Bubble Tea Market Before and After COVID-19 Crisis Impact Assessment Analysis 2021-2027

Bubble Tea Market was pegged at $2.4 billion in 2019 and is estimated to hit $4.3 billion by 2027, registering a CAGR of 7.8% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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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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.

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.

Based on flavor, the fruit flavor segment has accounted for more than three-fifths of the global bubble tea market revenue in 2020, and is anticipated to lead the trail by the end of 2027. Simultaneously, the chocolate flavor segment would portray the fastest CAGR of 8.4% from 2020 to 2027. The other segments analyzed in the report take in original flavor and coffee flavor.

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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The leading market players analyzed in the global bubble tea market report include 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. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their stand in the industry.

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