Bubble Tea Global Market Report 2024

Description

“Bubble Tea Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on bubble tea market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for bubble tea? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The bubble tea market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: Lollicup Inc.; CuppoTee Company; Bubble Tea House Company; Ten Ren's Tea Co. Ltd.; Boba Box Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Bubble tea, also known as boba milk tea, originates from Taiwan and is a chilled, creamy beverage crafted with a tea base mixed with flavors, sweeteners, or milk, typically accompanied by tapioca pearls nestled at the drink's base.

The primary variations of bubble tea revolve around different tea bases, including black tea, green tea, oolong tea, white tea, among others. Black tea, distinguished by its higher oxidation level derived from the Camellia sinensis plant, presents a range of flavors such as original, fruit-infused, coffee-based, chocolate-infused, and more. Its components generally encompass flavorings, creamers, sweetening agents, liquid bases, tapioca pearls, and other optional additives.

The bubble tea market research report is one of a series of new reports from The Business Research Company that provides bubble tea market statistics, including bubble tea industry global market size, regional shares, competitors with a bubble tea market share, detailed bubble tea market segments, market trends and opportunities, and any further data you may need to thrive in the bubble tea industry. This bubble tea market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The bubble tea market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.12 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. Historical growth was driven by several factors, including the influence of culture, particularly in the context of youth appeal and trendiness, the emphasis on variety and customization, the pervasive impact of social media and marketing strategies, and a notable shift in consumer preferences toward health-conscious choices. These elements collectively contributed to the growth observed during that period in the bubble tea industry.

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%. Anticipated growth in the forecast period is expected to stem from various factors, including an expanded menu with diversified offerings, endorsements from celebrities and influencers, the integration of mobile ordering and delivery services, a heightened focus on sustainability initiatives, and the pursuit of specialty and premiumization strategies within the bubble tea market.

The surge in tea consumption worldwide is anticipated to significantly propel the growth trajectory of the bubble tea market. As a widely popular beverage derived from Camellia sinensis plant leaves, tea has experienced a recent surge in demand owing to its perceived health benefits and versatile nature. This heightened interest in tea has sparked a growing preference for unique tea-based beverages such as bubble tea. Consequently, the increasing populace seeking this distinctive refreshment is expected to be a catalyst for the burgeoning bubble tea market. Statistics from reputable entities, such as the Tea Association of the USA Inc. and the International Tea Committee, underscore the substantial rise in tea consumption by over 113% to 6.7 million metric tons in 2022, a notable surge over the past two decades. Such an upswing in tea consumption is poised to steer the growth of the bubble tea market.

The burgeoning trend towards healthier dietary preferences is set to act as a significant impetus for the expansion of the bubble tea market. Consumers' increasing inclination towards healthier food options has led to a shift in consumption patterns, prompting many bubble tea establishments to offer reduced-sugar or sugar-free alternatives. This strategic move caters to the needs of health-conscious individuals seeking to relish bubble tea without compromising on excessive sugar intake. Notably, a report from The British Nutrition Foundation in 2021 highlighted that 62% of Britons have adapted their diets towards healthier choices. This shift in consumer behavior underpins the driving force behind the upward trajectory of the bubble tea market.

Companies operating in this sector are actively introducing novel variations of bubble tea to secure a prominent market stance. For instance, Del Monte Foods, a prominent US-based food production and distribution entity, unveiled its latest creation, JoybaTM Bubble Tea, in October 2021. This innovative beverage promises a unique and enjoyable experience by infusing bursts of fruity, exploding boba into the tea, devoid of artificial flavors or sweeteners. Available in various tea bases such as green, black, and hibiscus, each 12-ounce cup boasts genuine fruit flavors, with options catering to caffeine-free preferences. This relentless pursuit of innovation underscores the strategic approach adopted by companies to captivate consumer interest and foster market growth.

