Iced tea is one of the most popular drinks in Asian countries such as Taiwan, Japan, South Korea, and China, and is also gaining popularity in countries in South Asia. Bubble tea is an iced tea drink that originated in Taiwan in the 1980s. It contains grains of tapioca, is often blended with sweetener and flavorings, and is usually served cold with a straw. Bubble tea has a creamy appearance and a sweet taste, which boosts its popularity amongst all age groups as a dessert drink. Most consumers order bubble tea after a meal, owing to its pleasant mouthfeel and unique texture. The bubble tea market has witnessed substantial growth in the past few years, and this is expected to continue throughout the forecast period of 2019-2027. The global bubble tea market is estimated to exhibit a steady growth rate of 5% throughout the forecast period.
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Key Takeaways of Bubble Tea Market Study
- Europe is expected to witness the highest growth rate in the global bubble tea market, owing to the growing tourism industry and rising café culture.
- Bubble tea is gaining rapid traction in Europe and North America, as an increasing number of consumers demand products containing healthy ingredients and unique mouthfeel characteristics.
- Shifting preferences toward packaged and branded tea products in the Asia Pacific region make it a profitable market.
- Asia Pacific is expected to hold the largest share in the market through 2027, attributable to the increasing popularity of cold tea and café culture. This is expected to create opportunities for the introduction of bubble tea in untapped markets in this region.
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Bubble Tea Market: Competitive Landscape
Players in the global bubble tea market are focusing on increasing their global market presence through their own shops, franchises, and partnerships with existing cafés and fast food joints. Manufacturers are also following the ongoing trend offering unique flavor profiles, and are using the widest variety of possible flavors to make bubble tea, owing to the increasing demand for new and innovative flavors by consumers.
- 8tea5 provides bubble tea with honeydew and milk, and winter melon and milk flavors, which have been gaining popularity amongst consumers.
- Companies such as Chattime, Gong cha USA CA, VIVI BUBBLE TEA, and others focus on providing franchisees to expand their business in regional and international markets.
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