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Global Bubble Tea Market: By Type: Black, Green, Oolong, White; By Flavour: Original, Fruit, Coffee, Chocolate, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Value Chain Analysis; Price Analysis; Manufacturing Process; Competitive Landscape; Industry Events and Developments
Global Bubble Tea Market Outlook
The global bubble tea market reached a value of almost USD 2.4 billion in the year 2020. The industry is further expected to grow at a CAGR of 7.5% between 2023 and 2028 to reach a value of almost USD 3.6 billion by 2027.
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The global bubble tea market is expected to witness a heathy growth in the forecast period aided by its increasing penetration across the globe. The Asia Pacific is the leading regional market for bubble tea. Within Asia, countries like Taiwan, People's Republic of China, Hong Kong, South Korea, the Philippines, and Singapore are the major market for the beverage. Taiwan is a significant market in the region as the beverage was designed in the country in the 1980s. The market for the drink is also growing in Asian countries like Malaysia and Vietnam. Other emerging markets of bubble tea are Europe and North America, with the UK and the US being the significant markets for the drink in these regions, respectively.
The overall increase in tea production and consumption is expected to aid the growth of the bubble tea market. Between 2007 and 2016, the tea output witnessed an annual growth of 4.4%, with China contributing significantly to the growth. The growth of the tea industry in China in the ten-year period was aided by the growth of its economy and a robust rise in its domestic consumption. In 2016, the country accounted for over 40% of the global tea output. The consumption of tea is also projected to grow globally, especially in the countries where the drink is traditionally produced. In the forecast period, black tea consumption is expected to witness a robust growth and is projected to witness an annual increase of 2.5% in the coming five years. With increasing preference for innovative and healthier forms of the beverage growing across the globe, the bubble tea market is expected to witness a healthy growth in its market in the coming years. In mature tea markets like the Europe, innovation and expansion of the product will particularly propel the overall tea industry forwards. In the US, where the market growth of the beverage is being driven by the millennial and baby boomer population, the industry for the bubble tea is expected to witness a robust growth supported by the rising consumption of all varieties of tea.
Market Segmentation
Bubble tea, also known as pearl milk tea, bubble milk tea, boba tea, or boba juice, is a popular beverage made with the basic ingredient of tea to which chewy tapioca seeds are added. It can be made in various combinations by adding fruit jellies and syrups. Flavours entirely vary according to the ingredients added to the bubble tea. It can be available in the original bubble tea flavour, fruit flavour, coffee or chocolate flavours, among others. The tea variety used as a base in the product can be:
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- Black
- Green
- Oolong
- White
The green bubble tea is a popular choice and represents an integral part of the global industry for bubble tea since the segment provides a range of wellness advantages including the prevention and reduction of health problems like cancer, cardiovascular diseases, and cholesterol. The variety also aids in improving metabolism and losing weight, along with, minimising the risk for type II diabetes, and Alzheimer and Parkinson’s disease.
The report also covers the regional markets of the product like North America, Europe, the Middle East, and Africa, the Asia Pacific, and LATAM.
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Market Analysis
The varieties of flavours and texture of the product is driving the global bubble tea market. With major players seeking to introduce more innovative forms of bubble tea, the market is further expected to grow. The rapidly growing urbanisation is further aiding the bubble tea industry growth. As more and more countries are now offering this tea, which is adding to its rising demand, the industry is being further propelled forward. Th rising middle class is also driving the industry growth due to its cost-effectiveness.
As people are seeking healthier and organic products, the bubble tea market is expected to further grow in the coming years.Higher penetra tion of the product along with expansion of its markets to newer regions is also aiding the industry. With people moving away from carbonated drinks and the implementation of sugary beverage taxes across multiple countries, globally, the global bubble tea industry is expected to be further propelled forward as it is perceived as a healthier option. The claimed health benefits of bubble tea include the improved immune system, heart health, improved energy level, and prevention of cancer. It is also being preferred over carbonated drinks due to its antioxidants content.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global bubble tea market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Dama Foods International Co., Ltd
- Lollicup USA Inc.
- Fokus Inc.
