GITNUX MARKETDATA REPORT 2024
Bubble Tea Popularity Statistics [Fresh Research]
With sources from: 1 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, 2 – alliedmarketresearch.com/bubble-tea-market, 3 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, 4 – alliedmarketresearch.com/bubble-tea-market and many more
Sources
In this post, we will explore key statistics related to the growing popularity and market trends of bubble tea. From the estimated market value projections to the impact of different tea segments on consumer preferences, these statistics provide valuable insights into the evolving landscape of the bubble tea industry. Additionally, we will examine factors such as demographic influences, regional market dominance, and external challenges impacting the supply chain of this beloved beverage.
Statistic 1
"The bubble tea market is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80%. The black tea segment accounted for more than half of the share in 2019 and is expected to grow at a CAGR of 7.50%."
Statistic 2
"Gen Z is driving the demand for Bubble Tea Milk, as evidenced by South Asia spending USD 3.7 billion on launching ‘milk tea’ and other similar new drinks in August 2021."
Statistic 3
"The global bubble tea market is projected to grow from $2.29 billion in 2022 to $3.78 billion by 2029, at a CAGR of 7.40%."
Statistic 4
"The bubble tea market is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80%. The black tea segment accounted for more than half of the share in 2019 and is expected to grow at a CAGR of 7.50%."
Statistic 5
"The black tea segment is projected to grow significantly, while the green tea segment is expected to hold a major market share, due to the shift of consumers towards black tea for its health-impacting properties."
Statistic 6
"The black tea segment generated the most revenue in 2019 and is expected to continue this trend, while the green tea segment is expected to grow at the highest CAGR."
Statistic 7
"94% of 20-29-year-olds bought boba tea in the last three months, according to a CLSA survey."
Statistic 8
"Gen Z is driving the demand for Bubble Tea Milk, as evidenced by South Asia spending USD 3.7 billion on launching ‘milk tea’ and other similar new drinks in August 2021."
Statistic 9
"Asia Pacific dominates the bubble tea market with USD 757.60 million in 2018, due to its high consumption of tea and the increasing popularity of bubble tea."
Statistic 10
"The Asia Pacific market holds the largest share of the global bubble tea market, valued at USD 0.90 billion in 2021, and is projected to grow to USD 3.78 billion by 2029 at a CAGR of 7.40%."
Statistic 11
"The tea price has risen by 25%-40% on average due to lockdown in tea growing regions, leading to a decline in the growth of bubble tea consumption due to restrictions on import and export."
Statistic 12
"A shortage of workers due to coronavirus cases and quarantine protocols has caused a monthslong maritime pileup at ports in Los Angeles and San Francisco, leading to a potential shortage of tapioca pearls, a key ingredient in bubble tea."
Interpretation
In conclusion, the statistics presented indicate a positive outlook for the bubble tea market, with strong projected growth in revenue and market share. Gen Z's influence on the demand for bubble tea milk is evident, particularly in the South Asia region. The dominance of the black tea segment and the shift towards black tea for its health properties are driving factors in the market's growth. However, challenges such as rising tea prices and potential shortages of key ingredients due to logistical issues may impact the industry. Overall, the bubble tea market is poised for continued expansion, with Asia Pacific leading the way in consumption and market size.
Jannik Lindner
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The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.
Sources
1 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
2 – alliedmarketresearch.com/bubble-tea-market
3 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
4 – alliedmarketresearch.com/bubble-tea-market
5 – foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/
6 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
7 – globenewswire.com/news-release/2020/05/21/2037203/0/en/Bubble-Tea-Market-Analysis-Growth-Trends-Report-Forecast-2026-Fortune-Business-Insights.html
8 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
9 – fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
nytimes.com/2021/04/16/business/boba-shortage.html
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