Bubble Tea Market: Current Analysis and Forecast (2021-2027)

Bubble tea, also known as boba tea or pearl milk tea, is a Taiwanese tea beverage. This refreshing drink can be made using any type of tea as the base, followed by a specific ratio of milk and sweetener, or no milk at all. Because of its growing popularity, bubble tea is gaining traction in emerging markets. Furthermore, rising health consciousness and changing consumer preferences towards healthy beverages such as green tea, black tea, oolong tea, and white tea is crucial factors driving the market growth. Moreover, zero fat and low-calorie content of these beverages, as well as their rising consumption among students and working-class population, are proliferating the market growth. There are many companies pioneering delicious bubble tea drinks across a wide market, and they're even entering the food industry.

Based on type, the Bubble Tea Market is segmented into Black Tea, Green Tea, Oolong Tea, and White Tea. In 2020, the black tea category dominated the market and is expected to continue this trend throughout the forecast period. This is mainly due to the rising popularity of bubble tea with black tea as a base ingredient across the globe

Based on flavor, the market is bifurcated into Original Flavor, Fruit Flavor, Chocolate Flavor, and Coffee Flavor. Among these, fruit flavor dominates the bubble tea market across the globe. It is primarily due to the rising consumer preference for healthy food & beverages and the high nutritional value of this flavor as compared to others.

Based on the component, the market is segmented into Flavor, Creamer, Sweetener, Liquid, and Tapioca pearls. Among these segments, the flavor is estimated to hold the largest market share during the forecast period. Sweetener is anticipated to experience the highest CAGR during the forecast period, driven by the increasing demand for sweet beverages globally.

Based on distribution channel, the market is bifurcated into Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, and Online Stores. With an increasing number of consumers preferring the convenience of shopping online, online retail is projected to be the fastest-growing segment.

For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Spain, Rest of Europe); Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific); and Rest of World.

Some of the major players operating in the market include Coco fresh Tea & Juice, ChaTime Group, Bubble Tea Supply Inc., Gong Cha, Sharetea, Bubble Tea House Company, Ten Ren's Tea Time, Happy Lemon, Kung Fu Tea, Tiger Sugar.