Global Bubble Tea Market Size, Share, Growth Analysis Report - Forecast 2034

Bubble Tea Market: Industry Perspective

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.

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Bubble Tea Market: Overview

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.

Key Insights

• As per the analysis shared by our research analyst, the global bubble tea market is estimated to grow annually at a CAGR of around 9.35% over the forecast period (2025-2034).
• Regarding revenue, the global bubble tea market size was valued at around USD 4.08 Billion in 2024 and is projected to reach USD 9.97 Billion by 2034.
• The bubble tea market is projected to grow at a significant rate due to rising demand for innovative beverages, growing popularity of Asian cuisine, increasing café culture, and the influence of social media trends.
• Based on Flavor, the Original Flavor segment is expected to lead the global market.
• On the basis of Base Ingredient, the Black Tea segment is growing at a high rate and will continue to dominate the global market.
• Based on the Component, the Flavor segment is projected to swipe the largest market share.
• By End User, the Generation Z segment is expected to dominate the global market.
• Based on region, Asia-Pacific is predicted to dominate the global market during the forecast period.

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Bubble Tea Market: Growth Drivers

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.

Bubble Tea Market: Restraints

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.

Bubble Tea Market: Opportunities

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.

Bubble Tea Market: Challenges

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.

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Bubble Tea Market: Segmentation

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.

Bubble Tea Market: Report Scope

Recent Developments:

• In February 2019, Boba Box Limited introduced 14 new flavors in the European market.
• In April 2020, Bubble Tea Supply Inc announced the introduction of bubble tea with a range of tastes including traditional milk, mango, lychees, etc. with additional 14 toppings.
• 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.

Bubble Tea Market: Regional Landscape

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.

Bubble Tea Market: Competitive Analysis

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:

• 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.

The global bubble tea market is segmented as follows;

By Flavor

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

By Base Ingredient

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

By Component

• Flavor
• Creamer
• Sweetener
• Liquid
• Toppings
• Sub-Type
• Tapioca Pearls
• Konjac Jelly Pearls
• Popping Pearls
• Coconut Jelly
• Others

By End User

• Generation Z
• Millennials
• Generation X

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America