USD 4.45 Billion
Bubble Food & Beverages Market Size, Share, Growth Analysis, By Product(Fruits Snacks, Desserts, Bubble Tea, Others), By Source(Tapioca-based, Bursting Bubbles), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30G2046 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
63
|Figures:
77
Bubble Food & Beverages Market Insights
Global Bubble Food & Beverages Market size was valued at USD 4.45 Billion in 2022 and is poised to grow from USD 4.87 Billion in 2023 to USD 9.99 Billion by 2031, at a CAGR of 9.40% during the forecast period (2024-2031).
Social media has contributed to bubble tea's widespread popularity. The popularity of boba in Southeast Asia has led to a 3,000% spike in bubble tea orders on GrabFood. GrabFood reached almost 4,000 bubble tea restaurants in May 2021, according to a blog posted on the Grab app. This is a 200 percent increase in outlets for the company. The market is expanding due to the increasing demand for snacks and beverages made with boba.
Demand for bubble tea has also grown as people are choosing healthy drinks over carbonated ones more frequently. For instance, Bubble Tea Club received $ 1.1 million in June 2021 to support a rising consumer base. Manufacturers have been motivated to provide new goods due to expanding investments in research and development as well as growing customer knowledge of the advantages of products made with natural, organic, and vegan tapioca pearls. For instance, the cosmetics company Botanist added blue-hued boba tea produced with pea-based milk to its in-store café menu in the Tokyo neighbourhood of Harajuku in August 2021, expanding its product line to include bubble tea. The popularity of exploding boba and bubble foods and drinks has been fueled by the variety of sauces and toppings, flavours, and combinations of taste and texture that are available.
US Bubble Food & Beverages Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Bubble Tea
Fastest Growth
Bubble Tea
Growth Rate
9.40% CAGR
Global Bubble Food & Beverages Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Bubble Food & Beverages Market Segmental Analysis
Global Bubble Food & Beverages Market is segmented on the basis of product, source, distribution channels and region. By product, the market is segmented into fruits snacks, desserts, bubble tea, and others. By source, the market is segmented into tapioca-based and bursting bubbles. by distribution channels, the market is segmented into off trade and on trade. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Bubble Food & Beverages Market Analysis by Source
In 2021, the tapioca-based category held a lion's share of the global market, contributing more than 65.5% of the total revenue. Tapioca, which is made from cassava root, is a key component in the creation of tapioca boba pearls. The market for tapioca-based boba that has been infused with a variety of natural ingredients is also increasing as a result of the increased demand for vegan food and beverages. Moreover, gluten-free and vegan beverage options are being substituted for carbonated beverages by consumers, and numerous food service establishments believe that tapioca will soon overtake wheat flour as a common ingredient in gluten-free boba balls.
In the time frame of the forecast, markets for items that burst bubbles are anticipated to increase more quickly. A jelly-like ball with juice inside, bursting boba, often referred to as popping boba, explodes when it is chewed. The popping boba industry is being driven by the availability of varieties including green apple, strawberry, mango, honey melon, green tea, pomegranate, lychee, and orange. The market growth throughout the anticipated period is consequently being supported by this.
Bubble Food & Beverages Market Analysis by Distribution Channels
In 2021, the on-trade category accounted for more than 59.00% of global revenue. It is also anticipated to grow at the fastest CAGR during the projected period. The growth of on-trade channels has been accelerated by demographic and socioeconomic changes, growing urbanization, and the increasing westernization, all of which frequently encourage the purchase of fashionable and handcrafted goods. In addition, the demand for handcrafted bubble food & beverages has been fuelled by increased consumer preferences for convenience, hygiene, and high-quality standards.
Online retailers, grocery stores, and other retailers are included in the off-trade section. Consumers are becoming more internet-savvy, and businesses are increasingly using targeted marketing to connect with customers at all points of contact, which is expected to drive the market's expansion. The sale through online channels is additionally boosted by the simple accessibility and significant discounts and offers offered by online platforms.
Global Bubble Food & Beverages Market By Product
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Bubble Food & Beverages Market Regional Insights
In 2021, the Asia Pacific region dominated the global market and had the highest revenue share of about 36.3%. This is explained by a rise in the popularity of bubble meals and drinks in nations like China, Thailand, Australia, and New Zealand. Additionally, the segment development is projected to be aided by an increase in the number of product releases in important regions like China, Thailand.
From 2022 to 2030, North America is anticipated to grow significantly, making it the second-largest regional market. The market for bubble food and beverages is being driven by consumers' strong willingness to spend for healthy foods and beverages in nations like the U.S. and Canada. A further factor supporting the overall growth is the increasing number of product launches by important regional businesses.
