bubble tea popularity statistics singapore


For one, there are all of the sweet flavors and fun combinations of ingredients you can get. Momentum Works founder and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. It looks quite comprehensive and the data is exactly what I was looking for. A. [Online]. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. Accessed May 01, 2023. https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/, Nielsen. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. Bubble tea, first introduced in Taiwan in the 1980s has done on to become a global phenomenon made popular by Internet foodies. Retrieved from NewspaperSG.6. Bubble tea was introduced to Singapore in 1992. . 9. A global addiction. Currently, the major bubble tea chains are Koi and Gong Cha. Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. This includes building a decent flagship product to get initial traction, achieving single-store profitability and scaling the model while maintaining the positive unit economics. In, Nielsen. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. Upgraded but still having issues? Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. Stay abreast of your interest areas. In April 2020, Bubble Tea Supply Inc. launched its first bubble tea with a range of flavors including traditional milk, green apple, mango, lychee, and honeydew accompanied with over 14 toppings. However, consumers love for bubble tea wont change anytime soon, but they will vote for their favourite brands with their wallets.. Bubble tea can be found on every continent today, except for Antarctica, of course! In Singapore, there has been renewed hype in bubble tea in the past year, spurred by the entrance of well-known global franchises, and local entrepreneurs stepping up to give those brands a run for their money. When you look at the marketing for bubble tea, the numbers make sense. Aqilah, a consumer in Malaysia, used to buy bubble tea at least twice a week. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. The Straits Times, p. 4. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. At what CAGR is the bubble tea market projected to grow in the forecast period (2023-2030)? I believe its because of the level of sugar [in the drink], she said. Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. According to the CXOs, Europe is projected to register significant growth as compared to Asia-Pacific and North America due to rapid urbanization, rise in consumption of healthy beverages, and low price of bubble tea. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. Teens use tea house notice board to talk to each other. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. Brands are also providing more health-conscious options to cater to customers, through customisable sugar levels and healthier" alternatives like brewed fresh fruit tea. 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). According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. Accessed May 01, 2023. https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, DBS Group Research. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Trending is a good marketing strategy. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. Chan, H. J., & Lee, D. (2013, May 28). (1993, September 24). If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. Which is the leading segment based on the product type in the market? 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. You need a Statista Account for unlimited access. The Straits Times, p. 73. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. The Tea segment in Singapore is projected to grow by 2.16% (2023-2025) resulting in a market volume of US$807.70m in 2025. . Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. The number of bubble tea shops grew to at least 5,000 by 2002. Vietnam is ranked third with US$362 million, with Singapore fourth atUS$342 million. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. This can be attributed to change in preference of consumers toward healthy beverages and better taste. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. As soon as this statistic is updated, you will immediately be notified via e-mail. Both the Jiajia Milk Tea and Jiajia Boba have a refreshing combination of rich . Retrieved from NewspaperSG.7. According to the bubble tea market analysis, based on base ingredient,the black tea segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. Bubble tea fad makes comeback. 12. Furthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. Strong dependency on Asian countries to source raw materials acts as one of the major restraints in the market. Arlina Arshad. Moreover, countries such as Japan, China, the U.S., and Canada are the major consumers of pearl milk tea and have also experienced a slight dip in their growth due to hindrances in production as well as supply chains during the year 2020-21. The Straits Times, p. 78. According to the study, there are three underlying fundamentals to building a successful bubble tea business. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. How much is the global bubble tea market worth? 1. Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Asia Pacific Bubble Tea Market Size, 2022 (USD Billion), To get more information on the regional analysis of this market, Request a Free sample. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore Save my name and email in this browser for the next time I comment. Boba tea is creating a buzz among individuals worldwide, owing to its growing appeal and novelty. 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. Are you interested in testing our business solutions? Business Solutions including all features. It cited Nayuki, the first new tea brand to go public, whose market cap plunged by more than 70 per cent since it listed on the Hong Kong stock exchange. This was attributed due to rise in the consumption of tea based everages across the world. Bubble tea got its name from the tapioca balls because when theyre added to the drink and shaken, the balls expand and pop, creating a popping soundor bubbling.. It also offers a detailed analysis of the market size and growth rate for all possible market segments. Liu Han-Chieh, owner of tea house Chun Shui Tang, claims to have invented the beverage in 1983 after being inspired by seeing coffee served cold in Japan. Countries such as Vietnam and Taiwan are projected to have the largest sales. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups for all flavored beverages and rise in awareness of health benefits of chocolate among consumers. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. Consumers are shifting toward natural and organic food and beverage products, which is one of the major factors that would help in the growth of this segment in the market. According to research firm Allied Market Research, the global bubble tea market will jump from US$1.96 billion in 2016 to reach US$3.21 billion by 2023. