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This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. Bubble tea has emerged as a cultural icon for the world and symbolizes Taiwans food innovation to promote its existence amidst the food service industry. Teens use tea house notice board to talk to each other. By region, North America was the most prominent regional market in 2019. Then you can access your favorite statistics via the star in the header. In some instances, a hot version of the tea is also available. The Straits Times, p. 8. Number of bubble tea outlets in Singapore in 2019, by. Get full access to all features within our Business Solutions. It also offers a detailed analysis of the market size and growth rate for all possible market segments. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Far from game over: From boom to bust to boom again, bubble tea is back Over of the bubble tea enjoyed around the world is fruit-flavored. 16 Bubble Tea Statistics to Calm Your Cravings - Soocial With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! 3. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. (2002, January 13). Though there are high margins, bubble tea is a low-differentiation game with easily replicable products and a challenging supply chain, he said. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Chan, H. J., & Lee, D. (2013, May 28). This is a very good piece of work and will be very helpful to us going forward. A. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. Health-beneficial attributes such as low-fat, low-calorie content, and the presence of anti-inflammatory properties are the key driving factors of the market. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. 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. You only have access to basic statistics. The Straits Times, p. 78. Subject Taiwanese and homegrown brands have long dominated the Southeast Asian bubble tea market, the study found. 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. Asia Pacific is expected to dominate the market during the forecast period. Heritage and Culture. February 11, 2020. In the next five years, the bubble tea industry is expected to grow by nearly 54%. A. What is the major restraint for the global market? A 16 oz serving of bubble tea contains 38 grams of sugar, which is 76% of the recommended daily value. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. Moreover, increase in disposable income and economic growth in advanced & emerging economies support the market growth. The players in the bubble tea market have adopted acquisition as their key development strategy to increase profitability and improve their position in the bubble tea market. It is already known that sugary drinks contribute to weight gain, obesity and other diseases such as diabetes, heart disease, stroke and cancer. 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. Pearls dropped by some bubble tea shops. As a Premium user you get access to background information and details about the release of this statistic. 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. 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. Bubble tea's popularity has inspired other creative fusion foods, from pastries and desserts to even savoury foods via Nylon Singapore It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. In 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. To use individual functions (e.g., mark statistics as favourites, set However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. Bubble Tea Market Sale, Share, Size, Growth & Forecast -2032 Aqilah, a consumer in Malaysia, used to buy bubble tea at least twice a week. Ethnic foods The data offered to us was exactly what we were looking for. Another draw is the foamed tea. Singapore: bubble tea outlets by brand 2019 | Statista The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Keep reading to discover everything weve uncovered about bubble tea. Stay abreast of your interest areas. I believe its because of the level of sugar [in the drink], she said. Retrieved from NewspaperSG.6. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. All Rights Reserved. The challenge, as usual, lies in execution and the ability to build (and of course, maintain) a defensive moat along the way.. We use cookies to enhance your experience. Bubble Tea Popularity Statistics Singapore - Emkan.me Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. The availability of different types of milk tea offers numerous options for consumers to enjoy. 15. Today, bubble tea consumption in China surpasses that of coffee and many other traditional beverages. A paid subscription is required for full access. Bubble Tea Popularity Statistics Singapore - Coub 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 beverage is now considered a mainstay due to its unique formulation. The Straits Times, p. 8. In addition, recently many Chinese brands have entered the region, it added. business insights into THE BUBBLE TEA MARKET - mise en place Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. It comes with the additional cost of $2500.00 contact sales. However, the green tea segment is expected to grow at the highest CAGR throughout the forecast period, owing to growth innumber of health conscious consumers worldwide. Durai, J., & Poon, C. H. (2011, June 4). The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. 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). The hidden sugars in bubble tea, Confessions of a bubble tea addict: Not good for me, but it's been good to me. 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. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share Thailands consumers take top spot for consuming six cups of bubble tea per person per month, followed by the Philippines with an average of five cups. IN FOCUS: Singapore's love affair with bubble tea - CNA I liked bubble tea first because milk tea is nice, and the pearl. However, the drinks popularity also contributed to its downfall. The peak of the fad was from March to October 2001, when shops reportedly sold as many as 800 to 1,000 cups a day.7 Major chains included Cool Station, Quickly and Milk Girl Ice Cup.8However, the drinks popularity also contributed to its downfall. You need a Statista Account for unlimited access. The consumption of bubble tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. In 2018, there were over 450,000 shops selling bubble tea in China. South America is anticipated to grow in terms of sales volume of the products in the coming years. 2023 Allied Market Research. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. Use Ask Statista Research Service, Estimated production volume of tea across India 2022, by state, Production of tea worldwide 2006-2021, by country. The pandemic served as a natural selection process as many stores shut down. However, the sweeteners segment is expected to witness the highest growth, owing to rise in demand for sweet beverages across the globe. 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 .