Bubble Tea Market Report and Forecast 2024-2032

According to the report, the global bubble tea market grew significantly in 2023. Aided by the worldwide fondness for flavourful beverages and the escalating popularity of Asian culinary culture, the market is projected to further grow at a CAGR of 7.50% between 2024 and 2032 reaching a value of approximate USD 5.73 billion by 2032.

Bubble tea, originating from Taiwan in the 1980s, is a sweetened tea beverage, typically infused with fruit or milk, and adorned with chewy tapioca balls, also known as “pearls” or “boba”. Beyond its traditional concoction, the beverage can be tailored with a multitude of ingredients, including fruit jellies, puddings, and various syrups, catering to diverse palates across the globe.

A notable force driving the bubble tea market growth is the ever-evolving consumer penchant for novel and exotic beverages. As international travel and exposure to foreign cuisines intensify, the allure of bubble tea, with its distinctive texture and myriad flavour combinations, has captivated a broad spectrum of consumers, from young hipsters to seasoned aficionados.

Another significant factor catapulting bubble tea's global appeal is its adaptability to local tastes and preferences. Entrepreneurs and established chains alike have demonstrated ingenuity, curating regional adaptations of the beverage. As per the bubble tea market analysis, whether it's incorporating matcha in Japan, adding coconut milk in Thailand, or infusing local fruit flavours in Brazil, the drink's chameleon-like adaptability has rendered it universally beloved.

The beverage's aesthetic appeal, bolstered by Instagram and other social media platforms, cannot be understated in driving its popularity. The vibrant colours, coupled with customisable toppings and attractive packaging, make bubble tea a visual treat, amplifying its shareability online and subsequently bubble tea market demand.

Additionally, the emergence and expansion of dedicated bubble tea chains, both local and international, have strengthened the drink's market presence. These establishments not only offer a diverse menu but also promote the entire bubble tea "experience,"often characterised by contemporary interiors, engaging customer interactions, and a sense of community among enthusiasts.

Moreover, the health and wellness trend, which emphasises reduced sugar consumption, has increased the value of the bubble tea market size. Nowadays, many outlets offer sugar level customization, and some even incorporate natural sweeteners, thereby aligning their offerings with health-centric demands.

Market Segmentation

The market can be divided based on type, flavour, and region.

Market Breakup by Type

• Black
• Green
• Oolong
• White

Market Breakup by Flavour

• Original
• Fruit
• Coffee
• Chocolate
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global bubble tea market. Some of the major players explored in the report are as follows:

• Dama Foods International Co., Ltd
• Lollicup USA Inc.
• Fokus Inc.
• Cuppo Tee Company Limited
• Sumo's (M) Sdn Bhd
• Huey-Yuhe Enterprise Co., Ltd.
• Boba Box Limited
• Zacely Limited (Bubble Tea House Company)
• CAFÉ POS, LLC
• Kevito Ltd.
• Qbubble Troika J C Inc.
• KOI Thé CO, LTD.
• CoCo Fresh Tea & Juice.
• SHARETEA
• Tiger Sugar
• Yummy-Town USA LLC
• Ichibanya Co., Ltd.
• Biju Bubble Tea
• Others