bubble tea popularity statistics singapore

Long queues at bubble tea shops, now serving only takeaway bubble tea, were a common sight. Profit from the additional features of your individual account. Thank you for requesting a call back, our sales representative will get in touch with you shortly! Were big enough to handle massive projects, and yet also nimble enough to come up with names on demand that hit every time. statistic alerts) please log in with your personal account. If you are an admin, please authenticate by logging in again. Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. As a Premium user you get access to the detailed source references and background information about this statistic. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. More people are discovering and enjoying bubble tea every year, however, so these figures may soon change as people age and continue to enjoy their favorite drink. The beverage is now considered a mainstay due to its unique formulation. It cited Nayuki, the first new tea brand to go public, whose market cap plunged by more than 70 per cent since it listed on the Hong Kong stock exchange. In 1987, a staff member had the idea of adding. Ho, M., & Boey, D. (2001, June 29). By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. #1 HEYTEA Golden Osmanthus Oolong ($7.50) Photo from HEYTEA. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. Very satisfied with the overall report as it has helped me to build strategies for my business, This is regarding the recent report I bought from Fortune Business insights. 3. 7. 2023 Allied Market Research. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. The hidden sugars in bubble tea, Confessions of a bubble tea addict: Not good for me, but it's been good to me. Vietnam is ranked third with US$362 million, with Singapore fourth atUS$342 million. A. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. Brands are also providing more health-conscious options to cater to customers, through customisable sugar levels and healthier" alternatives like brewed fresh fruit tea. There was a 3,000% increase in the amount of bubble tea orders in Southeast Asia in 2018. Almost overnight bubble tea shops popped up around the world in multiple countries that had never had an interest in it before. An average, medium-sized serving of bubble tea has, on average, 335 calories. Young people between ages 20 and 29 are interested in bubble tea. As soon as this statistic is updated, you will immediately be notified via e-mail. Thanks for sticking with me in this huge post. 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. Statista. Chart. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. 4. Southeast Asia's bubble tea craze | The ASEAN Post 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. It also offers a detailed analysis of the market size and growth rate for all possible market segments. You can only download this statistic as a Premium user. That number increases when you go up in size to 469 calories and only gets worse as you add in more toppings or extra flavors. Remarkable job and great efforts by your research team. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. The Straits Times, p. 73. With bubble teas sudden increase in popularity, it should be no surprise that the industry is only expected to keep growing. These pearls, that looks like dark bubbles, give the tea its name. The Straits Times, p. 10. The Straits Times, p. 8. Today, millennials, zennials, and gen z account for the vast majority of the countrys bubble tea consumption. The global bubble tea market was valued at US$1.96 billion (S$2.67 billion) in 2016 and is projected to reach US$3.21 billion by 2023, according to research firm Allied Market Research. This beverage has undergone a few waves of popularity in Singapore. An Infographic Representation of Bubble Tea Market, To get information on various segments, share your queries with us. The emergence of Chinese players who are good at branding, product/supply chain and cost management could pose an increasing challenge to existing local players. Grabs data also found that Southeast Asians drink an average of four cups of bubble tea per person per month. Bubble tea has a strong market potential as it offers various types and flavors of boba teas, such as fruit flavored, black tea-based milk tea, and green jasmine, across the globe. It is not intended to be an exhaustive or complete history of the subject. The bubble tea industry is enormous and accounts for one of the fastest-growing food markets in the world today. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. The prevalence of lifestyle disorders such as obesity and diabetes associated with the hectic lifestyle of consumers has nudged them to shift toward healthy drinks, such as ginger tea and boba teas, due to their easy customization. Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. On Deliveroo, bubble tea is the most popular item in its beverage category, with users ordering 385,000 cups in 2018. In some instances, a hot version of the tea is also available. Despite the burgeoning demand for such innovative tea beverages, the wide availability of other caffeinated and conventional drinks, such as coffee and chocolate, coupled with the prominent coffee consumption trends in Western countries, poses a threat to market growth. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. Bubble tea is often seen as a sweet, fruity, and more feminine drink in the western world, particularly with its multi-colored straws and cute cartoon packaging designs. In, Nielsen. Among various flavors, the fruit flavor is more popular, and this segment dominated the market in 2019. However, excess sugar content in these drinks leading to health issues and trend of coffee consumption are expected to restrict the market growth. According to the study, there are three underlying fundamentals to building a successful bubble tea business. Of the 30 countries that enjoy bubble tea, most are in Asia. The manufacturers or entrepreneurs in the boba tea industry are venturing into the launch of their own restaurants/cafes to attract consumers and fortify their market presence. When we say that bubble tea is insanely popular, were not joking. These drinks are mixed only after an order has been made and are then machine-sealed in a clear plastic cup.1OriginBubble tea originates from Taichung, Taiwan. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period. 5. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. Fortune Business Insights says that the global market size was USD 2.29 billion in 2022 and is projected to reach USD 4.08 billion by 2030. Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, Troika JC. The Straits Times, p. 73. Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. A popular version of bubble tea, known as Thai iced tea originated in Thailand in the 1800s, and when bubble tea was invented people began adding tapioca balls to it. We know where we will be getting business intelligence from in the future., Thank you for sending the market report and data. Number of bubble tea outlets in Singapore in 2019, by. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. Please do not hesitate to contact me. However, the drinks popularity also contributed to its downfall. 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). [Online]. Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. Is Running A Bubble Tea Business In S'pore Actually Lucrative? Malaysia, Singapore, Vietnam and Indonesia consume three cups per person per month. According to a recent study, the bubble tea industry is expected to grow by almost $2 billion to a whopping $4.3 billion by 2027. The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. Taiwanese and homegrown brands have long dominated the Southeast Asian bubble tea market, the study found. Retrieved from NewspaperSG.15. Register in seconds and access exclusive features. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! Mediacorp Pte Ltd. All rights reserved. As a Premium user you get access to background information and details about the release of this statistic. With 250 different flavors, it makes sense that there would be different bases to the teas. Bubble tea orders in Southeast Asia recorded a . Bubble tea has been gaining traction in emerging markets, owing to rise in its popularity.Furthermore, growth in health consciousness and increase in adoption of healthy beverages such as green tea, black tea, oolong tea, and white tea among consumers drive the market growth. In Singapore, there has been renewed hype in bubble tea in the past year, spurred by the entrance of well-known global franchises, and local entrepreneurs stepping up to give those brands a run for their money. As a result, bubble tea lost its popularity by 2003 and many shops folded. However, it added that the supply chain for bubble tea stores can be more challenging than e-commerce due to the high demand for the freshness of raw materials. Companies, such as Lollicup U.S.A. Inc., Gong Cha, Chatime, and others, have invested in research and development activities to offer new variants of tea for a growing market. Revenue of the cosmetic & beauty industry in the U.S. 2002-2022, Value of the leading global textile exporters in 2021, by country, Vegetable oils: global consumption 2013/14 to 2022/23, by oil type, Cocoa bean production worldwide 2020/2021-2022/2023, by country, World coffee per capita consumption: major consumer countries 2015, Cosmetics industry in the U.S. - statistics & facts, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. Jointly conducted by venture outfit Momentum Works and digital payments solution firm qlub, the report also found thatthe average price of bubble tea in Singapore is double that of other countries in the region. DBS Group Research. They are made from cassava starch, a common ingredient in Brazilian culture, and they take time, effort, and skill to make properly. Bubble tea is known for its sweet taste. The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. The students tested five popular brands of bubble tea for their sugar content and found that two brands tested for incredibly high sugar content Brown Sugar Boba Milk Tea and Bubble Milk Tea ordered with 100 percent sugar which has 18.5 and 20.5 teaspoons of sugar, respectively. The bubble tea industry is expected to reach $3.39 billion by 2027. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe. 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. 9. Due to the COVID-19 pandemic, the global Bubble Tea market size is estimated to be worth USD 8062.1 million in 2023 and is forecast to a readjusted size of USD 27780 million by 2030 with a CAGR of . https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. The ideal entry-level account for individual users. Customers also have the option of adjusting the drinks sugar level. You need a Statista Account for unlimited access. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. When you look at the marketing for bubble tea, the numbers make sense. The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. *Taxes/Fees, if applicable will be added during checkout. Bubble tea is extremely high in calories. Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. Bubble tea is a sweet, delicious drink typically made from a tea base that is then mixed with either milk or fruit flavoring. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive, Please pass on our sincere thanks to the whole team at Fortune Business Insights. For instance, in April 2022, U.S.-based start-up Bubluv Inc. launched tapioca starch and konjac-based boba tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. For instance, in June 2022, Frankly, the first Italian bubble tea chain, witnessed a massive increment of around 148% compared to the previous years via a crowdfunding campaign. What are the key factors driving the market? Moreover, European and other Scandinavian countries are prominent followers of tea and coffee cultures, and thus are keenly interested in experimenting with new types of fruity flavors, herbal, and bubble teas. The appearance of the finished drink is what led to its name. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. According to Grabs data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. The data also revealed the regions favourite flavour (hazelnut), topping (pearl) and the time most people order bubble tea (lunchtime). "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Malina Malkani, a media spokesperson for the Academy of Nutrition and Dietetics in the United States (US) said that bubble tea is a high-calorie drink with little source of protein or fibre. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. 2. Fruit-flavored bubble teas account for the largest percentage of bubble tea consumed at 37%. In the next five years, the bubble tea industry is expected to grow by nearly 54%. The consumption of black tea is highly promoted due to its strong antioxidant, anti-aging, and anti-diabetic properties. All Rights Reserved. It looks quite comprehensive and the data is exactly what I was looking for. Extruding the tapioca into these small balls is difficult work. Yet, few players have managed continuous profitability at a large scale.. How much is the global bubble tea market worth? The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. Bubble tea can be found in over 30 countries. 12. The bubble tea industry was valued at $2.2 billion in 2019. A paid subscription is required for full access. Nigeria, specifically, has become a hub for cassava production. Need to talk to an expert? In April 2020, Bubble Tea Supply Inc. launched its first bubble tea with a range of flavors including traditional milk, green apple, mango, lychee, and honeydew accompanied with over 14 toppings. New bubbly a hit with youth here. Stay abreast of your interest areas. