Global Bubble Tea Market Is Predicted to Grow Around $7.82 Bn By 2030

16-Feb-2023 | Zion Market Research

The global bubble tea market size was worth around $3.12 Billion in 2021 and is predicted to grow to around $7.82 Billion by 2030 at a CAGR rate of 9.01% over the forecast period from 2022 to 2030.

Bubble tea (often called pearl milk tea, boba juice, bubble milk tea, boba tea, or simply boba) is a distinctive-looking Taiwanese tea-based beverage that was initially produced using white, green, or black tea, or milk base, chewy tapioca balls (that are often referred as pearls, bubbles or boba), and fruit jelly. They also include ice-blended versions in which they are mixed with certain syrups or fruits that result in a slushy mixture. They are available in numerous flavors such as coffee, lychee, passion fruit, chocolate, taro, peach, mango, strawberry, and others.

It is offered in both cold and hot forms and is usually consumed with a straw. Bubble tea is gaining massive popularity in various countries across the globe as it is an immense source of antioxidants, caffeine, and vitamin C, and thus offers various important health benefits for individuals such as improved immune system, reduce inflammation, and overall enhancement of cardiovascular health.

The global bubble tea market is expected to grow exponentially due to an increase in health consciousness among people across the globe which results in more and more people inclining toward healthy and functional beverages such as black tea, green tea, white tea, oolong tea, and others.

Besides, an increase in the number of fitness enthusiasts, a rise in the standard of living, a change in lifestyle, and an increase in the consumption of flavored bubble tea among millennials drive the growth of the market during the forecast period.

In addition, low-calorie and zero-fat contents in various types of bubble tea beverages, the prevalence of various commercial endorsements & advertisements supporting the drink, an increase in awareness about numerous perks of drinking bubble tea, and the introduction of various new flavors & blend versions in bubble tea products are expected to create remunerative opportunities for the growth of the global bubble tea industry. However, the presence of strict restrictions on the import and export of products along with the extensive availability and popularity of coffee in various countries restrict the growth of the market to an extent.

Bubble Tea Market Size

The global bubble tea market is segmented based on ingredient, flavor, component, and region.

Based on ingredient, the market is bifurcated into black tea, green tea, oolong tea, and white tea. The black tea segment held the largest market share in 2021 and is further predicted to occupy a dominant status during the forecast period. The major reason for the growth of this segment is the natural and genuine flavor of black tea. Besides, more and more people across the globe are incessantly inclining towards black tea due to its various health benefits as it plays a major role in lowering sugar levels in the blood of an individual and also helps in reducing bad cholesterol in the body. In addition, black tea is a tremendous source of antioxidants, and hence it also favors massively enhancing gut health. These factors are expected to drive the growth of the segment during the forecast period.

Based on distribution channels, the market is divided into hypermarkets, convenience stores, specialty stores, supermarkets, and non-store-based.

Based on component, the bubble tea industry is segregated into sweetener, liquid, flavor, creamer, tapioca pearls, and others.

Based on flavor, the market is bifurcated into chocolate flavor, original flavor, coffee flavor, fruit flavor, and others. The fruit flavor segment held the largest market share in 2021 and is further expected to maintain the dominant status during the forecast period. The reason for the growth of this segment is mainly attributed to changes in lifestyle and subsequently the preference among consumers as they tend to incline towards beverages that are healthy and tasty at the same time.

In addition, the availability of a wide variety of fruit flavors in the market further drives their demand. For instance, different types of fruit flavors in bubble tea include pineapple, grape, avocado, peach, lychee, grape, apple, passion fruit, strawberry, watermelon, honeydew, coconut, banana, kiwi, and others.

Based on region, the North American region held the largest global bubble tea market share in 2021 and is further expected to predict to grow exponentially at a promising CAGR during the forecast period. The main reason for the growth of the market in this region is the significant surge in the number of boba stores in countries such as the U.S. and Canada. This is mainly due to the change in lifestyles among people, the rise in health consciousness, the increase in awareness about the benefits of bubble tea products, and the rapid inclination towards natural beverages among people living in this region. In addition, a rise in disposable income and the availability of a wide variety of flavors due to the huge market share in this region are expected to drive the growth of the bubble tea market.

Global Bubble Tea Market Size Growth

This review is based on a report by Zion Market Research, titled Bubble Tea Market, By Ingredient (White Tea, Green Tea, Black Tea, and Oolong Tea ), By Flavor (Chocolate Flavor, Original Flavor, Coffee Flavor, Fruit Flavor, and Others), By Distribution Channels (Supermarkets, Hypermarkets, Convenience Stores, Specialty Stores, and Non-Store-Based), By Component (Sweetener, Liquid, Flavor, Creamer, Tapioca Pearls, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/bubble-tea-market

Recent Developments

  • In April 2022, BUBLUV, Inc., an innovative New York-based company, announced the launch of its first ready-to-drink beverage called BUBLUV Bubble Tea. It is a refreshing beverage and gives a light sweet taste. The bottle carries less than 50 calories and has zero artificial ingredients and zero added sugar. In addition, BUBLUV Bubble Tea is not only gluten-free but also keto-friendly.
  • In January 2023, BobaBam, a Los Angeles-based beverage company, announced the launch of its new flavors namely Milk Tea and Taro. The company is launching these variety packs across the West Coast and Northeast at more than 200 locations. Every pack of their pristine flavors is completely gluten-free, nut-free, vegan, and non-GMO.

The global bubble tea market is dominated by players such as:

  • Bobabox Limited
  • Bubble Tea House Company
  • Cuppotee
  • Fokus Inc
  • Gong Cha
  • Sumo’s Sdn Bhd
  • Troika JC
  • Fokus Inc.
  • Coco Fresh
  • T Bun International
  • Grand Chainly
  • Share Tea
  • Fanale Drinks
  • Ten Ren’s Tea Time
  • Kuaikeli Enterprise co. ltd.
  • COCO International Co. Ltd.
  • Kung Fu Tea
  • Lollicup USA Inc.

Global bubble tea market segmentation follows

By Ingredient

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

By Flavor

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

By Distribution Channels

  • Supermarkets
  • Hypermarkets
  • Convenient Stores
  • Specialty Stores
  • Non-Store-Based

By Component

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

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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