The global bubble tea market revenue, valued at USD 2.46 billion in 2023, is projected to grow to USD 2.63 billion in 2024 and reach USD 4.78 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7.74%.
Originally created in Taiwan, bubble tea has become a global sensation, gaining significant popularity in Western markets like Canada and the U.K. This sweet and versatile beverage combines premium milk, liquid sweeteners, tapioca pearls, creamer, fruit powders, and various other ingredients. As a cultural symbol, bubble tea showcases Taiwan's culinary innovation and its growing presence in the international food service industry.
According to Nextrends Asia 2021, Taiwan's exports of pearl milk tea base components—such as raw materials, packaging, and equipment—have increased by an astounding 330% since 2018. Factors like the rise in gastronomic tourism, health-conscious consumer trends, and the influence of social media have fueled bubble tea's global popularity.
This information is derived from the report “Bubble Tea Market, 2024-2032” by Fortune Business Insights™.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
List of the Companies Profiled in the Report:
Segments:
Black Tea Segment Poised for Significant Growth from 2023 to 2030
The black tea segment is set to witness substantial growth during the forecast period, driven by increasing global health awareness. Valued for its antioxidant, anti-aging, and anti-diabetic properties, black tea is gaining traction among health-conscious consumers. The rising preference for natural and organic food and beverage products further supports the segment's expansion. While green tea is projected to dominate a significant portion of the bubble tea market, black tea remains a close contender in terms of popularity.