About Boba Tea
Boba 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 of boba tea and the introduction to flavored bubble tea will ultimately encourage consumers across the globe. Originating in Taiwan, the awareness about bubble or boba tea has been prevailing across the developing nations. However, significant prices might stagnate the demand for boba tea.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
CAGR | 7.21% |
The Vendors having a strong hold in the market are Kung Fu Tea, Gong Cha, Boba Guys, and Chatime. Analyst at AMA Research estimates that Asian Vendors will contribute the maximum growth to Global Boba Tea market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Bubble Tea House Company (United Kingdom), Ten Ren's Tea Time (United States), Sumos Sdn Bhd (Malaysia), Troika JC. (Qbubble) (United States) and Fokus Inc. (Taiwan).
Segmentation Overview
AMA Research has segmented the market of Global Boba Tea market by Type (Black Boba, Clear Boba, Flavored Tapioca Boba and Others), Application (Kids (<10 years), Teenagers (<25 years) and Adults) and Region.
On the basis of geography, the market of Boba Tea has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Tea Type, the sub-segment i.e. Black Tea will boost the Boba Tea market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets will boost the Boba Tea market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Flavour, the sub-segment i.e. Original Flavor will boost the Boba Tea market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction to Flavored Boba Tea and Regional Expansion by the manufacturers of the Global Boba Tea Market
Market Growth Drivers:
Health Benefits Associated with Boba Tea and Contains a Rich Source of Antioxidants called Polyphenols
Challenges:
Increasing Distribution Overheads across the Globe and Continuously Changing Consumer Preferences and Eating Styles
Restraints:
Increasing Addition of Artificial Preservatives and Colors
Opportunities:
Anti-oxidant, Anti-Inflammatory, and Anti-Carcinogenic Properties and Increasing Consumption in North American and European Markets
On 16th August 2018, ShareTea opened 2 more stores in the Southern California state including Irvine and Rowland Heights. In January 2018, the company opened a new store in Vietnam. Moreover, in April 2017, the company made an official announcement to clarify that Sharetea only has one trademark 'Sharetea' being used in the brand name, logo, symbol, designs, and all related marketing materials. There is no other Sub-Brand or Co-Brand authorized by Sharetea.
Key Target Audience
Bubble Tea Manufacturers, Bubble Tea Distributors and Traders, Bubble Team Upstream and Downstream Buyers, Industrial Associations, Private Organizations, Government Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.