When we say that bubble tea is insanely popular, were not joking. 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. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. (AFP Photo). Which is the leading segment based on the product type in the market? An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. 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. We use cookies to enhance your experience. Singapore: bubble tea consideration factors 2020 | Statista Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. 7. This statistic is not included in your account. Perhaps bubble tea brands should work towards designing more nutritious versions of their drinks without losing the signature taste and appeal which has made the drink so popular in Southeast Asia. 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. According to the study, there are three underlying fundamentals to building a successful bubble tea business. To use individual functions (e.g., mark statistics as favourites, set Who are the leading players in the global market? Stay abreast of your interest areas. (1993, September 24). Bubbling over. This beverage has undergone a few waves of popularity in Singapore. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. I believe its because of the level of sugar [in the drink], she said. SINGAPORE: Bubble tea lovers in Southeast Asia spend US$3.66 billion a year on the beverage and similar new tea drinks, with Singapore having the highest spending power despite its smallest population among the region's six key markets. A file photo showing cups of bubble tea. Its not difficult to observe and learn their play and strategy, but whats more important is to ensure positive unit economics and good return on investment., Be among the first to know the Breaking news. 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. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. An average, medium-sized serving of bubble tea has, on average, 335 calories. The Straits Times, p. 8. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. However, it added that the supply chain for bubble tea stores can be more challenging than e-commerce due to the high demand for the freshness of raw materials. (Photo: iStock). 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. There are many varieties of the drink with a wide range of ingredients. Pandemic disrupted the entire world and affected many industries. It is not intended to be an exhaustive or complete history of the subject. In 1987, a staff member had the idea of adding fen yuan (sweetened tapioca pudding) to her tea, resulting in the creation of the bubble tea pearl.2Introduction in SingaporeBubble tea was introduced to Singapore in 1992. A. The rise of bubble tea, one of Taiwan's most beloved beverages Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Of the 30 countries that enjoy bubble tea, most are in Asia. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. Request a Free sample to learn more about this report. The Straits Times, p. 30. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. There is also a wide selection of items that can be added to the tea; for instance, pearls, pudding and jelly. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Required fields are marked *. 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. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Ho, M., & Boey, D. (2001, June 29). The Straits Times, p. 78. According to Grabs data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. Get full access to all features within our Business Solutions. Access to this and all other statistics on 80,000 topics from, Show sources information For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. 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! Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. 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. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! (1993, September 24). 11. This service is not intended for persons residing in the E.U. A paid subscription is required for full access. to incorporate the statistic into your presentation at any time. Moreover, the emergence of do-it-yourself kits and classes allowed people to make their own bubble tea.10 As with other food fads, the novelty of the drink quickly wore off. Tapioca balls or "pearls" are often added to the concoction as well. "Yet, few players have managed continuous profitability at a large scale." It cited. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. Moreover, apart from teas for sale, there are plenty of fruit juices and sometimes coffee options on the menu of bubble tea shops. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Bubble tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit flavored, black tea-based milk tea, and green jasmine, across the globe. The manufacturers or entrepreneurs in the boba tea industry are venturing into the launch of their own restaurants/cafes to attract consumers and fortify their market presence. The bubble tea trend has continued to soar in its originating region, later gaining traction in other western countries, such as Canada and the U.K. Bubble Tea Market Size, Share, Growth | Industry Trends [2030] 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. You only have access to basic statistics. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . 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. This includes bubble tea outlets. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no and low-alcohol beverages, which has further contributed to the market growth. By continuing to visit this site you agree to our use of cookies . Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. The Asia Pacific market held the largest share and was valued at USD 0.96 billion in 2022. The Straits Times, p. 15. To use individual functions (e.g., mark statistics as favourites, set 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. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. Customers also have the option of adjusting the drinks sugar level. Copyright Mediacorp 2023. These drinks are mixed only after an order has been made and are then machine-sealed in a clear plastic cup.1OriginBubble tea originates from Taichung, Taiwan. Statista. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Heritage and Culture. Durai, J., & Poon, C. H. (2011, June 4). This includes building a decent flagship product to get initial traction, achieving single-store profitability and scaling the model while maintaining the positive unit economics. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. A. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. Retrieved from NewspaperSG.15. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. When you look at the marketing for bubble tea, the numbers make sense. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. 5. In 1987, a staff member had the idea of adding. It is already known that sugary drinks contribute to weight gain, obesity and other diseases such as diabetes, heart disease, stroke and cancer. The global bubble teamarket holds a substantial scope for growthduring the forecast period. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019. "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. 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. October 22, 2019. Register in seconds and access exclusive features. For those looking to cut back on sugar, bubble tea may not be the best choice. All Rights Reserved. Bubble tea truly is an international drink! 14. Singapore: bubble tea outlets by brand 2019 | Statista Hawker centres too began to sell bubble tea, with some small start-ups even operating from shops selling items such as cakes and shoes. As soon as this statistic is updated, you will immediately be notified via e-mail. A. Lek, E. (2007, August 20). hief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. 15. Thanks for sticking with me in this huge post. Get insights on topics that are crucial for your business. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. 8. In Singapore, there has been renewed hype in bubble tea in the past year, spurred by the entrance of well-known global franchises, and local entrepreneurs stepping up to give those brands a run for their money. Expansion of franchise stores, investments, fundings, and new product launches are the key strategies of the bubble tea market players. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. As a Premium user you get access to the detailed source references and background information about this statistic. I have feedback on this infopedia article: Bubble tea. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. The price for bubble tea depends on where you get it. Please contact the Library for further reading materials on the topic. Bubble Tea Market Demand to Surge with Rising Popularity of Get detailed COVID-19 impact analysis on the Bubble Tea Market. 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. Save my name and email in this browser for the next time I comment. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. 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. The growing bubble tea market has also made brands focus on unique concepts in terms of toppings and flavour combinations to pique consumer interest and to stand out from the crowd. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. The black tea segment is expected to be the leading segment in the global market. 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. Tapioca balls or pearls are often added to the concoction as well. Which of the following factors are important to you for this most recent trip? ", Nielsen, Important factors when considering a bubble tea purchase in Singapore in 2020 Statista, https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/ (last visited May 01, 2023), Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph], Nielsen, February 11, 2020. Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and bubble teas. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. 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. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. There are 250 different flavors of bubble tea. You need at least a Starter Account to use this feature. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. Retrieved from NewspaperSG.12. (October 22, 2019). Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. All rights reserved. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. 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. 9. The bubble originally referred to the froth created by shaking the drink, though now it is also understood as referring to the pearls that are added. 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 Straits Times, p. 10. In, Nielsen. Health experts highly recommend drinking bubble tea in moderation, and if possible, to opt for the less sweet or low-calorie varieties. Moreover, increase in disposable income and economic growth in advanced & emerging economies support the market growth. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. Profit from the additional features of your individual account. Ho, S. B. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. 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. Bubble tea is a popular drink among Singaporeans, and consists of a sweet flavored tea base and tapioca pearls, or "bubbles". The data offered to us was exactly what we were looking for. In, DBS Group Research. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. While consumers in Singapore are more health conscious, its not the same across other markets, it added. 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. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. 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. 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. Learn more about how Statista can support your business. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages.
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