Bubble Tea Market | CAGR of 7.3% Estimated during 2018-2023 | Key Players Profiles and Application Forecast

Competitive Analysis:
With the entry of industry players, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

The key players profiled in the Global Bubble Tea Market are as Bubble Tea House Company (U.K.), Bubblelicious Tea Ltd. (U.K.), Lollicup USA Inc. (U.S.), Sumo's (M) Sdn Bhd (Malaysia) and Gongcha (Hong Kong).

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Market Overview:
Bubble tea, which is indigenous to Asian region has gained new found markets and demographics globally where its demand is swiftly rising. Market Research Future, a firm which specializes in market reports related to Food, Beverages & Nutrition sector among others, recently published a report on this market.  The market is expected to grow at a CAGR of 7.3% during the forecast period.

The bubble tea industry has diversified mainly due to the increased demand from the consumer trends and positive exposure in terms of marketing strategies initiated by various industry players. Health benefits of bubble tea in comparison to junk food option have made it a relatively popular drink. In connection with the health and wellness trend, bubble tea has also gained increased traction with individuals focused on consuming healthier alternatives in terms of beverages.

Industry Segments:
Bubble tea market has been segmented on the basis of tea type which includes black tea, green tea, rum, oolong tea, white tea, and others. Green tea type will witness higher growth rate due to increasing consumption of green tea across the globe. Bubble tea product has been segmented on the basis of milk type which comprises of dairy and non-dairy. Diary type bubble tea will continue to dominate the market as it is highly popular in the Asia Pacific region. Bubble tea product has been segmented on the basis of jelly type which comprises tapioca pearls, basil seeds, fruit, gelatin and other. Bubble tea with tapioca pearls will grow at higher rate during the forecast period. Bubble tea product has been segmented on the basis of product type which comprises smoothies, milkshakes, ready-to-mix and other. Smoothies made from bubble tea will grow at higher rate during the forecast period.

Regional Analysis:
The Global Bubble Tea Market is segmented into North America, Europe, and Asia Pacific along with rest of the world (RoW). Asia Pacific region is estimated to dominate the market followed by Europe. China and Taiwan are the major bubble tea producers in the Asia Pacific region. China dominates the market in this region due to increasing consumption of blended tea drinks.  Increasing popularity of flavored tea from developed countries like U.K., Germany and Italy is influencing the market growth in the Europe region. Increasing awareness about health benefits of bubble tea is supporting the market growth in the North America region.

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Latest Industry News:
Oct 2017 The Lollicup Fresh brand which is a pioneer of the United States bubble tea industry and has continued to thrive over the years. They have recently opened a new outlet in Westwood Village following a grand opening. The outlet will offer boba, selective hot and cold drinks, and entrees for a reduced price.

Nov 2017 popular bubble tea brand Gong Cha has made its Singapore comeback with the opening of its first outlet at SingPost Centre. In June, all 80 Gong Cha stores here were converted to LiHo outlets by RTG Holdings, which brought the bubble tea chain here in 2009 and expanded it islandwide. Gong Cha (Singapore) will be under the leadership of Mr Kang Puay Seng, co-founder and former managing director of Mr Bean food and beverage chain.

Nov 2017 London-based bubble tea chain Bubbleology is looking to open in Bath. The company, Europe’s largest bubble tea franchise, has opened stores across the country and is looking for investors in Bath to get involved and be a part of the brand for as little as £60,000. Depending on location type and requirements, the minimum personal cash investment for the Bubbleology franchise is £60,000 and the remaining £60,000 would be funded by banks associated with the company.

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This release was published on openPR.