Bubble Tea Market

Global Bubble Tea Market Size (2024 to 2032)

The Global Bubble Tea market was valued at USD 2.32 billion in 2023. The global market size is expected to grow at a CAGR of 7.2% from 2024 to 2032 and be worth USD 4.34 billion by 2032 from USD 2.49 billion in 2024.

MARKET OVERVIEW

Bubble tea has different names, it also known as bubble milk tea, pearl milk tea, boba tea, and simply boba. In the 1980s in Tainan and Taichung invented these Taiwanese tea-based drinks. Maximum of the bubble tea recipes have a tea base added with the milk or fruits. Bubble tea has stood attainment grip in emerging markets, owing to growth in its attractiveness. Moreover, evolution in health consciousness and upsurge in acceptance of healthy beverages such as black tea, white tea, green tea, and oolong tea amongst users drive the Bubble Tea Market growth.

There are different types and flavors available in the market, such as fruit flavors, green jasmine, and black tea. Fruit flavored tea has different types, such as fruity cream drink and sweet fruit drink. The lactose intolerant population has the option of consuming black tea, green jasmine, green tea, and others. The availability of different types of boba tea gives the consumer more options. Its outlets are also launching new flavors and formulations to attract consumers.

In addition, the movement of millennials towards these products due to their demand for premium tea varieties with unique flavor offerings has contributed to the growth. Diseases such as obesity and diabetes associated with increased sugar intake have led consumers to turn to sugar alternatives such as stevia, agave, and honey. These are the types of natural sweeteners that are added to boba tea to replace or reduce sugar intake. Consumers prefer these products for their beneficial properties, such as antioxidants, anti-inflammatory, and anticancer. Despite the growing demand for this tea as an innovative beverage, the wide availability of other caffeinated beverages such as coffee and coffee consumption trends in Western countries is a limitation. The increasing inclusion of coffee in the diet as an energy booster coupled with its increased convenience of consumption as a ready-to-drink beverage to suit consumers' active lifestyles has led to increased demand.

The variety of convenient coffee categories offers a plethora of innovative coffees such as cold coffee, cold coffee, nitro coffee, and canned carbonated coffee. It has caught the attention of consumers considerably. Furthermore, the availability of many flavors in coffee such as caramel, hazelnut, caramel and vanilla would also hamper the growth of global consumption.

REPORT COVERAGE

This research report on the Global Bubble Tea Market has been segmented and sub-segmented based on base Ingredient, flavor, component, and region.   

Global Bubble Tea Market By Base Ingredient

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

Based on the Base Ingredient segment is sub-classified into Green Tea, Oolong Tea, Black Tea, and White Tea. Based on Flavors, it is subdivided into the coffee flavor, fruit flavor, original flavor, chocolate flavor, and others. And Based on Component, is divided into tapioca pearls, creamer, sweetener, flavor, liquid, and others.

According to a research study, based on Base Ingredient segment, the sub-segment black tea made high revenue in 2019, and also this sub-segment is projected to maintain this flow trend in coming years.

Global Bubble Tea Market By Flavor

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

The segment By Flavor, in 2019, the fruit flavor was utmost major segment calculated for the large share in the Global Bubble Tea Market. The segment liquid component was the most prominent segment accounting for the highest share in the bubble tea market.

Global Bubble Tea Market By Component

• Flavor 
• Creamer 
• Sweetener 
• Liquid 
• Tapioca Pearls 

Global Bubble Tea Market By Region

• North America
• Europe
• Asia - pacific
• Latin America 
• Middle East and Africa 

The Global Bubble Tea Market is categorized into North America (United States, Canada), Asia Pacific (India, China, Japan, Korea, Singapore, Australia, and Malaysia), Europe (United Kingdom, Italy, Spain, France, Germany, and Landon), Latin America (Brazil, Mexico, and Argentina), Middle East and Africa (United Arab Emirates, Saudi Arabia, and South Africa), and Rest of the world.

Among all regions, the North America region was the major regional market in 2019. North America bubble tea market can be recognized to the increase in cognizance regarding healthy lifestyle and larger consumption of healthy beverages. Europe region is projected to grow with the maximum CAGR during the forecast period.

The origin and reinvention of bubble tea dates back to Taiwan. Subsequently, it spread rapidly to the countries of Asia Pacific in recent years. Currently, the Asia-Pacific region has the largest market share and is expected to grow at a CAGR of 10.07% over the forecast period. Vietnam and Taiwan are expected to make the biggest sales. Many manufacturers are launching new restaurants / cafes to attract consumers and strengthen their market presence. After Asia-Pacific, North America is also expected to have the second largest share during the forecast period.

Countries in North America and Europe are gradually increasing the consumption of this tea due to the increasing popularity of fruity tea drinks. Additionally, there has been an increase in boba stores in the US and UK, which has contributed to the growth of the bubble tea market. Consumers are turning to non-alcoholic and low-alcohol beverages. This changed his preferences for such tasty tea-based drinks. The Middle East and Africa is one of the main emerging regions, which will generate significant opportunities in the bubble tea during the forecast period due to the increase in the consumption of tea and coffee as beverages. Nootropics among college students and the working class population are a key driver for the growth of the market. 

The Latin America region is expected to see moderate growth during the forecast period due to increased health awareness and increased adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea between consumers driving the market. 

KEY MARKET PLAYERS

Some of the Key players listed in the global bubble tea market include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC, Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise.