Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. 10. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. T&C*. According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). The growing bubble tea market has also made brands focus on unique concepts in terms of toppings and flavour combinations to pique consumer interest and to stand out from the crowd. You can only download this statistic as a Premium user. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. A. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. Its not just the sugar that gives these drinks their sweetness, though; many restaurants also add sweeteners to them. Please contact the Library for further reading materials on the topic. Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. Bubble tea is 25 years old in S'pore - Mothership.SG In May 2013, it was discovered that the Sunright brand of tapioca balls, as well as other starch products from Taiwan used in bubble tea, contained maleic acid, a substance harmful to the kidneys. Bubble Tea Popularity Statistics Singapore - Coub A file photo showing cups of bubble tea. February 11, 2020. As a Premium user you get access to the detailed source references and background information about this statistic. 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. . Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! ", 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. This file photo shows a group of girls drinking bubble tea. The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. For better delivery of our new release, Please help us undestand your interest Industry and Frequency that you prefer to get the new releases. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. Deconstructed, bubble teas ingredients of tea, milk and brown sugar can make one assume that it is a healthy enough drink. This beverage has undergone a few waves of popularity in Singapore. Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. [ 2023 to 2030 ] Bubble Tea Market Size - MarketWatch 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. The bubble tea industry was valued at $2.2 billion in 2019. 8 New Bubble Tea Launches In Singapore 2022 - GirlStyle Singapore This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. The Straits Times, p. 73. 6. 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. (1992, May 27). But did you know that there are six different types of bubble tea? Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. "Important factors when considering a bubble tea purchase in Singapore in 2020." (1993, September 24). By region, North America was the most prominent regional market in 2019. Strong dependency on Asian countries to source raw materials acts as one of the major restraints in the market. Get full access to all features within our Business Solutions. Teens use tea house notice board to talk to each other, AVA suspends two more Taiwanese juice brands, Unapproved additive found in 11 food products, Pearls dropped by some bubble tea shops. 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. 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. Taiwanese and homegrown brands have long dominated the Southeast Asian bubble tea market, the study found. All rights reserved. Exactly how popular is bubble tea in Singapore? Thank you for requesting a call back, our sales representative will get in touch with you shortly! Health experts highly recommend drinking bubble tea in moderation, and if possible, to opt for the less sweet or low-calorie varieties. Ethnic foods
About | Privacy Policy |Contact | Advertise | Support. Originally created in Taiwan in the 1980s, bubble tea has quickly exploded in popularity. Accessed May 01, 2023. https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, DBS Group Research. 2023 Allied Market Research. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, regulatory scenario in critical countries, and key bubble tea industry trends. The added sugar in the cooking process can ramp up the balls to an estimate of 160 calories per quarter-cup serving. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. 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. An average, medium-sized serving of bubble tea has, on average, 335 calories. Sometimes they are blended with ice to give them a more slushy-like consistency. The data offered to us was exactly what we were looking for. The beverage is now considered a mainstay due to its unique formulation. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. And if you have a sweet tooth, its SO GOOD. Sweeter than soda? This beverage has undergone a few waves of popularity in Singapore. You only have access to basic statistics. statistic alerts) please log in with your personal account. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); We're Soocial, a leading branding agency with a passion for creating memorable names and internationally-renowned brands. Save my name and email in this browser for the next time I comment. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. Extruding the tapioca into these small balls is difficult work. Tapioca balls or "pearls" are often added to the concoction as well. Upgraded but still having issues? Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. Nonetheless, the tapioca balls are hard for elderly people to digest and can cause indigestion. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Show publisher information Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Bubble Tea Market Size, Share, Growth, Sales | Forecast, 2027 The Straits Times, p. 10. 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). 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. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. 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. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! This statistic is not included in your account. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. The bubble tea trend has continued to soar in its originating region, later gaining traction in other western countries, such as Canada and the U.K. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. The Straits Times, p. 30. 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. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Is Running A Bubble Tea Business In S'pore Actually Lucrative? Bubble Tea Market Demand to Surge with Rising Popularity of As soon as this statistic is updated, you will immediately be notified via e-mail. Bubble tea | Infopedia - National Library Board Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. 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. 87% of American millennials drink tea, including bubble tea. Bubble tea can be found on every continent today, except for Antarctica, of course! Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer.