Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Retrieved from NewspaperSG.8. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. Ho, M., & Boey, D. (2001, June 29). According to the Indian Tea Association 2020, tea price has risen by 25%-40% on average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. However, consumers love for bubble tea wont change anytime soon, but they will vote for their favourite brands with their wallets.. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Thank you for requesting a call back, our sales representative will get in touch with you shortly! The Great Singapore Bubble Tea Mania | campus.sg Malaysia, Singapore, Vietnam and Indonesia consume three cups per person per month. Plasticisers are discovered in two Taiwanese fruit juice brands, resulting in suspension of the brands.2013: Maleic acid found in Taiwanese starch products, affecting the pearl supplies of certain bubble tea chains.AuthorJan YapReferences1. On Deliveroo, bubble tea is the most popular item in its beverage category, with users ordering 385,000 cups in 2018. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. The Best Bubble Tea Brands In Singapore Photo by: Kenneth Goh The best bubble tea in Singapore Southeast Asia spent more than $5 billion on BBT last year Written by Kylie Wong & Pailin. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. To give some history, bubble tea which originated in Taichung, Taiwan was first introduced to Singapore in 1992. 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). 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. Bubble Tea Market Demand to Surge with Rising Popularity of Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country. "The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent," the release said. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. However, it added that the supply chain for bubble tea stores can be more challenging than e-commerce due to the high demand for the freshness of raw materials. statistic alerts) please log in with your personal account. (1993, September 24). 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. Please do not hesitate to contact me. Chun Shui Tang. A global addiction. Furthermore, there has been an increase in boba stores in the U.S. and Canada, owing to the shift in consumer preferences toward no and low-alcohol beverages, which has further contributed to the market growth. 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. What may surprise you though is the amount of sugar! Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. These measures are part of efforts to help consumers to make more informed, healthier choices,Health Minister Ong Ye Kung said. 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. In, DBS Group Research. 1. Customers also decide based on the product selection at stores, as well as the ease of access which means the number of stores a brand has, it said. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. However, it was only in 2001 that bubble tea became phenomenally popular. Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. Tapioca balls or "pearls" are often added to the concoction as well. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. The appearance of the finished drink is what led to its name. Get detailed COVID-19 impact analysis on the Bubble Tea Market. As soon as this statistic is updated, you will immediately be notified via e-mail. 12. A. Chart. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. 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. A. Which of the following factors are important to you for this most recent trip? 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. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore A. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Hawker centres too began to sell bubble tea, with some small start-ups even operating from shops selling items such as cakes and shoes. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. "Yet, few players have managed continuous profitability at a large scale." It cited. However, the drinks popularity also contributed to its downfall. But did you know that there are six different types of bubble tea? Consuming Singapore: The obsession with bubble tea In the United States, 95% of women have tried bubble tea versus 81% of males. To continue, upgrade to a supported browser or, for the finest experience, download the mobile app. 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. The data offered to us was exactly what we were looking for. Aqilah still drinks the occasional bubble tea. Bubble tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. Hoe, P. S. (2013, May 27). The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. The Straits Times, p. 8. Need to talk to an expert? Thanks for sticking with me in this huge post. The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. 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. Global Opportunity Analysis and Industry Forecast, 20202027. Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. 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. The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Retrieved from NewspaperSG.11. 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. Jointly conducted by venture outfit Momentum Works and digital payments solution firm qlub, the report also found thatthe average price of bubble tea in Singapore is double that of other countries in the region. Bubble tea also contains high sugar content, according to a study conducted by students at the Applied Food Science and Nutrition diploma course at the Temasek Polytechnic in Singapore. 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 consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. 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. Whats your favorite bubble tea base to start with? The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. 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. For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and such similar drinks, owing to the ever-growing demand from youth. ", 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. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. In addition, the companies are focusing on the growing incidences of lactose intolerance, and thus are working toward introducing lactose-free bubble milk tea options for individuals. Your email address will not be published. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. The bubble tea market in China is estimated to have an annual turnover of US$20 billion, saturating and hyper competitive.. As a Premium user you get access to the detailed source references and background information about this statistic. The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. Get full access to all features within our Business Solutions. It also offers a detailed analysis of the market size and growth rate for all possible market segments. The beverage is now considered a mainstay due to its unique formulation. The Straits Times, p. 78. Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. Number of bubble tea outlets in Singapore in 2019, by. You only have access to basic statistics. 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. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. 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. The bubbles are made from tapioca and have high carbohydrate content. Please contact the Library for further reading materials on the topic. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. 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. Mediacorp Pte Ltd. All rights reserved. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. "Number of bubble tea outlets in Singapore in 2019, by brand." The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. The drink became popular during the 1990s, just in time for millennials to develop a taste for it. 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 market is expected to grow at a CAGR of 7.51%, during the forecast period. *Taxes/Fees, if applicable will be added during checkout. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. 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". This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! Are you interested in testing our business solutions? Bubbling over. These drinks are mixed only after an order has been made and are then machine-sealed in a clear plastic cup.1OriginBubble tea originates from Taichung, Taiwan. One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. This beverage has undergone a few waves of popularity in Singapore. This file photo shows a group of girls drinking bubble tea. To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. With 250 different flavors, it makes sense that there would be different bases to the teas. (Photo: iStock). Thank you for contacting us, our sales representative will get in touch with you shortly! In Singapore, there has been renewed hype in bubble tea in the past year, spurred by the entrance of well-known global franchises, and local entrepreneurs stepping up to give those brands a run for their money. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . Are you interested in testing our business solutions? Extruding the tapioca into these small balls is difficult work. Sweeter than soda? "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. 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. A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. The hidden sugars in bubble tea, Confessions of a bubble tea addict: Not good for me, but it's been good to me. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. Southeast Asia's bubble tea craze | The ASEAN Post Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Looking forward to work together in the future, It has been a delightful experience working with you guys. In 1987, a staff member had the idea of adding. Your email address will not be published. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. 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. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Durai, J., & Poon, C. H. (2011, June 4). The increase in bubble tea shops led to intense competition and price wars. The number of bubble tea shops grew to at least 5,000 by 2002. 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. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. It comes with the additional cost of $2500.00 contact sales. The Straits Times, p. 10. The Straits Times, p. 10. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. COVID-19: Bubble tea shops, other less critical F&B businesses to close For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving boba tea across the country. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. 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. Retrieved from NewspaperSG.6. Register in seconds and access exclusive features. Bubble Tea Market Size, Share, Growth | Industry Trends [2030] Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. In. The ideal entry-level account for individual users. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. Save my name and email in this browser for the next time I comment. (1993, September 24). Single User License, Five User License & Enterprise User License. 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. A paid subscription is required for full access. 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. Furthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. The current valuation of the market is US$ 2.50 billion in 2022. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. 4. Retrieved from NewspaperSG.4. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. Consumer Shift toward Healthy Alternatives to Favor Growth. But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. February 11, 2020. 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. 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. Lek, E. (2007, August 20). It looks quite comprehensive and the data is exactly what I was looking for. Bubble tea is known for its sweet taste. Bubble tea everything: The latest bubble tea trends in the market Tapioca balls or pearls are often added to the concoction as well. According to the bubble tea market share, based onflavor, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market, in 2019.
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