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However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. The availability of different types of milk tea offers numerous options for consumers to enjoy. To get the sample of bubble tea market report, click on the link (Please paste the link here). This is a decrease, compared to the growth of about 7.64% per year, registered in 2015-2019. Bubble tea has a milk base and includes ingredients like chewy tapioca balls, or fruit jelly and boba. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Australians drink tea and have afternoon tea and morning tea much the way the British do. Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room Consumer Shift toward Healthy Alternatives to Favor Growth. 4. 12. Essential Facts. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Bubble tea truly is an international drink! Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. Availability of a Wide Range of Products for Enticing Younger Generation to Boost Growth. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . How Much Is the Bubble Tea Industry Worth. Stir until the sugar has dissolved and the milk is well mixed in. In 2016, 19.4 per cent of On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. The Asia Pacific bubble tea market is expected to flourish with multiple market opportunities. 5. Request a Free sample to learn more about this report. It also offers a detailed analysis of the market size and growth rate for all possible market segments. The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Elementary school children would look forward to buying a cup of refreshing tea after a long, hard day of work and play. As per the latest report by FMI, the U.S. bubble tea market is expected to register a 12.4% CAGR during the forecast period. In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving bubble tea across the country. In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. Versatility in flavor, health benefits, and social media trends drive the market. 10. Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Bubble tea first appeared in Thailand ten years ago, but since has gone out of market trend, staged a strong comeback, and established itself in the region. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. A. Graph. US Coffee Statistics. Need to talk to an expert? Ask for Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-12310. In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Market size and forecast, by Base Ingredient, 2020-2028 7.3.9.2. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019. Quinoline Yellow WS Market Analysis: The global quinoline yellow WS (water soluble) market is projected to reach a valuation of US$ 28.5 Mn in 2022, growing at a CAGR of 3.9% between 2022-2032. Whats your favorite bubble tea base to start with? Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC. A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. Mineral Premix Market Demand: The global mineral premixes market is expected to reach US$ 761.1 Mn by 2022, accelerating at a CAGR of 8.6% during the forecast period (2022-2032). The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Bubble tea is also known as (Zhen Zhu Nai Cha) directly translates to pearl milk tea, but is also known as boba tea in . Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. Bubble Tea originated in Taiwan in the early 1980's at a small tea stand. Among participants, 647 (88%) consumed less . During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market is projected to grow from $2.29 billion in 2022 to $3.78 billion by 2029, at a CAGR of 7.40% in the forecast period, 2022-2029, 2020 Fortune Business Insights . It should be no surprise then that sugar is a primary ingredient in the drink. Tapioca balls or "pearls" are often added to the concoction as well. 5. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. It looks like the bubble tea craze isn't going anywhere soonat least, according to GrabFood data that states bubble tea orders in Southeast Asia saw a 3,000 percent growth rate in 2018. Tartrazine Market Trend: Global tartrazine market is projected to reach a valuation of US$ 120 Mn in 2022, with demand growing at a 7.0% CAGR over the forecast period. A. Between 2021 and 2028, the global tea market is expected to grow at a CAGR of 6.6%. The market is anticipated to be valued at US$ 46.0 Mn in 2032. 2023 Allied Market Research. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. (World Atlas)3.The USA ranks 11th among the countries with the highest caffeine consumption, with a rate of 200 mg per person per day. Young people between ages 20 and 29 are interested in bubble tea. For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and other similar new drinks, owing to the ever-growing demand from youth. Countries such as Vietnam and Taiwan are projected to have the largest sales. Health beneficial attributes such as low-fat, low-calorie content, and presence of anti-inflammatory properties are the key driving factors of the market. But did you know that there are six different types of bubble tea? Asia-Pacific (APAC) dominates the bubble tea market because of the high consumption of the bubble tea within the region. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Australia: 0.75 kg (1.65 lb) 17 In 2018, bubble tea made a 3,000 . From Farmer Welfare and Supply Chain to the Latest Trends, Tea Experts Share Insights. Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. Bubble milk tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. One such brand riding that success locally is Chatime, a Taiwanese-founded bubble tea business which chose Australia as its first-ever Western market almost 10 years ago in 2009. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. The Mayo Clinic state that up to 400 mg of caffeine a day is probably safe for most healthy adults. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! Boost your students confidence by putting their results next to the public's I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. The global organic tea market size was USD 820.8 million in 2019 and it is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. Overall, though tea registered. By continuing to visit this site you agree to our use of cookies . The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. Were guessing you already know what bubble tea is. Alcoholic Tea Market size is valued at USD 1,958.73 billion by 2028 and is expected to grow at a compound annual rate of 7.00% in the forecast period . 6. Bubble tea consumption statistics show that Thais drink six bubble teas per month. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Originating in Taiwan, the drink typically consists of tea, milk/cream, and sugar accompanied by tapioca pearls. Italy's economy contracted by 0.1 per centquarter-on-quarter in the final three months (Q4) of last year, thecountry's National Institute of Statistics (ISTAT) said.On a year-on-year basis, gross domestic product (GDP) in the quarterincreased by 1.4 per cent, against the originally estimated 1.7 percent, reports Xinhua news agency citing ISTAT . Request Now ! Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. Tea is considered the second most popular drink of choice worldwide. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, high popularity of tea-based fruity beverages, and high consumer preference. China is a major bubble tea manufacturer. After experiencing a downfall due to fierce market competition in 2003, the bubble tea market was revived in 2007 with the entry of several foreign brands. 84% of the tea that is consumed is black tea. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. info@pearllemongroup.com. One concession owner became popular with her . The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Based on the base ingredient, green tea will lead the market growth over the forecast period. Find your information in our database containing over 20,000 reports, Consumer Market The out-of-home market, also called on-trade market, away-from-home market or HORECA encompasses all sales to hotels, restaurants, catering, cafs, bars and similar hospitality service establishments. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Lycopene Food Colors Market Growth: The overall demand for lycopene food colors is slated to grow at a prolific CAGR of 10.7% during the forecast 2022-2032, totaling US$ 257 Mn by 2032. Start reading instantly ,This Report and over 19,845+ more Reports, Available with Avenue Library, T&C*, WRITE AN EMAIL help@alliedmarketresearch.com, U.S. - Canada :+1-800-792-5285 (Toll-free) Int'l : +1-503-894-6022 UK : + 44-845-528-1300.

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