Published Date: 31-Jul-2022
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According to a new report, published by KBV research, 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.
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. Due to shifting demographics & economic levels, fast urbanization, and growing westernization, which frequently encourage the buying of trendy and handcrafted goods, on-trade channels have gained pace. The demand for handcrafted bubble food and beverages has also been fueled by increased consumer preferences for convenience, cleanliness, and high standards.
The Bursting Bubble segment is showcasing a CAGR of 10.1% during (2022 - 2028). Popping boba, often referred to as bursting boba, is a jelly-like ball of fluid that, when chewed, bursts. The market is being driven by the availability of several varieties of popping boba, including strawberry, mango, green apple, green tea, lychee, honey melon, and pomegranate, & orange. In turn, this is boosting market growth over the course of the forecast period.
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 beverage sector is witnessing a rise in the popularity of bubble tea, also known as boba tea. This is due to its distinctive flavor along with availability in a variety of flavors, which is, in turn, boosting its demand. Pure loose-leaf tea blends, coffee, fruits, & even cutting-edge ingredients like rosewater, taro, or coconut water are used to make it.
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. The North America market is poised to grow a CAGR of 8.4% during (2022 - 2028). Additionally, The Europe market would witness a CAGR of 8.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
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