Bubble tea, also known as boba tea, is a popular drink that has been around for decades. It is a tea-based drink that is typically served with tapioca pearls, or “boba”, at the bottom. In recent years, bubble tea has become increasingly popular, with people of all ages enjoying the unique flavor and texture of the drink. In this blog post, we will explore some interesting statistics about bubble tea consumption, including who drinks it, how often, and where it is most popular.
We will also discuss the potential health benefits of drinking bubble tea and the environmental impact of its production. Finally, we will look at some of the most popular bubble tea flavors and brands. So, let’s dive in and explore the fascinating world of bubble tea.
Bubble Tea Popularity: Important Statistics
Bubble Tea Popularity: Statistics Overview
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%.
This shows the increasing popularity of bubble tea and the potential for further growth in the market. It also shows that the bubble tea trend is spreading to other western countries, such as Canada and the UK, which could lead to further growth in the bubble tea market.
This is important for businesses that are looking to capitalize on the growing trend of bubble tea consumption.
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%.
The bubble tea market is growing rapidly, and that black tea is the most popular type of bubble tea. This is important information for businesses that are looking to capitalize on the growing popularity of bubble tea, as they can focus their efforts on the black tea segment.
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.
Consumers are becoming more health conscious and are looking for healthier alternatives to traditional bubble tea, which is typically made with black or green tea.
This shift in consumer preference could have a significant impact on the bubble tea market, as more people may opt for healthier options.
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.
This shows the preference of consumers for different types of tea, and can help inform decisions about which types of tea to produce and market.
94% of 20-29-year-olds bought boba tea in the last three months, according to a CLSA survey.
This shows that boba tea is becoming increasingly popular among younger consumers, and that the beverage industry is seeing an increase in demand for specialty beverages.
This indicates that boba tea is a growing niche in the specialty beverage segment and that it is becoming more popular among younger consumers.
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.
Gen Z is driving the demand for Bubble Tea Milk, which is an important indicator for businesses looking to capitalize on the trend.
It also shows that there is an ever-growing demand for Bubble Tea Milk from the youth, which can be used to inform marketing and product development strategies.
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.
This highlights the importance of Asia Pacific in the bubble tea market and the potential for growth in the region. It also shows the influence of Taiwanese culture on the global bubble tea market and how it has helped Asia Pacific to become the dominant region in this market.
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%.
This shows the potential for growth in the bubble tea market in the Asia Pacific region, as well as the potential for growth in other regions such as North America.
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.
This highlights the impact of the Covid-19 pandemic on the tea industry, which has caused a disruption in the supply chain and a decrease in demand for bubble tea. This has resulted in a decrease in the growth of bubble tea consumption, which has implications for the industry.
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.
It could lead to a decrease in the availability of bubble tea, which has seen a surge in popularity in recent years. This could lead to a decrease in bubble tea consumption, which could have an impact on the industry as a whole.
Conclusion
In conclusion, bubble tea consumption has been steadily increasing over the past few years, with the majority of bubble tea drinkers being young adults. This trend is likely to continue as bubble tea becomes more popular and accessible.
With the variety of flavors and toppings available, bubble tea is a tasty and refreshing beverage that can be enjoyed by people of all ages.
References
1 – https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
2 – https://www.alliedmarketresearch.com/bubble-tea-market
3 – https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
4 – https://www.alliedmarketresearch.com/bubble-tea-market
5 – https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/
6 – https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
7 – https://www.globenewswire.com/news-release/2020/05/21/2037203/0/en/Bubble-Tea-Market-Analysis-Growth-Trends-Report-Forecast-2026-Fortune-Business-Insights.html
8 – https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
9 – https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
10 – https://www.nytimes.com/2021/04/16/business/boba-shortage.html
