According to a new report by Expert Market Research titled, ‘Global Bubble Tea Market Report and Forecast 2020-2025’, the global bubble tea market reached a value of almost USD 2.4 billion in 2019. The market is further expected to grow at a CAGR of 7.5% in the forecast period of 2020-2025 to attain USD 3.6 billion in 2025.
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The global bubble tea market is being aided by the beverage’s ability to be customised according to the consumers’ wide taste palette. Bubble tea can be consumed hot or cold. The bubbles in bubble tea are basically small tapioca balls, which are chewy, making it different from regular tea. Its diverse offerings and its unique spin on the traditional preparation of tea is contributing to its popularity among the millennial consumers. The rapidly growing urbanisation and increasing disposable incomes of consumers are expected to further propel the market forward. Major companies like Starbucks (NASDAQ: SBUX) and McDonald’s (NYSE: MCD) are also major contributors for the market growth as they have introduced bubble tea in their menus to attract consumers.
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Market Analysis by Type:
- Black
- Green
- Oolong
- White
Market Analysis by Flavour:
- Original
- Fruit
- Coffee
- Chocolate
- Others
Market Analysis by Region:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Competitive Landscape & Supplier Analysis:
- Dama Foods International Co., Ltd
- Lollicup USA Inc.
- Fokus Inc.(NASDAQ: EFOI)
- Cuppo Tee Company Limited
- Sumo’s (M) Sdn Bhd
- Huey-Yuhe Enterprise Co., Ltd.
- Others
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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