Expansion of franchise stores, investments, fundings, and new product launches are the key strategies of the bubble tea market players. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. A. The Straits Times, p. 3. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. (October 22, 2019). Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. Hawker centres too began to sell bubble tea, with some small start-ups even operating from shops selling items such as cakes and shoes. This includes building a decent flagship product to get initial traction, achieving single-store profitability and scaling the model while maintaining the positive unit economics. Durai, J., & Poon, C. H. (2011, June 4). Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. With 250 different flavors, it makes sense that there would be different bases to the teas. In. The bubble tea industry was valued at $2.2 billion in 2019. Retrieved from NewspaperSG.10. (February 11, 2020). Bubble tea truly is an international drink! Singapore: bubble tea consideration factors 2020 | Statista The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. Who are the leading players in the global market? The manufacturers or entrepreneurs in the boba tea industry are venturing into the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Get detailed COVID-19 impact analysis on the Bubble Tea Market. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. Access to this and all other statistics on 80,000 topics from, Show sources information Since our launch, weve worked on more than 1,000 projects for clients around the world. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Bubble tea | Infopedia - National Library Board One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. It cited Nayuki, the first new tea brand to go public, whose market cap plunged by more than 70 per cent since it listed on the Hong Kong stock exchange. Furthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. You need a Statista Account for unlimited access. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. Perhaps bubble tea brands should work towards designing more nutritious versions of their drinks without losing the signature taste and appeal which has made the drink so popular in Southeast Asia. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. ", DBS Group Research, Number of bubble tea outlets in Singapore in 2019, by brand Statista, https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/ (last visited May 01, 2023), Number of bubble tea outlets in Singapore in 2019, by brand [Graph], DBS Group Research, October 22, 2019. The current valuation of the market is US$ 2.50 billion in 2022. Moreover, the emergence of do-it-yourself kits and classes allowed people to make their own bubble tea.10 As with other food fads, the novelty of the drink quickly wore off. The consumption of bubble tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. Global Opportunity Analysis and Industry Forecast, 20202027. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. Extruding the tapioca into these small balls is difficult work. 14. The bubble tea industry is expected to reach $3.39 billion by 2027. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. Businesses that sell bubble tea (including those that serve other drinks, such as coffee and smoothies) face a lot of competition since there are many places where customers can find the same drink. Remarkable job and great efforts by your research team. . ", Latin America: yerba mate per capita consumption 2018, by country, Argentina: yerba mate export volume 2019, by destination, Argentina: yerba mate production 2010-2019, Latin America: yerba mate planted area 2020, by country. In a survey of Singaporean bubble tea consumers in 2020, 69 percent of respondents stated that taste was their main consideration when purchasing bubble tea, while 61 percent stated price. We use cookies to enhance your experience. Retrieved from NewspaperSG.12. Pandemic disrupted the entire world and affected many industries. Which region held the highest share in the global market? Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. Brands, such as Koi The Co, Moge Tee, and M.A.D. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. Ive been drinking it a lot for the past few months and realised that my weight increased. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share All rights reserved. Expanding Range of Products to Target Younger Individuals to Boost Growth. Exactly how popular is bubble tea in Singapore? Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and bubble teas. The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. T&C*. Retrieved from NewspaperSG.13. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. New bubbly a hit with youth here. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. The largest market in the region is Indonesia, with an estimated US$1.6 billion annual turnover. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. Retrieved from NewspaperSG.6. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. This service is not intended for persons residing in the E.U. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). What may surprise you though is the amount of sugar! Chart. Bubble tea everything: The latest bubble tea trends in the market Arlina Arshad. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fuel market growth. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. Previously, tea was usually served hot, so it was considered a novel idea to cool the tea with ice and mix it with various ingredients. 8 New Bubble Tea Launches In Singapore 2022 - GirlStyle Singapore Chocolate-flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. The Straits Times, p. 30. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. Heritage and Culture. The chocolate segment is projected to have the fastest growth in the coming years due to increasing demand for chocolate-based drinks from every age group. By continuing to visit this site you agree to our use of cookies . Available: https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, Number of bubble tea outlets in Singapore in 2019, by brand, Available to download in PNG, PDF, XLS format, Leading black tea exporters worldwide 2021, Area harvested for tea in India 2010-2020, Production of tea in north India FY 2014-2022, Production volume of tea in south India FY 2014-2022, Production of tea in India FY 2021, by category, Tea production volume in India FY 2022, by grower size, Export value of tea and coffee from India FY 2011-2022, Indian tea exports value FY 2022, by destination country, Indian tea exports volume FY 2022, by destination country, Import value of tea in India FY 2014-2022, Import volume of tea into India FY 2014-2022, Wholesale Price Index of tea in India FY 2012-2022, Average price of tea in India FY 2022, by category, Retail price of tea India 2021, by major city, Consumption volume of tea in India FY 2015-2022, Total revenue of Hindustan Unilever 2013-2022, Tata Consumer Products' total revenue FY 2015-2022, Total revenue of McLeod Russel FY 2013-2022, Total revenue of Goodricke Group Ltd FY 2013-2022, Italy: ready-to-drink tea sales value 2016-2017, Ready to drink blended tea production volume in Japan 2013-2021, Tea market: value growth in the United Kingdom (UK) 2014, by category, Share of past-day tea consumers in Canada 2009-2020, Preferred time for bubble milk tea on weekdays in Vietnam 2019, by age group, Frequency of purchasing hot beverages for home consumption in France 2017, by type, Preferred time for bubble milk tea on weekends in Vietnam 2019, by age group, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, Tea sales value in the United Kingdom (UK) 2010-2014, Leading factors influencing bubble tea purchase Singapore 2020, Brazil: ready-to-drink tea production volume 2018-2021, Brazil: per capita consumption of ready-to-drink tea 2018-2021, Cost of one cup of bubble tea Singapore 2018, by major brand, Market share of tea and coffee drinks by distribution channel in Spain 2019, Tapioca and substitutes import volume to Japan 2016-2021, Find your information in our database containing over 20,000 reports. to incorporate the statistic into your presentation at any time. While consumers in Singapore are more health conscious, its not the same across other markets, it added. 