Italy's economy contracted by 0.1 per centquarter-on-quarter in the final three months (Q4) of last year, thecountry's National Institute of Statistics (ISTAT) said.On a year-on-year basis, gross domestic product (GDP) in the quarterincreased by 1.4 per cent, against the originally estimated 1.7 percent, reports Xinhua news agency citing ISTAT . Coffee shop. 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 fueling the market growth. Book your free consultation and let our research experts help you with your needs/problems. Request Now ! In 2019, tea revenue globally is about US$214,761m and is expected to grow each year by 6.9% until 2023. There are many teas, they can vary in . info@pearllemongroup.com. Just over half (52%) of all free sugars consumed were from beverages, led by soft drinks, sports and energy drinks (19%), fruit juice and fruit drinks (13%), with the sugar added to beverages such as tea and coffee contributing 7.3% and . When you look at the marketing for bubble tea, the numbers make sense. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-12310, Explore FMIs Extensive Coverage on Food and Beverage Domain. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. It should be no surprise then that sugar is a primary ingredient in the drink. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. Essential Facts. Increased demand for bubble tea has been fuelled by pearl milk tea, which is becoming increasingly popular as one of the healthier alternatives to carbonated beverages. Changes in consumers tastes and preferences have fostered growth for the bubble tea market over the forecast period. Bubble tea is known for its sweet taste. Future Market Insights Global and Consulting Pvt. The valuation of the out-of-home segment at retail prices means a significant change of the market definition in comparison to earlier iterations of the Consumer Market Outlook, as out-of-home consumption was valued at wholesale prices before. Save my name and email in this browser for the next time I comment. Tea is the second most popular drink in the world, with water at first place. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. 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 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Statista. A. 2023 Allied Market Research. 04 For a short time in 2012, all 800 branches of McDonalds in Germany sold bubble tea. Due to social media, bloggers documenting their bubble tea experience, and other factors, bubble tea stores continue to flourish and expand their offerings in this region. Art & Craft. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. That means 24 countries have higher consumption rates that are worth targeting. The data offered to us was exactly what we were looking for. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. In the Philippines alone, orders increased by 3,500 percent from June to December 2018. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. Rinse, drain, and refrigerate until chilled. Thailand leads in . Thailand will emerge as a lucrative market over the forecast period with a CAGR of 8.7%. 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. The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. These organizations are focusing on product innovation and targeting the millennial consumer as the group is known for its willingness to experiment with new flavors. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. About | Privacy Policy |Contact | Advertise | Support. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. US Coffee Statistics. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea such as Chatime Pearl Milk Tea and Grass Jelly Roasted Milk Tea for lactose intolerant consumers. As per the report, sales will increase at a 4.2% CAGR over the forecast period, reaching US$ 354.6 Mn by 2032. Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. Were guessing you already know what bubble tea is. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. Among participants, 647 (88%) consumed less . Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Meanwhile, Philippinos drink five cups of this tea per month. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. 10. What may surprise you though is the amount of sugar! Drum To Hopper Blends Premix Market Forecast: The global drum to hopper blends Premix market is expected to reach a valuation of US$ 752.1 Mn in 2022, with demand increasing at a CAGR of 7.4% over the assessment period. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. 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. This growth is fueled by the perceived health benefits of green tea. As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. Nigeria, specifically, has become a hub for cassava production. 02 Each tapioca ball has 5 to 14 calories. drinking tea; and the expansion of new products and flavourings, such as ready-to-drink tea, premium tea, and herbal and fruit fusions.15-19 In addition, demand for green tea is expected to outpace demand for black tea.4,12,19 The considerable expansion of sustainable tea products is also worth noting. A. Asia Pacific Bubble Tea Market Size, 2021 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. Ready to drink tea products have seen a 15x increase in sales and consumption since 2004. 12. Rank Country/Region Tea consumption 1 Turkey: 3.16 kg (6.96 lb) . Who are the leading players in the market? Modern Asian Desserts, expanded its business in the country by introducing various boba milk tea outlets. Address Shop 14, 375 William Street, Northbridge, Western Australia, WA, Australia 6003 Phone Number 0434039801 Categories Bubble Tea Shop, Tea Room 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. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. For instance, in April 2022, U.S. based start-up namely Bubluv Inc. launched tapioca starch and konjac based bubble tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. 