Pune, Sept. 22, 2020 (GLOBE NEWSWIRE) — The global bubble tea market growth is set to gain traction from its possession of numerous health benefits. Boba tea acts as an antioxidant. It is also preferred by health-conscious consumers owing to its low-fat and low-calorie content. Fortune Business Insights™ published this information in a new report, titled, “Bubble Tea Market Size, Share & Covid-19 Impact Analysis, By Type (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original, Fruit, Chocolate, Coffee, and Others), and Regional Forecast, 2020 – 2027.” The report further states that the market size was USD 2.02 billion in 2019 and is projected to reach USD 3.39 billion by the end of 2027, exhibiting a CAGR of 7.2% during the forecast period.
COVID-19 Pandemic to Affect Growth Backed by Surging Prices of Tea
The Indian Tea Association mentioned that on an average, the prices of tea surged by 25%-40% owing to the complete lockdown in the major tea growing countries amid COVID-19. Other reasons for this are the drop in crop size and the irregular movement of cargo. The outbreak of this pandemic has also caused several manufacturers to shut their factories down for maintaining social distancing and preventing transmission of the virus. Our reports are specially curated to help you understand the current situation.
Get Sample PDF Brochure with Impact of COVID19:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/bubble-tea-market-101564
This Report Answers the Following Questions:
Drivers & Restraints
The emergence of New Flavors & Formulations to Drive Growth
Bubble tea is available in various flavors and types, such as black tea, jasmine, green tea, and fruit-flavored tea. The fruit-flavored ones are further segregated into sweetened fruit drink and cream drink. Consumers are provided with a wide range of products to choose from. To attract more consumers, prominent companies are introducing new formulations and flavors, as well as opening new outlets worldwide. These factors are set to aid the bubble tea market growth in the coming years. However, the increasing trend of consuming coffee in Western countries may hamper demand.
List of the Leading Companies Profiled in the Global Bubble Tea Market are:
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/bubble-tea-market-101564
Major Segment
Black Tea Segment to Grow Rapidly Fueled by Preference by Health-conscious Consumers
Based on type, the black tea segment held 41.70% in terms of bubble tea market share in 2019. This growth is attributable to their rising preference by health-conscious consumers across the globe. Consumers nowadays are inclining rapidly towards organic and natural beverages. It would also spur growth.
Regional Analysis
Increasing Sales in Taiwan & Vietnam to Augment Growth in Asia Pacific
Geographically, in 2019, Asia Pacific procured USD 823.90 million in terms of revenue. Bubble tea originally came from Taiwan. Later, it spread to the other countries of Asia Pacific. Taiwan and Vietnam would contribute to the maximum growth in this region because of the high rate of sales. North America, on the other hand, would hold the second-largest share because of the rising consumption of boba tea.
Competitive Landscape
Key Players Aim to Open New Outlets Worldwide to Cater to High Demand
Several manufacturers are investing extensively in opening new outlets globally. Some of the others are trying to enhance the flavors and functionality of these teas for meeting the surging demand from the consumers.
Below are the Two Latest Bubble Tea Industry Developments:
Browse a Detailed Summary Of Pages Research Report With TOC:
https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
Detailed Table of Content:
TOC Continued…!!!
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/bubble-tea-market-101564
Have a Look at Related Research Insights:
Organic Tea Market Size, Share and Global Trend By Product Type (Green Organic Tea, White Organic Tea, Black Organic Tea, Oolong Organic Tea, Others), By Form (Dried Leaf, Powder, Liquid), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Channels, Convenience Stores, Others), and Geography Forecast Till 2026
Green Tea Market Size, Share and Global Trend By Type (Tea Bags, Powder, Loose Leaf, Capsules, Others), By Formulations (Flavored, Unflavored), and Geography Forecast Till 2026
RTD Coffee Market Size, Share & COVID-19 Impact Analysis, By Packaging Material (Glass and PET bottles, Cans, and Others), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, and Online Retail), and Regional Forecast, 2020-2027
Decaffeinated Tea Market Size, Share and Global Trend By Nature (Conventional, Organic), By End-use (Beverages, Dietary Supplements, Household), By Distribution Channel (B2C, B2B, Online Retailers, Store-based Retailers), and Geography Forecast Till 2026
Non-alcoholic Beverages Market Size, Share & COVID-19 Impact Analysis, By Type (Carbonated Soft Drinks, RTD Coffee & Tea, Bottled Water, and Fruit Beverages), Distribution Channel (Supermarket/ Hypermarket, Food Services Sector, Convenience Stores, Specialty Stores, and Online Retails), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release:
https://www.fortunebusinessinsights.com/press-release/bubble-tea-market-9309
Reviewed By This Is Article About Bubble Tea Market to Hit USD 3.39 Billion Forecast by 2027; Rising Preference by Health-conscious People to Boost Bubble Tea Industry Growth, Says Fortune Business Insights™ was posted on have 4 stars rating.