Bubble Tea Market Opportunities and Strategic Focus Report
A Taiwanese tea-based drink created by Tainan and Taichung in the 80s is bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, boba tea or just boba tea).
The majority of bubble tea recettes have a tea base with fruit or milk which is commonly added to chewy tapioca balls and fruit jelly (called bubbles, pearls, or boba).
Increasing individual health concerns, as well as different health advantages from bubble tea, are one of the main causes fueling the expansion of the world's market in the bubble tea sector, driven by changing lifestyles. Furthermore, children and adults increasingly draw on aromatized beverages, and producers increase product innovation to attract clients and widen their client base.
Moreover, tea production rises in countries like China, India, and others because of the people's increase in demand as a base ingredient in bubble tea. Various varieties and flavours, such as fruit, green jasmine and Schwarz tea, are available on the market.
The fruit-flavoured tea offers several varieties of fruity-flavoured cream and a fruit-flavoured drink. There are alternatives for black, green jasmine, green téa and others in the lactose-intolerant populations. The availability of several kinds of boba tea offers additional choices for the customer. This technique contributes to attracting more consumers.
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The global Bubble Tea Market is segmented into Black Tea, Green Tea, and others. Black tea retained the greatest share of the market, with a dominance during the predicted period, of over 45% in 2019. The true natural flavour of black tea is attributable to this development.
In addition, this drink reduces blood sugar and harmful cholesterol levels and improves intestinal health. It also works as a great antioxidant source.
Based on Components, the market has been segmented into Flavor, Creamer, Sweetener, Liquid Tapioca, Pearls, Others. The segment Flavor holds the biggest market share in the projected term while the sweetener over the forecast period is calculated to have the highest CAGR. Due to the increasing need for sweet beverages worldwide, the demand for this category is fueling.
The greatest sales are anticipated for Vietnam and Taiwan. In order to attract consumers and strengthen their market position, several firms are opening new restaurants and cafés. In September 2020, for example, Chen Shucheng launches a new bubble tea business, Meme Xpress, in Singapore. In December 2019, the average consumption of bubble tea in Thailand was six cups per person per month in the ASEAN Post. Thailand was one of the biggest users.
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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 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.
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