- Cuppo Tee Company Limited
- Sumo's (M) Sdn Bhd
- Huey-Yuhe Enterprise Co., Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Flavour, Region |
| Breakup by Type | Black, Green, Oolong, White |
| Breakup by Flavour | Original, Fruit, Coffee, Chocolate, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Price Analysis | Historical and Forecast Price Trends-Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Dama Foods International Co., Ltd, Lollicup USA Inc., Fokus Inc., Cuppo Tee Company Limited, Sumo's (M) Sdn Bhd, Huey-Yuhe Enterprise Co., Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Bubble Tea Market Analysis
8.1 Key Industry Highlights
8.2 Global Bubble Tea Historical Market (2018-2022)
8.3 Global Bubble Tea Market Forecast (2023-2028)
8.4 Global Bubble Tea Market by Type
8.4.1 Black
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Green
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Oolong
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 White
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.5 Global Bubble Tea Market by Flavour
8.5.1 Original
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Fruit
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Coffee
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Chocolate
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.6 Global Bubble Tea Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
12.1 North America Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.2 Europe Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.3 Asia Pacific Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.4 Latin America Historical Price Trends (2018-2022) and Forecast (2023-2028)
12.5 Middle East and Africa Historical Price Trends (2018-2022) and Forecast (2023-2028)
13 Manufacturing Process
13.1 Overview
13.2 Detailed Process Flow
13.3 Operation Involved
14 Project Requirements and Cost Analysis
14.1 Land, Location and Site Development
14.2 Construction
14.3 Plant Machinery
14.4 Cost of Raw Material
14.5 Packaging
14.6 Transportation
14.7 Utilities
14.8 Manpower
14.9 Other Capital Investment
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Dama Foods International Co., Ltd
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Lollicup USA Inc
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Fokus Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Cuppo Tee Company Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Sumo's (M) Sdn Bhd
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Huey-Yuhe Enterprise Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Others
16 Industry Events and Developments
List of Key Figures and Tables
1. Global Bubble Tea Market: Key Industry Highlights, 2018 and 2028
2. Global Bubble Tea Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Bubble Tea Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Bubble Tea Historical Market: Breakup by Flavour (USD Billion), 2018-2022
5. Global Bubble Tea Market Forecast: Breakup by Flavour (USD Billion), 2023-2028
6. Global Bubble Tea Historical Market: Breakup by Region (USD Billion), 2018-2022
7. Global Bubble Tea Market Forecast: Breakup by Region (USD Billion), 2023-2028
8. North America Bubble Tea Historical Market: Breakup by Country (USD Billion), 2018-2022
9. North America Bubble Tea Market Forecast: Breakup by Country (USD Billion), 2023-2028
10. Europe Bubble Tea Historical Market: Breakup by Country (USD Billion), 2018-2022
11. Europe Bubble Tea Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Asia Pacific Bubble Tea Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Asia Pacific Bubble Tea Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Latin America Bubble Tea Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Latin America Bubble Tea Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Middle East and Africa Bubble Tea Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Middle East and Africa Bubble Tea Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. North America Historical Price Trends and Forecast 2018-2028
19. Europe Historical Price Trends and Forecast 2018-2028
20. Asia Pacific Historical Price Trends and Forecast 2018-2028
21. Latin America Historical Price Trends and Forecast 2018-2028
22. Middle East and Africa Historical Price Trends and Forecast 2018-2028
23. Global Bubble Tea Market Structure
Key Questions Answered in the Report
In 2020, the global bubble tea market attained a value of nearly USD 2.4 billion.
The market is projected to grow at a CAGR of 7.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 3.6 billion by 2026.
The major drivers of the industry include rapid urbanisation, rising middle class, higher product penetration, and improved healthier contents.
The launch of varieties of flavours and texture of the product is expected to be a key trend guiding the growth of the industry.
The different types of bubble tea available are black, green, oolong, and white.
The different flavours of bubble tea available in the market are original, fruit, coffee, and chocolate, among others.
The leading players in this market are Dama Foods International Co., Ltd, Lollicup USA Inc., Fokus Inc., Cuppo Tee Company Limited, Sumo's (M) Sdn Bhd, and Huey-Yuhe Enterprise Co., Ltd., among others.
Analyst Review
The global bubble tea market attained a value of USD 2.4 billion in 2020, driven by rapid urbanisation and rising middle class. Aided by the launch of various flavours and texture of the product, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 7.5%. The market is projected to reach USD 3.6 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on the type, the bubble tea industry can be segmented into black, green, oolong, and white. On the basis of flavours, the industry is divided into original, fruit, coffee, and chocolate, among others. The key players in the above industry include Dama Foods International Co., Ltd, Lollicup USA Inc., Fokus Inc., Cuppo Tee Company Limited, Sumo's (M) Sdn Bhd, and Huey-Yuhe Enterprise Co., Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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