The global bubble tea market was valued at US$ 2,013.2 Mn in 2018, according to Bubble Tea Market Report, by Tea Type (Black Tea, Green Tea, White Tea, Oolong Tea, Others), by Flavor Type (Flavored, Original), by Boba Type (Black Boba, Clear Boba, Flavored Tapioca Boba, Others), by End User { Kids (Less Than Age 10), Teenagers (Age 10 –Age 17), Adults (More than Age 17)}, and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) published by . The global bubble tea market is projected to reach US$ 3,122.4 Mn by 2027, exhibiting a CAGR of 5.1% during the forecast period (2019-2027). The market is expected to witness significant growth over the forecast period, attributing to wide availability of various flavors in bubble tea, changing taste preferences of the consumers along with the rising disposable income. Bubble tea is considered as a luxury and is considered as a premium beverage. Therefore, growing urbanization, changing food habits, and rising disposable income, especially in emerging economies, are major drivers for growth of the bubble tea market. Rising disposable income is a major reason for increasing demand for fancy cafes and expensive food & beverages. For instance, according to the Organization for Economic Cooperation and Development, in 2017, China’s disposable income increased to US$ 5,278.3 from US$ 3,562.2 in 2012. Therefore, increasing disposable income in emerging economies is expected to drive growth of the global bubble tea market over the forecast period. However, health hazards associated with the regular consumption of bubble tea is anticipated to hinder the growth of the market. Bubble tea creams contains tans-fat in high quantity and over consumption of which increased the risk of getting stroke, type 2 diabetes, and heart diseases. To know the latest trends and insights prevalent in this market, click the link below: https://www.coherentmarketinsights.com/market-insight/bubble-tea-market-2997 Browse 20 market data tables* and 45 figures* on "Bubble Tea Market” - Global forecast to 2027. Key Takeaways of the Market:
- On the basis of end user, adult segment contributed for over 56.8% of the revenue share in the global bubble tea market in 2018. The consumption of bubble tea is high among teenagers and adults. According to the research conducted on “Calories and sugars in boba milk tea: Implications for obesity risk in Asian Pacific Islanders” in 2016, and published by the U.S. National Library of Medicine National Institutes of Health, the consumption of boba tea is high among teenage and adult Asian American Pacific Islanders (AAPIs).
- Among flavor type, flavored bubble tea contributed for the largest revenue share in the global bubble tea market in 2018. High consumer preference for flavored bubble tea, owing to its nutritional value, unusual taste, and availability of different flavors is driving growth of flavored segment in the global bubble tea market.
- Companies are introducing new flavors of bubble tea in order to expand its business and product portfolio in the bubble tea market. For instance, in March 2019, Puchho, a Japanese candy company, launched new flavor ‘The Puccho Stick Candy Brown Sugar Bubble Tea’ at 7-Eleven in the U.S. The new stick candy brown sugar bubble tea flavor has similar taste and smell like the brown sugar milk tea, which is popular amongst the people in the U.S.
- Major players operating in the global bubble tea market are Teapioca Lounge, OCOCO International Co., Ltd., Kung Fu Tea, Lollicup Coffee & Tea, Vivi Bubble Tea, Chatime, Boba Guys, Chill Bubble Tea, Boba Tea Company, and Real Fruit Bubble Tea
