Bubble tea is known for its sweet taste. 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. Please do not hesitate to contact me. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. We dont recommend anyone making it a daily indulgence. Young people between ages 20 and 29 are interested in bubble tea. Malina Malkani, a media spokesperson for the Academy of Nutrition and Dietetics in the United States (US) said that bubble tea is a high-calorie drink with little source of protein or fibre. A global addiction. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. The Straits Times, p. 15. The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. The report segments the global bubble tea market based on base ingredient, flavors, component, and region. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). The current valuation of the market is US$ 2.50 billion in 2022. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. To continue, upgrade to a supported browser or, for the finest experience, download the mobile app. 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. In Malaysia, Columbia Asia dietitian, Kong Woan Fei told local media that depending on the sugar used, one cup of bubble tea can contain at least 370 calories. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. (1992, May 27). Please create an employee account to be able to mark statistics as favorites. A. The Straits Times, p. 4. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. 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. The black tea segment is expected to be the leading segment in the global market. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. 14. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. "Important factors when considering a bubble tea purchase in Singapore in 2020." You need at least a Starter Account to use this feature. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. There is also an industry saying that nine out of 10 bubble tea stores lose money, it added. (1992, May 27). 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. 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. All rights reserved. A file photo showing cups of bubble tea. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Are you interested in testing our business solutions? It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. 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. The Straits Times, pp. Tapioca balls or "pearls" are often added to the concoction as well. A paid subscription is required for full access. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. 1. February 11, 2020. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. 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. It is already known that sugary drinks contribute to weight gain, obesity and other diseases such as diabetes, heart disease, stroke and cancer. Are you interested in testing our business solutions? 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. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. You need at least a Starter Account to use this feature. 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 bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Bubble tea fad makes comeback. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. At the end of the day, its not much worse than an occasional soda would be for the average person, but its important to remember to only have bubble tea once in a while. Then you can access your favorite statistics via the star in the header. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! Register in seconds and access exclusive features. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. Aqilah still drinks the occasional bubble tea. Request a Free sample to learn more about this report. The market is expected to grow at a CAGR of 7.51%, during the forecast period. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. 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. It comes with the additional cost of $2500.00 contact sales. Retrieved from NewspaperSG.13. A. Because of the popularity and groundbreaking response from the customers, the businesses in this market typically franchise into different locations. "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. Over of the bubble tea enjoyed around the world is fruit-flavored. The global Bubble Tea Market is expected to $4,368.6 million in 2027. Thank you for contacting us, our sales representative will get in touch with you shortly! Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. It looks quite comprehensive and the data is exactly what I was looking for. This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. Single User License, Five User License & Enterprise User License. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. 2023 Allied Market Research. (2002, January 13). In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. Since our launch, weve worked on more than 1,000 projects for clients around the world. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. Deconstructed, bubble teas ingredients of tea, milk and brown sugar can make one assume that it is a healthy enough drink. 15. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Stay abreast of your interest areas. Followed by Asia Pacific, the North America bubble tea market share emerged to be the second-largest and is likely to maintain its position throughout the forecast period. There are 250 different flavors of bubble tea. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). According to Grabs data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. Available: https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, Number of bubble tea outlets in Singapore in 2019, by brand, Available to download in PNG, PDF, XLS format, Leading black tea exporters worldwide 2021, Area harvested for tea in India 2010-2020, Production of tea in north India FY 2014-2022, Production volume of tea in south India FY 2014-2022, Production of tea in India FY 2021, by category, Tea production volume in India FY 2022, by grower size, Export value of tea and coffee from India FY 2011-2022, Indian tea exports value FY 2022, by destination country, Indian tea exports volume FY 2022, by destination country, Import value of tea in India FY 2014-2022, Import volume of tea into India FY 2014-2022, Wholesale Price Index of tea in India FY 2012-2022, Average price of tea in India FY 2022, by category, Retail price of tea India 2021, by major city, Consumption volume of tea in India FY 2015-2022, Total revenue of Hindustan Unilever 2013-2022, Tata Consumer Products' total revenue FY 2015-2022, Total revenue of McLeod Russel FY 2013-2022, Total revenue of Goodricke Group Ltd FY 2013-2022, Italy: ready-to-drink tea sales value 2016-2017, Ready to drink blended tea production volume in Japan 2013-2021, Tea market: value growth in the United Kingdom (UK) 2014, by category, Share of past-day tea consumers in Canada 2009-2020, Preferred time for bubble milk tea on weekdays in Vietnam 2019, by age group, Frequency of purchasing hot beverages for home consumption in France 2017, by type, Preferred time for bubble milk tea on weekends in Vietnam 2019, by age group, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, Tea sales value in the United Kingdom (UK) 2010-2014, Leading factors influencing bubble tea purchase Singapore 2020, Brazil: ready-to-drink tea production volume 2018-2021, Brazil: per capita consumption of ready-to-drink tea 2018-2021, Cost of one cup of bubble tea Singapore 2018, by major brand, Market share of tea and coffee drinks by distribution channel in Spain 2019, Tapioca and substitutes import volume to Japan 2016-2021, Find your information in our database containing over 20,000 reports. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. Total Starbucks locations globally 2003-2022, U.S. beer market: leading domestic beer brands 2017, based on sales, Revenue and financial key figures of Coca-Cola 2010-2022, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. What may surprise you though is the amount of sugar! This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. 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. 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. 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. Get full access to all features within our Business Solutions. