Recent Statistics Popular Statistics Facebook: quarterly number of . This was attributed to rise in the fitness conscious people across the globe. 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. Are you interested in testing our business solutions? Pearls dropped by some bubble tea shops. The boba (bubble) alone is 150 calories. The high carbohydrate content of the bubbles can lead to an unhealthy diet. Last week, it was announced that Singapore will soon require food and beverage outlets to include nutrition labels on their menus to indicate drinks that contain higher levels of sugar and saturated fat. #1 HEYTEA Golden Osmanthus Oolong ($7.50) Photo from HEYTEA. The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. Save my name and email in this browser for the next time I comment. The forecast period in the global bubble tea market report is 2019-2027. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! Retrieved from http://chunshuitang.com.tw/3. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. The current valuation of the market is US$ 2.50 billion in 2022. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. New bubbly a hit with youth here. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. Your email address will not be published. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. As a Premium user you get access to the detailed source references and background information about this statistic. This service is not intended for persons residing in the E.U. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. Then you can access your favorite statistics via the star in the header. To use individual functions (e.g., mark statistics as favourites, set Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! At the end of the day, its not much worse than an occasional soda would be for the average person, but its important to remember to only have bubble tea once in a while. 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. 14. Show publisher information 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. In a survey of Singaporean bubble tea consumers in 2020, 69 percent of respondents stated that taste was their main consideration when purchasing bubble tea, while 61 percent stated price. Retrieved from NewspaperSG.7. Ho, S. B. "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. SINGAPORE From bubble tea shops to cake shops - these standalone food & beverage businesses considered as less critical will be not allowed to open from Tuesday 2359 hrs as part of stricter. The Straits Times, p. 4. Are you interested in testing our business solutions? Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. 11. A wide variety of teas, including black, green, oolong and earl grey tea are sold. statistic alerts) please log in with your personal account. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. The pandemic served as a natural selection process as many stores shut down. *Taxes/Fees, if applicable will be added during checkout. Tapioca balls or pearls are often added to the concoction as well. Your email address will not be published. The Straits Times, p. 8. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Advertising prohibitions will also apply to such drinks. For those looking to cut back on sugar, bubble tea may not be the best choice. 2023 Allied Market Research. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. Retrieved from NewspaperSG.11. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. The report was very accurate and as per my requirements. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. Book your free consultation and let our research experts help you with your needs/problems. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. 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 size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . Global Opportunity Analysis and Industry Forecast, 20202027. Aqilah still drinks the occasional bubble tea. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. The Straits Times, p. 78. to incorporate the statistic into your presentation at any time. Malaysia, Singapore, Vietnam and Indonesia consume three cups per person per month. Please contact the Library for further reading materials on the topic. 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. The bubble tea market in China is estimated to have an annual turnover of US$20 billion, saturating and hyper competitive.. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Get full access to all features within our Business Solutions. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. There are many varieties of the drink with a wide range of ingredients. Bubbling over. At what CAGR is the bubble tea market projected to grow in the forecast period (2023-2030)? The added sugar in the cooking process can ramp up the balls to an estimate of 160 calories per quarter-cup serving. Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. Bubble tea also contains high sugar content, according to a study conducted by students at the Applied Food Science and Nutrition diploma course at the Temasek Polytechnic in Singapore. But the story of bubble tea in Singapore dates back almost three decades. The increase in bubble tea shops led to intense competition and price wars. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. 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. (October 22, 2019). The drink became popular during the 1990s, just in time for millennials to develop a taste for it. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. Sweeter than soda? Bubble tea orders in Southeast Asia recorded a . In 1987, a staff member had the idea of adding. Furthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. As a Premium user you get access to the detailed source references and background information about this statistic. The consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. The nostalgic flavour of Uncle JiaJia liang teh has now taken the form of bubble tea! 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. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. (2002, January 13). The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. This beverage has undergone a few waves of popularity in Singapore. The peak of the fad was from March to October 2001, when shops reportedly sold as many as 800 to 1,000 cups a day.7 Major chains included Cool Station, Quickly and Milk Girl Ice Cup.8However, the drinks popularity also contributed to its downfall. 6. A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. Durai, J., & Poon, C. H. (2011, June 4). A. ", DBS Group Research, Number of bubble tea outlets in Singapore in 2019, by brand Statista, https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/ (last visited May 01, 2023), Number of bubble tea outlets in Singapore in 2019, by brand [Graph], DBS Group Research, October 22, 2019. According to Dr Tan Wee Yong, a consultant physician in Malaysia, it is recommended for a normal healthy adult to take no more than eight teaspoons of sugar a day, while a childs daily sugar intake should not be more than five teaspoons. In the next five years, the bubble tea industry is expected to grow by nearly 54%. . This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. (1993, September 24). The Straits Times, p. 3. However, it was only in 2001 that bubble tea became phenomenally popular. 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. New bubbly a hit with youth here. 15. Asia Pacific is expected to dominate the market during the forecast period. (1993, September 24). Learn more about how Statista can support your business. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. "Yet, few players have managed continuous profitability at a large scale." It cited. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. Another draw is the foamed tea. Bubbly and book fun. Ho, M., & Boey, D. (2001, June 29). A bubble tea. A file photo showing cups of bubble tea. Chart. And if youre looking for all the facts and figures that back up our claim, you have this blog post. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. 4. Its not difficult to observe and learn their play and strategy, but whats more important is to ensure positive unit economics and good return on investment., Be among the first to know the Breaking news. To use individual functions (e.g., mark statistics as favourites, set We dont recommend anyone making it a daily indulgence. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. 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. It looks quite comprehensive and the data is exactly what I was looking for. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. Currently, you are using a shared account. Upgraded but still having issues? 7. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. February 11, 2020. 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. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. Need to talk to an expert? Previously, tea was usually served hot, so it was considered a novel idea to cool the tea with ice and mix it with various ingredients. However, it added that the supply chain for bubble tea stores can be more challenging than e-commerce due to the high demand for the freshness of raw materials. According to research firm Allied Market Research, the global bubble tea market will jump from US$1.96 billion in 2016 to reach US$3.21 billion by 2023. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. Gong Cha, for instance, was founded in 2006 in Taiwan. Retrieved from NewspaperSG.5. Junction. Such challenges cumulatively hamper the growth potential of the global market. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite!

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