Demand in the bubble tea market is expected to reach US$ 2.3 Bn in 2021. Looking forward, Future Market Insights (FMI) expects the global bubble tea market size to reach US$ 5.5 Bn by 2031, exhibiting growth at 8.8% CAGR for 2021-31.
Bubble tea is made using black tea, green tea, oolong tea, or white tea. It has a milk base and includes chewy tapioca balls or boba and fruit jelly.
Sales of bubble tea or pearl milk tea is growing in response to the high demand for healthier alternatives to carbonated drinks. With demand forecast to grow at an impressive pace, the overall bubble tea market will represent 2% of sales registered in the tea industry in 2021.
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Tracing back its origin to Taiwan, bubble tea will continue witnessing immense popularity in East Asia. FMI forecasts Asia Pacific to hold dominant share in the market Demand for fruit flavored bubble tea is expected to rise higher, giving impetus to the overall market Among teas available, black tea will continue leading the market thanks to consumer preferences for healthy beverages
“Availability of bubble tea in a plethora of flavors has helped the sales to pick up in the last few years. While chewy tapioca balls have lesser calorie count, they are soaked in sugar which makes them less healthier. Given the scenario manufacturers are expected to experiment with various flavors and healthier versions of bubble tea incorporating green tea and other exotic flavors to retain consumers,” said a lead analyst at FMI.
Who is winning?
The bubble tea is a highly competitive one, wherein manufacturers are looking at expanding their footprint to gain edge over rivals. Besides this, there is ample focus on product launches as well. In both front, market players are engaging in creating awareness about bubble tea. Many even underscore the various health benefits and antioxidant properties to give tailwinds to sales.
FMI profiles some of the leading companies operating in the bubble tea market. These include Chatime, OCOCO International Co., Ltd., Quickly Corporation, Gong Cha USA, Boba Guys, Inc., ZEEKEI GmbH, Sharetea, VIVI BUBBLE TEA, 8tea5, Kung Fu Tea, Ten Ren Tea, Inc., Lollicup USA, Inc., Tapioca Express, Inc., Boise Boba, and Woop Bubble Tea.
Bubble Tea Market by Category
By Base Ingredient:
- Black Tea
- Green Tea
- Oolong Tea
- White Tea
- Others
By Flavour:
- Original
- Flavored
- Nut-Flavoured
- Chocolate
- Fruit
- Honey
- Mocha
- Coconut
- Caramel
- Vanilla
By Sugar Content:
- Regular
- Reduced Sugar/Sugar Free
By Format:
- Ready-to-Drink (RTD)
- Instant Mixes
By Toppings:
- Pearl
- Grass Jelly
- Coconut Jelly
- Red Bean
- Multiple/Others
By Distribution Channel:
- Direct (B2B)
- Indirect (B2C)
- Hypermarket/Supermarket
- Convenience Stores
- Grocery Retailers
- Grocery Retailers
- Wholesale
- Other Store based Retailing
- Online Reatailing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Key Questions Answered in the Report
- What is the bubble tea market size?
The global bubble tea market size is expected to reach US$ 2.3 Bn in 2021. By 2031, the market value is poised to surpass US$ 5.5 Bn at 8.8% CAGR.
- What is the most popular bubble tea flavor?
Chocolate bubble tea, followed by nut-flavored bubble tea is most popular in the market.
- What are the key trends shaping the bubble tea market?
High demand for flavored beverages derived from natural ingredients is encouraging flavor innovation in the bubble tea market. Consequently, some of the leading bubble tea brands are emphasizing on frequent product launches, which is expected to remain key trend in the market.
- Who are the leading players in the bubble tea market?
Top players in the bubble tea market are Cha Time, Bubble Tea Supply Inc., Gong Cha, CoCo Fresh, Quickly, Kung Fu Tea, Tiger Sugar Korea, Boba Loca, Happy lemon, Lollicup USA, Inc., Share Tea. Key players accounted for around 40% of market share in 2020.
- How was post-COVID bubble tea market performance?
Despite supply chain disruptions witnessed amid COVID-19, the bubble tea market registered 7.5% year on year growth in 2021.
- What is the North America bubble tea market outlook?
The bubble tea market in North America will grow by 7.6% CAGR between 2021 and 2031.
- What is the Europe bubble tea market outlook?
The Europe bubble tea market will register growth at 7.6% CAGR through 2031.
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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