The bubble Tea Market is expected to foresee significant growth. North America to lead the growth!

The bubble Tea Market is expected to grow at a CAGR of around 7.7% during the forecast period 2021-2027.The market stood at around US$ XX billion in 2020. Due to the growing popularity of café culture, sales of bubble tea or pearl milk tea are growing astronomically. In addition to this, increasing demand for healthier alternatives to carbonated drinks is fueling the bubble tea market growth. Moreover, another prominent factor driving the growth of the bubble tea market is a surge in the consumption of flavored bubble tea among the young population. Furthermore, aggressive advertising and celebrity endorsements have helped the market to reach new heights.

However, health concerns associated with excess sugar content in these drinks, changing consumer preference toward organic beverages, and rising trend of coffee consumption are the most challenging factors projected to restrain the market growth

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Overall Bubble Tea industry is expected to witness strong and long-term demand, primarily due to the increase in consumption of flavored beverages coupled with the consumption of tea and coffee as nootropic drinks among the working-class population and students. In addition to this, owing to the distinct taste and availability of various flavors, such as fruits, chocolate, coffee, and simple classics, bubble tea is gaining immense popularity, which, in turn, contributes to the overall market growth. However, The COVID-19 pandemic has compelled government agencies to impose strict closures of restaurants and factories in order to maintain safety measures and implement social distancing. This has resulted in transportation delays and the functioning of both supplies (tea estates) and demand for consumption points coming to a halt due to a lack of manpower and reduced customer visits to coffee shops during the lockdown.

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Based on the component, the market is bifurcated into Flavor, Creamer, Sweetener, Liquid, and Tapioca pearls. Among these segments, Liquid acquires the major share of the global bubble tea market. It is due to the fact that liquid is the most essential component and the main body of the drink in which consumers will add the rest of the components. Also, the availability of different options like a combination of various liquid flavors and syrups is likely to fuel the growth of the liquid segment. Apart from this, Tapioca pearls are another main ingredient of bubble tea. It is the most frequent topping used in bubble tea. The color of pearl varies according to the additives used in tapioca. Moreover, the sweetener segment is projected to witness the highest growth, owing to the mounting demand for sweet beverages across the globe.

Based on the distribution channel, the market is bifurcated into Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Stores. Among these, online stores are anticipated to witness the fastest growth during the forecast period. It is due to the availability of a large variety of products in one place and the high convenience associated with online shopping. There are various bubble tea brands that offer online delivery of their products that may be pre-booked and organized to be delivered at a specific time. Furthermore, online stores save the time of traveling to the store and avoiding the rush at the physical space. In addition to this, the outbreak of the COVID-19 pandemic propelled the adoption of the online channel due to the shutdown of the majority of the restaurants and other physical gathering spaces in order to mitigate the spread of disease. Therefore, the pandemic has encouraged the dependency on online stores, which, in turn, is likely to boost the segment growth.

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For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific); and Rest of World. In 2020, the Asia Pacific region held the highest market share in the global Bubble Tea market. It is primarily due to the rapidly growing population and high consumer base consuming Bubble Tea across the different regions. The major consuming countries in the North American region are the United States and Canada. U.S. is projected to grow at the highest CAGR during the forecast period. It is primarily due to the increasing trend of veganism. This has further led to the boost the adoption of bubble tea among consumers owing to its variety of flavors and components used in it.

Bubble Tea Market Segmentation

Market Insight, by Type

• Black Tea
• Green Tea
• Oolong Tea
• White Tea

Market Insight, by Flavor

• Original Flavor
• Fruit Flavor
• Chocolate Flavor
• Coffee Flavor
• Others

Market Insight, by Component

• Flavor
• Creamer
• Sweetener
• Liquid
• Tapioca pearls
• Others

Market Insight, by Distribution Channel

• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Online Stores

Market Insight, by Region

• North America
  • United States
  • Canada
• Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Coco fresh Tea & Juice
• ChaTime Group
• Bubble Tea Supply Inc.
• Gong Cha
• Sharetea
• Bubble Tea House Company
• Ten Ren’s Tea Time
• Happy Lemon
• Kung Fu Tea
• Tiger Sugar