Global Bubble Tea Market Outlook to Reach $4.71 Billion by 2029, Growing at 9% CAGR

What combination of drivers is leading to accelerated growth in the bubble tea market?
The surge in tea intake is set to drive the growth of the bubble tea market. Tea, predominantly made from the dried and sliced leaves of the Camellia sinensis plant, and sometimes flowers, is prepared by pouring hot water over them. This beverage has been hugely favored globally and its demand has seen a swift rise in the recent past, thanks to its multitude health benefits and versatility. With tea becoming more popular, consumers are likely to explore unique and innovative tea-based drinks, including bubble tea. This trend is expected to accelerate growth in the bubble tea market as more people seek this unique and invigorating beverage. Moreover, the emergence of specialty tea outlets and the convenience of online ordering has expedited the process for customers to find and relish bubble tea. For example, the United States Census Bureau, a US government agency, reported in January 2024, that the value of tea imports in the US, encompassing both flavored and plain types, escalated to $508 million in 2022 from $131 million three decades ago. Thus, escalation in tea consumption will fuel the bubble tea market.

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What is the projected compound annual growth rate (CAGR) of the bubble tea market from 2025 to 2034, and what factors influence it?
In recent times, there has been a significant surge in the bubble tea market. The market, which stood at $3.12 billion in 2024, is projected to expand to $3.37 billion in 2025, marking a compound annual growth rate (CAGR) of 7.9%. Factors such as cultural impact, appeal to the younger generation, the trend factor, variety and personalization options, social media promotion, and the shift towards health-conscious consumption are key contributors to the growth witnessed in the historical period.

The market for bubble tea is projected to experience robust growth in the upcoming years, reaching an estimated value of "$4.71 billion in 2029, with a compound annual growth rate (CAGR) of 8.7%. Factors contributing to this anticipated growth in the forecasted period include an expanded variety of menu offerings, support and promotion from celebrities and influencers, the convenience of mobile ordering and delivery, commitments to sustainability, and the emphasis on specialty and premium products. Key trends expected in this period are specialty and limited-edition products, a heightened focus on health and wellness, customization and personalization options, commitments to sustainability, and an attitude of fusion and experimentation.

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How are the latest trends influencing the growth of the bubble tea market?
Leading organizations in the bubble tea industry are shifting their focus to creating unique products like proprietary Coco jelly boba pearls. This move aims to improve the customer experience, offer better texture and shelf longevity, appeal to health-minded consumers, and set themselves apart in a highly competitive environment. Proprietary Coco jelly boba pearls are one-of-a-kind chewy spheres made from fermented coconut water, enhancing the texture of bubble tea considerably. In March 2024, American beverage company SPI West Port Inc., launched JENJI, a fresh range of ready-to-drink (RTD) boba teas to leverage the rapidly increasing popularity of this beverage. This range includes four flavors - Original Milk Tea, Matcha Latte, Strawberry Latte, and Brown Sugar, conveniently packaged in 16.5 oz (490 mL) aluminum cans. These beverages do not contain any artificial colors or flavors.

What are the major segments of the bubble tea market and their role in driving growth?
The bubble tea market covered in this report is segmented -

1) By Type: Black Tea, Green Tea, Oolong Tea, White Tea, Other Types
2) By Flavor: Original, Fruit, Coffee, Chocolate, Other Flavors
3) By Component: Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, Other Components

Subsegments:
1) By Black Tea: Traditional Black Tea, Milk Black Tea, Fruit Black Tea Variants
2) By Green Tea: Traditional Green Tea, Milk Green Tea, Fruit Green Tea Variants
3) By Oolong Tea: Traditional Oolong Tea, Milk Oolong Tea, Flavored Oolong Tea Variants
4) By White Tea: Traditional White Tea, Flavored White Tea, White Tea With Additives
5) By Other Types: Herbal Tea, Fruit Tea, Floral Tea, Specialty Blends

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Which regions are key players in the growth of the bubble tea market?
Asia-Pacific was the largest region in the bubble tea market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global bubble tea market during the forecast period. The regions covered in the bubble tea market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the key firms paving the way for growth in the bubble tea market?
Major companies operating in the bubble tea market include Lollicup Inc., CuppoTee Company, Bubble Tea House Company, Ten Ren's Tea Co. Ltd., Boba Box Limited, Sumos Sdn Bhd, Troika JC., Fokus Inc., Tea Time, Kuaikeli Enterprise Co. Ltd., COCO International Co. Ltd., Kung Fu Tea, Gong Cha, Kevito Ltd., Qbubble Troika J C Inc., Biju Bubble Tea, Bubbleology, Chatime, Comebuy, Ding Tea, Fanale Drinks, Happy Lemon, Heytea, Koi Thé, Nayuki, OneZo, Presotea, Quickly, Royaltea, Sharetea, The Alley, The Tea Terrace, The Whale Tea

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What Is Covered In The Bubble Tea Global Market Report?

• Market Size Forecast: Examine the bubble tea market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the bubble tea market for a structured understanding.
• Key Players Overview: Analyze major players in the bubble tea market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the bubble tea market.
• Segment Contributions: Evaluate how different segments drive overall growth in the bubble tea market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the bubble tea market.
• Industry Challenges: Identify potential risks and obstacles affecting the bubble tea market.
• Competitive Landscape: Review strategic developments in the bubble tea market, including expansions, agreements, and new product launches.

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