Bubble Tea Market Size Worth $4.2 Billion by 2027 | CAGR 8.9%: Grand View Research, Inc.

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Jun 11, 2020, 04:35 ET

SAN FRANCISCO, June 11, 2020 /PRNewswire/ -- The global bubble tea market size is expected to reach USD 4.2 billion by 2027 registering a CAGR of 8.9%, according to a new report by Grand View Research, Inc. Shifting consumer preference from carbonated drinks to zero-fat hot beverages, such as bubble tea, is expected to be the key factor for the market growth.

Asia was the largest regional market in 2019 and accounted for 35% of the global share. The region will retain its dominant position throughout the forecast years on account of high consumption of bubble tea in countries including Taiwan, China, and Thailand. In addition, according to the ASEAN Post, which was published in December 2019, the average consumption of bubble drinks in Thailand was six cups per person per month.

Key suggestions from the report:

Black tea segment held the major share of more than 45% in 2019 and is estimated to expand further at a steady CAGR over the forecast period
Green tea product segment is anticipated to register the fastest CAGR from 2020 to 2027 owing to various health benefits of this beverage
Fruit flavor led the flavor segment in 2019 accounting for the largest market share. It is projected to maintain its leading position throughout the forecast period
Asia Pacific was the largest regional market in 2019 and will grow further at a significant CAGR from 2020 to 2027

Read 80 page research report with ToC on "Bubble Tea Market Size, Share & Trends Analysis Report By Product (Black, Green, Oolong), By Flavor (Classic, Coffee, Fruit), By Region (APAC, North America, Europe, MEA), And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/bubble-tea-market

Major companies in this market are expanding their global presence through various business strategies. For instance, in September 2019, The Alley, a renowned Taiwanese restaurant chain, inaugurated its first restaurant in New York City. Thus, increasing number of restaurant chains specialized in bubble hot beverages is anticipated to boost market growth over the forecast period.

Grand View Research has segmented the global bubble tea market on the basis of product, flavor, and region:

Bubble Tea Product Outlook (Revenue, USD Million, 2016 - 2027)

Black
Green
Oolong
Others

Bubble Tea Flavor Outlook (Revenue, USD Million, 2016 - 2027)

Classic
Fruit
Coffee
Others

Bubble Tea Region Outlook (Revenue, USD Million, 2016 - 2027)

North America

U.S.

Europe

U.K.
Germany
France

Asia Pacific

China
Thailand

Central & South America

Brazil

Middle East & Africa

List of Key Players of Bubble Tea Market

Bobabox Ltd.
Bubble Tea House Company
Fokus, Inc.
Gong Cha
ChaTime
Lollicup USA, Inc.
Bubble Tea Supply, Inc.
T Bun International
Ten Ren's Tea Time
Troika JC.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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