Bubble Tea Market to Reach US$ 3.6 Billion by 2028 | CAGR of 7.1%

According to the latest report by IMARC Group, titled "Bubble Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global bubble tea market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.

Bubble tea, alternatively known as pearl milk tea, refers to a sweet beverage produced using black or green tea, typically mixed with milk or fruit syrup and small balls of tapioca. It is available in numerous flavors such as original, coffee, fruit, chocolate, strawberry, etc. Hot or cold bubble tea variants are rich in vitamin C, caffeine, and antioxidants which aid in boosting energy, reducing inflammation, and strengthening the immune system and cardiovascular health. Consequently, they are in extensive demand among consumers across the globe.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally-our estimates about the latest market trends and forecast values after considering the impact of this pandemic.

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Industry Growth:

The growing food and beverage industry across countries and the emerging trend among fast food, quick service, and casual dining restaurants and cafes of experimenting with versatile teas and bold flavors to offer their consumers innovative beverage variations are among the key factors driving the bubble tea market. In addition to this, the elevating health consciousness among the masses and the rising awareness regarding the benefits of consuming bubble tea regularly are acting as significant growth-inducing factors. In line with this, the shifting preference toward coffee and tea as nootropic beverages among working professionals and students for improving memory, concentration, motivation, and learning capabilities are also positively influencing the global market. Moreover, the launch of new products in exotic flavors and aesthetically appealing packaging by leading market players is further stimulating the market growth. Apart from this, the increasing demand for organic and natural beverages and the escalating product availability through online retail platforms are expected to propel the bubble tea market in the coming years.

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Key Segmentation:

Competitive Landscape with Key Players:

• Boba Loca USA Inc.
• Bubble Tea Supply
• CoCo Fresh Tea & Juice
• Fanale Drinks
• Fokus Inc
• Huey-Yuhe Enterprise Co. Ltd.
• Kung Fu Tea
• Lollicup USA Inc.
• Quickly Chapel Hill
• Sharetea
• Troika J C Inc

Breakup by Base Ingredients:

• Black Tea
• Green Tea
• Oolong Tea
• White Tea

Breakup by Flavor:

• Original Flavor
• Coffee Flavor
• Fruit Flavor
• Chocolate Flavor
• Others

Breakup by Component:

• Flavor
• Creamer
• Sweetener
• Liquid
• Tapioca Pearls
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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This release was published on openPR.