Global Bubble Food & Beverages Market Size, Share, Growth Analysis, By Product(Fruits Snacks, Desserts), By Source(Tapioca-based, Bursting Bubbles) - Industry Forecast 2024-2031

Global Bubble Food & Beverages Market size was valued at USD 4.45 Billion in 2022 and is poised to grow from USD 4.87 Billion in 2023 to USD 9.99 Billion by 2031, at a CAGR of 9.40% during the forecast period (2024-2031).

Social media has significantly contributed to the widespread popularity of bubble tea, evident in the 3,000% surge in bubble tea orders on GrabFood due to its immense popularity in Southeast Asia, where GrabFood boasted nearly 4,000 bubble tea restaurants as of May 2021, marking a notable 200 percent increase in outlets. This expansion is further fueled by the escalating demand for snacks and beverages featuring boba. Moreover, the rise in demand for bubble tea is paralleled by a broader trend of consumers opting for healthier beverage choices over carbonated options. For example, Bubble Tea Club secured a substantial $1.1 million investment in June 2021 to cater to its expanding consumer base. The industry's growth is also propelled by manufacturers' efforts to innovate, driven by increased investments in research and development and heightened consumer awareness regarding the benefits of products containing natural, organic, and vegan tapioca pearls. Notably, companies like Botanist are capitalizing on this trend by introducing new offerings like blue-hued boba tea made with pea-based milk in their in-store cafe menus, as seen in Tokyo's Harajuku neighborhood in August 2021, thereby diversifying their product range to include bubble tea. Additionally, the surge in popularity of bubble tea and related products like exploding boba and bubble foods and drinks can be attributed to the wide array of sauces, toppings, flavors, and texture combinations available, catering to diverse consumer preferences.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Bubble Food & Beverages Market 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 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.

Global Bubble Food & Beverages Market Segmental Analysis

Global Bubble Food & Beverages Market is segmented on the basis of product, source, distribution channels and region. By product, the market is segmented into fruits snacks, desserts, bubble tea, and others. By source, the market is segmented into tapioca-based and bursting bubbles. by distribution channels, the market is segmented into off trade and on trade. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Bubble Food & Beverages Market

The market offers an extensive range of tea flavors and varieties, such as black, fruit-infused, and green jasmine tea, catering to diverse preferences. Fruit-infused tea encompasses a spectrum of flavors, from sweetened fruit blends to creamy fruit-infused concoctions. For lactose-intolerant individuals, options like black tea and green jasmine tea remain suitable alternatives. The abundance of boba tea options enhances consumer choice and contributes to the expansion of customer base, reflecting an effective marketing strategy. Moreover, companies are actively innovating, introducing new flavor combinations and blends to captivate customers' interest.

Restraints in the Global Bubble Food & Beverages Market

The increasing popularity of novel tea beverages faces a challenge due to the wide availability of alternative caffeinated drinks like coffee, especially given the prevailing trends in coffee consumption in Western countries. Coffee, now widely utilized as an energy booster, has seen its accessibility as a convenient ready-to-drink option improve to cater to the demands of busy consumers. A plethora of innovative coffee categories, including cold brew, snap chilled, and effervescent canned coffee, further enrich the coffee market, offering diverse choices to consumers.

Market Trends of the Global Bubble Food & Beverages Market

The emergence of social media has profoundly influenced the food and beverage sector, with the bubble tea market experiencing a notable effect. Numerous bubble tea establishments and cafes have garnered substantial online followings by crafting visually captivating beverages meant for sharing and snapping photos. These concoctions frequently showcase vivid hues, imaginative toppings, and unconventional serving containers, catering to the aesthetic preferences of social media users.