Bubble Tea Market Expected to Rise at a CAGR of 7.4% and Surpass $4,552.9 Million from 2021 to 2028

The global bubble tea market is projected to observe prominent growth over the forecast period, owing to the rising popularity and health benefits associated with the consumption of bubble tea. The North America region is anticipated to dominate in the global industry by 2028.

According to a newly published report by Research Dive, the global bubble tea market is estimated to generate a revenue of $4,552.9 million by 2028, and grow at significant CAGR of 7.4% over the forecast period (2021 to 2028).

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/4743

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
The rising popularity of bubble tea owing to its delicious taste and various health benefits such as helps in boosting immunity, weight loss process, and others is the major factor expected to foster the growth of the global bubble tea market in the coming years. Moreover, the introduction of new bubble tea flavors including fruit flavors like apple, banana, kiwi, watermelon, lychee, and others are anticipated to create huge growth opportunities in the global market by 2028. On the contrary, the rise in number of people consuming coffee due to its several health benefits is estimated to restrict the market growth in projected timeframe.

𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲
The COVID-19 pandemic has impacted the global bubble tea market in a negative way. The unexpected decline in the market growth can be attributed to complete lockdown and ban on import-export across various countries. In addition, the global supply chain disruptions and the implications of the governments on closure of cafes, farms, restaurants, production unit, and factories to maintain social distancing measures led to a drop in sales and demand for bubble tea. However, many governments across the globe are taking measures to expand the bubble tea business across various countries, which is predicted to help the market sustain during the pandemic.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The research report segments the global bubble tea market into base ingredient, chocolate flavor, component. and region.

By base ingredient, the black tea sub-segment is estimated to account for majority of market share and generate a revenue of $1,864.8 million by 2028. This is mainly due to various health benefits associated with the consumption of black tea as a base ingredient in bubble tea, such as increasing alertness, improving metabolism, boosting energy, improving heart health, and others.

By flavor, the chocolate flavor sub-segment is projected to register fastest growth and generate $345.6 million during the forecast period. The rapid growth of this sub-segment is mainly owing to growing popularity of chocolate flavor with tea and its various health benefits like relieving physical stress and stimulating the functioning of brain.

By component, the liquid sub-segment is estimated to dominate the global industry and surpass $1,703.4 million during the forecast period. This growth is mainly because the combination of bubble tea with liquid flavors such as black tea, green tea, oolong tea, and others is increasing across the globe as liquid bubble tea can be combined with various fruit juices & syrups.

By region, the North America market for bubble tea accounted for $1,429.3 million in 2020 and is projected to attain a leading position in the global industry by 2028. The dominance of this region is majorly due to the rapid growth in consumption of tea and the availability of various flavors in bubble tea such as fruit, coffee, chocolate, original, and other flavors.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/4743

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Some of the top players of the global bubble tea industry are: Kung Fu Tea, Bubble Tea House Company, Bobabox Limited, Cuppotee, ShareTea, Gong Cha, Sumo's (M) Sdn Bhd, The Bubble Tea Company, Ten Ren's Tea Time, and ViVi Bubble Tea. These players are implementing numerous strategies to gain a competitive edge in the global industry.

The report presents several aspects of these major players such as business & financial performance, latest developments, key strategic moves, SWOT analysis, and product portfolio.

𝐌𝐚𝐣𝐨𝐫 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Black Tea Extracts Market: https://www.researchdive.com/4836/black-tea-extracts-market

Coffee Market: https://www.researchdive.com/4155/coffee-market

Juice Packaging Market: https://www.researchdive.com/4208/juice-packaging-market

Squash Drinks Market: https://www.researchdive.com/4513/squash-drinks-market

Coconut Syrup Market: https://www.researchdive.com/4694/coconut-syrup-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

𝐌𝐫. 𝐀𝐛𝐡𝐢𝐬𝐡𝐞𝐤 𝐏𝐚𝐥𝐢𝐰𝐚𝐥

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞

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𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞: 𝟏-𝟖𝟖𝟖-𝟗𝟔𝟏-𝟒𝟒𝟓𝟒

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