Global Bubble Tea Market Size, Share, Growth Analysis, By Base Ingredient (Black Tea, Green Tea), By Flavors (Original Flavor, Fruit Flavor), By Component (Flavor, Creamer)

Description

Global Bubble Tea Market size was valued at USD 2.52 billion in 2021 and is poised to grow from USD 2.75 billion in 2022 to USD 5.42 billion by 2030, growing at a CAGR of 8.9% in the forecast period (2023-2030).

The global bubble tea market is experiencing significant growth. Bubble tea, also known as boba tea, is a popular beverage that originated in Taiwan. It is made with tea, milk, and chewy tapioca pearls or other flavored jelly-like toppings. The market expansion is driven by factors such as increasing consumer demand for unique and exotic beverages, innovative flavors, and the growing popularity of tea-based drinks. Rising disposable income, changing lifestyles, and the influence of social media have also contributed to the market's growth.

Top-down and bottom-up approaches were used to estimate and validate the size of Bubble Tea and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

Global bubble tea market is segmented on the basis of base ingredient, flavours, component and region. By base ingredient, the market is segmented into black tea, green tea, oolong tea, and white tea. By flavours, market is segmented into original flavor, fruit flavor, coffee flavor, chocolate flavor. By component, market is segmented into flavor, creamer, sweetener, liquid, tapioca pearls, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Driver

The market provides a wide range of options and variations, including fruit-infused, green jasmine, and black teas. There are diverse fruit-infused cream options available, such as sweetened fruit beverages and fruit-infused cream drinks. Individuals who are lactose intolerant can opt for black, green jasmine, or other non-dairy tea alternatives. The abundance of boba tea varieties allows consumers to have additional choices, aiding in attracting more customers. This marketing strategy not only introduces new flavors and formulas but also appeals to millennials who seek premium tea varieties with unique flavor options, thereby contributing to market growth.

Restrain

The growing demand for tea as an innovative beverage faces obstacles due to the wide availability and popularity of other caffeinated beverages, like coffee, particularly in Western countries. Coffee consumption has increased as more individuals incorporate it into their diets for its energy-boosting properties and convenience in their busy lifestyles. Various creative coffee options are available, including cold brew, snap chilled, nitro cold brew, and effervescent canned coffee, catering to customer preferences. Moreover, the extensive range of coffee flavors such as butterscotch, hazelnut, caramel, and vanilla hinder the global growth of tea consumption.

Trend

A significant trend in the bubble tea market is the introduction of novel flavors. Market players have introduced a wide array of flavors, ranging from sweet options like peach and strawberry to unique choices like almond and chocolate, providing consumers with abundant selection. This diversity in flavors helps attract customers with different preferences. For instance, McDonald's Corp., a quick-service restaurant, introduced two new bubble tea flavors in June 2021: a malty chocolate Ovaltine flavor and an aromatic matcha flavor.

Product Code: SQMIG30G2026

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Bubble Tea Market by Base Ingredient

Market Overview
Black tea
green tea
oolong tea
and white tea

Global Bubble Tea Market by Flavours

Market Overview
Original flavor
fruit flavor
coffee flavor
chocolate flavor

Global Bubble Tea Market by Component

Market Overview
Flavor
creamer
sweetener
liquid
tapioca pearls
and others

Global Bubble Tea Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Chatime Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Gong Cha
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Coco Fresh Tea & Juice
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Koi The
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Tiger Sugar
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Heytea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ten Ren Tea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sharetea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Happy Lemon
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Vivi Bubble Tea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TP Tea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Ding Tea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Presotea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chun Shui Tang
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Comebuy
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Boba Guys
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Alley
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
OneZo Tapioca
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Biju Bubble Tea Bar
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bober Tea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Bubble Tea Market Size, Share, Growth Analysis, By Base Ingredient (Black Tea, Green Tea), By Flavors (Original Flavor, Fruit Flavor), By Component (Flavor, Creamer) - Industry Forecast 2023-2030