Bubble Tea Market to Reach $4.3 Bn, Globally, by 2027 at 7.8% CAGR: Allied Market Research

PORTLAND, Ore., Jan. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Bubble Tea Market by Base Ingredient (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, and Others), and Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global bubble tea industry generated $2.4 billion in 2019, and is anticipated to generate $4.3 billion by 2027, witnessing a CAGR of 7.8% from 2020 to 2027.

Prime determinants of growth

Rise in health consciousness, surge in adoption of healthy beverages including green tea, oolong tea, black tea, and white tea among consumers, and consumption of flavored bubble tea among young generation drive the growth of the global bubble tea market. However, excessive inclusion of sugar content in drinks that causes health issues and trend of coffee consumption hinder the market growth. On the other hand, emergence of new flavors & blends along with increasing demand among young population for different types of teas present new opportunities in the coming years.

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Covid-19 Scenario

• The outbreak of the COVID-19 pandemic has had a slight negative impact on the growth of the global bubble tea market.
• The pandemic affected production, revenue, and supply chain of bubble tea industry.
• Lockdown restrictions, ban on import and export activities, and interruption in supply chain activities created several challenges.

The black tea segment to maintain its lead status throughout the forecast period

Based on base ingredient, the black tea segment accounted for the largest market share in 2020, holding more than two-fifths of the global bubble tea market, and is estimated to maintain its lead status throughout the forecast period. This is attributed to surge in awareness and health benefits including prevention of chronic diseases such as obesity, diabetes, cardiovascular disease, and cancer. However, the green tea segment is estimated to maintain the highest CAGR of 8.2% from 2020 to 2027, owing to increase in number of fitness conscious consumers across the globe.

The fruit flavor segment to dominate during the forecast period

Based on flavor, the fruit flavor segment accounted for more than three-fifths of the global bubble tea market in 2020, and is projected to continue to dominate during the forecast period. This is due to surge in number of vegan people and health consciousness consumers across the globe. However, the chocolate flavor segment would grow at the fastest CAGR of 8.4% from 2020 to 2027, owing to its ability to offer combined health benefits of both chocolate and bubble tea.

North America to maintain its dominant position by 2027

Based on region, North America accounted for more than half of the global bubble tea market in 2020, and is estimated to maintain its dominant position by 2027. This is attributed to rise in number of tea and coffee consumers in the region. However, Europe is estimated to maintain the highest CAGR of 8.7% from 2020 to 2027, owing to surge in tourism activities, health consciousness among young population, and prominence of the bubble tea in the region.

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Leading Market Players

• Bobabox Limited
• Bubble Tea House Company
• Cuppotee
• Fokus Inc.
• Gong Cha
• Lollicup USA, Inc.
• Sumo's (M) SdnBhd
• Ten Ren's Tea Time
• The Bubble Tea Company
• Troika JC.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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