iCrowd Newswire – Jul 14, 2020
The Global Bubble Tea Market is estimated to grow at a CAGR of 7.8% during the forecast period 2020-2027. As per the detailed market study, the global bubble tea industry is anticipated to reach $4.3 billion by the end of the year 2027.
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Bubble tea also known as boba tea is a type of Taiwanese drink which is served in cold or hot form as per the preference of consumers. The base component used to prepare this is milk or tea. The bubble tea is glazed with boba which are chewy, soft and gummy tapioca pearls that are extracted from cassava root and can be eaten by consumers through a fat straw. Fruit balls and jelly are other ingredients used to enhance the tea texture. The bubble tea is witnessing a global reach specially in countries such as Germany, Canada and the U.S.
The global bubble tea market is driven by various growth factors such as growing health awareness coupled with increase in adoption of bubble tea due to the health benefits offered by tea. Availability of bubble tea with healthy ingredients and low prices and increase in number of vegan populations also support the market growth over the forecast period. Whereas, use of sugar content and artificial preservatives in bubble tea, increasing trend of coffee consumption and availability of various healthy substitutes such as organic beverages hinder the market growth over the forecast period. On contrary, high demand of bubble tea among young population and scope to offer various new flavours in the beverage offer lucrative opportunities for the market players operating in the global bubble tea market.
Competitive Insights of the Global Bubble Tea Market
Huey-Yuhe Enterprise, Grand Chainly, Fanale Drinks, T Bun International, Share Tea, Happylemon, Boba Loca, Kung Fu Tea, Quickly, CoCo Fresh, ChaTime, Bubble Tea Supply Inc., Fokus Inc., Troika JC. (Qbubble), Boba Tea Company, Gong Cha USA, Sumos Sdn Bhd, Boba Box Limited, Ten Ren’s Tea Time, Bubble Tea House Company, CuppoTee Company and Lollicup USA Inc. are some major key players included in the research study of the global bubble tea market.
Segmentation Overview of the Global Bubble Tea Market
The global bubble tea market is categorized into various segments that include base ingredient, flavour and component. These major market segments are further categorized into various sub-segments to study the market in detail.
The Base Ingredient Segment of the Global Bubble Tea Market is Sub-Segmented into:
- White Tea
- Oolong Tea
- Green Tea
- Black Tea
The Flavour Segment of the Global Bubble Tea Market is Sub-Segmented into:
- Chocolate Flavour
- Fruit Flavour
- Coffee Flavour
- Original Flavour
The Component Segment of the Global Bubble Tea Market is Sub-Segmented into:
- Tapioca Pearls
Geographical Overview of the Global Bubble Tea Market
The North America bubble tea market dominated the major market share in the year 2020 with more than 50% of the market share in the global marketplace. On the other hand, the Europe bubble tea market is anticipated to grow at the fastest growth rate with a CAGR of 8.7% during the forecast period 2020-2027.
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Keywords: Bubble Tea Market