Rise in adoption of healthy beverages including green tea, black tea, and white tea among consumers and consumption of flavored bubble tea among young generation drive the growth of the global bubble tea market
PORTLAND, Oregon, April 14, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Bubble Tea Market by Base Ingredient (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, and Others), and Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global bubble tea market generated $2.4 billion in 2019, and is expected to reach $4.3 billion by 2027, growing at a CAGR of 7.8% from 2020 to 2027.
Prime determinants of growth
Rise in health consciousness, surge in adoption of healthy beverages including green tea, oolong tea, black tea, and white tea among consumers, and consumption of flavored bubble tea among young generation drive the growth of the global bubble tea market. However, excessive inclusion of sugar content in drinks that causes health issues and trend of coffee consumption hinder the market growth. Contrarily, emergence of new flavors & blends along with increasing demand among young population for different types of teas provide lucrative opportunities in the coming years.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/3194
The black tea segment to maintain its lead status throughout the forecast period
Based on base ingredient, the black tea segment accounted for the largest market share in 2020, holding more than two-fifths of the global bubble tea market, and is estimated to maintain its lead status throughout the forecast period. This is attributed to surge in awareness and health benefits including prevention of chronic diseases such as obesity, diabetes, cardiovascular disease, and cancer. However, the green tea segment is estimated to maintain the highest CAGR of 8.2% from 2020 to 2027, owing to increase in number of fitness conscious consumers across the globe.
The fruit flavor segment to dominate during the forecast period
Based on flavor, the fruit flavor segment accounted for more than three-fifths of the global bubble tea market in 2020, and is projected to continue to dominate during the forecast period. This is due to surge in number of vegan people and health consciousness consumers across the globe. However, the chocolate flavor segment would grow at the fastest CAGR of 8.4% from 2020 to 2027, owing to its ability to offer combined health benefits of both chocolate and bubble tea.
North America to maintain its dominant position by 2027
Based on region, North America accounted for more than half of the global bubble tea market in 2020, and is estimated to maintain its dominant position by 2027. This is attributed to rise in number of tea and coffee consumers in the region. However, Europe is estimated to maintain the highest CAGR of 8.7% from 2020 to 2027, owing to surge in tourism activities, health consciousness among young population, and prominence of the bubble tea in the region.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/3194
Leading market players
- Bubble Tea Supply Inc.
- CoCo Fresh
- Kung Fu Tea
- Boba Loca
- Share Tea
- T Bun International
- Fanale Drinks
- Grand Chainly
- Huey-Yuhe Enterprise
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
SOURCE Allied Market Research