Global Bubble Tea Market valued approximately USD 1945.6 Million in 2017 is anticipated to grow with a healthy growth rate of more than 8.5 % over the forecast period 2018-2025.
As per the new research study conducted by Report Ocean, Global Bubble Tea Market industry is poised to raise USD 3864.2 Million by 2025. Successful boba tea businesses such as Gong Cha, Boba Guys, and CoCo Fresh Tea and Juice have a string of shops throughout the United States and other parts of the world. Largely owing to the increasing popularity of bubble tea, these companies are constantly expanding their retail chains across the world Also, the global consumer spending has increased significantly with major contribution from the developing Asian countries. The global consumer spending power growth bottomed out in 2016, picked up a little in 2017, and is set to accelerate a little further in 2018, before cooling again next year. The regional paradigm of global bubble tea market is dominated by North America region with revenue contribution of 49.24% in 2017. The U.S. and Canada are primarily coffee loving countries; however, the adoption of bubble tea is gaining rapid pace in the region with more consumers being attracted towards the beverage considering its health benefits and customizable quality. Bubble tea has become a mainstream beverage in U.S. and Canada in last few years with several Taiwanese brands such as Gong Cha and Boba Guys targeting the U.S. as a prime region.
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Global Bubble Tea Market Size study, by End User (Kids (<10 years), Teenagers (<25 years) Adults), by Type (Original Bubble tea, Fruit flavoured Bubble tea, Others) and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players Lollicup USA, CuppoTee Company, Bubble Tea House Company, Ten Ren-s Tea Time., Boba Box Limited., Sumos Sdn Bhd., Gong Cha USA, Boba Tea Company, Troika JC. (Qbubble)., Fokus Inc., Kung Fu Tea, Boba Guys Inc, Chatime, ShareTea, Kuaikeli Enterprise Co., Ltd. (Quickly), 8tea5, COCO International Co., Ltd., Vivi Bubble and so on. The fierce competitiveness has made these players spend in product developments to improve the customer's requirements.
Key findings of the study:
- The U.S. and Canada are primarily coffee loving countries.
- Increase in demand for non- alcoholic and non-carbonated drinks have presented lucrative growth opportunities for the bubble tea
Report Ocean has considered following segments for the study:
By End User
- Kids (<10 years)
- Teenagers (<25 years)
- Original Bubble tea
- Fruit flavoured Bubble tea
- North America
- Asia Pacific
- Latin America
- Rest of the World
For more information about this report visit https://www.reportocean.com/industry-verticals/sample-request?report_id=35699
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