13. The pandemic served as a natural selection process as many stores shut down. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. A. Learn more about how Statista can support your business. Your email address will not be published. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Which of the following factors are important to you for this most recent trip? SINGAPORE From bubble tea shops to cake shops - these standalone food & beverage businesses considered as less critical will be not allowed to open from Tuesday 2359 hrs as part of stricter. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. Aqilah still drinks the occasional bubble tea. Vietnam is ranked third with US$362 million, with Singapore fourth atUS$342 million. Nonetheless, the tapioca balls are hard for elderly people to digest and can cause indigestion. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. The market research report includes quantitative and qualitative insights into the market. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. In Malaysia, Columbia Asia dietitian, Kong Woan Fei told local media that depending on the sugar used, one cup of bubble tea can contain at least 370 calories. Please create an employee account to be able to mark statistics as favorites. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. The bubble originally referred to the froth created by shaking the drink, though now it is also understood as referring to the pearls that are added. Show publisher information Another draw is the foamed tea. Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country. According to a recent study, the bubble tea industry is expected to grow by almost $2 billion to a whopping $4.3 billion by 2027. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. A. Are you interested in testing our business solutions? Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. You only have access to basic statistics. And if youre looking for all the facts and figures that back up our claim, you have this blog post. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). At this point in time, bubble tea was served in a cocktail glass,3 and customers drank the beverage sitting down in cafes or bubble tea huts.4 Bubble Tea Garden, in particular, served flavours such as Pearl Red Bubble Tea, Yam Shake, Honey Egg Yolk, Whisky Red Tea and Honey Peppermint.5 It attracted many students, largely Chinese-speaking and who came in groups, partly because it had a message board for customers to express their thoughts and communicate with one another.6Food fadAlthough bubble tea was well received, notably among the youth, when it was first introduced, it was only in 2001 that it became phenomenally popular. 9. "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. How much is the global bubble tea market worth? Dr Emily Ortega, head of the Psychology Programme at the Singapore University of Social Sciences, said that bubble tea is "very much a social experience for many people". It is already known that sugary drinks contribute to weight gain, obesity and other diseases such as diabetes, heart disease, stroke and cancer. Previously, tea was usually served hot, so it was considered a novel idea to cool the tea with ice and mix it with various ingredients. The Tea segment in Singapore is projected to grow by 2.16% (2023-2025) resulting in a market volume of US$807.70m in 2025. . This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. 5. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. under and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. There is also a wide selection of items that can be added to the tea; for instance, pearls, pudding and jelly. There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. Followed by Asia Pacific, the North America bubble tea market share emerged to be the second-largest and is likely to maintain its position throughout the forecast period. The ideal entry-level account for individual users. As soon as this statistic is updated, you will immediately be notified via e-mail. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. You need at least a Starter Account to use this feature. These pearls, that looks like dark bubbles, give the tea its name. Far from game over: From boom to bust to boom again, bubble tea is back The Straits Times, p. 73. The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Retrieved from http://chunshuitang.com.tw/3. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Contact us, Last week, it was announced that Singapore will soon require food and beverage outlets to, Nutrition labels for drinks high in sugar, saturated fat to be rolled out in practical manner: MOH, HPB, Nutrition labels required by end 2023 for freshly prepared drinks that are higher in sugar, fat content. Nielsen. In, Nielsen. Chun Shui Tang. The Straits Times, p. 10. Some of the most popular fruit flavors include strawberry, blueberry, green apple, pineapple, passion fruit, mango, lemon, watermelon, grape, peach, cantaloupe, banana, and kiwi among others. Chan, H. J., & Lee, D. (2013, May 28). In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Nigeria, specifically, has become a hub for cassava production. A. This can be attributed to change in preference of consumers toward healthy beverages and better taste. Are you interested in testing our business solutions? If you are an admin, please authenticate by logging in again. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. Bubble tea is known for its sweet taste. (2002, January 13). Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. Sometimes they are blended with ice to give them a more slushy-like consistency. Thank you for requesting a call back, our sales representative will get in touch with you shortly! A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. Tea - Singapore | Statista Market Forecast To give some history, bubble tea which originated in Taichung, Taiwan was first introduced to Singapore in 1992. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. A. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Bubble tea is a popular drink among Singaporeans, and consists of a sweet flavored tea base and tapioca pearls, or "bubbles". ", Nielsen, Important factors when considering a bubble tea purchase in Singapore in 2020 Statista, https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/ (last visited May 01, 2023), Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph], Nielsen, February 11, 2020. To get the sample of bubble tea market report, click on the link (Please paste the link here). In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. The Straits Times, p. 10. However, the drinks popularity also contributed to its downfall. It is not intended to be an exhaustive or complete history of the subject. Junction. Bubble Tea Popularity Statistics Singapore - Coub When we say that bubble tea is insanely popular, were not joking. The growing bubble tea market has also made brands focus on unique concepts in terms of toppings and flavour combinations to pique consumer interest and to stand out from the crowd. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. hief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. There has been speculation linking tapioca balls to cancer, though most claims have been refuted following extended research. Aqilah, a consumer in Malaysia, used to buy bubble tea at least twice a week. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. You need a Statista Account for unlimited access. Bubble tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit flavored, black tea-based milk tea, and green jasmine, across the globe.
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