Bubble Tea Market Size was valued at USD 2.72 billion in 2022 and is expected to reach USD 5.42 billion by 2030, and grow at a CAGR of 9% over the forecast period 2023-2030.
Bubble tea or boba is an exceptional Taiwanese drink ready by mixing tea base with flavors, milk, or sugars and afterward adding custard pearls that sit at the base. The custard balls are gotten from cassava root that contains L-ascorbic acid and calcium. The ubiquity of bubble tea is expanding quickly across the world and it is accessible in different flavors like mango, peach, pomegranate, and others. Dark tea, white tea, green tea, and oolong tea are utilized as a base for getting ready to bubble tea which is then redone utilizing syrups like lychee, and strawberry.
What's more, many bubble teas are ready with pudding, syrups, natural products, jams, yogurt, and others. The flavor of bubble tea relies upon natural product flavors, syrups, and natural product jams that are utilized as a base flavor. Bubble tea has different advantages, for example, it assists with reinforcing the resistant framework, supports energy, and further develops heart wellbeing, which makes it a famous refreshment.
Driving Factors:
Development in wellbeing cognizance and expansion in the reception of sound drinks.
Restraining Factors:
Abundance of sugar content in these beverages promotes medical problems and a pattern of espresso utilization.
Opportunities:
Presentation of different new flavors and mixes and appeal among the youthful populace for an assortment of teas.
Challenges:
Lockdown limitations, prohibition on import and product exercises, and break-in-store network exercises.
The rise of COVID-19 has obliged government associations to stringently close eateries, ranches, and undertakings to safeguard wellbeing safety measures and to accomplish social distance. This has brought about delays on the way and both the activity of supply (tea domains) and interest for utilization focus being stopped by the absence of staff and fewer guests to bistros around mid-afternoon. The Indian Tea Association reports that tea costs, both in light of the irruptive development of freight and the decrease in crop size, have expanded by 25% to 40% overall.
Dark tea held the biggest portion of the overall industry and is supposed to keep up with strength over the conjecture time frame. This development is ascribed to the valid normal kind of dark tea. Also, the beverage decreases glucose levels and terrible cholesterol and further develops stomach wellbeing. It additionally goes about as a brilliant wellspring of cell reinforcements.
Then again, the green tea item section is expected to witness the quickest CAGR. The development can be ascribed to the rising mindfulness about the medical advantages related to the utilization of green tea.
The natural product flavor section represented the most extreme portion of the overall industry and is supposed to keep up with the main situation over the conjecture time frame. The accessibility of different organic product flavors, for example, strawberry, enthusiasm organic product, mango, pineapple, melon, watermelon, avocado, coconut, grape, lychee, peach, honeydew, kiwi, and banana, is the key element driving the portion development.
By Base Ingredient:
Black Tea
Green Tea
Oolong Tea
White Tea
By Flavor:
Original Flavor
Coffee Flavor
Fruit Flavor
Chocolate Flavor
Others
By Component:
Flavor
Creamer
Sweetener
Liquid
Tapioca Pearls
Others
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North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Asia-Pacific (APAC) overwhelms the bubble tea market due to the maximum usage of the bubble tea inside the area.
Europe is supposed to observe huge development during the conjecture time of 2022 to 2029 on account of the expansion in the interest for sound hot drinks in the area.
The nation segment of the report additionally gives individual market influencing variables and changes in the guideline in the market locally that influences the current and future patterns of the market. The information focuses on downstream and upstream worth chain investigation, specialized patterns, and watchman's five powers examination, contextual analyses are a portion of the pointers used to conjecture the market situation for individual nations. Likewise, the presence and accessibility of worldwide brands and they’re provoke looked because of huge or scant rivalry between the neighborhood and homegrown brands, the effect of homegrown levies and shipping lanes are considered while giving figure examination of the nation information.
Bobabox Ltd., Bubble Tea House Company, Fokus, Inc., Gong Cha, ChaTime, Lollicup USA, Inc., Bubble Tea Supply, Inc., T Bun International, Ten Ren's Tea Time, Troika JC these are listed players in bubble tea market.
Fokus Inc-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 2.72 Billion |
| Market Size by 2030 | US$ 5.42 Billion |
| CAGR | CAGR 9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Base Ingredient (Black Tea, Green Tea, Oolong Tea, White Tea) • by Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, Others) • by Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Bobabox Ltd., Bubble Tea House Company, Fokus, Inc., Gong Cha, ChaTime, Lollicup USA, Inc., Bubble Tea Supply, Inc., T Bun International, Ten Ren's Tea Time, Troika JC |
| Key Drivers | •Development in wellbeing cognizance and expansion in the reception of sound drinks. |
| Market Opportunities | •Presentation of different new flavors and mixes and appeal among the youthful populace for an assortment of teas. |
Ans: Manufacturers, Research Institutes, university libraries, suppliers, and distributors of the product.
Ans: The base year calculated in the Bubble Tea Market report is 2021.
Ans: Bobabox Ltd., Bubble Tea House Company, Fokus, Inc., Gong Cha, ChaTime, Lollicup USA, Inc., Bubble Tea Supply, Inc., T Bun International, Ten Ren's Tea Time, Troika JC are the key players in the global Bubble Tea market.
Ans: The abundance of sugar content in these beverages promotes medical problems and a pattern of espresso utilization and lockdown limitations, prohibition on import and product exercises, and break-in-store network exercises are the restrains/challenges faced by the Bubble Tea market.
Ans: The Global Bubble Tea Market Size is expected to reach USD 4.56 billion by 2028, and grow at a CAGR of 9% over the forecast period 2022-2028.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Bubble Tea market segmentation, by Base Ingredient
8.1 Black Tea
8.2 Green Tea
8.3 Oolong Tea
8.4 White Tea
9. Global Bubble Tea market segmentation, by Flavor
9.1 Original Flavor
9.2 Coffee Flavor
9.3 Fruit Flavor
9.4 Chocolate Flavor
9.5 Others
10. Global Bubble Tea market segmentation by Component
10.1 Flavor
10.2 Creamer
10.3 Sweetener
10.4 Liquid
10.5 Tapioca Pearls
10.6 Others
11. Global Bubble Tea market, by region/ country
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company profiles
12.1 Bobabox Ltd.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.2 Bubble Tea House Company
12.3 Fokus, Inc.
12.4 Gong Cha ChaTime
12.5 Lollicup USA, Inc.
12.6 Bubble Tea Supply, Inc.
12.7 T Bun International
12.8 Ten Ren's Tea Time
12.9 Troika JC
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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