Bubble Tea Industry Analysis, Future Growth, Business Prospects and Global Forecast to 2023
Global Bubble Tea Market – by Tea Type (Black Tea), Milk Type (Dairy), Jelly Type (Tapioca Pearls), Product Type (Smoothies) and Region – Forecast to 2023
Pune, India – September 1, 2017 /MarketersMedia/ —
Market Research Future Published a Half Cooked Research Report on Global Bubble Tea Market which is estimated to grow at a CAGR of more than 7.3% after 2023
Competitive Analysis
The Major Key Players in Bubble Tea Market are:
Bubble Tea House Company (U.K.)
Bubblelicious Tea (U.K.)
Lollicup USA Inc. (U.S.)
Sumo’s (M) Sdn Bhd (Malaysia)
CuppoTee Company (Taiwan)
Ten Ren’s Tea (Taiwan)
Gongcha (Hong Kong)
Market Overview
Bubble tea is invented in Taiwan and it is made by blending a tea base with milk, fruit, fruit juices along with tapioca. The bubble tea can be served in both hot and cold form. Increasing demand of bubble tea in the European region especially from developed countries like U.K. and Italy is driving the bubble tea market since last few years. Many key manufacturers are expanding their beverage product portfolio by introducing bubble tea blended with fruit juices. Honeydew flavored bubble tea is one of the most popular bubble tea flavors across the globe. Bubble teas are generally offered in three distinct ways, a fruit-flavored cream drink, a sweetened fruit drink, or a fruit-flavored tea. Availability of various bubble tea type and improvement in bubble tea recipe will play the key role in bubble tea market growth.
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Market Forecast
Globally bubble tea market is estimated to escalate at a higher growth rate which is supported by increasing demand of flavored blended tea. Rising awareness about health benefits of bubble tea is supporting the market growth. Introduction of new flavors and availability of variety of products type is playing the key role for bubble tea market growth.
All these factors contribute to the calculated CAGR of 7.3% of bubble tea market during 2017-2023.
Downstream Analysis
Bubble tea is popular among youth and majorly consumed as a replacement of green tea. Wide availability, low prices have triggered the consumers to buy more bubble tea compare to normal tea types. Some bubble tea are promoted as healthy drinks by key players which has increased the demand of bubble tea among hot drink consumers. Fruit-flavored bubble tea is also available in variety of flavors such as mango, lychee, strawberry, honeydew and green apple. Fruit purees (natural or sweetened), flavored syrups or fresh fruits are added to the base tea to form smoothies, milkshakes and ready-to-mix bubble tea products.
Access the market data and market information presented through more than 60 market data tables and 25 figures spread over 110 numbers of pages of the project report “Bubble Tea Market – Forecast to 2023”
Regional Analysis
The Global Bubble Tea Market is segmented into North America, Europe, and Asia Pacific along with rest of the world (RoW). Asia Pacific region is estimated to dominate the market followed by Europe. Bubble tea was invented in Taiwan which is responsible for a major market share in Asia Pacific region. Apart from Taiwan, China is largest bubble tea producers in the Asia Pacific region. China dominates the market in this region due to increasing consumption of blended tea drinks. Increasing popularity of flavored tea from developed countries like U.K., Germany and Italy is influencing the market growth in the Europe region. Increasing awareness about health benefits of bubble tea is supporting the market growth in the North America region.
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Market Segmentation
Global Bubble Tea market is segmented by tea type, milk type, jelly type, product type and region.
Bubble tea has been segmented on the basis of tea type which black tea, green tea, rum, oolong tea, white tea, and others
Bubble tea product has been segmented on the basis of milk type which includes dairy and non-dairy
Bubble tea product has been segmented on the basis of jelly type which includes store based and non-store based tapioca pearls, basil seeds, fruit, gelatin and other
Bubble tea product has been segmented on the basis of product type which includes smoothies, milkshakes, ready-to-mix and others
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