China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. This cross-sectional study investigated the association between bubble tea consumption and symptoms of anxiety and depression in a population-based sample. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. Tea is the second most popular drink in the world, with water at first place. Why buy this report? Thailand leads in . This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. Fortune Business Insights says that the global market size was USD 2.17 billion in 2021 and is projected to reach USD 3.78 billion by 2029. About 200 million pounds of tea leaves (bagged & loose) are shipped into the United 15. This means, market totals are not comparable to published data from prior years. In the United States, 95% of women have tried bubble tea versus 81% of males. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. Bubble milk tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit-flavored, green jasmine, and black tea-based milk tea, across the globe. The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. Bubble Tea Consumption Statistics (2017-2021) Vs Market Estimations (2022-2032) During 2017-2021, the global bubble tea target market expanded at a value CAGR of 6.3%.. 4. Of the 30 countries that enjoy bubble tea, most are in Asia. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. The price per unit in the out-of-home market always references the total price over the amount of tea consumed, regardless of the other components of the finished beverage. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. 02 Each tapioca ball has 5 to 14 calories. According to a study published in the National Library of Medicine, 2022, chewing tapioca pearls can increase the salivary C-protein (CRP) and calcium (Ca) levels. Which is the leading segment based on the product type in the market? Statista. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. The green tea segment was the highest contributor to the market, with $16,362 million in 2019, and is estimated to reach $26,110 million by 2027, at a CAGR of 9.8% during the forecast period. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. We dont recommend anyone making it a daily indulgence. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. Versatility in flavor, health benefits, and social media trends drive the market. Young people between ages 20 and 29 are interested in bubble tea. As more and more consumers become aware of the negative effects of sugar consumption, the sugar-free or reduced sugar segment of bubble tea is expected to gain popularity. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. Tea consumption per capita in the UK is 1.3 kg for 2019. The global bubble tea market size was valued at USD 2.17 billion in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . Tea decreased 0.14 USD/Kgs or 4.95% since the beginning of 2023, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. The demand for bubble tea is predicted to grow at an impressive rate. This bubble tea craze has taken over. The market for Tea segment is expected to show a volume growth of 1.6% in 2024. Grab also reported that on average, Southeast Asians drink an average of four cups of pearl milk tea per person per month. (World Atlas)3.The USA ranks 11th among the countries with the highest caffeine consumption, with a rate of 200 mg per person per day. Bubble tea truly is an international drink! In 2018, there were over 450,000 shops selling bubble tea in China. The global organic tea market size was USD 820.8 million in 2019 and it is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. In 2016, 19.4 per cent of But did you know that there are six different types of bubble tea? Request a Free sample to learn more about this report. The boba tea trend continued to soar in its originating region and later spread its attractiveness in other western countries, such as Canada and the U.K., and is now considered a mainstay due to its unique formulation. Health Benefits Associated with Bubble Tea Consumption to Drive the Market Growth . The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. To understand the global market potential, growth, and scope, the market is segmented based on base ingredients (black tea, green tea, oolong tea, white tea, others), flavor (original, flavored (nut-flavored, chocolate, fruit, honey, mocha, caramel, vanilla, coconut), sugar content (regular, reduced sugar/sugar-free) format (ready-to-drink, instant mixes), toppings (pearl, grass jelly, coconut jelly, red bean, multiple/ others), distribution channel (direct (B2B), indirect (B2C) (hypermarket/ supermarket, convenience store, grocery retailers, wholesale, other store-based retailing), online retailing), and region. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Tea is one of the most popular beverages consumed worldwide. FB : Beverages| Pages: 261 | Author(s) : Vaibhav S , Roshan D, Single User License, Five User License & Enterprise User License. Victorian Government, Department of Health and Human Services. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. As per the latest report by FMI, the U.S. bubble tea market is expected to register a 12.4% CAGR during the forecast period. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. The availability of different types of milk tea offers numerous options for consumers to enjoy. The average volume per person in the Tea segment is expected to amount to 0.68kg in 2023. The market for Hot Drinks is structured into retail sales for at home consumption and on-premise or foodservice sales for out-of-home consumption. Pearl Lemon Boba Unit 4 Building, 250 North End Rd, London SW6 1NJ, United Kingdom. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. The research report includes quantitative and qualitative insights into the market. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. When you look at the marketing for bubble tea, the numbers make sense. Table 1 shows the frequency of bubble tea consumption, and the prevalence of symptoms of depression and anxiety according to the covariates age, gender, sociodemographic and lifestyle factors. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022. Consumption of sugar sweetened and diet drinks in adults. Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. 01 The first bubble tea came out in the early 1980s. October 26, 2021 13:00 ET | Source: Fortune Business Insights. Millennial Tea Drinking Stats - Tea continues to gain market share in surprising areas. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. Coffee shop. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. Over of the bubble tea enjoyed around the world is fruit-flavored. Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. Pour tea, milk, and 4 teaspoons sugar into a cocktail shaker. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no andlow-alcohol beverages, which has further contributed to the market growth. Virtually any flavor that you can imagine exists with bubble tea. Worldwide Tea Statistics. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. According to the report, bubble tea orders had increased at a whopping 3,000 percent in 2018. Over 90% of the tea consumed is Black Tea, about 5% Green Tea, 1% Oolong Tea and the balance flavored, scented, or mixed teas. 11.2% of Victorian adults consume sugar sweetened beverages daily. The global Bubble Tea Market is expected to $4,368.6 million in 2027. The at-home market, also called off-trade market, covers all retail sales via super- and hypermarkets, convenience stores or similar sales channels. The rise in online food delivery (OFD) applications has increased access to a myriad of ready-to-eat options, which may lead to unhealthier food choices. Boost your students confidence by putting their results next to the public's Based on the distribution channel, online retailing is expected to exhibit a CAGR of 11.9%. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. The global bubble tea market size was valued at USD 2.17 billion in 2021. This was attributed due to rise in the consumption of tea based everages across the world. Remarkable job and great efforts by your research team. Between 2021 and 2028, the global tea market is expected to grow at a CAGR of 6.6%. The two businesses are known for their zingy fruit tea drinks. The global bubble tea market size was USD 2.1 billion in 2019 and is expected to register a compounded annual growth rate (CAGR) of 8.9% from 2020 to 2027. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. This is a list of countries ordered by annual per capita consumption of tea, as of 2016. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. China is a major bubble tea manufacturer. The current valuation of the market is US$ 2.50 billion in 2022. Clicking on the following button will update the content below. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. There are many teas, they can vary in . Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. That means 24 countries have higher consumption rates that are worth targeting. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. Australia: 0.75 kg (1.65 lb) 17 Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. The market is anticipated to be valued at US$ 46.0 Mn in 2032. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. Tea, from the plant Camellia sinensis, is consumed in different parts of the world as green, black, or Oolong tea.Among all of these, however, the most significant effects on human health have been observed with the consumption of green tea [].The first green tea was exported from India to Japan during the 17th century.
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