[FURL=https://www.industryarc.com/Research/Bubble-Tea-Market-Research-507319?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Bubble Tea Market[/FURL] Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. Bubble Tea is a famous non-alcoholic beverage drink that first became popular in Taiwan in the 1980s. Bubble tea is also known as pearl milk tea or bubble milk tea. The main ingredient in bubble tea is tea, which is combined with flavorful chewy tapioca balls manufactured of tapioca starch.Key Takeaways
The global bubble tea industry is being driven by a growing fitness and health concerned population, as well as an increase in the number of tea drinkers.
Furthermore, low prices and a steady shift in tea drinkers’ preferences from conventional to flavored teas are propelling the bubble tea business.
To increase their market share, major corporations around the world provide a variety of boba tastes. Boba Box Limited, a UK-based boba maker, sells mini boba in a variety of flavors, including blueberry, cherry, green apple, lemon, passion fruit, peach, raspberry, and more.
However, the availability of substitute drinks like coffee, as well as the negative consequences of excessive tea intake and the addition of artificial colors to bubble tea, are some of the issues that are limiting market expansion.
Bubble Tea Market: Market Share (%) by Region, 2020
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Bubble Tea Market Segment Analysis – By Geography
Based on Geography, in 2020, the Asia-Pacific Bubble Tea Market accounted for 38% of total sales. Asia-Pacific is expected to lead the bubble tea market owing to its high production and consumption of various types of tea, including oolong tea, black tea, and green tea. Thailand, in addition to Taiwan, has emerged as a prospective market for bubble tea consumption. Thailand consumed an average of 6 cups of bubble tea per person per month in 2019, according to the ASEAN Post. During the projection period, the Bubble Tea Market in North America is predicted to grow at the fastest rate. In Taiwan, zhenzhu naicha boba tea, bubble tea, and pearl milk tea are fundamentally the same drink. The names vary by area, as well as a personal choice.
Bubble Tea Market Drivers
Availability of Wide Range of Flavors is Boosting the Market Growth
Rising Awareness on Health Benefits of Consuming Oolong Tea is Boosting the Market Growth
Bubble Tea Market Segment Landscape:
Bubble Tea Market top 10 companies are Teapioca Lounge, OCOCO International Co., Ltd., Kung Fu Tea, Lollicup Coffee & Tea, Vivi Bubble Tea, Chatime, Boba Guys, Chill Bubble Tea, Boba Tea Company, Real Fruit Bubble Tea, Boise Boba
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