Bubble tea often called as boba milk tea is a frothy, cold beverage made with a tea base blended with various flavors, sweeteners, tapoica pearls at the base of the drink, and other ingredients. Tapioca pearls are made from cassava roots that contain significant amounts of calcium and vitamin c. This beverage was invented in Taiwan in 1980s. As this beverage has froth and tapoica pearls at the botton it is called as bubble tea. It is available in variety of flavors such as chocolate, coffee, fruit, and original bubble tea flavors. It is gaining popularity in many western and european countries owing to its unique flavor and recipe.
MARKET SCOPE
The "Global Bubble Tea Market Analysis to 2028" is a specialized and in-depth study of the food and beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the bubble tea market with detailed market segmentation by type, flavor, distribution channel, and geography. The report provides key statistics on the market status of the leading bubble tea market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of type, the market is segmented into black tea, green tea, oolong tea, white tea, and others.
- On the basis of flavor, the market is segmented into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others.
- On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others.
MARKET DYNAMICS
Drivers
- Rising popularity of bubble tea owing to its unique recipe and flavor is the major driving factor for the market growth
- Low-calorie and zero content of bubble tea is also gaining traction among the fitness enthusiast which is expected to boost the product demand
Restraints
- Shutdown of cafes, restaurants, retail stores, and other food service outlets due to the nationwide lockdown imposed by governments because of the outbreak of COVID-19 pandemic may hinder the market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The bubble tea market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the bubble tea market in these regions.
IMPACT OF COVID-19 ON BUBBLE TEA MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products.
MARKET PLAYERS
The report covers key developments in the bubble tea market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from bubble tea market are anticipated to lucrative growth opportunities in the future with the rising demand for bubble tea in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the bubble tea market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bubble Tea House Company
- Bobabox Ltd.
- Fokus Inc.
- Gong Cha
- Chatime
- Lollicup USA Inc.
- Bubble Tea Supply
- Ten Ren's Tea Time
- Troika JC QBubble
- TAITRA
- Sumo's (M) Sdn Bhd
- Sharetea
- Happylemon
- KUNG FU TEA
- Quickly USA Inc.
- Fanale Drinks
- GRAND CHAINLY
- Boba Tea Company
- Boba Guys Inc.
- Boise Boba
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.