Global Bubble Food & Beverages Market By Region
- Largest
- Fastest
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Bubble Food & Beverages Market Dynamics
Bubble Food & Beverages Market Drivers
Wide Product Portfolio will be a Prominent Attraction for Consumers
- The market has a wide selection of flavours and types, including black, fruit-flavored, and green jasmine tea. Fruit-flavored tea comes in a variety of flavours, including sweetened fruit drinks and cream drinks that have fruit flavour. Those who cannot tolerate lactose can drink black, green jasmine, and other types of tea. The availability of numerous boba tea kinds gives the consumer more options. This marketing strategy helps to increase the number of customers. Companies are also developing novel flavours and mixes in an effort to attract customers.
- Due to disorders like obesity and diabetes, which are connected to an increase in sugar intake, consumers are switching to sugar replacements like agave, stevia, and honey. These natural sweeteners are used in boba tea to either replace or reduce the sugar content. Diabetes patients and anyone who value their health prefer these natural sweeteners to regular sugar. The positive traits of these products, such as their anti-inflammatory, anti-carcinogenic, and antioxidant properties, are why people favour them so much.
Bubble Food & Beverages Market Restraints
Substantial Competition Pose as a Threat
- A challenge to the rising demand for such tea as a novel beverage is the broad availability of alternative caffeinated beverages like coffee and trends in coffee consumption in western countries. The utilisation of coffee as an energy booster has expanded, and its accessibility as a ready-to-drink product has improved to meet the needs of customers who lead busy lives. A variety of useful coffee categories offer an abundance of inventive coffees, such as cold brew, snap chilled, cold brew, and effervescent canned coffee.
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Bubble Food & Beverages Market Competitive Landscape
International and domestic players might be found in the market. The main companies in the industry put their attention on tactics like innovation and the introduction of new products to expand their portfolio offerings.
Bubble Food & Beverages Market Top Player’s Company Profiles
- Coco Fresh Tea & Juice (Taiwan)
- Chatime (Taiwan)
- Sharetea (Taiwan)
- Boba Guys (USA)
- Happy Lemon (China)
- The Alley (Taiwan)
- Presotea (Taiwan)
- Tiger Sugar (Taiwan)
- Ten Ren's Tea (Taiwan)
- Yifang Fruit Tea (China)
- Royaltea (China)
- Nayuki (China)
- Heytea (China)
- Vivi Bubble Tea (USA)
- TP Tea (Taiwan)
- Quickly (USA)
- Comebuy (Taiwan)
- HappyFresh (India)
- Biju Bubble Tea (Canada)
Bubble Food & Beverages Market Recent Developments
- In May 2022, to satisfy client demand, Barroco by Café De Bangkok will start selling boba tea in about 21 flavours, including cotton candy and Japanese sweet potato. Together with delectable Thai bubble tea, the café offers cream cheese versions.
- In April 2022, Better boba alternatives were released nationally by the New York-based startup BUBLUV. There are three varieties available, including Passion Fruit Oolong Guava with Tapioca Pearls, Matcha Soy Latte with Tapioca Pearls, and Black Milk Tea with Tapioca Pearls. The beverage is essentially keto-friendly and gluten-free.
- In March 2022, Due to the pearl milk tea trend's increased market clout throughout the world, several Indian cities, including Thiruvananthapuram and others, have begun putting this Taiwanese beverage on their menus.
Bubble Food & Beverages Key Market Trends
- The rise of social media has had a significant impact on the food and beverage industry, and the bubble food and beverage market is no exception. Many bubble tea shops and cafes have gained a significant following on social media platforms by creating visually stunning drinks that are designed to be shared and photographed. These drinks often feature vibrant colors, creative toppings, and unique serving vessels.
Bubble Food & Beverages Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, A broad variety of goods are available on the market, including bubble tea, bubble coffee, smoothies, flavoured water, and other foods and drinks with chewy, gummy, or jelly-like bubbles. The demand for innovative and healthier alternatives to standard soft drinks and snacks, as well as the emergence of social media and the growing appeal of Instagram-worthy foods and beverages, are some of the major factors driving the bubble food and beverage market. There are many tiny, individual bubble tea stores and cafes in the market, along with larger chains and global companies, making it quite competitive. With new flavours and varieties of bubble tea and other bubble beverages, there is also a considerable amount of innovation and new product development in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.45 Billion |
| Market size value in 2031 | USD 9.99 Billion |
| Growth Rate | 9.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bubble Food & Beverages Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bubble Food & Beverages Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bubble Food & Beverages Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bubble Food & Beverages Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bubble Food & Beverages Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bubble Food & Beverages Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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