Nigeria, specifically, has become a hub for cassava production. When you look at the marketing for bubble tea, the numbers make sense. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. The price per unit in the out-of-home market always references the total price over the amount of tea consumed, regardless of the other components of the finished beverage. Future Market Insights Global and Consulting Pvt. 1.In 2019, 64% of Americans aged 18 and over drank coffee every day. And if youre looking for all the facts and figures that back up our claim, you have this blog post. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Synthetic Food Colors Market Outlook: The global synthetic food colors market size is estimated to be valued at US$ 590 Mn in 2022 and is further expected to grow at a CAGR of 6% between 2022 and 2032, surpassing a valuation of US$ 1,066 Mn by the end of 2032. Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. Consumption of sugar sweetened and diet drinks in adults. More Insights into the Bubble Tea Market Report. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. This popular sweetened tea is made up of high-quality milk and tapioca pearls, along with fruit powder, creamer, and sweeteners. Whats your favorite bubble tea base to start with? Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. 12. In the Tea segment, volume is expected to amount to 18.6mkg by 2025. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Gong Cha, Kung Fu Tea, Lollicup USA, Tiger Sugar, Sharetea, Boba Guys, Tapioca Express, Cha Time, Ten Rens Tea Time, YiFang Bubble Tea, CoCo Fresh Tea & Juice, DaBoba, Happy Lemon, Quickly, Cojiitii, and others are some of the manufacturers of bubble tea profiled in the full version of the report. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. Tea is an aromatic beverage derived . According to the recent report by FMI, based on base ingredient type, the green tea segment is expected to dominate the market over the forecast period. Symptoms of . The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. 2. Global Demand for Coffee - Despite the demand for coffee in the United States, the country only ranks 25th in per capita coffee consumption. An average, medium-sized serving of bubble tea has, on average, 335 calories. The global COVID-19 pandemic has been unprecedented and staggering, with bubble tea experiencing lower-than-anticipated demand . (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. 10. 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. Due to social media, bloggers documenting their bubble tea experience, and other factors, bubble tea stores continue to flourish and expand their offerings in this region. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. 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. In global comparison, most revenue is generated in China (US$111,800.00m in 2023). Need to talk to an expert? Bubble milk tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. This cross-sectional study investigated the association between bubble tea consumption and symptoms of anxiety and depression in a population-based sample. Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. Tea stands were set up in front of the schools and would compete for business with the best selling tea. Bubble tea is a drink made from tea (usually black tea), milk, syrup, and a special ingredient that captivates the hearts of Chinese people: tapioca pearls. Mineral Premix Market Demand: The global mineral premixes market is expected to reach US$ 761.1 Mn by 2022, accelerating at a CAGR of 8.6% during the forecast period (2022-2032). In 2020, China dominated the tea market with 78.7 billion US dollars of revenue. Table I : Prevalence1 of Bubble Tea Consumption among Students in University of Cyberjaya according to Sociodemographic Descriptions Sociodemographic description Bubble tea consumption Consume, n (%) Do not consume, n (%) Total, n (%) . Until 2025, the tea market in Philippines is forecast to reach 109.79 million USD (in retail prices), thus increasing at a CAGR of 6.70% per annum for the period 2020-2025. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. Read More . Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes. Thank you for requesting a call back, our sales representative will get in touch with you shortly! China is a major bubble tea manufacturer. Your email address will not be published. Resistant Starch Market Size: The resistant starch market is valued at US$ 10.5 Bn in 2022 and is projected to grow at a CAGR of 6.6% during the forecast period, to reach a valuation of US$ 19.9 Bn by 2032. Among various flavors, fruit flavor is more popular, and this segment dominated the market in 2019. It looks like the bubble tea craze isn't going anywhere soonat least, according to GrabFood data that states bubble tea orders in Southeast Asia saw a 3,000 percent growth rate in 2018. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . The bubble tea industry is expected to reach $3.39 billion by 2027. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. 8. 1. Bubble Tea is a famous non-alcoholic beverage drink that first . However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. That means 24 countries have higher consumption rates that are worth targeting. In 2014, over 77% of the tea brewed in the United States was prepared using tea bags. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. The Asia Pacific market held the largest share and was valued at USD 0.90 billion in 2021. Each . 12 Consumption and Demand Forecast 12.1 Global Forecasted Demand Analysis of Deep Vein Thrombosis (DVT) Therapy 13 Forecast by Type and by Application (2023-2028) 13.1 Global Production, Revenue . Future Market Insights Inc.Christiana Corporate,200 Continental Drive,Suite 401, Newark,Delaware - 19713, USAT: +1-845-579-5705Report: https://www.futuremarketinsights.com/reports/bubble-tea-marketFor Sales Enquiries: sales@futuremarketinsights.comBrowse all Reports: https://www.futuremarketinsights.com/reportsLinkedIn|Twitter|Blogs. 03 Locally called "po po ch," Singapore has sold bubble tea since 1992. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Alcoholic Tea Market size is valued at USD 1,958.73 billion by 2028 and is expected to grow at a compound annual rate of 7.00% in the forecast period . Tartrazine Market Trend: Global tartrazine market is projected to reach a valuation of US$ 120 Mn in 2022, with demand growing at a 7.0% CAGR over the forecast period. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite! The size of the global Bubble Tea Market in 2019 was $2,407.6 million. The U.S. market is anticipated to register a prolific CAGR of 12.4% over the forecast period. A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. Bubble tea . Save my name and email in this browser for the next time I comment. Quinoline Yellow WS Market Analysis: The global quinoline yellow WS (water soluble) market is projected to reach a valuation of US$ 28.5 Mn in 2022, growing at a CAGR of 3.9% between 2022-2032. 16. It also offers a detailed analysis of the market size and growth rate for all possible market segments. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Over 95% of females in the united states have tried bubble tea, while 81% of males . After experiencing a downfall due to fierce market competition in 2003, the bubble tea market was revived in 2007 with the entry of several foreign brands. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today.