Bubble Tea Market by Base Ingredient (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, and Others), and Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

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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. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. 

Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. There are many varieties of the drink with a wide range of ingredients. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly.

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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. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. 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. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

According to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide.

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According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. This can be attributed to change in preference of consumers toward healthy beverages and better taste. 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.

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Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe.

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By region, North America was the most prominent regional market in 2019. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. 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.

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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. 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.

The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current bubble tea market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.

• Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.

• In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities.

• The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. 

• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.

 Key Market Segments

• By Base Ingredient
  • Black Tea
  • Green Tea
  • Oolong Tea
  • White Tea
• By Flavor
  • Original Flavor
  • Coffee Flavor
  • Fruit Flavor
  • Chocolate Flavor
  • Others
• By Component
  • Flavor
  • Creamer
  • Sweetener
  • Liquid
  • Tapioca Pearls
  • Others
• By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Taiwan
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Saudi Arabia
    • South Africa
    • Turkey
    • Rest of LAMEA

 
Key Market Players

• 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
• Troika JC.