Industry Background:
Bubble tea is one of the most consumed beverages containing tea as its key ingredient with chewy tapioca balls which is also known as bubble milk tea, boba tea or juice, pearl milk tea as well as simply a bubble tea. The positive health benefits, the introduction of new flavors of bubble tea and decreases in demand for carbonated drinks provide opportunities for market expansion.
According to AMA Research, the market for Bubble Tea is expected to register a CAGR of 7.15% during the forecast period to 2030. This growth is primarily driven by Health Benefits Associated with Bubble Tea
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2023-2030 |
Volume Unit | K Tons |
Value Unit | USD (Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Beverages sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Kung Fu Tea (United States), Gong Cha (Taiwan), Boba Guys Inc. (United States), Chatime (Taiwan), ShareTea (Taiwan), 8tea5 (Belgium), Kuai Ke Li Enterprise Co. Ltd. (Quickly) (Taiwan), OCOCO International Co., Ltd. (Taiwan), VIVI BUBBLE TEA (United States), Lollicup USA Inc. (United States) and CuppoTee Company (Taiwan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2019, 8tea5 inaugurated its newest store in Liege, Belgium.
"In April 2022: BUBLUV, a New York-based startup, introduced a better-for-you boba alternative across the country. The drink is keto-friendly and gluten-free in nature and is available in three different varieties, Black Milk Tea with Tapioca Pearls, Passionfruit Oolong Guava with Tapioca Pearls, and Matcha Soy Latte with Tapioca Pearls.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Introduction to Flavored Bubble Tea and Regional Expansion by the manufacturers of Bubble Tea
Market Growth Drivers:
Health Benefits Associated with Bubble Tea and Contains Rich Source of Antioxidants called Polyphenols.
Challenges:
Increasing Distribution Overheads across the Globe and Continuously Changing Consumer Preferences and Eating Styles
Restraints:
Addition of Artificial Preservatives and Colors
Opportunities:
Anti-Oxidant, Anti-Inflammatory and Anti-Carcinogenic Properties and Increasing Consumption in North American and European Market
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Bubble Tea Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Bubble Tea Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Bubble Tea players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Bubble Tea Study Sheds Light on
The Bubble Tea Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Bubble Tea industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Bubble Tea industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.