The retail bubble tea kits market size was valued at $47,224.4 thousand in 2020, and is estimated to reach $133,554.4 thousand by 2030, registering a CAGR of 9.9% from 2021 to 2030.
Bubble tea kit comprise bubble tea components, which are sold as single unit and single price. Components of bubble tea are flavor, creamer, sweetener, liquid, tapioca pearls, and others. These components are provided with bubble tea kits in pouches or in cans. Bubble tea kits vary according to flavor, sweetener, and tapioca pearls.
Rise in inclination of consumers toward versatile teas with innovative bold flavors and availability of options to make boba tea at home with bubble tea kits are expected to favor growth of the market during the forecast period. Online sales have witnessed quite a notable growth among bubble tea consumers over local hypermarkets or other grocery stores. Ease of buying several types of bubble tea kits, wider variety of options, and availability of home delivery options are some of the benefits offered to bubble tea consumers from ecommerce sales. Therefore, online sales of bubble tea kits have increased in 2020.
The outbreak of COVID-19 has positively impacted the retail bubble tea kits market. The outbreak of COVID-19 pandemic has forced government bodies to impose strict closures of production facilities, restaurants, hotels, and cafes to maintain safety measures and implement social distancing, which had led to decrease in on-trade sales of bubble tea. Hence, people started buying bubble tea kits to make their own boba tea at home.
The retail bubble tea kits market is segmented on the basis of base ingredient, flavor, component, distribution channel, and region. On the basis of base ingredient, the market is categorized into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is segmented into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is segregated into flavor, creamer, sweetener, liquid, tapioca pearls, and others. On the basis of distribution channel, it is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Taiwan, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and rest of LAMEA).
However, counterfeit, similar tastes, and low-quality bubble tea kits are expected to hamper growth of the market. Bubble tea kits have gained significant popularity and due to its popularity and high sales revenue, many small companies or organizations have started producing low quality and similar tasting versions of such products and started selling them with the sole purpose of gaining profits.
The major players operating in the market are ORBITEL INTERNATIONAL, BUBBLE TEA HOUSE COMPANY, Boba Barista, Locca Bubble Tea, Bubble Tea Supply, THE TEASHED, The Bubble Tea Club, Buddha Bubbles Boba, BOBA CHiC, and Bek Foods.
Bubble tea kit comprise bubble tea components, which are sold as single unit and single price. Components of bubble tea are flavor, creamer, sweetener, liquid, tapioca pearls, and others. These components are provided with bubble tea kits in pouches or in cans. Bubble tea kits vary according to flavor, sweetener, and tapioca pearls.
Rise in inclination of consumers toward versatile teas with innovative bold flavors and availability of options to make boba tea at home with bubble tea kits are expected to favor growth of the market during the forecast period. Online sales have witnessed quite a notable growth among bubble tea consumers over local hypermarkets or other grocery stores. Ease of buying several types of bubble tea kits, wider variety of options, and availability of home delivery options are some of the benefits offered to bubble tea consumers from ecommerce sales. Therefore, online sales of bubble tea kits have increased in 2020.
The outbreak of COVID-19 has positively impacted the retail bubble tea kits market. The outbreak of COVID-19 pandemic has forced government bodies to impose strict closures of production facilities, restaurants, hotels, and cafes to maintain safety measures and implement social distancing, which had led to decrease in on-trade sales of bubble tea. Hence, people started buying bubble tea kits to make their own boba tea at home.
The retail bubble tea kits market is segmented on the basis of base ingredient, flavor, component, distribution channel, and region. On the basis of base ingredient, the market is categorized into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is segmented into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is segregated into flavor, creamer, sweetener, liquid, tapioca pearls, and others. On the basis of distribution channel, it is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Taiwan, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and rest of LAMEA).
However, counterfeit, similar tastes, and low-quality bubble tea kits are expected to hamper growth of the market. Bubble tea kits have gained significant popularity and due to its popularity and high sales revenue, many small companies or organizations have started producing low quality and similar tasting versions of such products and started selling them with the sole purpose of gaining profits.