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. The global bubble tea market was valued at US$1.96 billion (S$2.67 billion) in 2016 and is projected to reach US$3.21 billion by 2023, according to research firm Allied Market Research. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. Lek, E. (2007, August 20). 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. Please do not hesitate to contact me. 7. Required fields are marked *. 8. This can be attributed to change in preference of consumers toward healthy beverages and better taste. The beverage is now considered a mainstay due to its unique formulation. Upgraded but still having issues? The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. The hidden sugars in bubble tea, Confessions of a bubble tea addict: Not good for me, but it's been good to me. To use individual functions (e.g., mark statistics as favourites, set 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.. Availability of Alternative Caffeinated Drinks to Impede Growth. The bubble tea industry was valued at $2.2 billion in 2019. 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. The Straits Times, p. 30. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. The nostalgic flavour of Uncle JiaJia liang teh has now taken the form 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. 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. Heritage and Culture. A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. The Straits Times, p. 8. Bubble tea can be found in over 30 countries. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Save my name and email in this browser for the next time I comment. AVA suspends two more Taiwanese juice brands. The Straits Times, p. 3. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls from Taiwan, hinders the production process and impacts their overall operations. 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! According to the study, there are three underlying fundamentals to building a successful bubble tea business. There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. Though there are high margins, bubble tea is a low-differentiation game with easily replicable products and a challenging supply chain, he said. Pearls dropped by some bubble tea shops. Asia Pacific is expected to dominate the market during the forecast period. Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. Whats your favorite bubble tea base to start with? Retrieved from NewspaperSG.2. Long queues at bubble tea shops, now serving only takeaway bubble tea, were a common sight. Customers also have the option of adjusting the drinks sugar level. Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. It is not intended to be an exhaustive or complete history of the subject. It should be no surprise then that sugar is a primary ingredient in the drink. to incorporate the statistic into your presentation at any time. The bubble tea industry is expected to reach $3.39 billion by 2027. statistic alerts) please log in with your personal account. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. A. The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. In some instances, a hot version of the tea is also available. 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. Bubbling over. ", Nielsen, Important factors when considering a bubble tea purchase in Singapore in 2020 Statista, https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/ (last visited May 01, 2023), Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph], Nielsen, February 11, 2020. The Tea segment in Singapore is projected to grow by 2.16% (2023-2025) resulting in a market volume of US$807.70m in 2025. . "The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent," the release said. In, Nielsen. Copyright Mediacorp 2023. Keep reading to discover everything weve uncovered about bubble tea. Accessed May 01, 2023. https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Nielsen. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. On Deliveroo, bubble tea is the most popular item in its beverage category, with users ordering 385,000 cups in 2018. (AFP Photo). Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. Hawker centres too began to sell bubble tea, with some small start-ups even operating from shops selling items such as cakes and shoes. Arlina Arshad. Sweeter than soda? Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. SINGAPORE From bubble tea shops to cake shops - these standalone food & beverage businesses considered as less critical will be not allowed to open from Tuesday 2359 hrs as part of stricter. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. Durai, J., & Poon, C. H. (2011, June 4). Moreover, countries such as Japan, China, the U.S., and Canada are the major consumers of pearl milk tea and have also experienced a slight dip in their growth due to hindrances in production as well as supply chains during the year 2020-21. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and bubble teas. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. 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. A. According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. 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. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . The availability of different types of milk tea offers numerous options for consumers to enjoy. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. (1993, September 24). The Straits Times, p. 73. Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. Arlina Arshad. (2002, January 13). As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. This was attributed to rise in the fitness conscious people across the globe. The boba (bubble) alone is 150 calories. The high carbohydrate content of the bubbles can lead to an unhealthy diet. Ive been drinking it a lot for the past few months and realised that my weight increased. I believe its because of the level of sugar [in the drink], she said. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no and low-alcohol beverages, which has further contributed to the market growth. You can only download this statistic as a Premium user. Tapioca balls or pearls are often added to the concoction as well. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! There are many varieties of the drink with a wide range of ingredients. 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. Chief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, the high popularity of tea-based fruity beverages, and high consumer preference. Retrieved from NewspaperSG.15. However, it was only in 2001 that bubble tea became phenomenally popular. When you look at the marketing for bubble tea, the numbers make sense. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Then you can access your favorite statistics via the star in the header. ", DBS Group Research, Number of bubble tea outlets in Singapore in 2019, by brand Statista, https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/ (last visited May 01, 2023), Number of bubble tea outlets in Singapore in 2019, by brand [Graph], DBS Group Research, October 22, 2019. The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Pandemic disrupted the entire world and affected many industries. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. The data offered to us was exactly what we were looking for. Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! The emergence of Chinese players who are good at branding, product/supply chain and cost management could pose an increasing challenge to existing local players. 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. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. 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. Statista. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. 10. 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. Ho, M., & Boey, D. (2001, June 29). However, consumers love for bubble tea wont change anytime soon, but they will vote for their favourite brands with their wallets.. "Yet, few players have managed continuous profitability at a large scale." It cited. Nielsen. 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. 12. (October 22, 2019). As soon as this statistic is updated, you will immediately be notified via e-mail. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market.
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