Bubble Tea Market is slated to increase at a high CAGR of 8.3% to reach US$ 3.23 Bn by 2032

The bubble tea market is a rapidly growing industry that has gained popularity worldwide. Bubble tea, also known as boba tea, is a beverage that originated in Taiwan and is made by mixing tea, milk, and fruit flavors with chewy tapioca pearls or other toppings. The unique texture and flavors of bubble tea have made it a popular drink among people of all ages.

Global consumption of bubble tea stood at around US$ 1.46 Bn in 2022, and the market is slated to increase at a high CAGR of 8.3% to reach a valuation of US$ 3.23 Bn by 2032.

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One of the primary drivers of the bubble tea market is the increasing popularity of Asian cuisine and culture around the world. Bubble tea is a unique beverage that is not widely available in many countries, which has made it a popular drink among people who are looking for new and exciting experiences. This has led to the growth of bubble tea shops and franchises in many countries, including the United States and Canada.

Companies

Gong Cha
Kung Fu Tea
Tiger Sugar
Sharetea
Boba Guys
Tapioca Express
Chatime
Tea Ren's Tea Time
CoCo Fresh Tea & Juice
Quickly
Happy Lemon
DaBoba
Cojiitii
TACHUNGHO

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Another driver of the bubble tea market is the increasing demand for healthy and natural beverages. Bubble tea shops often use natural ingredients and real fruit flavors to create their drinks, which has made it a popular choice for people who are looking for healthier alternatives to traditional sugary drinks. Additionally, many bubble tea shops offer customizable options, allowing customers to choose the level of sweetness and type of milk they prefer.

Despite the growth in the bubble tea market, there are still challenges that need to be addressed. One of the primary challenges is the high sugar content in many bubble tea drinks. While bubble tea can be a healthy and natural beverage, some shops use syrups and sweeteners that can add a significant amount of sugar to the drink. Additionally, the use of plastic cups and straws can contribute to environmental pollution.

Competitive Landscape

Prominent manufacturers of bubble tea are focusing on expanding their market share by entering into new markets as it helps gain a competitive advantage and allows branding opportunities by establishing multiple revenue streams.

Gong Cha offers an assortment of delicious tea flavors in New York City and New Jersey. Gong Cha tea is available in more than 1,650 cafes across 20 countries, and the company is open to expanding its business by a franchise model.
Sharetea has more than 450 stores in 16 countries such as the United States, Canada, U.K., Australia, Singapore, Malaysia, the Philippines, and Indonesia, with different franchise models and branches.
Tiger Sugar has its presence in Europe, Asia, Taiwan, Oceania, and America. It is expanding its presence by opening branches in Hong Kong, Korea, Afghanistan, Germany, and many others.
Chatime has over 125 outlets in Australia with more than 1,000 outlets in 30 countries such as Taiwan, Malaysia, China, India, Macau, Vietnam, Singapore, Hong Kong, Thailand, Korea, the Philippines, Indonesia, Australia, Dubai, Vietnam, Canada, U.K., Mexico, and the United States.

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Bubble Tea Industry Survey by Category

Bubble Tea Market by Base Ingredient:

Black Tea
Green Tea
Oolong Tea
White Tea

Bubble Tea Market by Flavor:

Unflavored Bubble Tea
Flavored Bubble Tea
Taro
Coffee
Fruit Flavors
Others

Bubble Tea Market by Format:

Ready-to-Drink Bubble Tea
Instant Bubble Tea Mix Kits

Bubble Tea Market Topping:

Tapioca Pearls
Popping Boba
Jellies
Others

Bubble Tea Market by Distribution Channel:

Business to Business Sales of Bubble Tea
Business to Consumer Sales of Bubble Tea
Hypermarkets/Supermarkets
Convenience Stores
Online Retail

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This release was published on openPR.