Bubble Tea Market Analysis Report 2023-2028: Industry Size, Business Statistics, Demand, and Forecast

SHERIDAN, WYOMING, UNITED STATES, March 15, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “Bubble Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global bubble tea market size reached US$ 2.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.1% during 2023-2028. Bubble tea, also called boba or pearl milk tea, is a popular Taiwanese tea-based drink that originated in the 1980s. It typically consists of a flavored tea base, milk, and chewy tapioca balls (or "pearls") that are sucked up through a wide straw. It is available in many flavors, including traditional green, black, and oolong tea and fruit flavors like strawberry, mango, and passionfruit. Some bubble tea shops offer unique flavors like matcha, taro, or avocado. The tapioca balls, or "boba," are made from cassava starch and have a chewy texture that adds a fun and unique element to the drink. Other add-ins, such as jelly, fruit bits, or pudding, can also be added to the drink to enhance its flavor and texture. Bubble tea has gained popularity worldwide, with many specialty shops and chains opening up in different countries. It is enjoyed by people of all ages and has become a staple drink in many urban areas. While bubble tea is often consumed for its unique taste and fun texture, it also offers potential health benefits. Some types of tea used in bubble tea, such as green or black tea, are rich in antioxidants, which help protect cells from damage caused by harmful molecules called free radicals. Bubble tea often contains caffeine from the tea or coffee used, which provide a natural source of energy and help improve mental alertness.

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Industry Growth:

The global market is majorly driven by the growing popularity of Taiwanese cuisine and culture worldwide. In line with this, the increasing availability of bubble tea shops and chains in urban areas is significantly contributing to market growth. Furthermore, the variety of flavors and customization options available with the product appeal to diverse tastes and preferences worldwide. Apart from this, the rising demand for plant-based and dairy-free beverage options, with some bubble teas made with non-dairy milk alternatives, is positively influencing the market. Innovative and unique toppings and add-ins, such as fruit jelly or cheese foam on the product, are expected to catalyze its demand. The escalating demand for fun and visually appealing beverages for social media sharing is propelling the market. The availability of bubble tea as a dessert or treat option in addition to traditional beverages is favoring the market.

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Industry Demand:

Growing demand for beverages with health benefits, such as antioxidant-rich teas or added nutritional supplements, is strengthening the product demand worldwide. Moreover, the increasing focus on natural and organic ingredients, with some bubble tea shops offering all-natural or organic options, is anticipated to bolster the market. Besides, the rising interest in global and multicultural cuisine, with bubble tea representing a unique and trendy option, is fueling product sales. The availability of customizable sweetness and ice levels, allowing consumers to tailor their drink to their preferences, provides an impetus to the market. The expansion of bubble tea chains and franchises worldwide, leading to greater brand recognition and availability, is creating a positive outlook for the market. Growing demand for non-alcoholic beverage options, with bubble tea serving as a popular alternative, is offering numerous opportunities for market expansion. Additionally, the escalating demand for grab-and-go options and convenience for busy lifestyles is providing a boost to the market.

Key Segmentation:

Competitive Landscape with Key Players:

• Boba Loca USA Inc.
• Bubble Tea Supply
• CoCo Fresh Tea & Juice
• Fanale Drinks
• Fokus Inc
• Huey-Yuhe Enterprise Co. Ltd.
• Kung Fu Tea
• Lollicup USA Inc.
• Quickly Chapel Hill
• Sharetea
• Troika J C Inc

Breakup by Base Ingredients:

• Black Tea
• Green Tea
• Oolong Tea
• White Tea

Breakup by Flavor:

• Original Flavor
• Coffee Flavor
• Fruit Flavor
• Chocolate Flavor
• Others

Breakup by Component:

• Flavor
• Creamer
• Sweetener
• Liquid
• Tapioca Pearls
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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