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. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. (2.Americans rank 25th for coffee consumption per capita, with an average consumption of 4.2 kg per person per year. A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. Tapioca balls or "pearls" are often added to the concoction as well. This is a very good piece of work and will be very helpful to us going forward. India is currently 1-0 up in the series, which has seen Indian spinners dominating both the tests in Nagpur and Delhi. The market was expected to reach a valuation of US$ 2.3 Bn by the end of 2021. Malaysia Coffee & Tea Reports: Our 2023 Malaysia report include trends, statistics, opportunities, sales data, market share, segmentation projections on the Coffee & Tea market. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. The black tea segment is expected to be the leading segment in the global market. Asia Pacific is expected to dominate the market during the forecast period. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. Consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Between 2021 and 2028, the global tea market is expected to grow at a CAGR of 6.6%. The global bubble tea market size was valued at USD 2.17 billion in 2021. Your email address will not be published. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. By 2025, 70% of spending and 10% of volume consumption in the Tea . But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. The closure of Shanghai . The forecast period in the global bubble tea market report is 2019-2027. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. Ltd. NEWARK, Del, July 26, 2022 (GLOBE NEWSWIRE) -- The global bubble tea market is projected to reach a value of US$ 5.5 Bn by 2031, with sales growing at a robust CAGR of 8.8% for the forecast period of 2021-2031. In 2018, there were over 450,000 shops selling bubble tea in China. The bubble tea market in Singapore has a long history and is expected to exhibit a prosperous future with a CAGR of 10.7% over the forecast period. 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. The chocolate segment is projected to have the fastest growth in the coming years due to increasing demand for chocolate-based drinks from every age group. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. Your email address will not be published. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. Europe is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the demand for healthy hot beverages in the region. Sometimes they are blended with ice to give them a more slushy-like consistency. 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. Based on our analysis, the global market exhibited a slower growth of 2.76% in 2020 as compared to 2019. One kilogram therefore represents 500 cup equivalents. It looks like the bubble tea craze isn't going anywhere soonat least, according to GrabFood data that states bubble tea orders in Southeast Asia saw a 3,000 percent growth rate in 2018. Tea is considered the second most popular drink of choice worldwide. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. The market is expected to grow annually by 2.61% (CAGR 2023-2025). The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. Over 95% of females in the united states have tried bubble tea, while 81% of males . Furthermore, a decline in the growth of bubble tea consumption is witnessed due to strong restrictions on import and export facilities. Most other Southeastern Asian countries drink three cups monthly on average. Ltd. Bubble tea consumption statistics show that Thais drink six bubble teas per month. It comes with the additional cost of $2500.00 contact sales. 4364..55.011 - Australian Health Survey: Consumption of added sugars, 2011-12. The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. [1] 84% of the tea that is consumed is black tea. An average, medium-sized serving of bubble tea has, on average, 335 calories. Background: Bubble tea, also known as boba or boba milk tea, has exploded in popularity in recent years, with the global boba market projected to reach 3.39 billion USD by the end of 2027. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. | Source: Australia . According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. Boost your students confidence by putting their results next to the public's The market is projected to grow from USD 2.29 billion in 2022 to USD 3.78 billion by 2029, exhibiting a CAGR of 7.40% during the forecast period. 13. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. 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. Market size and forecast, by Flavor, 2020-2028 There are 250 different flavors of bubble tea. In fact, tea was aboard the First Fleet in 1788. Get a Sample Copy of the Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-12310. One concession owner became popular with her . 10. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. Green tea. Graph. Bubble tea brands expected to produce novel and unique products over the forecast period. 9. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. There are six official types of bubble tea. 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. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . We use cookies to enhance your experience. The bubble tea market in Thailand is predicted to register an 8.7% CAGR. 1. Versatility in flavor, health benefits, and social media trends drive the market. In theory, the bubble tea pearls could stick together and form rather difficult to pass blobs, especially when other ingredients are making them thicker and sturdier. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. This means, market totals are not comparable to published data from prior years. 2. 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