Bubble Tea Industry Overview

The global bubble tea market was valued at USD 2.75 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030. A key driver of this market growth is the increasing consumption of tea and coffee as nootropic beverages, particularly among working professionals and students. These beverages are often favored for their low-calorie content and zero fat, which are attractive qualities for health-conscious consumers. Additionally, the rising popularity of various types of hot beverages is expected to further boost the demand for bubble tea. Health experts have also indicated that moderate consumption of such beverages can improve concentration and brain function, making bubble tea an appealing option for those seeking functional drinks. Its unique taste and the availability of a wide range of flavors, including fruit, coffee, chocolate, and classic varieties, are further contributing to its growing popularity.

Bubble tea is typically made with ice, flavored syrups, and sugar, which sets it apart from other beverages. The increasing preference for tea, coffee, and other flavored drinks over carbonated beverages is expected to drive demand for bubble tea during the forecast period. However, the market experienced slower growth during the COVID-19 pandemic due to widespread lockdowns in major cities, which led to supply chain disruptions and a shortage of raw materials. The production of tapioca pearls, a key ingredient in bubble tea, was halted during the pandemic, negatively impacting market growth. Despite these challenges, bubble tea's popularity has grown steadily over the decades, and the industry is expected to experience rapid expansion in the post-pandemic period.

Gather more insights about the market drivers, restrains and growth of the Bubble Tea Market

Regional Insights:

North America Market Leadership (2022):

• In 2022, North America led the bubble tea market, capturing a significant share of over 36.00% of the overall revenue in the industry.
• This high share is largely attributed to:
  • Strong demand for fruity-flavored tea beverages, which have gained considerable popularity among consumers in the region.
• The U.S. has experienced a rapid increase in bubble tea shops across the country, reflecting the growing popularity and accessibility of bubble tea among U.S. consumers.
• During the forecast period, the U.S. is projected to maintain a dominant position in the North American bubble tea market.

Asia Pacific Growth Potential (2023-2030):

• Asia Pacific is expected to achieve the fastest growth rate from 2023 to 2030, driven by:
  • Rising demand for healthy hot beverages, which appeals to health-conscious consumers across the region.
• Bubble tea originated in Taiwan, where it was first served and has since become a popular beverage globally.
• Thailand is one of the largest consumers of bubble tea in the Asia Pacific region:
  • According to data from the ASEAN Post in December 2019, each Thai citizen consumed an average of six cups of bubble tea per month, highlighting its widespread appeal.
• The demand for bubble tea in Asia Pacific is further fueled by:
  • Social media influencers and users, who play a significant role in promoting bubble tea trends, flavors, and unique presentations, making it an appealing choice for a broad audience.

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• The global ginger beer market size was estimated at USD 5.48 billion in 2024 and is expected to grow at a CAGR of 6.9% from 2025 to 2030.
• The global concentrated milk fat market size was valued at USD 5.37 billion in 2024 and is expected to grow at a CAGR of 6.4% from 2025 to 2030.

Key Bubble Tea Company Insights

Major companies are focusing on expanding their global presence. In addition, key players are launching new varieties of flavors and tea options to gain a competitive advantage. For instance,

• In June 2019, Malaysia-based ‘Secret Recipe’, a famous restaurant chain, launched new bubble tea flavors including boba signature fruit tea, boba brown sugar milk tea, and boba kopi-C
• In April 2022, BUBLUV, Inc., a New York-based start-up, announced the release of its much-awaited BUBLUV Bubble Tea, the first Ready-To-Drink (RTD) healthier boba substitute with less than 50 calories per bottle and no added sugar or chemical components

Some of the prominent players in the global bubble tea market include:

• Bobabox Ltd.
• Bubble Tea House Company
• Fokus, Inc.
• Gong Cha
• ChaTime
• Lollicup USA, Inc.
• Bubble Tea Supply, Inc.
• T Bun International
• Ten Ren’s Tea Time
• Troika JC

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