bubble tea market | homify
Back to Ideabooks

bubble tea market

Gunjan Hinge Gunjan Hinge
Edit
Add photo

The global 

bubble tea industry


 is

prophesied to gain traction on account of the increasing health concern among

people and the rising adoption of bubble tea, further attributed to its health

benefits. As per a recent report published by Fortune Business Insights

titled, Bubble Tea Market Size, Share and Global Trend By Type

(Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original, Fruit,

Chocolate, Coffee, and Others), and Regional Forecast till 2026,”

 the

market value stood at USD 1.89 billion in 2018


 and is likely

to rise at a CAGR of 8.09% 


to reach USD 3.49 billion

by 2026. 


 



Drivers & Restraints:




Low-calorie Content in Bubble Tea-

Major Growth Driver




Bubble-tea witnessed immense popularity

in the past few years on account of the rising prevalence of health-related

issues especially among the geriatric population. This urged people to incline

towards the healthy living trend, thereby increasing the popularity of healthy

food and beverage products. The aforementioned factor stated above is the

primary factor promoting the bubble tea market growth. Additionally, this tea

has low-calorie content, is low-fat, and comes in various flavors that are

further anticipated to attract more consumers, thereby boosting the market.



On the contrary, the presence of excess

sugar content in bubble tea may lead to health issues,  and this may pose

a major threat to the market. This, coupled with the high presence of coffee

lovers may also challenge the market in the forecast duration. Nevertheless,

the increasing number of vegan population and the rising popularity of organic

food and beverage culture is likely to create better growth opportunities for

the market in the coming years.



Key Segment:




Fruit Flavor Segment to Dominate Market

with its High Nutritional Value




Based on flavor type, the fruit flavor

segment earned the largest share in 2018 and is likely to continue its

dominance in the coming years. This is attributed to the variety in flavor, and

high nutritional value and high consumer preference.



Regional Analysis:




Asia Pacific Earned Highest Share Owing

to the Presence of High Tea Culture




Bubble tea is originally a Taiwanese

drink that later gained popularity and started expanding to the other parts of

the world. This acts as a major factor that helped Asia Pacific emerge dominant

in the market. In 2018, Asia Pacific earned USD 757.60 million. This, coupled

with the fact that tea is a highly consumed beverage in the entire region is

expected to help this region continue dominating the market in the coming years

as well.



North America ranks second in this

market on account of the increasing popularity of bubble tea and the rising

number of health-conscious people in the region.



Competitive Landscape




Heavy Investment on Improving

Functionality of Ingredients to help Players Gain Competitive Edge




The bubble tea industry is witnessing

notable growth with its increasing popularity and the rising expansion of

franchises all over the world. Vendors such as CuppoTee Company, Lollicup USA

Inc., Chatime, Bubble Tea House Company, and Gong Cha are investing massively

on research and development for producing better-flavored beverage products and

launching innovative products into the market.



Besides this, other players are

engaging in strategic collaborations such as mergers and acquisitions, joint

ventures, and partnerships to gain a competitive edge in the market.



Read More Press Release:



https://www.fortunebusinessinsights.com/press-release/savory-ingredients-market-9193