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. The boba (bubble) alone is 150 calories. The high carbohydrate content of the bubbles can lead to an unhealthy diet. The current valuation of the market is US$ 2.50 billion in 2022. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. In the next five years, the bubble tea industry is expected to grow by nearly 54%. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. A paid subscription is required for full access. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. Chart. New bubbly a hit with youth here. Are you interested in testing our business solutions? The report segments the global bubble tea market based on base ingredient, flavors, component, and region. The bubbles are made from tapioca and have high carbohydrate content. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. The Asia Pacific market held the largest share and was valued at USD 0.96 billion in 2022. But did you know that there are six different types of bubble tea? Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Thanks for sticking with me in this huge post. 87% of American millennials drink tea, including bubble tea. The Straits Times, p. 73. Storm in a bubble-tea cup. The market research report includes quantitative and qualitative insights into the market. Bubble tea is extremely high in calories. 16. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. A. Required fields are marked *. For those looking to cut back on sugar, bubble tea may not be the best choice. However, Europeis expected to grow with the highest CAGR throughout the forecast period, owing toaggressive advertising and celebrity brand endorsement and increasein the awareness of bubble tea in theregion. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. If you have an adventurous palette, we highly recommend trying as many different flavors as you can to find the one that will be your favorite! Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. By region, North America was the most prominent regional market in 2019. Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. All rights reserved. In 1987, a staff member had the idea of adding fen yuan (sweetened tapioca pudding) to her tea, resulting in the creation of the bubble tea pearl.2Introduction in SingaporeBubble tea was introduced to Singapore in 1992. 10. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. About | Privacy Policy |Contact | Advertise | Support. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. Bubble tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit flavored, black tea-based milk tea, and green jasmine, across the globe. "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. Tapioca balls or "pearls" are often added to the concoction as well. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! The availability of different types of milk tea offers numerous options for consumers to enjoy. (2002, January 13). By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. The Straits Times, p. 8. A. The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. In the United States, 95% of women have tried bubble tea versus 81% of males. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. "The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent," the release said. Hoe, P. S. (2013, May 27). The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fuel market growth. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. In, DBS Group Research. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. 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. For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and such similar drinks, owing to the ever-growing demand from youth. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Girls and women are the primary demographic among bubble tea drinkers, with 95% having tried it. Available: https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, Number of bubble tea outlets in Singapore in 2019, by brand, Available to download in PNG, PDF, XLS format, Leading black tea exporters worldwide 2021, Area harvested for tea in India 2010-2020, Production of tea in north India FY 2014-2022, Production volume of tea in south India FY 2014-2022, Production of tea in India FY 2021, by category, Tea production volume in India FY 2022, by grower size, Export value of tea and coffee from India FY 2011-2022, Indian tea exports value FY 2022, by destination country, Indian tea exports volume FY 2022, by destination country, Import value of tea in India FY 2014-2022, Import volume of tea into India FY 2014-2022, Wholesale Price Index of tea in India FY 2012-2022, Average price of tea in India FY 2022, by category, Retail price of tea India 2021, by major city, Consumption volume of tea in India FY 2015-2022, Total revenue of Hindustan Unilever 2013-2022, Tata Consumer Products' total revenue FY 2015-2022, Total revenue of McLeod Russel FY 2013-2022, Total revenue of Goodricke Group Ltd FY 2013-2022, Italy: ready-to-drink tea sales value 2016-2017, Ready to drink blended tea production volume in Japan 2013-2021, Tea market: value growth in the United Kingdom (UK) 2014, by category, Share of past-day tea consumers in Canada 2009-2020, Preferred time for bubble milk tea on weekdays in Vietnam 2019, by age group, Frequency of purchasing hot beverages for home consumption in France 2017, by type, Preferred time for bubble milk tea on weekends in Vietnam 2019, by age group, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, Tea sales value in the United Kingdom (UK) 2010-2014, Leading factors influencing bubble tea purchase Singapore 2020, Brazil: ready-to-drink tea production volume 2018-2021, Brazil: per capita consumption of ready-to-drink tea 2018-2021, Cost of one cup of bubble tea Singapore 2018, by major brand, Market share of tea and coffee drinks by distribution channel in Spain 2019, Tapioca and substitutes import volume to Japan 2016-2021, Find your information in our database containing over 20,000 reports. Coffee and tea are the most consumed as well as socially accepted nootropic beverages across the world, and many consumers are highly dependent on such caffeinated drinks before starting their day. However, the drinks popularity also contributed to its downfall. Sweeter than soda? Health experts highly recommend drinking bubble tea in moderation, and if possible, to opt for the less sweet or low-calorie varieties. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. The nostalgic flavour of Uncle JiaJia liang teh has now taken the form of bubble tea! We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Its not difficult to observe and learn their play and strategy, but whats more important is to ensure positive unit economics and good return on investment., Be among the first to know the Breaking news. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. A. This was attributed to rise in the fitness conscious people across the globe.

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