The report provides a quantitative analysis of the current bubble tea market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. Moreover, the emergence of do-it-yourself kits and classes allowed people to make their own bubble tea.10 As with other food fads, the novelty of the drink quickly wore off. But did you know that there are six different types of bubble tea? But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. Contact us, Last week, it was announced that Singapore will soon require food and beverage outlets to, Nutrition labels for drinks high in sugar, saturated fat to be rolled out in practical manner: MOH, HPB, Nutrition labels required by end 2023 for freshly prepared drinks that are higher in sugar, fat content. Though there are high margins, bubble tea is a low-differentiation game with easily replicable products and a challenging supply chain, he said. In, Nielsen. The bubble originally referred to the froth created by shaking the drink, though now it is also understood as referring to the pearls that are added. In April 2020, Bubble Tea Supply Inc. launched its first bubble tea with a range of flavors including traditional milk, green apple, mango, lychee, and honeydew accompanied with over 14 toppings. A file photo showing cups of bubble tea. (AFP Photo). When you look at the marketing for bubble tea, the numbers make sense. Brands are also providing more health-conscious options to cater to customers, through customisable sugar levels and healthier" alternatives like brewed fresh fruit tea. The bubble tea industry was valued at $2.2 billion in 2019. Low, F., & Lee, H. M.(2011, March 27). For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving boba tea across the country. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. The increase in bubble tea shops led to intense competition and price wars.9 Slashed prices, one-for-one offers and even lucky draw promotions were used to entice customers. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. The appearance of the finished drink is what led to its name. Lin Hsiu Hui created the first bubble tea in Chun Shui Tang, a tea shop i | Since its early beginnings in the 1980s, the trend of bubble tea has spread from Asia to America and Europe, and new companies are continually joining the bubble tea revolution. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. [Online]. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. (1992, May 27). Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Teens use tea house notice board to talk to each other, AVA suspends two more Taiwanese juice brands, Unapproved additive found in 11 food products, Pearls dropped by some bubble tea shops. The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. All rights reserved. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. A. (1993, September 24). Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. Lek, E. (2007, August 20). Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. You can only download this statistic as a Premium user. SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar new tea drinks, with Singapore having the highest spending power despite its smallest population among the region's six key markets. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. According to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. This was attributed due to rise in the consumption of tea based everages across the world. A. Market to Boom As Consumers Seek Versatile Teas with Innovative Bold Flavors. "Number of bubble tea outlets in Singapore in 2019, by brand." In, DBS Group Research. Unapproved additive found in 11 food products. Aqilah still drinks the occasional bubble tea. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. Teens use tea house notice board to talk to each other. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. A bubble tea. AVA suspends two more Taiwanese juice brands. You can only download this statistic as a Premium user. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. Chief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! To use individual functions (e.g., mark statistics as favourites, set Bubble tea fad makes comeback. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. As a result, bubble tea lost its popularity by 2003 and many shops folded. Request a Free sample to learn more about this report. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Fortune Business Insights says that the global market size was USD 2.29 billion in 2022 and is projected to reach USD 4.08 billion by 2030. Retrieved from NewspaperSG.4. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. Please do not hesitate to contact me. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. If you are an admin, please authenticate by logging in again. Thanks for sticking with me in this huge post. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. Access to this and all other statistics on 80,000 topics from, Show sources information You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! Retrieved from NewspaperSG.12. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. 15. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. Despite the burgeoning demand for such innovative tea beverages, the wide availability of other caffeinated and conventional drinks, such as coffee and chocolate, coupled with the prominent coffee consumption trends in Western countries, poses a threat to market growth. 10. The boba (bubble) alone is 150 calories. The high carbohydrate content of the bubbles can lead to an unhealthy diet. Ho, M., & Boey, D. (2001, June 29). Retrieved from NewspaperSG.7. Tapioca balls or "pearls" are often added to the concoction as well. This can be attributed to change in preference of consumers toward healthy beverages and better taste. In some instances, a hot version of the tea is also available. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Such challenges cumulatively hamper the growth potential of the global market. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Bubble tea drinks are designed to appeal to younger consumers as a way for brands to be part of viral food trends. Arlina Arshad. Bubble tea orders in Southeast Asia recorded a . Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. And if you have a sweet tooth, its SO GOOD. It looks quite comprehensive and the data is exactly what I was looking for. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. In the United States, 95% of women have tried bubble tea versus 81% of males. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. Show publisher information Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Extruding the tapioca into these small balls is difficult work. Recent Statistics Popular Statistics Facebook: quarterly number of . Bubble tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. Bubble tea also contains high sugar content, according to a study conducted by students at the Applied Food Science and Nutrition diploma course at the Temasek Polytechnic in Singapore. (Photo: iStock). Bubble tea, first introduced in Taiwan in the 1980s has done on to become a global phenomenon made popular by Internet foodies. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. As a Premium user you get access to background information and details about the release of this statistic. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. You need a Statista Account for unlimited access. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. However, the study found that despite the high margins, few bubble tea stores are profitable. Retrieved from NewspaperSG.13. to incorporate the statistic into your presentation at any time. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. The consumption of bubble tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . The Straits Times, pp. There are six official types of bubble tea. A. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. About | Privacy Policy |Contact | Advertise | Support. Its not difficult to observe and learn their play and strategy, but whats more important is to ensure positive unit economics and good return on investment., Be among the first to know the Breaking news. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. ", Latin America: yerba mate per capita consumption 2018, by country, Argentina: yerba mate export volume 2019, by destination, Argentina: yerba mate production 2010-2019, Latin America: yerba mate planted area 2020, by country. October 22, 2019. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Nigeria, specifically, has become a hub for cassava production. You only have access to basic statistics. Who are the leading players in the global market? These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. Statista. Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. Plasticisers are discovered in two Taiwanese fruit juice brands, resulting in suspension of the brands.2013: Maleic acid found in Taiwanese starch products, affecting the pearl supplies of certain bubble tea chains.AuthorJan YapReferences1. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. under and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. (1992, May 27). "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. The growing bubble tea market has also made brands focus on unique concepts in terms of toppings and flavour combinations to pique consumer interest and to stand out from the crowd. Storm in a bubble-tea cup. Customers also decide based on the product selection at stores, as well as the ease of access which means the number of stores a brand has, it said. Countries such as Vietnam and Taiwan are projected to have the largest sales. As a result, bubble tea had lost its popularity by 2003 and many shops folded.ResurgenceNevertheless, bubble tea did not completely disappeared from Singapores food scene. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). The bubble tea trend has continued to soar in its originating region, later gaining traction in other western countries, such as Canada and the U.K. Bubble tea originates from Taichung, Taiwan. Furthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. In Singapore, there has been renewed hype in bubble tea in the past year, spurred by the entrance of well-known global franchises, and local entrepreneurs stepping up to give those brands a run for their money. Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. Nielsen. The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Learn more about how Statista can support your business. (February 11, 2020). Retrieved from NewspaperSG.10. Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. The Straits Times, p. 8. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 3. While consumers in Singapore are more health conscious, its not the same across other markets, it added. Thailands consumers take top spot for consuming six cups of bubble tea per person per month, followed by the Philippines with an average of five cups. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. A wide variety of teas, including black, green, oolong and earl grey tea are sold. Bubble tea was introduced to Singapore in 1992. . Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore.
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