LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global bubble tea market and the market is poised to grow by USD 963.05 million during 2019-2023, progressing at a CAGR of over 7% during the forecast period. Request Free Sample Pages
Read the 116-page research report with TOC on "Bubble Tea Market Analysis Report by component (flavor, creamer, sweetener, tapioca balls and popping balls, and others) and base ingredient (black tea, green tea, and others) and geography (APAC, the Americas, and EMEA), and Segment Forecasts, 2019 - 2023".
The market is driven by the rise in accessibility and availability through organized retail. In addition, the growing tea café culture is anticipated to further boost the growth of the bubble tea market.
Organized retailers have grown significantly, with the establishment of hypermarkets, supermarkets, and specialty stores such as Walmart in the US and Tesco.com in the UK. Supermarkets are some of the major distribution channels supplying nutritious, convenient, and affordable food and beverage items. Ingredients such as tapioca balls, popping balls, and tea powder required for making bubble tea are predominantly sold by large organized retailers such as Walmart. The growth of the organized retail sector will thus boost the growth of the global bubble tea market during the forecast period.
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Major Five Bubble Tea Market Companies:
Fanale Drinks
Fanale Drinks owns and operates businesses under various segments such as toppings, bubble tea flavoring powder, snow ice/frozen yogurt, and containers. The company’s offerings include CRYSTAL TAPIOCA (AGAR BOBA), EXTRA LARGE TAPIOCA, LARGE TAPIOCA, and REGULAR LARGE TAPIOCA PEARL, under the Tapioca Pearls / Boba segment. It also offers CEYLON BLACK TEA (GROUND), CLASSIC COFFEE BLACK TEA, EARL GREY TEA BAG (GROUND), and GENMAICHA GREEN TEA under its tea leaves product segment.
Fokus
Fokus owns and operates businesses under various segments such as concentrated juice, premium tea, jelly, and others. The company’s offerings include Popping boba and Premium Tea.
GRAND CHAINLY
GRAND CHAINLY has business operations under various segments, namely bubble tea toppings, tea & flavorings, store equipment and machine supplies, and drinking cups & packaging containers. This company's offerings include tea leaves and tapioca pearls and balls supplies.
HUEY-YUHE ENTERPRISE
HUEY-YUHE ENTERPRISE has business operations under various segments, namely products and services. The company offerings include beverage materials and jelly & popball.
Lollicup USA
Lollicup USA has business operations under various segments, namely karat, karat earth, tea zone, and total clean. The company offerings include BOBA (TAPIOCA), POPPING PEARLS, and TEA LEAVES.
Technavio has segmented the bubble tea market based on the product and region.
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Bubble Tea Base Ingredients Outlook (Revenue, USD Million, 2019 - 2023)
- Black tea
- Green tea
- Others
Bubble Tea Regional Outlook (Revenue, USD Million, 2019 - 2023)
- Americas
- APAC
- EMEA
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