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving boba tea across the country. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. This includes bubble tea outlets. 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. Momentum Works founder and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. Its not difficult to observe and learn their play and strategy, but whats more important is to ensure positive unit economics and good return on investment., Be among the first to know the Breaking news. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. statistic alerts) please log in with your personal account. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. Profit from the additional features of your individual account. In the United States, 95% of women have tried bubble tea versus 81% of males. Moreover, the availability of suitable alternatives, such as unsweetened tea, coconut water, fruit-infused teas, and others, offering similar benefits, hamper the global market growth. There has been speculation linking tapioca balls to cancer, though most claims have been refuted following extended research. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Teens use tea house notice board to talk to each other. 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 While consumers in Singapore are more health conscious, its not the same across other markets, it added. Chan, H. J., & Lee, D. (2013, May 28). Furthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. Nearly everyone in Thailand enjoys drinking bubble tea, to the point that they have surpassed every other country in the amount that they drink! Learn more about how Statista can support your business. A. Ho, S. B. The market research report includes quantitative and qualitative insights into the market. To get the sample of bubble tea market report, click on the link (Please paste the link here). The region is witnessing a cross-cultural food consumption trend, and the growing health and wellness approach is also expected to boost the growth. hief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. This can be attributed to change in preference of consumers toward healthy beverages and better taste. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. There is also an industry saying that nine out of 10 bubble tea stores lose money, it added. Consuming Singapore: The obsession with bubble tea Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. Global Opportunity Analysis and Industry Forecast, 20202027. During the late 1980s and into the 1990s, bubble tea was only consumed in a select few countries including Taiwan, Hong Kong, China, and Japan. Moreover, rise in consumption of flavored bubble tea in young generation fuels thebubble tea market growth. This beverage has undergone a few waves of popularity in Singapore.DescriptionBubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the concoction. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. The Best Bubble Tea Brands In Singapore Photo by: Kenneth Goh The best bubble tea in Singapore Southeast Asia spent more than $5 billion on BBT last year Written by Kylie Wong & Pailin. Retrieved from NewspaperSG.12. Retrieved from NewspaperSG.13. Bubble Tea Popularity Statistics Singapore - Emkan.me Unapproved additive found in 11 food products. The Straits Times, p. 3. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. Availability of Alternative Caffeinated Drinks to Impede Growth. Junction. Teenagers and people in their 20s consistently account for the highest consumer percentage of bubble teas. The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. I believe its because of the level of sugar [in the drink], she said. COVID-19: Bubble tea shops, other less critical F&B businesses to close 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. February 11, 2020. Upgraded but still having issues? Such initiatives further support the immense growth opportunities for the companies. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. We dont recommend anyone making it a daily indulgence. Chewy tapioca balls or pearls are often added as well, giving rise to the need for extra large straws when drinking the beverage. Virtually any flavor that you can imagine exists with bubble tea. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. Your email address will not be published. Ive been drinking it a lot for the past few months and realised that my weight increased. ", DBS Group Research, Number of bubble tea outlets in Singapore in 2019, by brand Statista, https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/ (last visited May 01, 2023), Number of bubble tea outlets in Singapore in 2019, by brand [Graph], DBS Group Research, October 22, 2019. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. Pearls dropped by some bubble tea shops. The emerging players in the Bubble Tea Market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, Boba Loca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Recent Statistics Popular Statistics Facebook: quarterly number of . Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Get detailed COVID-19 impact analysis on the Bubble Tea Market. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. South America is anticipated to grow in terms of sales volume of the products in the coming years. 8. The forecast period in the global bubble tea market report is 2019-2027. IN FOCUS: Singapore's love affair with bubble tea - CNA Countries such as Vietnam and Taiwan are projected to have the largest sales. 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 Tea segment in Singapore is projected to grow by 2.16% (2023-2025) resulting in a market volume of US$807.70m in 2025. . Advertising prohibitions will also apply to such drinks. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. (1992, May 27). The Straits Times, p. 10. To make the bubbles, tapioca is cooked in hot water along with sugar, for up to three hours. Ho, M., & Boey, D. (2001, June 29). And if youre looking for all the facts and figures that back up our claim, you have this blog post. Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. "Yet, few players have managed continuous profitability at a large scale." It cited. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . A wide variety of teas, including black, green, oolong and earl grey tea are sold. 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. Art & Craft. Since our launch, weve worked on more than 1,000 projects for clients around the world. Plasticisers are discovered in two Taiwanese fruit juice brands, resulting in suspension of the brands.2013: Maleic acid found in Taiwanese starch products, affecting the pearl supplies of certain bubble tea chains.AuthorJan YapReferences1. You need at least a Starter Account to use this feature. Keep reading to discover everything weve uncovered about bubble tea.

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