A paid subscription is required for full access. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. Remarkable job and great efforts by your research team. Statista. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Bubbling over. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. In Singapore, there has been renewed hype in bubble tea in the past year, spurred by the entrance of well-known global franchises, and local entrepreneurs stepping up to give those brands a run for their money. [Online]. To use individual functions (e.g., mark statistics as favourites, set This article was first published on 27 December, 2019. diabetes, heart disease, stroke and cancer. Contact us, Last week, it was announced that Singapore will soon require food and beverage outlets to, Nutrition labels for drinks high in sugar, saturated fat to be rolled out in practical manner: MOH, HPB, Nutrition labels required by end 2023 for freshly prepared drinks that are higher in sugar, fat content. You only have access to basic statistics. The report covered all the points and was very detailed. Expansion of franchise stores, investments, fundings, and new product launches are the key strategies of the bubble tea market players. Market to Boom As Consumers Seek Versatile Teas with Innovative Bold Flavors. It should be no surprise then that sugar is a primary ingredient in the drink. Bubble tea fad makes comeback. A global addiction. Retrieved from NewspaperSG.7. Retrieved from NewspaperSG.15. Modern Asian Desserts expanded its business in the country by introducing various boba milk tea outlets. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and such similar drinks, owing to the ever-growing demand from youth. Both the Jiajia Milk Tea and Jiajia Boba have a refreshing combination of rich . Tea - Singapore | Statista Market Forecast You need at least a Starter Account to use this feature. The bubble originally referred to the froth created by shaking the drink, though now it is also understood as referring to the pearls that are added. The availability of different types of milk tea offers numerous options for consumers to enjoy. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. Over of the bubble tea enjoyed around the world is fruit-flavored. Ho, S. B. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Retrieved from NewspaperSG.4. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. under and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. Available: https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, Number of bubble tea outlets in Singapore in 2019, by brand, Available to download in PNG, PDF, XLS format, Leading black tea exporters worldwide 2021, Area harvested for tea in India 2010-2020, Production of tea in north India FY 2014-2022, Production volume of tea in south India FY 2014-2022, Production of tea in India FY 2021, by category, Tea production volume in India FY 2022, by grower size, Export value of tea and coffee from India FY 2011-2022, Indian tea exports value FY 2022, by destination country, Indian tea exports volume FY 2022, by destination country, Import value of tea in India FY 2014-2022, Import volume of tea into India FY 2014-2022, Wholesale Price Index of tea in India FY 2012-2022, Average price of tea in India FY 2022, by category, Retail price of tea India 2021, by major city, Consumption volume of tea in India FY 2015-2022, Total revenue of Hindustan Unilever 2013-2022, Tata Consumer Products' total revenue FY 2015-2022, Total revenue of McLeod Russel FY 2013-2022, Total revenue of Goodricke Group Ltd FY 2013-2022, Italy: ready-to-drink tea sales value 2016-2017, Ready to drink blended tea production volume in Japan 2013-2021, Tea market: value growth in the United Kingdom (UK) 2014, by category, Share of past-day tea consumers in Canada 2009-2020, Preferred time for bubble milk tea on weekdays in Vietnam 2019, by age group, Frequency of purchasing hot beverages for home consumption in France 2017, by type, Preferred time for bubble milk tea on weekends in Vietnam 2019, by age group, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, Tea sales value in the United Kingdom (UK) 2010-2014, Leading factors influencing bubble tea purchase Singapore 2020, Brazil: ready-to-drink tea production volume 2018-2021, Brazil: per capita consumption of ready-to-drink tea 2018-2021, Cost of one cup of bubble tea Singapore 2018, by major brand, Market share of tea and coffee drinks by distribution channel in Spain 2019, Tapioca and substitutes import volume to Japan 2016-2021, Find your information in our database containing over 20,000 reports. Bubble Tea Popularity Statistics Singapore - Emkan.me It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. In a survey of Singaporean bubble tea consumers in 2020, 69 percent of respondents stated that taste was their main consideration when purchasing bubble tea, while 61 percent stated price. "Number of Bubble Tea Outlets in Singapore in 2019, by Brand. Bubble tea originates from Taichung, Taiwan. The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport 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. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Recent Statistics Popular Statistics Facebook: quarterly number of . While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Junction. As a Premium user you get access to the detailed source references and background information about this statistic. IN FOCUS: Singapore's love affair with bubble tea - CNA As a Premium user you get access to background information and details about the release of this statistic. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. 16 Bubble Tea Statistics to Calm Your Cravings - Soocial Consumer Shift toward Healthy Alternatives to Favor Growth. (Photo: iStock). Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. There are six official types of bubble tea. A. Survey: Millennials, Gen Z Big Fans of Bubble Tea However, the study found that despite the high margins, few bubble tea stores are profitable. For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) compared to 2018. to incorporate the statistic into your presentation at any time. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! 11. Moreover, countries such as Japan, China, the U.S., and Canada are the major consumers of pearl milk tea and have also experienced a slight dip in their growth due to hindrances in production as well as supply chains during the year 2020-21. This beverage has undergone a few waves of popularity in Singapore. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. As a Premium user you get access to background information and details about the release of this statistic. In the next five years, the bubble tea industry is expected to grow by nearly 54%. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Keep reading to check them out! The Tea segment in Singapore is projected to grow by 2.16% (2023-2025) resulting in a market volume of US$807.70m in 2025. . The bubble tea trend has continued to soar in its originating region, later gaining traction in other western countries, such as Canada and the U.K. Storm in a bubble-tea cup. The Straits Times, p. 73. Moreover, the emergence of do-it-yourself kits and classes allowed people to make their own bubble tea.10 As with other food fads, the novelty of the drink quickly wore off. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. Young people between ages 20 and 29 are interested in bubble tea. Exactly how popular is bubble tea in Singapore? Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. The bubble tea industry was valued at $2.2 billion in 2019. Keep reading to discover everything weve uncovered about bubble tea. And if you have a sweet tooth, its SO GOOD. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. Book your free consultation and let our research experts help you with your needs/problems. In addition, recently many Chinese brands have entered the region, it added. For instance, in April 2022, U.S.-based start-up Bubluv Inc. launched tapioca starch and konjac-based boba tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. Retrieved from http://chunshuitang.com.tw/3. Copyright Mediacorp 2023. Show publisher information These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. 16. Prices are higher than previously, reaching as much as S$6 per cup as compared to S$3 in the past.12 Nevertheless, bubble tea shops have attempted to sustain the popularity of the drink by continually developing new and unusual flavours, as well as engaging with customers through social media.Health concernsIn May 2011, it was found that two fruit juice brands from Taiwan used by some bubble tea outlets contained plasticisers that were harmful to health. Bubble tea was introduced to Singapore in 1992. . "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. A file photo showing cups of bubble tea. It cited Nayuki, the first new tea brand to go public, whose market cap plunged by more than 70 per cent since it listed on the Hong Kong stock exchange. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. However, it was only in 2001 that bubble tea became phenomenally popular. There has been speculation linking tapioca balls to cancer, though most claims have been refuted following extended research. Singapore: bubble tea consideration factors 2020 | Statista Tapioca balls or pearls are often added to the concoction as well. 3. The pandemic served as a natural selection process as many stores shut down. Business Solutions including all features. 2023 Allied Market Research. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore Bubble tea | Infopedia - National Library Board With 250 different flavors, it makes sense that there would be different bases to the teas. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. How Much Is the Bubble Tea Industry Worth. Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. Currently, the major bubble tea chains are Koi and Gong Cha. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. Whats your favorite bubble tea base to start with? Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. 7. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Request a Free sample to learn more about this report. Global Opportunity Analysis and Industry Forecast, 20202027. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. Please create an employee account to be able to mark statistics as favorites. 87% of American millennials drink tea, including bubble tea. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. AVA suspends two more Taiwanese juice brands. To continue, upgrade to a supported browser or, for the finest experience, download the mobile app. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. In, Nielsen. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. . The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. Then you can access your favorite statistics via the star in the header. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. Bubble Tea Market Demand to Surge with Rising Popularity of The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. (AFP Photo). 8. The current valuation of the market is US$ 2.50 billion in 2022. The bubble tea market in China is estimated to have an annual turnover of US$20 billion, saturating and hyper competitive.. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. According to the study, there are three underlying fundamentals to building a successful bubble tea business. In 2018, there were over 450,000 shops selling bubble tea in China. 