Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 4.08 Billion | USD 9.97 Billion | 9.35% | 2024 |
The global bubble tea market size was worth around USD 4.08 Billion in 2024 and is predicted to grow to around USD 9.97 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 9.35% between 2025 and 2034.
The report analyzes the global bubble tea market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bubble tea industry.
Bubble tea is a Taiwanese beverage invented in Taichung. Bubble tea recipes usually entail a tea base mixed with fruit or milk along with the bubbling tapioca balls to make it chewier. Fruit jellies are a staple addition to this recipe to make it more delectable.
There are two versions in which the drink is devoured, one is the ice-blended and the other is the normal hot one. The ice-blended version is mixed with syrup and is squashier than the normal version. A wide range of ingredients is added to the beverage to give some variety to the drink. The main classifications of bubble tea include bubble milk tea with tapioca balls and bubble milk green tea with tapioca.
Bubble tea is also known by different names such as boba juice, boba tea, bubble milk tea, or pearl tea. The flavors which are common for bubble tea are lychee, honeydew, passion fruit, mango, plum, coffee, strawberry, and chocolate. The tapioca balls used in the tea also differ to give different textures to the tea while also varying in flavors according to the preference of people. It is widely consumed in the prominent western regions making it a staple drink or a common refresher.
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Rising popularity and availability of a wide range of beverage attracting millennials drives market growth
The rising popularity of bubble tea aids in the increased attention of the growing market. An incessant rise in the health consciousness of people to consume healthy drinks such as green tea, black tea, and white tea indirectly induces growth in the global bubble tea market. Moreover, the rise in consumption of flavored bubble tea amongst the younger generation seems to have spiked up the demand. Apart from all this the commercial endorsements and advertisements supporting the drink are aiding the market to grow excessively.
Varieties available in bubble tea such as fruit-flavored, green, jasmine, and black tea also increase its leverage by catering to even lactose-intolerant people thereby boosting the market growth. Many commercial outlets on the rise across the world are launching new flavors and formulations by attracting millennials exclusively. This factor acts as a growth driver for the global market promptly.
The sweeteners added to the bubble tea are honey, syrups, or agave which are a fitting alternative to sugar. Hence patients with obesity or diabetes have shifted towards consuming bubble tea to a large extent. This shift in consumption is also seen as a probable growth factor for the global market.
Excess sugar content and rampant availability of caffeinated drinks act as restraint for global market growth
The sugar content in these drinks is the reason for health issues such as diabetes and obesity. This factor impedes bubble tea industry growth to a large extent. The presence of preservatives in bubble tea also makes people shift their preference to organic beverages, which indirectly impacts the market negatively. Apart from this, the wide availability and the popularity of coffee over any other drink along with its enhanced consumption act as restraints for the growth of the global bubble tea market.
Recent emergence of various new flavors and increasing demand amongst the millennials for bubble tea are greater opportunities for the global market
There has been a recent introduction of various new flavors and blend versions which trigger high demand amongst the younger generation. This factor provides lucrative opportunities for global bubble tea market expansion. Alternative options such as black, green tea, and white tea have attracted lactose-intolerant people as well. This availability of different options will draw more attention thereby providing an opportunity for market growth.
The increase in demand has led to massive production which poses a challenge to the market
Tea production in western countries has gone up because of the increasing demands in western countries and amongst the young working population across the world. This triggers an increase in the sales of the product along with production. The availability of infrastructure, equipment, and raw components needed for this massive production to satisfy the shooting up demands of the people will be a major challenge for the global bubble tea market.
Rising raw components prices are a bigger challenge to the global market
Some additives, preservatives along sweeteners are added to the bubble tea as ingredients. The inflation in the prices of these raw ingredients increases the production cost of bubble tea. Hence this increase in the cost of raw components to make bubble tea indirectly poses a challenge to the global bubble tea market considerably.
The global bubble tea market in this research analysis is divided into ingredient, flavor, component, and region.
The type is classified as 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.
The flavor is divided based on original flavor, coffee flavor, fruit flavor, chocolate 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.
Distribution channels are hypermarkets, convenience stores, specialty stores, supermarkets, and non-store-based.
Finally, the components consist of sweetener, liquid, flavor, creamer, tapioca pearls, and others.
Report Attributes | Report Details |
---|---|
Report Name | Bubble Tea Market |
Market Size in 2024 | USD 4.08 Billion |
Market Forecast in 2034 | USD 9.97 Billion |
Growth Rate | CAGR of 9.35% |
Number of Pages | 209 |
Key Companies Covered | Gong cha Global Ltd, Boba Box Limited, Chatime Global LLC, KF Tea Franchising LLC, Sumo's (M) Sdn Bhd, Cuppo Tee Company Limited, TP Tea, Bubbleology, Bubble Tea House Company, Tbaar Inc., and others. |
Segments Covered | By Flavor, By Base Ingredient, By Component, By End User, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2023 |
Forecast Year | 2025 - 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America region held the largest market share in 2024 and is further expected to grow rapidly
North America dominates the global bubble tea market as the largest consumer of bubble tea due to its therapeutic effect and health benefits it offers for the prevention of cardiovascular diseases, cancers, and lowered cholesterol. Owing to the increase in the health consciousness of people in this region, the market here is about to witness prominent growth. The bubble tea market in Asia Pacific region is also experiencing rapid growth due to the increasing popularity and leverage of bubble tea that prevails here. The wide varieties of flavors along with high disposable income boosts greater growth in this region.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the bubble tea market on a global and regional basis.
The global bubble tea market is dominated by players like:
By Flavor
By Base Ingredient
By Component
By End User
By Region
FrequentlyAsked Questions
The global bubble tea market is expected to grow due to increasing consumer demand for unique and customizable beverages, growing influence of social media and celebrity culture, rising popularity among younger demographics, and the expanding cafe culture worldwide.
According to a study, the global bubble tea market size was worth around USD 4.08 Billion in 2024 and is expected to reach USD 9.97 Billion by 2034.
The global bubble tea market is expected to grow at a CAGR of 9.35% during the forecast period.
Asia-Pacific is expected to dominate the bubble tea market over the forecast period.
Leading players in the global bubble tea market include Gong cha Global Ltd, Boba Box Limited, Chatime Global LLC, KF Tea Franchising LLC, Sumo's (M) Sdn Bhd, Cuppo Tee Company Limited, TP Tea, Bubbleology, Bubble Tea House Company, Tbaar Inc., among others.
The report explores crucial aspects of the bubble tea market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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