The major players operating in the market are ORBITEL INTERNATIONAL, BUBBLE TEA HOUSE COMPANY, Boba Barista, Locca Bubble Tea, Bubble Tea Supply, THE TEASHED, The Bubble Tea Club, Buddha Bubbles Boba, BOBA CHiC, and Bek Foods.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global plant based food ingredients market with current trends and future estimations to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2020 to 2030 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.
Key Market Segments
By Base Ingredient
- Black Tea
- Green Tea
- Oolong Tea
- White Tea
By Flavor
- Original Flavor
- Coffee Flavor
- Fruit Flavor
- Chocolate Flavor
- Others
By Component
- Flavor
- Creamer
- Sweetener
- Liquid
- Tapioca Pearls
- Others
By DISTRIBUTION CHANNEL
- Supermarkets And Hypermarkets
- Convenience Store
- Online Retail
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Taiwan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- Rest of LAMEA
Key Market Players
- BUBBLE TEA HOUSE COMPANY
- Boba Barista
- Locca Bubble Tea
- Bubble Tea Supply
- THE TEASHED
- The Bubble Tea Club
- Buddha Bubbles Boba
- BOBA CHiC
- Bobagreen
- ORBITEL INTERNATIONAL
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: RETAIL BUBBLE TEA KITS MARKET, BY BASE INGREDIENT
CHAPTER 5: RETAIL BUBBLE TEA KITS MARKET, BY FLAVOR
CHAPTER 6: RETAIL BUBBLE TEA KITS MARKET, BY COMPONENT
CHAPTER 7: RETAIL BUBBLE TEA KITS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 8: RETAIL BUBBLE TEA KITS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The retail bubble tea kits market size was valued at $47,224.4 thousand in 2020, and is estimated to reach $133,554.4 thousand by 2030, registering a CAGR of 9.9% from 2021 to 2030.Bubble tea, popularly known as boba tea, is a Taiwanese drink invented in Tainan and Taichung in the 1980s. It is prepared with tea or milk as the base component. This tea is glazed with boba, which are soft, chewy, and gummy tapioca pearls extracted from cassava root. Other ingredients, such as jelly and fruit balls, are used to enhance the texture of the tea. Bubble tea kit is considered as an assortment of individual components of bubble tea sold as a single unit. The components of the bubble tea kit include flavor, creamer, sweetener, liquid, and tapioca pearls.
The global bubble tea kits market has witnessed significant growth in past few years, and is expected to grow at a steady pace during the forecast period. This can be attributed to growing health awareness and rise in product launches of food & beverages in the category of do-it-yourself (DIY). Availability of bubble tea kits at lower prices as compares to on-trade bubble tea and introduction of additional healthy ingredients in it by different market players drive the global bubble tea kits market growth. Furthermore, players in the market provide pack of various flavors in single bubble tea kit, which is expected to favor growth of the market.
Consumers across the globe have become very conscious about their health and body image. They are looking for viable alternatives to unhealthy food & beverages. Bubble tea is a healthy beverage with a number of benefits such as it helps to protect the body against free radicals that cause cellular damage. It is also available in different tastes and is quite a novel drink outside Southeast Asian countries, which boosts its attractiveness as a product.
Furthermore, Most of the people are working from home due to pandemic. After pandemic, most of the companies are trying to adopt hybrid work culture in their organizations. People are going for convenient options to make their own beverages at home, which is expected to increase the demand for bubble tea kits during the forecast period.
However, availability of substitute products in cost-effective prices and rise in trend of coffee consumption are expected to restrict the market growth. Furthermore, some cafes and restaurants provide bubble tea delivery at home, which hampers growth of the bubble tea kits market.
The outbreak of the pandemic has positively affected the global retail bubble tea kits market as cafes and restaurants were temporarily closed during the lockdown period and people choose to buy bubble tea kits to make their boba tea home.
