Shibuya-ku, Tokyo, Japan, Japan, Sep 15, 2021, 02:28 /Comserve / -- According to Research Dive analysis, the global bubble tea market is estimated to generate a revenue of $4,552.9 million by 2028, increasing from $2,595.8 million in 2020, at a healthy CAGR of 7.4%.
Impact Analysis of COVID-19 on the Global Bubble Tea Market:
The global bubble tea market experienced a negative impact due to supply chain disruptions leading to delay in the availability of raw materials. In addition, the demand for bubble tea declined rapidly due to closure of shops, cafes, manufacturing units. In addition, the tea leaves which are used as a raw material for preparing black tea, green tea, and others which are used as a base ingredient were destroyed due complete lockdown imposed across various countries. For instance, in India the first flush harvest of tea leaves in major tea producing states such as Assam, Darjeeling were destroyed that led to heavy losses. Also, the livelihood of the small tea producers was affected due to the pandemic. Furthermore, the closure of cafes, factories, farms to maintain social distancing has affected the suppliers demand as well as decline in consumer demand due to limited consumer visits to the cafes and shops. All these factors have led to negative impact on the global bubble tea market.
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Bubble Tea Market Analysis:
The global bubble tea market experienced significant growth due to increase in health awareness population and wide range of benefits offered by the consumption of bubble tea. In addition, there has been decline in the demand for carbonate drinks due to high sugar content that increases the risk of obesity and type 2 diabetes. The bubble tea is instant source of energy that serves as a fuel for your heart muscles and central nervous system. This drink acts as a stress buster as it contains caffeine that refreshes your mind and reduces the tense muscles in our body. The addition of fresh fruits to the bubble tea such as mangoes, lemon, strawberry enhances the immune system as they are rich in vitamin C as well as bubble tea is rich in antioxidants that reduces the accumulation of oxidative stress. Bubble tea is good for your heart due to its anti-inflammatory properties that toughen the walls of blood vessels and prevents the damage to arteries. All these factors are estimated to drive the market demand during the forecast period.
The availability of alternative beverage which is coffee is estimated to restrain the market growth. Coffee is widely consumed beverage with associated health benefits that reduces stress, improves heart health, prevents the risk of heart diseases, and others. Coffee is also rich in antioxidants that boost the energy and enhances the functioning of brain and immune system.
The bubble tea industry is growing rapidly owing to presence of various bubble tea flavors, and low cost of bubble tea compared to coffee such as cappuccino, latte, and others. For instance, some of the fruity bubble tea flavors are mango, lychee, peach, strawberry, banana, grape, coconut, and others. If someone prefers less fruity flavors then they can try barley, coffee, almond, caramel, mocha, sesame, rose, and other flavors. In addition, various toppings such as fresh fruit, red bean, ice cream, cheese cream can be added to enhance the flavor. Furthermore, different types of milk such as fresh milk, soy milk, lactose-free milk, sweetened condensed milk, coconut milk can be added to enhance the taste. The McDonald’s McCafé, the popular beverage chain has more than 250 types of bubble tea across Germany and Austria. All these aspects are estimated to generate huge opportunities for the growth of bubble tea market during the forecast period.
Considering base ingredient, the global market for bubble tea is divided into black tea, green tea, oolong tea, white tea. The black tea sub-segment is projected to have the fastest market growth and generate a revenue of $1,864.8 million by 2028.
Based on flavor, the market is classified into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. The fruit flavor sub-segment garnered $1,586.2 million in 2020 and it is projected to grow exponentially by 2028.
Based on component, the market is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. The liquid sub-segment has acquired a revenue of $930.2 million in 2020 and it is estimated to grow rapidly by 2028.
Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific bubble tea is anticipated to rise at a growth rate of 7.8% by 2028 from the revenue generated in 2020.
The companies involved in the global bubble tea market are Kung Fu Tea, Bobabox Limited, Bubble Tea House Company, Cuppotee, Gong Cha, ShareTea, Sumo's (M) Sdn Bhd, Ten Ren's Tea Time, The Bubble Tea Company, and ViVi Bubble Tea.
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