Collaborative ventures and strategic partnerships have emerged as pivotal strategies for major players in the bubble tea market to enhance profitability and market presence. These partnerships, aimed at achieving specific business objectives, mirror the industry's focus on innovation and expansion. An illustrative example is the recent partnership announced in January 2023 between Zest Food Partners and TeaJoy, both prominent UK-based entities. This collaboration aims to democratize access to bubble tea across the UK, tapping into one of the nation's fastest-growing beverage sectors. The alignment of shared objectives between these entities emphasizes the pivotal role of partnerships in driving market penetration and consumer accessibility for bubble tea.

In 2021, Jollibee Foods Corporation (JFC) acquired a majority stake in Milkshop International. The acquisition allows Jollibee Foods Corporation to participate in this rapidly growing beverage category. Milkshop International Co. Ltd. is a Taiwanese-based specialty tea operator, including bubble tea.

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, CAFE 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 The, Nayuki, OneZo, Presotea, Quickly, Royaltea, Sharetea, The Alley, The Tea Terrace, The Whale Tea

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

The countries covered in the bubble tea market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The bubble tea market consists of sales of teas without milk and milk teas. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11581

1. Executive Summary

2. Bubble Tea Market Characteristics

3. Bubble Tea Market Trends And Strategies

4. Bubble Tea Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Bubble Tea Market Size and Growth

5.1. Global Bubble Tea Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Bubble Tea Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Bubble Tea Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Bubble Tea Market Segmentation

6.1. Global Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Black Tea
Green Tea
Oolong Tea
White Tea
Other Types
6.2. Global Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Original
Fruit
Coffee
Chocolate
Other Flavors
6.3. Global Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Flavor
Creamer
Sweetener
Liquid
Tapioca Pearls
Other Components

7. Bubble Tea Market Regional And Country Analysis

7.1. Global Bubble Tea Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Bubble Tea Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Bubble Tea Market

8.1. Asia-Pacific Bubble Tea Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Bubble Tea Market

9.1. China Bubble Tea Market Overview
9.2. China Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Bubble Tea Market

10.1. India Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Bubble Tea Market

11.1. Japan Bubble Tea Market Overview
11.2. Japan Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Bubble Tea Market

12.1. Australia Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Bubble Tea Market

13.1. Indonesia Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Bubble Tea Market

14.1. South Korea Bubble Tea Market Overview
14.2. South Korea Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Bubble Tea Market

15.1. Western Europe Bubble Tea Market Overview
15.2. Western Europe Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Bubble Tea Market

16.1. UK Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Bubble Tea Market

17.1. Germany Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Bubble Tea Market

18.1. France Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Bubble Tea Market

19.1. Italy Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Bubble Tea Market

20.1. Spain Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Bubble Tea Market

21.1. Eastern Europe Bubble Tea Market Overview
21.2. Eastern Europe Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Bubble Tea Market

22.1. Russia Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Bubble Tea Market

23.1. North America Bubble Tea Market Overview
23.2. North America Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Bubble Tea Market

24.1. USA Bubble Tea Market Overview
24.2. USA Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Bubble Tea Market

25.1. Canada Bubble Tea Market Overview
25.2. Canada Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Bubble Tea Market

26.1. South America Bubble Tea Market Overview
26.2. South America Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Bubble Tea Market

27.1. Brazil Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Bubble Tea Market

28.1. Middle East Bubble Tea Market Overview
28.2. Middle East Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Bubble Tea Market

29.1. Africa Bubble Tea Market Overview
29.2. Africa Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Bubble Tea Market Competitive Landscape And Company Profiles

30.1. Bubble Tea Market Competitive Landscape
30.2. Bubble Tea Market Company Profiles
- 30.2.1. Lollicup Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. CuppoTee Company
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Bubble Tea House Company
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Ten Ren's Tea Co. Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Boba Box Limited
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

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

34.1 Bubble Tea Market In 2028 - Countries Offering Most New Opportunities
34.2 Bubble Tea Market In 2028 - Segments Offering Most New Opportunities
34.3 Bubble Tea Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer