According to a new research report compiled by Fact.MR, the global Bubble Tea Market is expected to reach a size of US$ 1.71 billion in 2024 and subsequently expand at a CAGR of 8.1% from 2024 to 2034. The market is forecasted to climb to a value of US$ 3.72 billion by the end of 2034.
Bubble tea is made from a tea base mixed with fruit and/or milk as well as chewy tapioca balls.
Consumers Want Choices
Customization is the main reason these beverages have gained immense popularity, as consumers' increasing interest in innovative beverages with bold flavors is propelling the bubble tea market forward, especially amongst Millennials, who are recognized for being willing to sample new flavors.
Leading companies in the bubble tea industry are concentrating on launching novel drinks with a variety of tastes, such as milk, dried fruit, apple, mango, lychee and many more. Other popular flavors currently include green jasmine and black tea.
Healthy Options
Also driving the market is consumer preference for beverages made from natural ingredients. There is now a growing availability of zero-fat, low-calorie, and even lactose-free options in bubble tea stores.
Pearl milk tea, a healthier alternative to carbonated beverages typically made from black tea, milk, sugar, and tapioca pearls, is also helping to boost demand for bubble tea.
“Bubble tea comes with several health benefits, and includes antioxidants that help combat cell damage," said a Fact.MR analyst. "It has anti-inflammatory properties and potential benefits for cholesterol and triglyceride levels. These attributes are attracting consumers who are specifically looking for functional beverages."
Growth Across the Globe
The market in the United States is expected to reach a value of US$ 179.3 million in 2024. China is analyzed to account for a market share of 48.7% in East Asia by the end of 2034.
Revenue from the sales of bubble tea in Japan is forecasted to reach US$ 248.9 million by the end of 2034. Sales of flavored bubble tea are evaluated to reach US$ 3.17 billion by the end of 2024.
The On-Premise is a Big Channel for Bubble Tea
Bubble tea is increasingly popular in the food and beverage industry, and coffee shops and cafés are the fastest-growing foodservice industry segments, especially in South Asian and Pacific countries. Bubble tea beverage sales are expected to increase as café culture becomes more popular and consumers demand innovative and unique foods.
Young consumers primarily drive the popularity of bubble tea. Bubble tea is becoming increasingly popular on Chinese social media platforms such as Weibo and Douyin (TikTok) due to its visually appealing nature. Many bubble tea shops in China use mobile ordering and payment systems, making purchases more convenient for tech-savvy customers.
Plan to Attend or Participate in World Tea Expo, March 24-26, 2025
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