Bubble Tea Market Emerging Trends in COVID-19 Outbreak 2020 to 2027 By: Share Tea, Fanale Drinks, ChaTime, CoCo Fresh, Huey-Yuhe Enterprise, Quickly, Kung Fu Tea, BobaLoca

Bubble Tea Market by Base Ingredient (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, and Others), and Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global bubble tea market generated $2.4 billion in 2019, and is expected to reach $4.3 billion by 2027, growing at a CAGR of 7.8% from 2020 to 2027.

COVID-19 scenario-

• Complete lockdown hits the global tea industry quite badly. And, this operational issue is proven to be a serious challenge for the industry.
• Also, some bubble tea shops like BobaJoy are not allowed to resume their business until the pandemic situation comes under control. However, the online sale of the product will continue to be allowed, provided it caters to all the mandatory norms issued to an F&B (Food & Beverage) establishment.

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Prime determinants of growth

Low price of bubble tea, health benefits associated with it, and expanding retail market drive the growth of the global bubble tea market. On the other hand, addition of artificial preservatives & color in bubble tea and rise in consumption of coffee curtail down the growth to some extent. However, introduction of new flavors and decrease in demand for carbonated drinks are expected to create new opportunities in the industry.

The fruit flavor segment to dominate during the forecast period

Based on flavor, the fruit flavor segment accounted for more than three-fifths of the global bubble tea market in 2020, and is projected to continue to dominate during the forecast period. This is due to surge in number of vegan people and health consciousness consumers across the globe. However, the chocolate flavor segment would grow at the fastest CAGR of 8.4% from 2020 to 2027, owing to its ability to offer combined health benefits of both chocolate and bubble tea.

The black tea segment to maintain its lead status throughout the forecast period

Based on base ingredient, the black tea segment accounted for the largest market share in 2020, holding more than two-fifths of the global bubble tea market, and is estimated to maintain its lead status throughout the forecast period. This is attributed to surge in awareness and health benefits including prevention of chronic diseases such as obesity, diabetes, cardiovascular disease, and cancer. However, the green tea segment is estimated to maintain the highest CAGR of 8.2% from 2020 to 2027, owing to increase in number of fitness conscious consumers across the globe.

Top Leading Market Players: Share Tea, Fanale Drinks, ChaTime, CoCo Fresh, Huey-Yuhe Enterprise, Quickly, Kung Fu Tea, BobaLoca, Bubble Tea Supply Inc., Happylemon, T Bun International, and Grand Chainly

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North America to maintain its dominant position by 2027

Based on region, North America accounted for more than half of the global bubble tea market in 2020, and is estimated to maintain its dominant position by 2027. This is attributed to rise in number of tea and coffee consumers in the region. However, Europe is estimated to maintain the highest CAGR of 8.7% from 2020 to 2027, owing to surge in tourism activities, health consciousness among young population, and prominence of the bubble tea in the region.

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