The retail bubble tea kits market is segmented on the basis of base ingredient, flavor, component, distribution channel, and region. On the basis of base ingredient, the market is categorized into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is segmented into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is segregated into flavor, creamer, sweetener, liquid, tapioca pearls, and others. On the basis of distribution channel, it is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, Taiwan, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey, and rest of LAMEA).
According to the retail bubble tea kits market trend, on the basis of base ingredients, the black tea segment was the highest contributor to the market, with $19,884.5 thousand in 2020, and is estimated to reach $53,668.4 thousand by 2030, at a CAGR of 9.3% throughout retail bubble tea kits market forecast period. This is attributed to rise in popularity of bubble tea with black tea as the base ingredient across the globe. However, the green tea segment is expected to grow at the highest CAGR during the forecast period. This is attributed to growing number of health-conscious consumers worldwide.
On the basis of flavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market. This can be attributed to change in preference of consumers toward healthy beverages and better taste. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups.
On the basis of component, the liquid segment was the significant contributor to the market, with 7,920.8 thousand in 2020, and is estimated to reach $24,419.8 thousand by 2030, at a CAGR of 10.8% during the forecast period. This is attributed to the availability of various options such as combination of various liquid flavors and syrup pouches. However, the sweeteners segment is expected to grow at the highest CAGR during the forecast period, owing to availability of organic sweetener pouches such as honey-based sweeteners in bubble tea kits.
On the basis of distribution channel, the supermarket & hypermarket segment had highest share in the market. Hypermarkets/supermarkets are gaining popularity, owing to availability of a broad variety of foods & beverages under a single roof, in addition to ample parking space and convenient operation timings. Moreover, increase in urbanization, rise in working class population, and competitive pricing boost popularity of hypermarkets/supermarkets. Furthermore, these stores offer a variety of product categories, providing more options for consumers to buy bubble tea kits of their choice.
According to the retail bubble tea kits market opportunity, region wise, North America garnered a highest share in the market in 2020, and is expected to maintain its share throughout the retail bubble tea kits market during the forecast period. This is attributed to higher expenditure of consumers on healthy beverages. Moreover, aggressive marketing and celebrity brand endorsements for various flavors of bubble tea help push sales in this region. However, Europe is expected to grow with the highest CAGR throughout the forecast period, owing to changes in buying behavior of people and rise in awareness regarding bubble tea in this region.
Players operating in the global retail bubble tea kits industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include ORBITEL INTERNATIONAL, BUBBLE TEA HOUSE COMPANY, Boba Barista, Locca Bubble Tea, Bubble Tea Supply, THE TEASHED, The Bubble Tea Club, Buddha Bubbles Boba, BOBA CHiC, and Bek Foods.
KEY FINDINGS OF THE STUDY
The retail bubble tea kits market size was valued at $47,224.4 thousand in 2020, and is estimated to reach $133,554.4 thousand by 2030, registering a CAGR of 9.9% from 2021 to 2030.In 2020, by base ingredient, the black tea segment is estimated to witness the significant growth, registering a CAGR of 9.3% during the forecast period.
In 2020, depending on flavor, the coffee flavor segment was valued at $29,391.3 thousand, accounting for 5.3% of the global retail bubble tea kits market share.
In 2020, by component, the sweetener segment is estimated to witness significant growth, registering a CAGR of 9.9% during the forecast period.
In 2020, depending on distribution channel, the convenience stores segment was valued at $9,398.5 thousand, accounting for 19.9% of the global retail bubble tea kits market share.
Companies Mentioned
- BUBBLE TEA HOUSE COMPANY
- Boba Barista
- Locca Bubble Tea
- Bubble Tea Supply
- THE TEASHED
- The Bubble Tea Club
- Buddha Bubbles Boba
- BOBA CHiC
- Bobagreen
- ORBITEL INTERNATIONAL
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 283 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 47224.4 thousand |
| Forecasted Market Value ( USD | $ 133554.4 thousand |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
