Bubble Tea Market Scope
Bubble tea is one of the most consumed beverages containing tea as its key ingredient with chewy tapioca balls which is also known as bubble milk tea, boba tea or juice, pearl milk tea as well as simply a bubble tea. The positive health benefits, the introduction of new flavors of bubble tea and decreases in demand for carbonated drinks provide opportunities for market expansion. According to AMA, the Global Bubble Tea market is expected to see growth rate of 7.15%
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Vendors having a strong hold in the market are Kung Fu Tea, Gong Cha, Boba Guys, and Chatime. Research Analyst at AMA estimates that Asian and North American Vendors will contribute to the maximum growth of Global Bubble Tea market throughout the predicted period.
Kung Fu Tea (United States), Gong Cha (Taiwan), Boba Guys Inc. (United States), Chatime (Taiwan), ShareTea (Taiwan), 8tea5 (Belgium), Kuai Ke Li Enterprise Co. Ltd. (Quickly) (Taiwan), OCOCO International Co., Ltd. (Taiwan), VIVI BUBBLE TEA (United States), Lollicup USA Inc. (United States) and CuppoTee Company (Taiwan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Bubble Tea House Company (United Kingdom), Ten Ren's Tea Time (United States), Sumos Sdn Bhd (Malaysia), Troika JC. (Qbubble) (United States) and Fokus Inc. (Taiwan).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Bubble Tea market by Type (Original Flavored Bubble Tea , Fruit Flavored Bubble Tea and Other Flavors), by Application (Kids (<10 years), Teenagers (<25 years) and Adults) and Region with country level break-up.
On the basis of geography, the market of Bubble Tea has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
In March 2019, 8tea5 inaugurated its newest store in Liege, Belgium.
On 16th August, 2018, ShareTea has opened 2 more stores in the Southern California state including Irvine and Rowland Heights. In January 2018, the company has opened a new store in Vietnam. Moreover in April 2017, the company has made an official announcement to clarify Sharetea only has one trademark 'Sharetea' been using in brand name, logo, symbol, designs and all relative marketing materials. There is no other Sub-Brand or Co-Brand authorized by Sharetea.
- Introduction to Flavored Bubble Tea
- Regional Expansion by the manufacturers of Bubble Tea
- Health Benefits Associated with Bubble Tea
- Contains Rich Source of Antioxidants called Polyphenols.
- Anti-Oxidant, Anti-Inflammatory and Anti-Carcinogenic Properties
- Increasing Consumption in North American and European Market
- Addition of Artificial Preservatives and Colors
- Increasing Distribution Overheads across the Globe
- Continuously Changing Consumer Preferences and Eating Styles
Analyst ViewGlobal bubble tea is found to dominate in the originator Taiwan (originated in 1980) and later has gained attention from other countries in APAC region. Although, the market possesses very limited non-substantial entry barriers, a few limited manufacturers are functioning in the geographically concentrated regions. On the other hand, introduction of numerous flavored bubble tea is expected to generate lucrative demand for bubble tea across the globe.
Key Target AudienceBubble Tea Manufacturers, Bubble Tea Distributors and Traders, Bubble Team Upstream and Downstream Buyers, Industrial Associations, Private Organizations, Government Agencies and Others