4. Customers also have the option of adjusting the drinks sugar level. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. At what CAGR is the bubble tea market projected to grow in the forecast period (2023-2030)? Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. If you are an admin, please authenticate by logging in again. To get the sample of bubble tea market report, click on the link (Please paste the link here). As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. The ideal entry-level account for individual users. As a result, bubble tea had lost its popularity by 2003 and many shops folded.ResurgenceNevertheless, bubble tea did not completely disappeared from Singapores food scene. You can only download this statistic as a Premium user. As a Premium user you get access to the detailed source references and background information about this statistic. Profit from the additional features of your individual account. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Please contact the Library for further reading materials on the topic. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. Save my name and email in this browser for the next time I comment. Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. Of the 30 countries that enjoy bubble tea, most are in Asia. What are the key factors driving the market? Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. Durai, J., & Poon, C. H. (2011, June 4). The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fuel market growth. (February 11, 2020). According to research firm Allied Market Research, the global bubble tea market will jump from US$1.96 billion in 2016 to reach US$3.21 billion by 2023. Retrieved from NewspaperSG.14. Though there are high margins, bubble tea is a low-differentiation game with easily replicable products and a challenging supply chain, he said. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. In 1987, a staff member had the idea of adding fen yuan (sweetened tapioca pudding) to her tea, resulting in the creation of the bubble tea pearl.2Introduction in SingaporeBubble tea was introduced to Singapore in 1992. Heritage and Culture. Jointly conducted by venture outfit Momentum Works and digital payments solution firm qlub, the report also found thatthe average price of bubble tea in Singapore is double that of other countries in the region. There is also a wide selection of items that can be added to the tea; for instance, pearls, pudding and jelly. DBS Group Research. On Deliveroo, bubble tea is the most popular item in its beverage category, with users ordering 385,000 cups in 2018. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. The added sugar in the cooking process can ramp up the balls to an estimate of 160 calories per quarter-cup serving. Are you interested in testing our business solutions? Such challenges cumulatively hamper the growth potential of the global market. Fortune Business Insights says that the global market size was USD 2.29 billion in 2022 and is projected to reach USD 4.08 billion by 2030. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. This statistic is not included in your account. Access to this and all other statistics on 80,000 topics from, Show sources information By continuing to visit this site you agree to our use of cookies . Bubble tea truly is an international drink! The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. The Straits Times, p. 73. Among various flavors, the fruit flavor is more popular, and this segment dominated the market in 2019. If you are an admin, please authenticate by logging in again. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Last week, it was announced that Singapore will soon require food and beverage outlets to include nutrition labels on their menus to indicate drinks that contain higher levels of sugar and saturated fat. A wide variety of teas, including black, green, oolong and earl grey tea are sold. Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. The bubbles are made from tapioca and have high carbohydrate content. This includes building a decent flagship product to get initial traction, achieving single-store profitability and scaling the model while maintaining the positive unit economics. 1. What may surprise you though is the amount of sugar! I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . 12. Get detailed COVID-19 impact analysis on the Bubble Tea Market. Which region held the highest share in the global market? The Straits Times, p. 4. The report was very accurate and as per my requirements. In some instances, a hot version of the tea is also available. It is not intended to be an exhaustive or complete history of the subject. For those looking to cut back on sugar, bubble tea may not be the best choice. 10. Southeast Asia's bubble tea craze | The ASEAN Post The Straits Times, pp. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. ", Latin America: yerba mate per capita consumption 2018, by country, Argentina: yerba mate export volume 2019, by destination, Argentina: yerba mate production 2010-2019, Latin America: yerba mate planted area 2020, by country. In April 2020, Bubble Tea Supply Inc. launched its first bubble tea with a range of flavors including traditional milk, green apple, mango, lychee, and honeydew accompanied with over 14 toppings. As a result, bubble tea lost its popularity by 2003 and many shops folded. The market research report includes quantitative and qualitative insights into the market. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Sweeter than soda? Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since.
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