Bubble Tea Market Size, Share, Analysis, Trends and Strategies 2024-2032 | Chatime Group (China), Gong Cha (Taiwan), Gong Cha (Taiwan)

The global bubble tea market, valued at USD 2.46 billion in 2023, is projected to grow from USD 2.63 billion in 2024 to USD 4.78 billion by 2032, with a compound annual growth rate (CAGR) of 7.74%.
Bubble tea, known for its distinctive recipe, has gained popularity in Western countries such as Canada and the U.K. while continuing to thrive in its region of origin. This sweetened tea, made from premium milk, tapioca pearls, creamer, sweeteners, and fruit powder, has evolved into a global cultural icon, showcasing Taiwan's innovative contributions to the food service industry.
These insights are detailed in the report by Fortune Business Insights™ titled "Bubble Tea Market, 2024-2032."

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.fortunebusinessinsights.com/enquiry/queries/bubble-tea-market-101564

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
• Chatime Group (China)
• Gong Cha (Taiwan)
• Coco Fresh Tea & Juice (Taiwan)
• Quickly (U.S.)
• Xing Fu Tang (Taiwan)
• Lollicup USA, Inc. (U.S.)
• TIGER SUGAR (China)
• Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan)
• O.I. The Co, LTD. (Taiwan)

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬:
𝐁𝐥𝐚𝐜𝐤 𝐓𝐞𝐚 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐖𝐢𝐭𝐧𝐞𝐬𝐬 𝐌𝐨𝐧𝐮𝐦𝐞𝐧𝐭𝐚𝐥 𝐃𝐞𝐦𝐚𝐧𝐝 𝐃𝐮𝐫𝐢𝐧𝐠 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟎
As more customers are becoming health-conscious worldwide, the black tea category is expected to rise at a considerable CAGR throughout the forecast period. Due to its potent antioxidant, anti-aging, and anti-diabetic qualities, black tea is heavily promoted. One of the key aspects that would support the expansion of this market segment is the increase in consumer preference for natural and organic food and beverage items. The green tea segment is anticipated to account for a sizable portion of the bubble tea market share, closely followed by black tea.

Fruit Flavor to Experience Increasing Popularity in the Coming Years
The market is divided into coffee, fruit, chocolate, original, and other taste categories. The market in 2019 was led by fruit flavor, which is more popular than other flavors. Lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and other flavors are among the taste variations that are present in it. Due to its high nutritional content in comparison to other tastes, the high popularity of tea-based fruity beverages, and strong consumer preference, this market is predicted to increase significantly over the course of the forecast period. Due to the rising demand for beverages with chocolate as an ingredient across all age groups, the chocolate segment is predicted to develop at the quickest rate in the future years.

𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞
𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐮𝐛𝐛𝐥𝐞 𝐭𝐞𝐚 𝐦𝐚𝐫𝐤𝐞𝐭 𝐨𝐟𝐟𝐞𝐫𝐬:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into regional developments.
• List of major industry players.
• Key strategies adopted by the bubble tea market players.
• Recent industry developments include product launches, partnerships, mergers, and acquisitions.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.fortunebusinessinsights.com/enquiry/customization/bubble-tea-market-101564

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬
𝐄𝐱𝐩𝐚𝐧𝐝𝐢𝐧𝐠 𝐑𝐚𝐧𝐠𝐞 𝐨𝐟 𝐁𝐨𝐛𝐚 𝐓𝐞𝐚 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬 𝐭𝐨 𝐀𝐮𝐠𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐡𝐚𝐫𝐞
The growing popularity of bubble milk tea is driven by factors such as consumer taste preferences, pricing, brand influence, and accessibility. To meet these demands, tea producers are focusing on premium products and continuously innovating classic tea recipes. This emphasis on taste, convenience, and innovation has significantly boosted the popularity of bubble milk tea.
The market potential for bubble milk tea is substantial, with a wide range of options available, including fruit-flavored, green jasmine, and black tea-based milk teas. For example, Bubluv Inc., a U.S.-based startup, introduced three new varieties of boba tea made with tapioca starch and konjac in April 2022. Such product diversification and innovation are key drivers of growth in the bubble tea market.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐃𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐀𝐬 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐍𝐞𝐰 𝐁𝐞𝐯𝐞𝐫𝐚𝐠𝐞 𝐎𝐩𝐭𝐢𝐨𝐧𝐬
In 2022, the Asia Pacific region led the bubble tea market with a valuation of USD 0.96 billion, with Taiwan and Vietnam playing significant roles in driving high sales figures. The trend of opening dedicated bubble tea cafés and restaurants is on the rise, as manufacturers and business owners aim to capture a larger market share. For example, Chen Shucheng launched Meme Xpress, a new bubble milk tea business, in Singapore in September 2020.
North America is the second-largest market for bubble tea, a position expected to continue. The rising popularity of tea-based beverages has led to increased bubble tea consumption in the region. Additionally, the European market has also experienced a rise in pearl milk tea consumption during the same period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bubble-tea-market-101564

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐁𝐢𝐝 𝐭𝐨 𝐋𝐚𝐮𝐧𝐜𝐡 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐭𝐨 𝐊𝐞𝐞𝐩 𝐏𝐚𝐜𝐞 𝐰𝐢𝐭𝐡 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐏𝐨𝐩𝐮𝐥𝐚𝐫𝐢𝐭𝐲
Top players in the bubble tea market are concentrating on leveraging their ingredients to meet growing consumer demand. Companies such as Lollicup U.S.A. Inc., Gong Cha, and Chatime are heavily investing in research and development to introduce new tea varieties and cater to the expanding market. Other notable players include Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. These leading competitors are also franchising their businesses to new locations, capitalizing on their high customer popularity and positive response rates.

𝐊𝐞𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐𝟎𝟐𝟏: Del Monte launched Joyba Bubble Tea in selected outlets, including Costco, Circle K, Albertson's, Target Stores, and Safeway.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐍𝐞𝐰𝐬:
Non-alcoholic Beverages Market: https://www.fortunebusinessinsights.com/industry-reports/non-alcoholic-beverages-market-101927
Ready to Drink (RTD) Coffee Market: https://www.fortunebusinessinsights.com/industry-reports/ready-to-drink-rtd-coffee-market-100285

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This release was published on openPR.