Currently, you are using a shared account. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. Retrieved from NewspaperSG.11. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. 15 Bubble Tea Stores That Are Leading the Industry Right Now | World According to the study, there are three underlying fundamentals to building a successful bubble tea business. Health-beneficial attributes such as low-fat, low-calorie content, and the presence of anti-inflammatory properties are the key driving factors of the market. Arlina Arshad. The bubbles are made from tapioca and have high carbohydrate content. 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 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. Bubble tea, also known as Boba or Boba tea, is rapidly becoming one of the worlds favorite beverages. However, consumers love for bubble tea wont change anytime soon, but they will vote for their favourite brands with their wallets.. 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. Virtually any flavor that you can imagine exists with bubble tea. These measures are part of efforts to help consumers to make more informed, healthier choices,Health Minister Ong Ye Kung said. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Remarkable job and great efforts by your research team. The Best Bubble Tea Brands In Singapore Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. 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. These drinks are made with milk tea and tapioca pearls (to make the bubbles), which contain a lot of natural sugar. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! Bubble tea originates from Taichung, Taiwan. For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) compared to 2018. However, the drinks popularity also contributed to its downfall. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. 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. Tapioca balls or "pearls" are often added to the concoction as well. 14. Retrieved from NewspaperSG.12. Bubble Tea Popularity Statistics Singapore - Coub According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. The Straits Times, p. 73. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. In. One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. 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. Thank you for requesting a call back, our sales representative will get in touch with you shortly! 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. (2001, August 31). Bubbly and book fun. It looks quite comprehensive and the data is exactly what I was looking for. 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. Your email address will not be published. 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. Modern Asian Desserts expanded its business in the country by introducing various boba milk tea outlets. As a Premium user you get access to the detailed source references and background information about this statistic. 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. Whats your favorite bubble tea base to start with? In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Chan, H. J., & Lee, D. (2013, May 28). In the next five years, the bubble tea industry is expected to grow by nearly 54%. This is a very good piece of work and will be very helpful to us going forward. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore 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. In, Nielsen. Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . 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. The Straits Times, p. 3. Teens use tea house notice board to talk to each other. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. Sweeter than soda? The drink became popular during the 1990s, just in time for millennials to develop a taste for it. The beverage is now considered a mainstay due to its unique formulation. (2002, January 13). 16 Bubble Tea Statistics to Calm Your Cravings - Soocial Both the Jiajia Milk Tea and Jiajia Boba have a refreshing combination of rich . 11. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. New bubbly a hit with youth here. 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. Momentum Works founder and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! Fruit Flavor Segment is Dominating Backed by High Consumer Preference. While consumers in Singapore are more health conscious, its not the same across other markets, it added. All rights reserved. Bubble tea orders in Southeast Asia recorded a . Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. The largest market in the region is Indonesia, with an estimated US$1.6 billion annual turnover. Bubbling over. 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. (Photo: iStock). While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. This segment is expected to grow significantly throughout the forecast period due to its high nutritional value as compared to other flavors, the high popularity of tea-based fruity beverages, and high consumer preference. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. Brands, such as Koi The Co, Moge Tee, and M.A.D. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Chart. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. Countries such as Vietnam and Taiwan are projected to have the largest sales. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. Trending is a good marketing strategy. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. As a Premium user you get access to background information and details about the release of this statistic. DBS Group Research. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. . Bubble Tea Popularity Statistics Singapore - Emkan.me 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. In 2018, there were over 450,000 shops selling bubble tea in China. Tapioca balls or pearls are often added to the concoction as well. This service is not intended for persons residing in the E.U. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Retrieved from NewspaperSG.15. "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. By continuing to visit this site you agree to our use of cookies . Gong Cha, for instance, was founded in 2006 in Taiwan. Bubble tea is known for its sweet taste. Hawker centres too began to sell bubble tea, with some small start-ups even operating from shops selling items such as cakes and shoes. Right on cue, eight bubble tea establishments in Singapore have launched new drinks. The global bubble teamarket holds a substantial scope for growthduring the forecast period. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. Retrieved from NewspaperSG.6. For one, there are all of the sweet flavors and fun combinations of ingredients you can get. #1 HEYTEA Golden Osmanthus Oolong ($7.50) Photo from HEYTEA. Tea - Singapore | Statista Market Forecast Countries in North America are gradually increasing the consumption of this tea owing to the growing popularity of tea-based drinks. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Book your free consultation and let our research experts help you with your needs/problems. If you are an admin, please authenticate by logging in again. Art & Craft. Please do not hesitate to contact me. Survey: Millennials, Gen Z Big Fans of Bubble Tea Young people between ages 20 and 29 are interested in bubble tea. October 22, 2019. 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. Such initiatives further support the immense growth opportunities for the companies.