The bubble tea market size is expected to see strong growth in the next few years. It will grow to $4.29 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to menu diversification, celebrity and influencer endorsements, mobile ordering and delivery, sustainability initiatives, specialty and premiumization. Major trends in the forecast period include specialty and limited edition offerings, health and wellness focus, customization and personalization, sustainability initiatives, fusion and experimentation..
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Segmentation & Regional Insights
The bubble tea market covered in this report is segmented –
1) By Type: Black Tea, Green Tea, Oolong Tea, White Tea, Other Types
2) By Flavor: Original, Fruit, Coffee, Chocolate, Other Flavors
3) By Component: Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, Other Components
Asia-Pacific was the largest region in the bubble tea market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global bubble tea market during the forecast period. The regions covered in the bubble tea market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in tea consumption is expected to propel the bubble tea market going forward. Tea is a beverage created by pouring hot water over dried and chopped leaves and sometimes blossoms, most notably from the Camellia sinensis plant. Tea has long been a popular beverage across the world, and its popularity has increased rapidly in recent years due to its numerous health advantages and adaptability. With rising popularity of tea, customers are expected to seek for new and novel tea-based beverages, such as bubble tea. As more individuals seek out this distinctive and refreshing beverage, this trend is projected to fuel development in the bubble tea market. Furthermore, the rise of specialty tea shops and the availability of online ordering has made it easier than ever for consumers to discover and enjoy bubble tea. For instance, according to the Tea Association of the USA Inc. a US-based authority on tea states that, the American tea market expanded. The overall amount of tea imported is up more than 8% as of September, with black tea imports exceeding those of the previous year by more than 9%. Additionally, the International Tea Committee (ITC), a UK-based organization, reports that tea consumption has increased 113% to 6.7 million metric tons in 2022, more than doubling in the previous 20 years. Therefore, a rise in the consumption of tea will drive the bubble tea market.
Key Industry Players
Major companies operating in the bubble tea market report are Lollicup Inc., CuppoTee Company, Bubble Tea House Company, Ten Ren’s Tea Co. Ltd., Boba Box Limited, Sumos Sdn Bhd, Troika JC., Fokus Inc., Tea Time, Kuaikeli Enterprise Co. Ltd., COCO International Co. Ltd., Kung Fu Tea, Gong Cha, CAFÉ POS LLC, Kevito Ltd., Qbubble Troika J C Inc., Ichibanya Co. Ltd., Biju Bubble Tea, Bubbleology, Chatime, Comebuy, Ding Tea, Fanale Drinks, Happy Lemon, Heytea, Koi Thé, Nayuki, OneZo, Presotea, Quickly, Royaltea, Sharetea, The Alley, The Tea Terrace, The Whale Tea
The bubble tea market report table of contents includes:
1. Executive Summary
2. Bubble Tea Market Characteristics
3. Bubble Tea Market Trends And Strategies
4. Bubble Tea Market – Macro Economic Scenario
5. Global Bubble Tea Market Size and Growth
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31. Global Bubble Tea Market Competitive Benchmarking
32. Global Bubble Tea Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Bubble Tea Market
34. Bubble Tea Market Future Outlook and Potential Analysis
35. Appendix
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