- Press Release
- Bubble Tea Market to Reach US$ 3,122.4 Mn by 2027
Bubble Tea Market to Reach US$ 3,122.4 Mn by 2027 - Coherent Market Insights
Published On : Aug 27, 2019
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:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.