Profit from the additional features of your individual account. Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . The ideal entry-level account for individual users. This beverage has undergone a few waves of popularity in Singapore.DescriptionBubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the concoction. A bubble tea. Book your free consultation and let our research experts help you with your needs/problems. ", DBS Group Research, Number of bubble tea outlets in Singapore in 2019, by brand Statista, https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/ (last visited May 01, 2023), Number of bubble tea outlets in Singapore in 2019, by brand [Graph], DBS Group Research, October 22, 2019. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. As soon as this statistic is updated, you will immediately be notified via e-mail. A. Keep reading to check them out! Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. 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. The emergence of Chinese players who are good at branding, product/supply chain and cost management could pose an increasing challenge to existing local players. Modern Asian Desserts expanded its business in the country by introducing various boba milk tea outlets. This includes bubble tea outlets. As a Premium user you get access to the detailed source references and background information about this statistic. (1992, May 27). This was attributed to rise in the fitness conscious people across the globe. Bubble tea originates from Taichung, Taiwan. Show publisher information "Important factors when considering a bubble tea purchase in Singapore in 2020." Retrieved from NewspaperSG.7. Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. 1. AVA suspends two more Taiwanese juice brands. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. In 1987, a staff member had the idea of adding. 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. 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. It also offers a detailed analysis of the market size and growth rate for all possible market segments. And if youre looking for all the facts and figures that back up our claim, you have this blog post. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. Statista. [Online]. Such initiatives further support the immense growth opportunities for the companies. You can only download this statistic as a Premium user. All rights reserved. To use individual functions (e.g., mark statistics as favourites, set If you are an admin, please authenticate by logging in again. 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. According to a study published in the National Library of Medicine, in 2022, chewing tapioca pearls can increase salivary C-protein (CRP) and calcium (Ca) levels. At the end of the day, its not much worse than an occasional soda would be for the average person, but its important to remember to only have bubble tea once in a while. Extruding the tapioca into these small balls is difficult work. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fuel market growth. You need at least a Starter Account to use this feature. The price for bubble tea depends on where you get it. Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving boba tea across the country. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. Access to this and all other statistics on 80,000 topics from, Show sources information Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. Long queues at bubble tea shops, now serving only takeaway bubble tea, were a common sight. Thank you for contacting us, our sales representative will get in touch with you shortly! A. A. 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. New bubbly a hit with youth here. What is the major restraint for the global market? Retrieved from NewspaperSG.2. "Number of bubble tea outlets in Singapore in 2019, by brand." The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Keep reading to discover everything weve uncovered about bubble tea. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Retrieved from NewspaperSG.9. However, the drinks popularity also contributed to its downfall. Which is the leading segment based on the product type in the market? Accessed May 01, 2023. https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Nielsen. There has been speculation linking tapioca balls to cancer, though most claims have been refuted following extended research. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. Bubble tea, first introduced in Taiwan in the 1980s has done on to become a global phenomenon made popular by Internet foodies. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Nigeria, specifically, has become a hub for cassava production. 15. 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. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Low, F., & Lee, H. M.(2011, March 27). 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 such similar drinks, owing to the ever-growing demand from youth. Since our launch, weve worked on more than 1,000 projects for clients around the world. Right on cue, eight bubble tea establishments in Singapore have launched new drinks. Tapioca balls or "pearls" are often added to the concoction as well. [Online]. 14. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. In, Nielsen. 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. Dr Emily Ortega, head of the Psychology Programme at the Singapore University of Social Sciences, said that bubble tea is "very much a social experience for many people". These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. But the story of bubble tea in Singapore dates back almost three decades. Bubbling over. 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. (February 11, 2020). We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! Ho, S. B. Bubble tea was introduced to Singapore in 1992. . 15 Bubble Tea Stores That Are Leading the Industry Right Now | World ", Latin America: yerba mate per capita consumption 2018, by country, Argentina: yerba mate export volume 2019, by destination, Argentina: yerba mate production 2010-2019, Latin America: yerba mate planted area 2020, by country. Subject European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. 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. Momentum Works founder and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. (2002, January 13). The availability of different types of milk tea offers numerous options for consumers to enjoy. In a survey of Singaporean bubble tea consumers in 2020, 69 percent of respondents stated that taste was their main consideration when purchasing bubble tea, while 61 percent stated price.
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