The manufacturers or entrepreneurs in the boba tea industry are venturing upon the launch of their own restaurants/cafes to attract consumers and fortify their market presence. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Let's assume that the daily maintenance calories for an average adult man are 2,500 kcal, and for an average adult . The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. Bakery Products Market Share: The global bakery products market is estimated to reach US$ 235 Mn in 2022. There are six official types of bubble tea. Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global bubble tea market size is expected to reach USD 3.39 billion by 2027 . In 2018, bubble tea made a 3,000 . This segment does not include herbal tea, instant tea, iced tea or similar tea-derived Ready-to-Drink beverages. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. Find your information in our database containing over 20,000 reports, Consumer Market Aug 16, 2022, 1:25 PM SGT. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite! 12. Bubble tea is also known as pearl milk tea. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. . +44 208 097 3636. The segment is expected to display an 11.4% CAGR, and account for more than 38% of the global market share. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The bubble tea industry was valued at $2.2 billion in 2019. +44 208 097 3636. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. USD 1,195. Bubble tea first appeared in Thailand ten years ago, but since has gone out of market trend, staged a strong comeback, and established itself in the region. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! Bubble tea consumption statistics show that Thais drink six bubble teas per month. In relation to total population figures, per person revenues of US$53.14 are generated in 2023. 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 other similar new drinks, owing to the ever-growing demand from youth. Get in touch with us. Beware the Bubble Tea: Examining the Dangers of Bubble Tea Consumption The out-of-home market, also called on-trade market, away-from-home market or HORECA encompasses all sales to hotels, restaurants, catering, cafs, bars and similar hospitality service establishments. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights!