Product Code: r7609
“Bubble Tea Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bubble tea market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for bubble tea ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The bubble tea market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Type: Black Tea; Green Tea; Oolong Tea; White Tea; Other Types
- 2) By Flavor: Original; Fruit; Coffee; Chocolate; Other Flavors
- 3) By Component: Flavor; Creamer; Sweetener; Liquid; Tapioca Pearls; Other Components
- Companies Mentioned: Lollicup Inc.; CuppoTee Company; Bubble Tea House Company; Ten Ren's Tea Co. Ltd.; Boba Box Limited
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the bubble tea market are: Lollicup Inc., CuppoTee Company, Bubble Tea House Company, Ten Ren's Tea Co. Ltd., Boba Box Limited, Sumos Sdn Bhd, Boba Tea Company, Troika JC. (Qbubble), Fokus Inc., Tea Time, Kuaikeli Enterprise Co. Ltd., COCO International Co. Ltd., Kung Fu Tea, Gong Cha, Boba Guys Inc., Zacely Limited (Bubble Tea House Company), CAFE POS LLC, Kevito Ltd., Qbubble Troika J C Inc., Ichibanya Co. Ltd. and Biju Bubble Tea.
The global bubble tea market is expected to grow from $2.69 billion in 2022 to $2.89 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bubble tea market is expected to reach $3.93 billion in 2027 at a CAGR of 7.9%.
The bubble tea market consists of sales of teas without milk and milk teas. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Bubble tea is a Taiwanese tea-based drink also known as boba milk tea. Bubble tea is a cold, frothy drink made with a tea base shaken with flavors, sweeteners, or milk with tapioca pearls at the base of the drink.
Asia-Pacific was the largest region in the bubble tea market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of bubble teas are black tea, green tea, oolong tea, white tea, and others. Black tea is a more oxidized tea manufactured from the leaves of the Camellia sinensis plant than other varieties of tea. It has various flavors, such as original, fruit, coffee, chocolate, and others, and various components, such as flavor, creamer, sweetener, liquid, tapioca pearls, and others.
The increase in tea consumption is expected to propel the bubble tea market going forward. Tea is a beverage created by pouring hot water over dried and chopped leaves and sometimes blossoms, most notably from the Camellia sinensis plant. Tea has long been a popular beverage across the world, and its popularity has increased rapidly in recent years due to its numerous health advantages and adaptability. With rising popularity of tea, customers are expected to seek for new and novel tea-based beverages, such as bubble tea. As more individuals seek out this distinctive and refreshing beverage, this trend is projected to fuel development in the bubble tea market. Furthermore, the rise of specialty tea shops and the availability of online ordering has made it easier than ever for consumers to discover and enjoy bubble tea. For instance, according to the Tea Association of the USA Inc. a US-based authority on tea states that, the American tea market expanded. The overall amount of tea imported is up more than 8% as of September, with black tea imports exceeding those of the previous year by more than 9%. Additionally, the International Tea Committee (ITC), a UK-based organization, reports that tea consumption has increased 113% to 6.7 million metric tons in 2022, more than doubling in the previous 20 years. Therefore, a rise in the consumption of tea will drive the bubble tea market.
Product innovation is a key trend gaining popularity in the bubble tea market. Companies operating in the bubble tea market are coming up with innovative types of bubble tea to gain a major market position. For instance, in October 2021, Del Monte Foods a US-based food production and distribution company, launched its newest innovation, JoybaTM Bubble Tea to provide a new, distinctive, and enjoyable experience that also tastes wonderful, we produced a blast of fruity, exploding boba that provides surprising textures. It has no artificial flavors or sweeteners and is non-GMO, BPA-free, and gluten-free. Each 12-ounce cup features real fruit tastes infused in a variety of teas such as green tea, black tea, and hibiscus tea, which is caffeine-free.
In 2021, Jollibee Foods Corporation (JFC) acquired a majority stake in Milkshop International. The acquisition allows Jollibee Foods Corporation to participate in this rapidly growing beverage category. Milkshop International Co. Ltd. is a Taiwanese-based specialty tea operator, including bubble tea.
The countries covered in the bubble tea market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bubble tea market research report is one of a series of new reports from The Business Research Company that provides bubble tea market statistics, including bubble tea industry global market size, regional shares, competitors with a bubble tea market share, detailed bubble tea market segments, market trends and opportunities, and any further data you may need to thrive in the bubble tea industry. This bubble tea market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Table of Contents
1. Executive Summary
2. Bubble Tea Market Characteristics
3. Bubble Tea Market Trends And Strategies
4. Bubble Tea Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Bubble Tea Market
- 4.2. Ukraine-Russia War Impact On Bubble Tea Market
- 4.3. Impact Of High Inflation On Bubble Tea Market
5. Bubble Tea Market Size And Growth
- 5.1. Global Bubble Tea Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Bubble Tea Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Bubble Tea Market Segmentation
- 6.1. Global Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Black Tea
- Green Tea
- Oolong Tea
- White Tea
- Other Types
- 6.2. Global Bubble Tea Market, Segmentation By Flavor, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Original
- Fruit
- Coffee
- Chocolate
- Other Flavors
- 6.3. Global Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Flavor
- Creamer
- Sweetener
- Liquid
- Tapioca Pearls
- Other Components
7. Bubble Tea Market Regional And Country Analysis
- 7.1. Global Bubble Tea Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Bubble Tea Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Bubble Tea Market
- 8.1. Asia-Pacific Bubble Tea Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Bubble Tea Market
- 9.1. China Bubble Tea Market Overview
- 9.2. China Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Bubble Tea Market
- 10.1. India Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Bubble Tea Market
- 11.1. Japan Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Bubble Tea Market
- 12.1. Australia Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Bubble Tea Market
- 13.1. Indonesia Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Bubble Tea Market
- 14.1. South Korea Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Bubble Tea Market
- 15.1. Western Europe Bubble Tea Market Overview
- 15.2. Western Europe Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Bubble Tea Market
- 16.1. UK Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Bubble Tea Market
- 17.1. Germany Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Bubble Tea Market
- 18.1. France Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Bubble Tea Market
- 19.1. Eastern Europe Bubble Tea Market Overview
- 19.2. Eastern Europe Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Bubble Tea Market
- 20.1. Russia Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Bubble Tea Market
- 21.1. North America Bubble Tea Market Overview
- 21.2. North America Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Bubble Tea Market
- 22.1. USA Bubble Tea Market Overview
- 22.2. USA Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Bubble Tea Market
- 23.1. South America Bubble Tea Market Overview
- 23.2. South America Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Bubble Tea Market
- 24.1. Brazil Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Bubble Tea Market
- 25.1. Middle East Bubble Tea Market Overview
- 25.2. Middle East Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Bubble Tea Market
- 26.1. Africa Bubble Tea Market Overview
- 26.2. Africa Bubble Tea Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Bubble Tea Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Bubble Tea Market Competitive Landscape And Company Profiles
- 27.1. Bubble Tea Market Competitive Landscape
- 27.2. Bubble Tea Market Company Profiles
- 27.2.1. Lollicup Inc.
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. CuppoTee Company
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Bubble Tea House Company
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Boba Box Limited
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Fokus Inc.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Bubble Tea Market
29. Bubble Tea Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer