The Global Bubble Food & Beverages Market size is expected to reach $7 billion by 2028, rising at a market growth of 9.2% CAGR during the forecast period.
Taiwanese tea-based beverage bubble tea, sometimes referred to as pearl milk tea, boba juice, bubble milk tea, or simply boba or boba tea, was created in Tainan and Taichung. The majority of recipes for bubble tea start with a tea base that has been blended with fruit or milk. Then, chewy tapioca balls, also known as bubbles, pearls, boba, and fruit jelly are frequently added. Versions of ice-blended drinks typically contain fruit or syrup and have a slushy consistency.
The beverage comes in a wide variety of flavors and contains a variety of components. The two most popular flavors are tapioca-infused bubble milk tea and tapioca-infused bubble milk green tea. While emerging countries like China, Brazil, & India are swiftly catching up, developed countries like the U.S., Canada, and Germany have seen quite a high adoption of bubble tea.
Additionally, consumers' growing health consciousness and preference for healthy beverages including green tea, oolong tea, black tea, & white tea are contributing to the market's expansion. Moreover, the growth of the bubble tea market is fueled by an increase in the consumption of flavored bubble tea among young people. Aggressive marketing campaigns & celebrity endorsements have also paved the road for the market's expansion. The introduction of numerous new flavors and mixes as well as the high demand for a range of teas among young people are predicted to offer lucrative chances for market growth.
The market is expanding as a result of the rising popularity of quick snacks & drinks made with boba. The millennial generation & generation Z are particularly influenced by it. The demand for bubble tea has also increased as people prefer healthy drinks to carbonated ones. It is produced with milk as the base and tea, like black tea, green tea, oolong tea, etc., along with boba (crunchy balls) & fruit jelly. Beside this, social media significantly contributed to the popularity of bubble tea in the world.
The outbreak of the COVID-19 pandemic has had a detrimental effect on market growth. This is a result of the supply delay for boba, a crucial component of bubble tea. The COVID-19 pandemic had a significant impact on many facets of society, including the bubble tea market. The continuation of safety precautions, efficient diagnostic testing, along with broad immunization is necessary for things to get back to normal. Industry-wide supply chain & logistics disruptions brought on by COVID-19, such as those in the bubble tea market, have been well-documented & have gone worse in the second half of 2021.
The market offers a variety of sorts & tastes, including green jasmine, fruit-flavored, & black tea. There are several varieties of fruit-flavored tea, including sweetened fruit drinks & cream drinks with fruit flavoring. The lactose-intolerant population has access to black, green jasmine, & other tea varieties. The consumer has additional alternatives due to the availability of many boba tea varieties. This marketing tactic aids in bringing more customers. In an effort to draw customers, companies are also introducing new flavors and compositions.
Consumers are turning to sugar substitutes such as agave, stevia, & honey caused by diseases like obesity & diabetes are linked to an increase in sugar intake. These kinds of natural sweeteners are used to replace or lower the amount of sugar in boba tea. These natural sweeteners are preferred by diabetics and health-conscious individuals over normal sugar. Due to these goods' advantageous characteristics, such as their antioxidant, anti-inflammatory, and anti-carcinogenic capabilities, consumers strongly like them.
The widespread availability of other caffeinated drinks like coffee & trends in coffee consumption in western countries offers a barrier to the growing demand for such tea as an innovative beverage. The demand for coffee has increased as a result of expanding usage as an energy booster and improved availability as a ready-to-drink to accommodate consumers' on-the-go lifestyles. A surplus of creative coffees, including cold brew, snap chilled, nitro cold brew, and effervescent canned coffee, are available in a diversity of practical coffee categories.
On the basis of products, the bubble food & beverages market is segmented into fruit snacks, desserts, bubble tea, fruit beverages and others. The desserts segment acquired a substantial share in the bubble food & beverages market in 2021. The segment growth is predicted to be aided by the availability of a variety of sweets produced with boba pearls, including boba waffles, shaved ice desserts, & boba wheel pie. Chefs are utilizing boba pearls to improve the flavors of iced & heated desserts because customers are interested in experiencing new pudding flavors at high-end restaurants and cafés.
By source, the bubble food & beverages market is fragmented into tapioca based and bursting bubble. In 2021, the tapioca-based segment held the largest revenue share in the bubble food & beverage market. Tapioca is a key component in the creation of tapioca boba pearls and is obtained from the cassava root. Further increasing demand for tapioca-based boba that has been mixed with a variety of natural ingredients is the increased desire for vegan food & beverages.
Based on distribution channel, the bubble food & beverage market is classified into off-trade (hypermarkets & supermarkets, online & others) and on-trade. The off-trade segment procured a significant share in the bubble food & beverages market. Online shops, hypermarkets, grocery stores, & other retailers are included in the off-trade segment. Consumers are increasingly using the internet, and businesses are targeting their marketing to all consumer touchpoints, which is anticipated to drive this market's growth.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.8 Billion |
| Market size forecast in 2028 | USD 7 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 9.2% from 2022 to 2028 |
| Number of Pages | 224 |
| Number of Tables | 438 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Product, Source, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the bubble food & beverages market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region witnessed the highest revenue share in the bubble food & beverages market. This is attributed by a rise in the popularity of bubble meals & drinks in nations such as Thailand, China, New Zealand & Australia. Further, the segment development is projected to be aided by an increase in the number of product releases in regions like China, Thailand, and Australia. Also, the demand for bubble tea is growing in the region due to the fact that it may decrease stress.
Free Valuable Insights: Global Bubble Food & Beverages Market size to reach USD 7 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Del Monte Pacific Limited, Bubble Tea Club, Fokus Inc., Gong Cha, Ten Ren Tea Co., Ltd., Modoo Food Ltd., Lollicup USA Inc., and Bubble Tea Supply Inc.
By Distribution Channel
By Source
By Product
By Geography
The global Bubble Food & Beverages Market size is expected to reach $7 billion by 2028.
Presence Of Large Variety Of Products are driving the market in coming years, however, Presence Of Other Alternative Beverages restraints the growth of the market.
Del Monte Pacific Limited, Bubble Tea Club, Fokus Inc., Gong Cha, Ten Ren Tea Co., Ltd., Modoo Food Ltd., Lollicup USA Inc., and Bubble Tea Supply Inc.
The On-trade segment acquired maximum revenue share in the Global Bubble Food & Beverages Market by Distribution Channel in 2021 thereby, achieving a market value of $4.1 billion by 2028.
The Bubble Tea segment is leading the Global Bubble Food & Beverages Market by Product in 2021, thereby, achieving a market value of $3.6 billion by 2028.
The Asia Pacific market dominated the Global Bubble Food & Beverages Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.6 billion by 2028.
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