Rockville, MD, Jan. 13, 2025 (GLOBE NEWSWIRE) — According to a new research report compiled by Fact.MR, the global Bubble Tea Market is expected to reach a size of US$ 1.71 billion in 2024 and subsequently expand at a CAGR of 8.1% from 2024 to 2034.
More consumers are now preferring beverages made from natural ingredients, and the demand for innovative flavors has also been increasing substantially. Customization is the main reason these beverages have gained immense popularity of late. A tea base sets the flavor, which can be enhanced with fruit flavors such as mango and lychee, among others.
Global demand for bubble tea is also being driven by the rising consumption of tea and nootropic drinks among the working class and students, as well as the availability of zero-fat and low-calorie options in bubble tea stores. Bubble tea is increasingly popular in the food and beverage industry. Consumers’ increasing interest in innovative beverages with bold flavors is propelling the bubble tea market forward.
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Key Takeaways from Bubble Tea Market Study:
The global market for bubble tea is projected to expand at a CAGR of 8.1% from 2024 to 2034. The market is forecasted to climb to a value of US$ 3.72 billion by the end of 2034.
The market in the United States is expected to reach a value of US$ 179.3 million in 2024. China is analyzed to account for a market share of 48.7% in East Asia by the end of 2034.
Revenue from the sales of bubble tea in Japan is forecasted to reach US$ 248.9 million by the end of 2034. Sales of flavored bubble tea are evaluated to reach US$ 3.17 billion by the end of 2024.
“Bubble tea comes with several health benefits, and includes antioxidants that help combat cell damage. It has anti-inflammatory properties and potential benefits for cholesterol and triglyceride levels. These attributes are attracting consumers who are specifically looking for functional beverages,” says Fact.MR analyst.
Leading Players Driving Innovation in the Tea Market Study:
The Key Players in the Cage-Free Egg Industry include Kung Fu Tea; Ten Ren Tea, Inc.; Boise Boba; Woop Bubble Tea; Coco Tea; Empire Eagle Food Co.; Yen Chuan International Co., Ltd.; Gong Cha USA Ltd.; Quickly Corporation; BobaTea Factory; Possmei International Co., Ltd.; Bubble Tea House Company; Boba Guys, Inc.; Chatime; 8tea5; Tapioca Express, Inc.; The Inspire Food Company; TACHUNGHO; Sharetea.
Bubble Tea Industry News & Trends:
Leading companies in the bubble tea industry are concentrating on launching novel drinks with a variety of tastes, such as milk, dried fruit, apple, and many more. Because millennials are recognized for being willing to sample new flavors, manufacturers have the chance to launch new flavored drinks into the market.
Chill Bubble Tea provides kosher, halal, gluten-free, and gelatin-free bubble tea. Additionally, it produces tea specifically for consumers who are lactose intolerant and vegan.
By following stringent food hygiene regulations and procedures, Frothtea Bubble Tea recently received certification from the Singapore Food Agency. Additionally, it uses raw materials certified by Halal.
Using a variety of franchise formats and branches, Sharetea runs more than 450 outlets throughout 16 countries, including the US, Canada, the UK, Australia, Singapore, Malaysia, the Philippines, and Indonesia.
Tiger Sugar operates throughout America, Europe, Asia, Taiwan, and Oceania. By establishing branches in Germany, Korea, Afghanistan, Hong Kong, and other places, it is growing its business.
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Rising Café Culture and Social Media Influence Benefitting Bubble Tea Producers
Coffee shops and cafés are the fastest-growing foodservice industry segments, especially in South Asian and Pacific countries. Bubble tea consumption in this region is expected to rise due to its distinct flavors, convenience, and personalized needs. Bubble tea beverage sales are expected to increase as café culture becomes more popular and consumers demand innovative and unique foods.
Young consumers primarily drive the popularity of bubble tea. Bubble tea is becoming increasingly popular on Chinese social media platforms such as Weibo and Douyin (TikTok) due to its visually appealing nature. Many bubble tea shops in China use mobile ordering and payment systems, making purchases more convenient for tech-savvy customers.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the bubble tea market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the bubble tea market based on ingredient (black tea, green tea, oolong tea, white tea), flavor (unflavored, flavored), format (ready-to-drink, instant bubble tea mix kits), topping (tapioca pearls, popping boba, jellies), and distribution channel (business to business, business to consumer), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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