Portland, ore.And Jan 21 2022 /PRNewswire/- Allied Market Research published a report titled “Bubble tea market By base ingredient (black tea, green tea, oolong tea, and white tea), flavor (original flavor, coffee flavor, fruit flavor, chocolate flavor, and others), and ingredient (flavor, whitener, sweetener, liquid, tapioca pearls, and others) : Global Opportunity Analysis and Industry Outlook, 2020-2027″. According to the report, the global Bubble Tea industry has generated $2.4 billion In 2019, it is expected to breed $4.3 billion By 2027, it will experience a compound annual growth rate of 7.8% from 2020 to 2027.
basic determinants of growth
Increasing health awareness, rush in adoption of healthy drinks including green tea, oolong tea, black tea, and white tea among consumers, and flavored bubble tea consumption among the younger generation is driving the growth of global bubble tea market. However, the over-inclusion of sugar content in beverages causing health problems and the trend of coffee consumption hampering market growth. On the other hand, the emergence of new flavors and blends along with the increased demand among young people for different types of tea provides new opportunities in the coming years.
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- The outbreak of the COVID-19 epidemic had a slight negative impact on the growth of the global bubble tea market.
- The pandemic has affected the production, revenue and supply chain of the bubble tea industry.
- Lockdown restrictions, bans on import and export activities, and interruptions in supply chain activities have created many challenges.
Slice black tea to maintain its leading position throughout the forecast period
Based on the primary component, the black tea segment captured the largest market share in 2020, accounting for more than two-fifths of the global bubble tea market, and is estimated to maintain its leadership position throughout the forecast period. This is attributed to increased awareness and health benefits including prevention of chronic diseases such as obesity, diabetes, cardiovascular disease and cancer. However, the green tea sector is estimated to maintain the highest compound annual growth rate of 8.2% from 2020 to 2027, due to the increasing number of fitness-conscious consumers worldwide.
Fruit flavor sector that will prevail during the forecast period
Based on flavor, the fruit flavor segment accounted for more than three-fifths of the global bubble tea market in 2020, and its dominance is expected to continue during the forecast period. This is due to the increasing number of vegetarians and health conscious consumers worldwide. However, the chocolate flavor segment will grow at the fastest compound annual growth rate of 8.4% from 2020 to 2027, due to its potential to deliver combined health benefits of both chocolate and bubble tea.
North America To maintain its dominant position by 2027
Based on the region, North America accounted for more than half of the global bubble tea market in 2020, and it is estimated that it will maintain its dominant position by 2027. This is due to the rising number of tea and coffee consumers in the region. However, Europe is estimated to maintain the highest compound annual growth rate of 8.7% from 2020 to 2027, due to increased tourism activities, health awareness among young people, and the emergence of bubble tea in the region.
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Leading market players
- Bobabox Limited
- Babylon Tea House Company
- Focus company
- jung cha
- lolicope United States of America, Inc.
- Sumo (M) SdnBhd
- Tin Rin Tea Time
- Babylon Tea Company
- Troika JC.
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