Global Bubble Tea Market Expected to Reach 3.2 Billion by 2023
According to Allied Market Research, The Global Bubble Tea Market is expected to reach 3.2 Billion by 2023!
Google Trends shows bubble tea at it’s highest level since in 5 years
What is Bubble Tea?
Bubble Tea is tea that is shaken to produce bubbles on top. Many times it is flavored and has tapioca pearls or boba on the bottom. Bubble tea originated in Taiwan, but is now being consumed world-wide and tea shops are popping up all over the globe.
With fewer and fewer people demanding carbonated beverages, along with new flavors being introduced, there is good news for those who enjoy this refreshing beverage. The trends of bubble tea are changing for the better and the market is flourishing.
As previously mentioned, the basis of bubble tea is tea. Black, green, oolong, and white tea can all be used. Green bubble tea is expected to be the most lucrative segment of the base ingredients over the next several years. Reasons for this include the many health benefits of drinking green tea. Green tea has been shown to reduce cholesterol levels. It has also shown to reduce the risks of diabetes, Alzheimers and Parkinsons. Green tea improves metabolism and aids in weight loss.
The bubble tea market offers quite a variety of flavors. Major flavors include: original, coffee, fruit, and chocolate. The trends of bubble tea, in regards to flavor, show the fruit flavored bubble tea segment will grow the most over the next 5 years. This can be contributed to the massive diversity of fruit flavors. Consumers are becoming more and more health conscious and they are well aware of the higher nutritional value of fruit, over some of the other available flavors. Lastly, market research shows that consumers are more partial to fruit flavors over the others.
Bubble tea ingredients generally include tea leaves, flavored powders, creamers, syrups, sweetener, and tapioca pearls. These are then combined with professional tea equipment such as sealer machines, shaker machines and fructose dispensers to create the best drinks.
The future trends of bubble tea are expected to continue to grow globally. Recent research shows that Europe’s bubble tea market is expected to expand at the highest rate, followed by Asia-Pacific. In 2016, North America and Asia-Pacific together accounted for 83% of this industry. Click here for more information on opening your own bubble tea shop