It looks quite comprehensive and the data is exactly what I was looking for. In, DBS Group Research. The Straits Times, p. 30. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Retrieved from NewspaperSG.2. An average, medium-sized serving of bubble tea has, on average, 335 calories. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. 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 is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. The global bubble tea market was valued at US$1.96 billion (S$2.67 billion) in 2016 and is projected to reach US$3.21 billion by 2023, according to research firm Allied Market Research. Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. Market to Boom As Consumers Seek Versatile Teas with Innovative Bold Flavors. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. You only have access to basic statistics. The Straits Times, p. 8. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. The data offered to us was exactly what we were looking for. Show publisher information Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls from Taiwan, hinders the production process and impacts their overall operations. 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 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. The Straits Times, p. 73. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. Bubble tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit flavored, black tea-based milk tea, and green jasmine, across the globe. To use individual functions (e.g., mark statistics as favourites, set Register in seconds and access exclusive features. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. The Straits Times, p. 78. 16 Bubble Tea Statistics to Calm Your Cravings - Soocial 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. By continuing to visit this site you agree to our use of cookies . Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. In addition, the companies are focusing on the growing incidences of lactose intolerance, and thus are working toward introducing lactose-free bubble milk tea options for individuals. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. 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, 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. There is also a wide selection of items that can be added to the tea; for instance, pearls, pudding and jelly. According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. (2001, August 31). Retrieved from NewspaperSG.9. Young people between ages 20 and 29 are interested in bubble tea. The bubbles are made from tapioca and have high carbohydrate content. Please create an employee account to be able to mark statistics as favorites. 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. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. This file photo shows a group of girls drinking bubble tea. Teens use tea house notice board to talk to each other. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! The Great Singapore Bubble Tea Mania | campus.sg Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar new tea drinks, with Singapore having the highest spending power despite its smallest population among the region's six key markets. A. Remarkable job and great efforts by your research team. The increase in bubble tea shops led to intense competition and price wars. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. [Online]. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. I have feedback on this infopedia article: Bubble tea. The increase in bubble tea shops led to intense competition and price wars.9 Slashed prices, one-for-one offers and even lucky draw promotions were used to entice customers. 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. Please contact the Library for further reading materials on the topic. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. Profit from the additional features of your individual account. 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 such similar drinks, owing to the ever-growing demand from youth. Tea - Singapore | Statista Market Forecast Copyright Mediacorp 2023. For instance, in April 2022, U.S.-based start-up Bubluv Inc. launched tapioca starch and konjac-based boba tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. 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. Get full access to all features within our Business Solutions. Please do not hesitate to contact me. 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 . 87% of American millennials drink tea, including bubble tea. One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. Since our launch, weve worked on more than 1,000 projects for clients around the world. Need to talk to an expert? 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). Learn more about how Statista can support your business. All rights reserved. Bubbling over. As soon as this statistic is updated, you will immediately be notified via e-mail. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. As soon as this statistic is updated, you will immediately be notified via e-mail. This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. Whats your favorite bubble tea base to start with? "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Bubble tea drinks are designed to appeal to younger consumers as a way for brands to be part of viral food trends. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. According to the study, there are three underlying fundamentals to building a successful bubble tea business. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. A. Business Solutions including all features. Single User License, Five User License & Enterprise User License.
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