The ever increasing demand for beverages from across the world is positively affecting the global bubble tea market, according to Fortune Business insights in one of its recent reports.
The bubble tea industry is currently valued at USD1.89B. Predictably, by 2026, it's going to reach USD 3.49 Billion, with an exhibited CAGR of 8.09%.
Segmented into type, the global bubble tea market has green tea, black tea, oolong tea. Black tea is predicted to take over the bubble tea market because of the constant increase in the number of health-conscious bubble tea lovers from all over the world.
The rising demand for organic products will boost the growth of black tea in a few years to come.
The report gave a cumulative and descriptive insight into this beverage industry. It also gave a detailed analysis of the bubble tea industry concerning growth rate and market size for each segment.
Huge Demand For Beverages Will Boost Bubble Tea Industry Growth
The rise in consumption of beverages like tea and coffee all over the world has propelled the growth of the bubble tea market. Various names are associated with bubble tea including, boba juice, boba tea, bubble milk tea, Pearl milk tea, or the simplified bubble tea. Taiwan-originated tea is very beneficial and possesses several health benefits, making it a fantastic beverage for consumers who take their health seriously.
The low-calorie nature and low-fat content make the drink a highly demandable beverage. Globally, the bubble tea market may witness huge growth in the coming year because of the attributes health benefits of the tea-like being an antioxidant.
Going further, black tea consumption has experienced a surge because of its anti-inflammatory properties. These health benefits will fuel demand among those who live a health-centrical lifestyle, contributing to the market share of the global bubble tea.
Key players will launch new products which will fuel growth
Key players in the bubble tea market are becoming impelled by the increasing consumer demand for the drink. And they are launch different range of flavorful boba tea for their esteemed costumers. For example, Gong Cha recently launched varieties of boba tea or bubble tea flavors including, bla bla bla.
Furthermore, unveiling several bubble tea chains to accommodate the rising demand of customers will increase the global bubble tea revenue.
For example, Gong Cha, one of the best bubble tea manufacturers in the world keeps opening different outlets from across the U.S. Gong Cha prepares its bubble tea using ingredients imported from Taiwan. Its tapioca pearls are prepared in house.
Some other commonly used flavors are jasmine milk bubble tea, passion fruit bubble tea, and black oolong bubble tea.
Gong Cha's High-quality bubble teas are made with natural ingredients. In other words, naturally brewed tea- fresh milk instead of powdered- and boba freshly prepared every day and not yesterday's leftover.
Gong Cha prepares an aesthetically pleasing drink that nods to the company's logo.
The trends and factors together will facilitate the growth of bubble tea market
By Priya Navani
Posted on April 15, 2020