However, the study found that despite the high margins, few bubble tea stores are profitable. As soon as this statistic is updated, you will immediately be notified via e-mail. Need to talk to an expert? Such challenges cumulatively hamper the growth potential of the global market. You need at least a Starter Account to use this feature. This statistic is not included in your account. Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. On Deliveroo, bubble tea is the most popular item in its beverage category, with users ordering 385,000 cups in 2018. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. A. Survey: Millennials, Gen Z Big Fans of Bubble Tea By continuing to visit this site you agree to our use of cookies . (AFP Photo). These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Bubble Tea Popularity Statistics Singapore - Coub Are you interested in testing our business solutions? (February 11, 2020). The data offered to us was exactly what we were looking for. Bubble tea drinks are designed to appeal to younger consumers as a way for brands to be part of viral food trends. 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. Thailands consumers take top spot for consuming six cups of bubble tea per person per month, followed by the Philippines with an average of five cups. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. We use cookies to enhance your experience. Southeast Asia's bubble tea craze | The ASEAN Post Show publisher information The Straits Times, p. 30. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country. Pandemic disrupted the entire world and affected many industries. Lin Hsiu Hui created the first bubble tea in Chun Shui Tang, a tea shop i | Since its early beginnings in the 1980s, the trend of bubble tea has spread from Asia to America and Europe, and new companies are continually joining the bubble tea revolution. Far from game over: From boom to bust to boom again, bubble tea is back However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. What is the major restraint for the global market? However, bubble tea has hidden ingredients such as sugar, sweeteners and artificial flavourings. 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. Which of the following factors are important to you for this most recent trip? 2. A global addiction. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. To get the sample of bubble tea market report, click on the link (Please paste the link here). As a result, bubble tea had lost its popularity by 2003 and many shops folded.ResurgenceNevertheless, bubble tea did not completely disappeared from Singapores food scene. The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. There are 250 different flavors of bubble tea. It comes with the additional cost of $2500.00 contact sales. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. With 250 different flavors, it makes sense that there would be different bases to the teas. 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. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. 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. Bubble Tea Market Size, Share, Growth, Sales | Forecast, 2027 Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. The Straits Times, p. 4. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. Subject Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. The report was very accurate and as per my requirements. Low, F., & Lee, H. M.(2011, March 27). Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. With globalization, new trends have started striking the food service market, thereby influencing the young generation to try new beverages. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. But did you know that there are six different types of bubble tea? 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 . A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. Get detailed COVID-19 impact analysis on the Bubble Tea Market. Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Whats your favorite bubble tea base to start with? This file photo shows a group of girls drinking bubble tea. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. Malina Malkani, a media spokesperson for the Academy of Nutrition and Dietetics in the United States (US) said that bubble tea is a high-calorie drink with little source of protein or fibre. Bubble tea is 25 years old in S'pore - Mothership.SG February 11, 2020. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. Bubble Tea Market Sale, Share, Size, Growth & Forecast -2032 Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. In the next five years, the bubble tea industry is expected to grow by nearly 54%. 9. statistic alerts) please log in with your personal account. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. A. Profit from the additional features of your individual account. South America is anticipated to grow in terms of sales volume of the products in the coming years. The forecast period in the global bubble tea market report is 2019-2027. (1993, September 24). Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. Chun Shui Tang. The bubble tea industry is expected to reach $3.39 billion by 2027. We dont recommend anyone making it a daily indulgence. Bubble tea can be found in over 30 countries. The increase in bubble tea shops led to intense competition and price wars.9 Slashed prices, one-for-one offers and even lucky draw promotions were used to entice customers. 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. Retrieved from http://chunshuitang.com.tw/3. Trending is a good marketing strategy. The Best Bubble Tea Brands In Singapore The added sugar in the cooking process can ramp up the balls to an estimate of 160 calories per quarter-cup serving. Learn more about how Statista can support your business. Hoe, P. S. (2013, May 27). Bubble tea was introduced to Singapore in 1992. . The largest market in the region is Indonesia, with an estimated US$1.6 billion annual turnover. A. Please contact the Library for further reading materials on the topic. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. (1993, September 24). 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. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year.
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