11.2% of Victorian adults consume sugar sweetened beverages daily. Jan 2023. Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. Thanks for sticking with me in this huge post. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. page 1 . 12. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. Beware the Bubble Tea: Examining the Dangers of Bubble Tea Consumption Global Bubble Tea Market Size, Growth, Share, Industry Trends Analysis Tea culture: A transformation is brewing in India - The Statesman Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. List of countries by tea consumption per capita - Wikipedia Sugary drink consumption data Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. For those looking to cut back on sugar, bubble tea may not be the best choice. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. Bubble milk tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. 1. Australia . Bubble tea is also known as (Zhen Zhu Nai Cha) directly translates to pearl milk tea, but is also known as boba tea in . I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. The global market for organic tea is showcasing strong growth principally because of the growing knowledge regarding safer counterparts of organic products among consumers. Quick Facts. In this article, I'll be sharing detailed statistics on bubble tea consumption - so if you're as curious as I am about this popular beverage, read on! With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. Global Bubble Tea Market Dynamics, Regional Analysis, Segmentation, Competitive Landscape, COVID-19 Impact, Recent Developments and SWOT Analysis of Key