Which is the leading segment based on the product type in the market? The data also revealed the regions favourite flavour (hazelnut), topping (pearl) and the time most people order bubble tea (lunchtime). 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. According to a recent study, the bubble tea industry is expected to grow by almost $2 billion to a whopping $4.3 billion by 2027. Need to talk to an expert? The global bubble teamarket holds a substantial scope for growthduring the forecast period. Required fields are marked *. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. When you look at the marketing for bubble tea, the numbers make sense. 8 New Bubble Tea Launches In Singapore 2022 - GirlStyle Singapore You only have access to basic statistics. 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. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. [Online]. Bubbly and book fun. I believe its because of the level of sugar [in the drink], she said. The manufacturers or entrepreneurs in the boba tea industry are venturing into the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. (1993, September 24). By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. In 2018, there were over 450,000 shops selling bubble tea in China. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. In the next five years, the bubble tea industry is expected to grow by nearly 54%. "(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. [ 2023 to 2030 ] Bubble Tea Market Size - MarketWatch 87% of American millennials drink tea, including bubble tea. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! Southeast Asians spend US$3.66 billion on bubble tea annually: Study With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! Here is the history of bubble tea in Singapore. However, the drinks popularity also contributed to its downfall. Please do not hesitate to contact me. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. The bubble tea industry is expected to reach $3.39 billion by 2027. 2023 Allied Market Research. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. 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. "Important factors when considering a bubble tea purchase in Singapore in 2020." Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. The Agri-Food and Veterinary Authority (AVA) suspended the brands, resulting in a few bubble tea chains temporarily being unable to sell their fruit teas.13In May 2013, it was discovered that the Sunright brand of tapioca balls, as well as other starch products from Taiwan used in bubble tea, contained maleic acid, a substance harmful to the kidneys.14 As a result, some bubble tea chains stopped selling pearls with their teas for the time being.15 Such health scares negatively affected bubble tea sales, although customer confidence returned after a period of time.Timeline1992: Bubble Tea Garden, Singapores first bubble tea caf, opens.2001: Bubble tea reaches the height of its popularity.2007: Renewed popularity of bubble tea.2011: Renewed popularity of bubble tea. Bubble tea can be found on every continent today, except for Antarctica, of course! Which of the following factors are important to you for this most recent trip? Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. You need at least a Starter Account to use this feature. Another draw is the foamed tea. Health-beneficial attributes such as low-fat, low-calorie content, and the presence of anti-inflammatory properties are the key driving factors of the market. Ho, M., & Boey, D. (2001, June 29). Deconstructed, bubble teas ingredients of tea, milk and brown sugar can make one assume that it is a healthy enough drink. 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. 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. Heritage and Culture. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. A. (October 22, 2019). Expanding Range of Products to Target Younger Individuals to Boost Growth. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Get detailed COVID-19 impact analysis on the Bubble Tea 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. Far from game over: From boom to bust to boom again, bubble tea is back The Great Singapore Bubble Tea Mania | campus.sg Tapioca balls or "pearls" are often added to the concoction as well. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. The peak of the fad was from March to October 2001, when shops reportedly sold as many as 800 to 1,000 cups a day.7 Major chains included Cool Station, Quickly and Milk Girl Ice Cup.8However, the drinks popularity also contributed to its downfall. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country. to incorporate the statistic into your presentation at any time. 3. 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. You can only download this statistic as a Premium user. Thank you for requesting a call back, our sales representative will get in touch with you shortly! Retrieved from NewspaperSG.6. There is also an industry saying that nine out of 10 bubble tea stores lose money, it added. It is not intended to be an exhaustive or complete history of the subject. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. 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. About | Privacy Policy |Contact | Advertise | Support. The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. (Photo: iStock). 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.. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. #1 HEYTEA Golden Osmanthus Oolong ($7.50) Photo from HEYTEA. This statistic is not included in your account. Are you interested in testing our business solutions? Consuming Singapore: The obsession with bubble tea But did you know that there are six different types of bubble tea? Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. The nostalgic flavour of Uncle JiaJia liang teh has now taken the form of bubble tea! https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. 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. The Straits Times, pp. According to a study published in the National Library of Medicine, in 2022, chewing tapioca pearls can increase salivary C-protein (CRP) and calcium (Ca) levels. Whats your favorite bubble tea base to start with? What may surprise you though is the amount of sugar! However, the study found that despite the high margins, few bubble tea stores are profitable. Nigeria, specifically, has become a hub for cassava production. You need at least a Starter Account to use this feature. Bubble tea truly is an international drink! 13. 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 market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. The Straits Times, p. 73. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. 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. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Available: https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Important factors when considering a bubble tea purchase in Singapore in 2020, Available to download in PNG, PDF, XLS format, Latin America: largest yerba mate exporters 2020, by value, Latin America: leading yerba mate importers 2020, Argentina: yerba mate per capita consumption 2013-2018, Argentina: yerba mate export volume 2010-2018, Argentina: yerba mate import volume 2010-2018, Brazil: harvested hectarage of yerba mate 2013-2019, Brazil: yerba mate export value 2010-2022, Brazil: yerba mate leading export destinations 2022, Brazil: yerba mate import value 2013-2020, Paraguay: yerba mate export value 2010-2018, Paraguay: yerba mate export volume 2010-2018, Paraguay: yerba mate export volume 2018, by country, Paraguay: yerba mate import volume 2010-2018, Uruguay: yerba mate import value 2013-2018, Mexico: yerba mate import value 2012-2018, Bolivia: yerba mate import value 2013-2018, Cost of one cup of bubble tea Singapore 2018, by major brand, Favorite coffee and tea drinks in Germany 2019-2021, Share of past-day tea consumers in Canada 2009-2020, Share of Americans who drink Nestea 2018, by age, Share of past-day tea consumers in Canada 2011-2013, by age, Consumption of specialty teas by consumers aged 25-34 years and 55+ consumers UK 2016, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, How people take their tea in the United Kingdom (UK) in 2014, by region, Market value of RTD tea in ASEAN by country 2015/2020, Types of functional beverages tried among consumers in Vietnam 2019, by gender, Frequency of drinking functional beverages in Vietnam 2019, Main factors for buying non-alcoholic beverages in Vietnam 2019, by age, Tapioca and substitutes import value to Japan 2020, by region, Tapioca and substitutes import volume to Japan 2021, by region, Find your information in our database containing over 20,000 reports.

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