Bubble Tea Market Current Scenario and Future Prospects | Kung Fu Tea, Gong Cha, Fokus
Published Via 11Press : A Taiwanese tea-based beverage that dates back to the 1980s is known as bubble tea, often referred to as pearl milk tea or boba tea. commonly, it is made comprised of a sweetened tea base (commonly black or green tea), milk or non-dairy creamer, and tapioca pearls or other flavorful toppings that are sucked up through a long straw. In addition to being created with fruit juices, fruit syrups, or by blending ice and water to create a drink that resembles a slushie, bubble tea can also be served hot or cold. The tapioca pearls also known as boba are often prepared from cassava starch and have a chewy consistency that is comparable to gummy sweets. In specialised tea stores and cafés all around the world, bubble tea has grown in popularity.
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Bubble Tea Market Report Highlights:
| Attributes | Details |
| Study Period | 2018-2028 |
| Base Year | 2022 |
| Current Value (2022) | USD 2.15 Billion |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Chatime, CoCo Fresh Tea & Juice, Fanale Drinks, Fokus, Grand Chainly Enterprise, Gong Cha, Huey-Yuhe Enterprise, Kung Fu Tea, Lollicup Coffee & Tea, Quickly Bubble tea |
The market for bubble tea is anticipated to grow at a CAGR of 7.54% from 2017 to 2028, according to HTF Market Intelligence.
This expansion is mostly fueled by One of the main elements supporting a good outlook for the market is the enormous worldwide expansion of the food and beverage sector. Market expansion is also being driven by the public’s rising health consciousness and understanding of the advantages of routine bubble tea intake. Particularly among younger people, bubble tea has become a popular beverage. Those who appreciate trying new and diverse meals and drinks are drawn to its distinctive blend of flavours and sensations. In order to appeal to customers who are health-conscious, many bubble tea restaurants provide customisable alternatives, such as sugar-free, dairy-free, and gluten-free options. In order to appeal to customers who are health-conscious, several bubble tea restaurants have started employing natural and organic ingredients. With its popularity expanding to several nations throughout the world, bubble tea has emerged as a global phenomenon. As a result, regional variants that suit local preferences and tastes have emerged.
Breakdown by Type:
- Milk Tea
- Black Tea
- Fresh Fruit Tea
- Smoothies
- Milkshakes
By Component:
- Creamer
- Sweetener
- Liquid
- Tapioca Pearls
By Flavour:
- Original Flavour
- Coffee Flavour
- Fruit Flavour
- Chocolate Flavour
By Distribution Channels:
- Online
- Offline
Major players such as:
- Chatime
- CoCo Fresh Tea & Juice
- Fanale Drinks
- Fokus
- Grand Chainly Enterprise
- Gong Cha
- Huey-Yuhe Enterprise
- Kung Fu Tea
- Lollicup Coffee & Tea
- Quickly Bubble tea
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The existence of several well-known and up-and-coming companies, as well as a wide variety of product options, pricing points, and distribution methods, contributes to the competitive nature of the bubble tea industry. The most well-known bubble tea companies benefit from a competitive edge in terms of luring and keeping customers thanks to their solid reputations and brand awareness.
Major Developments Activities in the Market:
- Gong Cha Tea, a global bubble tea franchiser with more than 1,300 locations, spent USD 6.25 million on May 20, 2022, for an industrial property in Hauppauge.
- The company is relocating from leased space at 206 Terminal Drive in Plainview to a 31,000-square-foot structure on 1.77 acres at 25 Power Drive in order to expand.
- A New York-based start-up that aims to create delicious, practical, healthier Asian-inspired foods and beverages has announced today the launch of its eagerly-awaited BUBLUV Bubble Tea, the first ready-to-drink healthier boba substitute that has less than 50 calories per bottle and no added sugar.
- BUBLUV Bubble Tea, which is only available right now on BUBLUV.com, has a somewhat sweet and energising flavour.
Market Growth Drivers:
- One of the main elements supporting a good outlook for the market is the enormous worldwide expansion of the food and beverage sector.
- Market expansion is also being driven by the public’s rising health consciousness and understanding of the advantages of routine bubble tea intake.
- Particularly among younger people, bubble tea has become a popular beverage.
- Those who appreciate trying new and diverse meals and drinks are drawn to its distinctive blend of flavours and sensations.
- In order to appeal to customers who are health-conscious, many bubble tea restaurants provide customisable alternatives, such as sugar-free, dairy-free, and gluten-free options.
- In order to appeal to customers who are health-conscious, several bubble tea restaurants have started employing natural and organic ingredients.
- With its popularity expanding to several nations throughout the world, bubble tea has emerged as a global phenomenon.
- As a result, regional variants that suit local preferences and tastes have emerged.
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Restraints:
- Several variables are limiting the market’s ability to grow and expand.
- Drinks made with bubble tea frequently have significant sugar content, which may worry consumers who care about their health.
- As more customers become aware of the possible health dangers, the high calorie and sugar content of bubble tea beverages may cause a fall in demand.
- As more and more bubble tea businesses sprout up around the country, the bubble tea market is becoming more and more congested.
- This can result in more pricing pressure and competition, which might affect how profitable the market’s companies are.
- Consumer tastes are erratic, so what is fashionable now could not be so tomorrow.
- There may be a drop in demand for bubble tea if customer preferences change.
Opportunities:
- The bubble tea market presents several chances for growth, including adopting the most recent health and wellness trends, innovation, online and mobile ordering, market expansion, and joint venture options.
- Bubble tea cafes have the potential to capture this market by offering better options including sugar-free, low-calorie, and plant-based beverages as more consumers become health-conscious.
- Due to the expansion of online and mobile ordering, consumers can now purchase bubble tea more conveniently, and this trend is expected to continue. Businesses that sell bubble tea may benefit from this fad by investing in user-friendly ordering systems that make it simple for customers to place orders and pay for their beverages.
- Despite the fact that bubble tea has grown in popularity across many countries, there are still a lot of unexplored sectors that have the potential to be developed.
- By tailoring their products and marketing strategies to local tastes and inclinations, bubble tea enterprises may expand into new areas.
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