NEW YORK, April 18, 2022 (GLOBE NEWSWIRE) -- As per detailed industry analysis by Persistence Market Research, the global bubble tea is slated to surge ahead at a CAGR of 8.3% to reach US$ 3.23 Bn by the end of 2032.
Influencers and bloggers have been helpful in reawakening consumer interest in the bubble tea trend. Bubble tea sales are influenced by the speed at which information goes about, its promotion, and brand visibility. Brands are seeking new strategies that can be used to create an engaging experience, especially since bubble tea is a beverage that can be made with a variety of appeals, flavors, and textures.
Some ingredients are perceived as more prevalent than others in society because they engage more of the senses. The colors of turmeric, matcha, and activated charcoal, for example, draw the attention of customers toward their health benefits
Social media influences one out of every five consumers in China and India to buy food & beverages. In Malaysia and Indonesia, social media influences 58% of consumers' purchasing decisions. For business owners, social media is critical in contacting customers across demographics and determining how to expand appropriately.
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At the same time, it's important to remember that, social media can be a dangerous ground to rely on when building a brand. Online news, criticisms, and reviews can spread quickly. As a result, it's critical to ensure that each post is thoughtfully prepared and that the messaging is always relevant to the business. Bubble tea franchises are owned and operated by young, well-educated, social media-savvy entrepreneurs looking for new business prospects.
Key Takeaways from Market Study
- The market for bubble tea is expected to expand at volume CAGRs of 9.3% and 8.6% in South Asia and East Asia, respectively, through 2032.
- On the basis of base ingredient, black tea holds an approximate volume share of 38.6% in 2022.
- Global consumption of bubble tea is estimated to reach 475,501 tons by the end of 2032.
- Based on flavor, demand for flavored bubble tea in Latin America is expected to be valued US$ 83.6 Mn in 2022.
- On the basis of distribution channel, the business to consumer segment is anticipated to expand at a volume CAGR of 7.4% to reach 13,997 tons by 2032
- Value of the bubble tea market in North America is currently US$ 307.1 Mn.
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“Key manufacturers of bubble tea would be able to gain considerable profits by installing vending machines and kiosks, along with focusing on establishing cafes worldwide to provide new, innovative flavors," says a Persistence Market Research analyst.
Competitive Landscape
Manufacturers of bubble tea are majorly focusing on product development and are also emphasizing offering certified products through quality system control in order to increase their brand value.
- Chill Bubble Tea provides bubble tea that is kosher, halal, gluten-free, and gelatin-free. It also provides tea for vegan and lactose-free customers.
- Frothtea Bubble Tea acquired Singapore Food Agency Certification adhering to strict food hygiene practices and guidelines. It is also affiliated with Halal Certification for its raw materials.
- TACHUNGHO has international certifications such as ISO 9001, ISO 22000, HACCP, and HALAL, as well as significant quality system certifications and major agency safety certificates.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global bubble tea market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on base ingredient (black tea, green tea, oolong tea, and white tea), flavor (unflavoured and flavored), format (ready-to-drink and instant mix kits), topping (tapioca pearls, popping boba, jellies, and others), and distribution channel (business to business and business to consumer), across six major regions of the world.
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- Tea Market
- White Tea Market
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