Please create an employee account to be able to mark statistics as favorites. The consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. Keep reading to discover everything weve uncovered about bubble tea. Bubble tea was introduced to Singapore in 1992. . This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. Tapioca balls or pearls are often added to the concoction as well. But the story of bubble tea in Singapore dates back almost three decades. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. I believe its because of the level of sugar [in the drink], she said. Tapioca balls or pearls are often added to the concoction as well. 5. Prices are higher than previously, reaching as much as S$6 per cup as compared to S$3 in the past.12 Nevertheless, bubble tea shops have attempted to sustain the popularity of the drink by continually developing new and unusual flavours, as well as engaging with customers through social media.Health concernsIn May 2011, it was found that two fruit juice brands from Taiwan used by some bubble tea outlets contained plasticisers that were harmful to health. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. 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. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. For instance, in April 2022, U.S.-based start-up Bubluv Inc. launched tapioca starch and konjac-based boba tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. Heritage and Culture. According to a recent study, the bubble tea industry is expected to grow by almost $2 billion to a whopping $4.3 billion by 2027. The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. According to the study, there are three underlying fundamentals to building a successful bubble tea business. The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. Please create an employee account to be able to mark statistics as favorites. Ive been drinking it a lot for the past few months and realised that my weight increased. 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. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. What may surprise you though is the amount of sugar! Plasticisers are discovered in two Taiwanese fruit juice brands, resulting in suspension of the brands.2013: Maleic acid found in Taiwanese starch products, affecting the pearl supplies of certain bubble tea chains.AuthorJan YapReferences1. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. Storm in a bubble-tea cup. This can be attributed to change in preference of consumers toward healthy beverages and better taste. Arlina Arshad. Your email address will not be published. It cited Nayuki, the first new tea brand to go public, whose market cap plunged by more than 70 per cent since it listed on the Hong Kong stock exchange. Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. Save my name and email in this browser for the next time I comment. "(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. Right on cue, eight bubble tea establishments in Singapore have launched new drinks. Get full access to all features within our Business Solutions. In addition, as Europe is not highly indulged in tea production and mostly relies on other regions for the supply of tea, it somehow limits the market growth. This file photo shows a group of girls drinking bubble tea. Arlina Arshad. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Bubble tea fad makes comeback. A. These pearls, that looks like dark bubbles, give the tea its name. The students tested five popular brands of bubble tea for their sugar content and found that two brands tested for incredibly high sugar content Brown Sugar Boba Milk Tea and Bubble Milk Tea ordered with 100 percent sugar which has 18.5 and 20.5 teaspoons of sugar, respectively. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. You need a Statista Account for unlimited access. The report covered all the points and was very detailed. However, the consumption of tea is not as prominent as the popularity of coffee in South American countries such as Argentina and Brazil. Countries such as Vietnam and Taiwan are projected to have the largest sales. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Retrieved from NewspaperSG.4. The global bubble teamarket holds a substantial scope for growthduring the forecast period. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. 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. Though there are high margins, bubble tea is a low-differentiation game with easily replicable products and a challenging supply chain, he said. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. This was attributed to rise in the fitness conscious people across the globe. To continue, upgrade to a supported browser or, for the finest experience, download the mobile app. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. The beverage is now considered a mainstay due to its unique formulation. Currently, the major bubble tea chains are Koi and Gong Cha. Long queues at bubble tea shops, now serving only takeaway bubble tea, were a common sight. hief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. It also offers a detailed analysis of the market size and growth rate for all possible market segments. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. New bubbly a hit with youth here. 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. How much is the global bubble tea market worth? As a Premium user you get access to the detailed source references and background information about this statistic. Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. Teens use tea house notice board to talk to each other, AVA suspends two more Taiwanese juice brands, Unapproved additive found in 11 food products, Pearls dropped by some bubble tea shops. As a Premium user you get access to the detailed source references and background information about this statistic. By region, North America was the most prominent regional market in 2019. As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. Stay abreast of your interest areas. Young people between ages 20 and 29 are interested in bubble tea. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! 16. 15. 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. According to Grabs data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. 4. "The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent," the release said. The bubbles are made from tapioca and have high carbohydrate content. Availability of Alternative Caffeinated Drinks to Impede Growth. February 11, 2020. There are many varieties of the drink with a wide range of ingredients. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) compared to 2018. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). 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. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. The Straits Times, p. 3. 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. Please do not hesitate to contact me. It looks quite comprehensive and the data is exactly what I was looking for. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. The number of bubble tea shops grew to at least 5,000 by 2002. DBS Group Research. A. Arlina Arshad. Retrieved from NewspaperSG.11. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. Durai, J., & Poon, C. H. (2011, June 4). However, bubble tea has hidden ingredients such as sugar, sweeteners and artificial flavourings. Bubble tea drinks are designed to appeal to younger consumers as a way for brands to be part of viral food trends. 3. Unapproved additive found in 11 food products. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. Pandemic disrupted the entire world and affected many industries. 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. There are six official types of bubble tea. under and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. The black tea segment is expected to be the leading segment in the global market. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. ", 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. 