GITNUX MARKETDATA REPORT 2024

Bubble Tea Popularity Statistics [Fresh Research]

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%."

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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."

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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%."

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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%."

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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."

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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."

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Statistic 7

"94% of 20-29-year-olds bought boba tea in the last three months, according to a CLSA survey."

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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."

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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."

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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%."

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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."

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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."

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