You need a Statista Account for unlimited access. 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. 15. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. According to Dr Tan Wee Yong, a consultant physician in Malaysia, it is recommended for a normal healthy adult to take no more than eight teaspoons of sugar a day, while a childs daily sugar intake should not be more than five teaspoons. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. Are you interested in testing our business solutions? We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be. Teens use tea house notice board to talk to each other. Bubble tea was introduced to Singapore in 1992. . 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. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. Customers also have the option of adjusting the drinks sugar level. Bubbling over. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. Taiwanese and homegrown brands have long dominated the Southeast Asian bubble tea market, the study found. To use individual functions (e.g., mark statistics as favourites, set The increase in bubble tea shops led to intense competition and price wars. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. Currently, you are using a shared account. The bubble tea industry was valued at $2.2 billion in 2019. Bubble tea also contains high sugar content, according to a study conducted by students at the Applied Food Science and Nutrition diploma course at the Temasek Polytechnic in Singapore. On Deliveroo, bubble tea is the most popular item in its beverage category, with users ordering 385,000 cups in 2018. As a result, bubble tea lost its popularity by 2003 and many shops folded. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. 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Bubble Tea Popularity Statistics Singapore - Emkan.me Among various flavors, the fruit flavor is more popular, and this segment dominated the market in 2019. Tapioca balls or "pearls" are often added to the concoction as well. The boba (bubble) alone is 150 calories. The high carbohydrate content of the bubbles can lead to an unhealthy diet. Which region held the highest share in the global market? It looks quite comprehensive and the data is exactly what I was looking for. Bubble tea is a popular drink among Singaporeans, and consists of a sweet flavored tea base and tapioca pearls, or "bubbles". Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Brands, such as Koi The Co, Moge Tee, and M.A.D. The challenge, as usual, lies in execution and the ability to build (and of course, maintain) a defensive moat along the way.. The global Bubble Tea Market is expected to $4,368.6 million in 2027. A. Of the 30 countries that enjoy bubble tea, most are in Asia. Such challenges cumulatively hamper the growth potential of the global market. 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. The emergence of Chinese players who are good at branding, product/supply chain and cost management could pose an increasing challenge to existing local players. Countries such as Vietnam and Taiwan are projected to have the largest sales. Stay abreast of your interest areas. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Arlina Arshad. 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. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. 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, Troika JC. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken.
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. Retrieved from http://chunshuitang.com.tw/3. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. 9. Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. The report was very accurate and as per my requirements. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. Here is the history of bubble tea in Singapore. 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. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. The black tea segment is expected to be the leading segment in the global market. 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. The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Please create an employee account to be able to mark statistics as favorites. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. When you look at the marketing for bubble tea, the numbers make sense. The consumption of bubble tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. While consumers in Singapore are more health conscious, its not the same across other markets, it added.
COVID-19: Bubble tea shops, other less critical F&B businesses to close The Best Bubble Tea Brands In Singapore Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. 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. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. Number of bubble tea outlets in Singapore in 2019, by. In addition, recently many Chinese brands have entered the region, it added. A global addiction. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. T&C*. DBS Group Research. 3. Remarkable job and great efforts by your research team. Show publisher information In addition, the companies are focusing on the growing incidences of lactose intolerance, and thus are working toward introducing lactose-free bubble milk tea options for individuals. Aqilah still drinks the occasional bubble tea. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. It comes with the additional cost of $2500.00 contact sales. Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country.
Bubble Tea Market Demand to Surge with Rising Popularity of Bubble tea originates from Taichung, Taiwan. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. This beverage has undergone a few waves of popularity in Singapore.DescriptionBubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the concoction. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls from Taiwan, hinders the production process and impacts their overall operations. Market to Boom As Consumers Seek Versatile Teas with Innovative Bold Flavors. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. The report provides a quantitative analysis of the current bubble tea market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities. Who are the leading players in the global market? The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. You need a Statista Account for unlimited access. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. According to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. Art & Craft.
Far from game over: From boom to bust to boom again, bubble tea is back Tapioca balls or pearls are often added to the concoction as well. As a Premium user you get access to background information and details about the release of this statistic. (1993, September 24). Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. Looking forward to work together in the future, It has been a delightful experience working with you guys. We dont recommend anyone making it a daily indulgence. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Though there are high margins, bubble tea is a low-differentiation game with easily replicable products and a challenging supply chain, he said. 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. . Virtually any flavor that you can imagine exists with bubble tea. Sometimes they are blended with ice to give them a more slushy-like consistency. Upgraded but still having issues? Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Teens use tea house notice board to talk to each other, AVA suspends two more Taiwanese juice brands, Unapproved additive found in 11 food products, Pearls dropped by some bubble tea shops. 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. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The Best Bubble Tea Brands In Singapore Photo by: Kenneth Goh The best bubble tea in Singapore Southeast Asia spent more than $5 billion on BBT last year Written by Kylie Wong & Pailin. 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. Thank you for contacting us, our sales representative will get in touch with you shortly! 8. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. Momentum Works founder and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. That number increases when you go up in size to 469 calories and only gets worse as you add in more toppings or extra flavors. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! Learn more about how Statista can support your business. As soon as this statistic is updated, you will immediately be notified via e-mail. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Which of the following factors are important to you for this most recent trip? (2002, January 13). Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. Required fields are marked *. 5. As soon as this statistic is updated, you will immediately be notified via e-mail. A. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, the high popularity of tea-based fruity beverages, and high consumer preference. These pearls, that looks like dark bubbles, give the tea its name. (October 22, 2019). In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. #1 HEYTEA Golden Osmanthus Oolong ($7.50) Photo from HEYTEA. Sweeter than soda? Save my name and email in this browser for the next time I comment. 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. Aqilah, a consumer in Malaysia, used to buy bubble tea at least twice a week. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign.
15 Bubble Tea Stores That Are Leading the Industry Right Now | World Retrieved from NewspaperSG.5. It should be no surprise then that sugar is a primary ingredient in the drink. Need to talk to an expert? However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. What is the major restraint for the global market? Were guessing you already know what bubble tea is. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships).