"Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. The current valuation of the market is US$ 2.50 billion in 2022. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. The Agri-Food and Veterinary Authority (AVA) suspended the brands, resulting in a few bubble tea chains temporarily being unable to sell their fruit teas.13In May 2013, it was discovered that the Sunright brand of tapioca balls, as well as other starch products from Taiwan used in bubble tea, contained maleic acid, a substance harmful to the kidneys.14 As a result, some bubble tea chains stopped selling pearls with their teas for the time being.15 Such health scares negatively affected bubble tea sales, although customer confidence returned after a period of time.Timeline1992: Bubble Tea Garden, Singapores first bubble tea caf, opens.2001: Bubble tea reaches the height of its popularity.2007: Renewed popularity of bubble tea.2011: Renewed popularity of bubble tea. Consumer Shift toward Healthy Alternatives to Favor Growth. 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. In this era, the growing consumer preferences for products depend on various factors such as choice of taste, price, brand, and location accessibility. If you are an admin, please authenticate by logging in again. If you are an admin, please authenticate by logging in again. I liked bubble tea first because milk tea is nice, and the pearl. 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. You can only download this statistic as a Premium user. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. Gong Cha, for instance, was founded in 2006 in Taiwan. 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. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 16. Please create an employee account to be able to mark statistics as favorites. Bubble tea, first introduced in Taiwan in the 1980s has done on to become a global phenomenon made popular by Internet foodies. This is likely due to its naturally sweet flavor and all of the different varieties of teas that are available. 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! The report segments the global bubble tea market based on base ingredient, flavors, component, and region. 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. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. However, consumers love for bubble tea wont change anytime soon, but they will vote for their favourite brands with their wallets.. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. 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. The chocolate segment is projected to have the fastest growth in the coming years due to increasing demand for chocolate-based drinks from every age group. According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. 2. About | Privacy Policy |Contact | Advertise | Support. 10. 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. The increase in bubble tea shops led to intense competition and price wars.9 Slashed prices, one-for-one offers and even lucky draw promotions were used to entice customers. 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. 4. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. The global bubble tea market was valued at US$1.96 billion (S$2.67 billion) in 2016 and is projected to reach US$3.21 billion by 2023, according to research firm Allied Market Research. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. Customers also have the option of adjusting the drinks sugar level. Use Ask Statista Research Service, The question asked was as follows: "Below are a list of factors that are important when choosing to purchase beverages. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . Bubbling over. I appreciate the timeliness and responsiveness of you and your team., (applicable to 1 report only for the same license type), The global bubble tea market size was valued at $2.29 billion in 2022 & is projected to grow from $2.46 billion in 2023 to $4.08 billion by 2030, 2020 Fortune Business Insights . 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). Total Starbucks locations globally 2003-2022, U.S. beer market: leading domestic beer brands 2017, based on sales, Revenue and financial key figures of Coca-Cola 2010-2022, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. Retrieved from NewspaperSG.5. . Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. The data offered to us was exactly what we were looking for. 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 data also revealed the regions favourite flavour (hazelnut), topping (pearl) and the time most people order bubble tea (lunchtime). Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) compared to 2018. Southeast Asia's bubble tea craze | The ASEAN Post The global Bubble Tea Market is expected to $4,368.6 million in 2027. Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. You need a Statista Account for unlimited access. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. Retrieved from NewspaperSG.10. 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. (October 22, 2019). Pandemic disrupted the entire world and affected many industries. Asia Pacific is expected to dominate the market during the forecast period. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. The market is expected to grow at a CAGR of 7.51%, during the forecast period. For those looking to cut back on sugar, bubble tea may not be the best choice. The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. There are 250 different flavors of bubble tea. 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. A bubble tea. The Straits Times, p. 10. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. 2-3. The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. If theres one thing you can count on, its that bubble tea is going to be more popular among women than men. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. This is a very good piece of work and will be very helpful to us going forward. There are many varieties of the drink with a wide range of ingredients. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. Ho, M., & Boey, D. (2001, June 29). In Malaysia, Columbia Asia dietitian, Kong Woan Fei told local media that depending on the sugar used, one cup of bubble tea can contain at least 370 calories. (1992, May 27). Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. Bubble tea is extremely high in calories. A. There is also an industry saying that nine out of 10 bubble tea stores lose money, it added. 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. According to Dr Tan Wee Yong, a consultant physician in Malaysia, it is recommended for a normal healthy adult to take no more than eight teaspoons of sugar a day, while a childs daily sugar intake should not be more than five teaspoons. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. statistic alerts) please log in with your personal account. 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. 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. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Profit from the additional features of your individual account. The bubble tea industry is expected to reach $3.39 billion by 2027. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. It should be no surprise then that sugar is a primary ingredient in the drink. The Straits Times, p. 8. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. The Straits Times, p. 73. This service is not intended for persons residing in the E.U. 12. Chief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Lek, E. (2007, August 20). Plasticisers are discovered in two Taiwanese fruit juice brands, resulting in suspension of the brands.2013: Maleic acid found in Taiwanese starch products, affecting the pearl supplies of certain bubble tea chains.AuthorJan YapReferences1. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. 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. Required fields are marked *. Book your free consultation and let our research experts help you with your needs/problems. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Retrieved from NewspaperSG.6. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. 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. When you look at the marketing for bubble tea, the numbers make sense. 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. 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. to incorporate the statistic into your presentation at any time. Chan, H. J., & Lee, D. (2013, May 28). What is the major restraint for the global market? Learn more about how Statista can support your business. Pearls dropped by some bubble tea shops. 3. Europe also witnessed growth in the pearl milk tea market around the same time as other Asian countries. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. In-depth analysis and the bubble tea market size and segmentation assists in determining the prevailing bubble tea market opportunities. 7. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. By region, North America was the most prominent regional market in 2019. One can order the teas plain, or with milk or various fruit extracts, including plum, lemon and passion fruit among other flavours. In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential. In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. To continue, upgrade to a supported browser or, for the finest experience, download the mobile app. Bubble Tea Market Demand to Surge with Rising Popularity of Junction. Apart from this, coffee flavor is also anticipated to hold a strong market share in the forecast period owing to the escalated demand for coffee as a healthy beverage. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. Previously, tea was usually served hot, so it was considered a novel idea to cool the tea with ice and mix it with various ingredients. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Copyright Mediacorp 2023. There has been speculation linking tapioca balls to cancer, though most claims have been refuted following extended research. Junction. Retrieved from NewspaperSG.14. Recent Statistics Popular Statistics Facebook: quarterly number of . Brands such as CHATIME and Bubbolitas established their first production units of boba drinks in 2009, and since then, the market has witnessed a growth trajectory. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. The increase in bubble tea shops led to intense competition and price wars. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. This was attributed to rise in the fitness conscious people across the globe. Because of the popularity and groundbreaking response from the customers, the businesses in this market typically franchise into different locations. The Straits Times, p. 73. Last week, it was announced that Singapore will soon require food and beverage outlets to include nutrition labels on their menus to indicate drinks that contain higher levels of sugar and saturated fat. Get insights on topics that are crucial for your business. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. All rights reserved. According to a study published in the National Library of Medicine, in 2022, chewing tapioca pearls can increase salivary C-protein (CRP) and calcium (Ca) levels. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. ", Nielsen, Important factors when considering a bubble tea purchase in Singapore in 2020 Statista, https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/ (last visited May 01, 2023), Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph], Nielsen, February 11, 2020. This beverage has undergone a few waves of popularity in Singapore. hief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. The Straits Times, p. 8. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. As a Premium user you get access to background information and details about the release of this statistic. A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. In the next five years, the bubble tea industry is expected to grow by nearly 54%. Art & Craft. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. This can be attributed to rise in the popularity of bubble tea with black tea as a base ingredient across the globe. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Retrieved from http://chunshuitang.com.tw/3. 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. . The manufacturers or entrepreneurs in the boba tea industry are venturing into the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa. Moreover, the emergence of do-it-yourself kits and classes allowed people to make their own bubble tea.10 As with other food fads, the novelty of the drink quickly wore off.