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 . The market is expected to grow at a CAGR of 7.51%, during the forecast period. Which region held the highest share in the global market? Art & Craft. In the United States, 95% of women have tried bubble tea versus 81% of males. A file photo showing cups of bubble tea. Boba tea, or "bubble tea," has been around since the late 1980s in Taiwan. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. 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. The added sugar in the cooking process can ramp up the balls to an estimate of 160 calories per quarter-cup serving. I have feedback on this infopedia article: Bubble tea. Malaysia, Singapore, Vietnam and Indonesia consume three cups per person per month. 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. 8. Number of bubble tea outlets in Singapore in 2019, by. Access to this and all other statistics on 80,000 topics from, Show sources information 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! Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Health-beneficial attributes such as low-fat, low-calorie content, and the presence of anti-inflammatory properties are the key driving factors of the market. 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. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. Retrieved from NewspaperSG.2. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Recent Statistics Popular Statistics Facebook: quarterly number of . Access to this and all other statistics on 80,000 topics from, Show sources information 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. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. 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. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. 7. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . A. As a Premium user you get access to background information and details about the release of this statistic. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. 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. Bubble tea truly is an international drink! Looking forward to work together in the future, It has been a delightful experience working with you guys. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. At what CAGR is the bubble tea market projected to grow in the forecast period (2023-2030)? ", 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. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Tapioca balls or "pearls" are often added to the concoction as well. Both the Jiajia Milk Tea and Jiajia Boba have a refreshing combination of rich . Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. This was attributed due to rise in the consumption of tea based everages across the world. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. You can only download this statistic as a Premium user. Gong Cha, for instance, was founded in 2006 in Taiwan. In 1987, a staff member had the idea of adding. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. [Online]. Last week, it was announced that Singapore will soon require food and beverage outlets to include nutrition labels on their menus to indicate drinks that contain higher levels of sugar and saturated fat. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. 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 best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Thank you for requesting a call back, our sales representative will get in touch with you shortly! The global Bubble Tea Market is expected to $4,368.6 million in 2027. The increase in bubble tea shops led to intense competition and price wars.9 Slashed prices, one-for-one offers and even lucky draw promotions were used to entice customers. Available: https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Important factors when considering a bubble tea purchase in Singapore in 2020, Available to download in PNG, PDF, XLS format, Latin America: largest yerba mate exporters 2020, by value, Latin America: leading yerba mate importers 2020, Argentina: yerba mate per capita consumption 2013-2018, Argentina: yerba mate export volume 2010-2018, Argentina: yerba mate import volume 2010-2018, Brazil: harvested hectarage of yerba mate 2013-2019, Brazil: yerba mate export value 2010-2022, Brazil: yerba mate leading export destinations 2022, Brazil: yerba mate import value 2013-2020, Paraguay: yerba mate export value 2010-2018, Paraguay: yerba mate export volume 2010-2018, Paraguay: yerba mate export volume 2018, by country, Paraguay: yerba mate import volume 2010-2018, Uruguay: yerba mate import value 2013-2018, Mexico: yerba mate import value 2012-2018, Bolivia: yerba mate import value 2013-2018, Cost of one cup of bubble tea Singapore 2018, by major brand, Favorite coffee and tea drinks in Germany 2019-2021, Share of past-day tea consumers in Canada 2009-2020, Share of Americans who drink Nestea 2018, by age, Share of past-day tea consumers in Canada 2011-2013, by age, Consumption of specialty teas by consumers aged 25-34 years and 55+ consumers UK 2016, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, How people take their tea in the United Kingdom (UK) in 2014, by region, Market value of RTD tea in ASEAN by country 2015/2020, Types of functional beverages tried among consumers in Vietnam 2019, by gender, Frequency of drinking functional beverages in Vietnam 2019, Main factors for buying non-alcoholic beverages in Vietnam 2019, by age, Tapioca and substitutes import value to Japan 2020, by region, Tapioca and substitutes import volume to Japan 2021, by region, Find your information in our database containing over 20,000 reports. Previously, tea was usually served hot, so it was considered a novel idea to cool the tea with ice and mix it with various ingredients. Accessed May 01, 2023. https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Nielsen. According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. Over of the bubble tea enjoyed around the world is fruit-flavored. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! Nielsen. AVA suspends two more Taiwanese juice brands. Followed by Asia Pacific, the North America bubble tea market share emerged to be the second-largest and is likely to maintain its position throughout the forecast period. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share Then you can access your favorite statistics via the star in the header. 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. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. Sometimes they are blended with ice to give them a more slushy-like consistency. 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. Expanding Range of Products to Target Younger Individuals to Boost Growth. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. These measures are part of efforts to help consumers to make more informed, healthier choices,Health Minister Ong Ye Kung said. The current valuation of the market is US$ 2.50 billion in 2022. This beverage has undergone a few waves of popularity in Singapore. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. 9. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. This is a very good piece of work and will be very helpful to us going forward. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. The appearance of the finished drink is what led to its name. However, consumers love for bubble tea wont change anytime soon, but they will vote for their favourite brands with their wallets.. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. The Straits Times, p. 73. [Online]. Use Ask Statista Research Service, The question asked was as follows: "Below are a list of factors that are important when choosing to purchase beverages. All Rights Reserved. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. A. 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. 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. Aqilah still drinks the occasional bubble tea. The increase in bubble tea shops led to intense competition and price wars.
