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(HomeGarden247.com, March 30, 2020 ) Market Overview
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• The Global Bubble tea Market is expected to grow at a CAGR of 8.1% during the forecasting period (2019-2026).
• Bubble tea is a Taiwanese recipe made by blending a tea base with milk, fruit and fruit juices, then adding the signature “bubbles” - tapioca pearls that sit at the bottom. These fruit or tea infusions can be served either piping hot or iced cold, making a ever-so-quirky drink and snack. Bubble tea is usually served in transparent cups with a fat straw so that - as you sip - the tapioca balls (also known as “pearls” or “boba”) come shooting up it and can be chewed as you swallow down the liquid. It’s called bubble tea both because of the tapioca balls, and the floating “bubbles” created by the vigorous shaking involved in its blending.
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• The global Bubble Tea Market is primarily driven by health benefits that are associated with the bubble tea. The bubble tea with the base ingredients as green tea and black tea have various health benefits associated as reduced risk of cardiovascular disease, diabetes, arthritis and even cancer. This is due to the presence of polyphenols which have anti-inflammatory and antioxidant properties. Moreover, tea production rise in countries like China, India and others because of the increase in demand by the people as base ingredient in bubble tea.
• With the increasing flavors options and innovative launches in the bubble tea is also driving the market for the forecast period. A few of the most common flavors preferred by users in bubble tea comprises of chocolate, passion fruit, honeydew, taro, plum, lychee, strawberry, ginger, coffee, peach, and mango.
• For instance, in Japan, sushi shop chain Sushiro has collaborated with popular Taiwanese bubble tea chain Sharetea to create a boba milk tea that comes with glowing pearls, served up on Sushiro’s conveyor belts. This new beverage is called “Hikaru golden bubble tea”, and was launched on July 19, 2019.
• However, due to use of Addition artificial preservatives & color and excess sugar in the bubble tea which is making it unhealthy. Hence, hampering the growth of Bubble Tea.
Market Segment Analysis
• By Base Ingredient type, the global Bubble Tea Market is segmented into Black Tea, Green Tea and others. Black Tea has the dominant position in the Bubble Tea and is expected to retain its dominance in the forecasted period. However, due to high health benefits and less calories the market for green tea is going to increase with rapid rate in the forecast period. It is expected that Black Tea product will grow at a CAGR of ~XX% during the forecast period.
• By geography, the global Bubble Tea Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
• Asia-Pacific (APAC) holds the largest market share for Bubble Tea. Due to the population growth and the affordable drink with high health benefits is driving the market in the region. However, Europe is after APAC in terms of market share of Bubble Tea, increasing demand for healthy drinks because of awareness among people for the healthy food and drink.
• Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Bubble Tea is a competitive market with the presence of various global and regional players in the market. The major players include Bubble Tea House Company, Bobabox Limited, Cuppotee, and Fokus Inc. Other key players in the market include Gong Cha, Lollicup USA Inc., Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, Troika JC.
• In February 2019, Boba Box Limited introduces 14 new flavours in European market. And are confident enough to attract wide audience for the bubble tea market.
• In July 2019, Secret Recipe Brand introduces New Boba Series. There will be a total of (8) different flavours in the Boba series which are: Boba Milk Tea, Boba Caramel Milk Tea, Boba Brown Sugar Milk Tea, Boba Brown Sugar with Milk, Boba Cham, Boba Kopi-C, Boba Midnight Blue and also Boba Signature Fruit Tea.
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