Expansion of franchise stores, investments, fundings, and new product launches are the key strategies of the bubble tea market players. Retrieved from NewspaperSG.14. Retrieved from NewspaperSG.9. Who are the leading players in the global market? Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. ", Nielsen, Important factors when considering a bubble tea purchase in Singapore in 2020 Statista, https://www.statista.com/statistics/1112472/singapore-bubble-tea-consideration-factors/ (last visited May 01, 2023), Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph], Nielsen, February 11, 2020. Statista. However, it was only in 2001 that bubble tea became phenomenally popular. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! 12. Customers also decide based on the product selection at stores, as well as the ease of access which means the number of stores a brand has, it said. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. A. The Straits Times, p. 4. Whether youre feeling something sweet, fruity, and refreshing, something soothing and tea-like, or a slushy smoothie like-drink, bubble tea has you covered. The Straits Times, p. 73. Then you can access your favorite statistics via the star in the header. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. Retrieved from NewspaperSG.7. Dr Emily Ortega, head of the Psychology Programme at the Singapore University of Social Sciences, said that bubble tea is "very much a social experience for many people". 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. We dont recommend anyone making it a daily indulgence. to incorporate the statistic into your presentation at any time. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fuel market growth. #1 HEYTEA Golden Osmanthus Oolong ($7.50) Photo from HEYTEA. According to research firm Allied Market Research, the global bubble tea market will jump from US$1.96 billion in 2016 to reach US$3.21 billion by 2023. Bubble tea | Infopedia - National Library Board Thanks for sticking with me in this huge post. [Online]. To use individual functions (e.g., mark statistics as favourites, set In addition, recently many Chinese brands have entered the region, it added. The types include milk tea, black tea, fresh fruit tea, smoothies or milkshakes, fresh milk, and salted cream. Theres a lot more to bubble tea than meets the eye, and weve discovered all of the reasons that its a global favorite. Were guessing you already know what bubble tea is. For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwans exports of pearl milk teas base ingredients (raw materials, packaging and machinery, and others) compared to 2018. Bubble tea is made by adding fruit syrup or milk to (usually cold) tea and then shaking the . Chun Shui Tang. According to Grab's data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. As a Premium user you get access to the detailed source references and background information about this statistic. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. The current valuation of the market is US$ 2.50 billion in 2022. Frustrated customers have to remember that the tapioca balls arent just an inexpensive filler; theyre an integral part of what makes bubble tea unique and fun. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. The Straits Times, p. 10. 15 Bubble Tea Stores That Are Leading the Industry Right Now | World 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. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. Consumer Shift toward Healthy Alternatives to Favor Growth. 8. Business Solutions including all features. Although there are plenty of bubble tea flavors to choose from, fruit teas tend to be the most popular. Based on bubble tea market forecast, the liquid component was the most prominent segment accounting for the highest share in the bubble tea market. You only have access to basic statistics. Bubble Tea Popularity Statistics Singapore - Emkan.me 14. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. South America is anticipated to grow in terms of sales volume of the products in the coming years. Art & Craft. Such challenges cumulatively hamper the growth potential of the global market. For instance, in September 2020, Chen Shucheng started a new bubble milk tea franchise in Singapore called Meme Xpress. Cassava flour itself comes from the cassava root, which is native to South America but has become a staple food in many African nations. "(This makes) it a great entry point for premium brands, Momentum Works said in a news release on Tuesday (Aug 16), adding that there are currently more than 60 active brands of bubble tea chains. With shops all around the world in many major cities, its easy to indulge your bubble tea craving when you want to! . Lek, E. (2007, August 20). Consuming Singapore: The obsession with bubble tea These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Total Starbucks locations globally 2003-2022, U.S. beer market: leading domestic beer brands 2017, based on sales, Revenue and financial key figures of Coca-Cola 2010-2022, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. In May 2013, it was discovered that the Sunright brand of tapioca balls, as well as other starch products from Taiwan used in bubble tea, contained maleic acid, a substance harmful to the kidneys. The Straits Times, p. 8. At this point in time, bubble tea was served in a cocktail glass,3 and customers drank the beverage sitting down in cafes or bubble tea huts.4 Bubble Tea Garden, in particular, served flavours such as Pearl Red Bubble Tea, Yam Shake, Honey Egg Yolk, Whisky Red Tea and Honey Peppermint.5 It attracted many students, largely Chinese-speaking and who came in groups, partly because it had a message board for customers to express their thoughts and communicate with one another.6Food fadAlthough bubble tea was well received, notably among the youth, when it was first introduced, it was only in 2001 that it became phenomenally popular. There has been speculation linking tapioca balls to cancer, though most claims have been refuted following extended research. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. Chewy tapioca balls or different flavored jellies are then added to give bubble tea the fun, chewy texture that it is known for! 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. It comes with the additional cost of $2500.00 contact sales. The consumption of bubble tea also improves the balance of vitamins and minerals in the human body due to the presence of various inclusions such as yogurt, cream, fruit bits, and others. Retrieved from NewspaperSG.6. The report covered all the points and was very detailed. And if you have a sweet tooth, its SO GOOD. Right on cue, eight bubble tea establishments in Singapore have launched new drinks. Contact us, Last week, it was announced that Singapore will soon require food and beverage outlets to, Nutrition labels for drinks high in sugar, saturated fat to be rolled out in practical manner: MOH, HPB, Nutrition labels required by end 2023 for freshly prepared drinks that are higher in sugar, fat content. As a Premium user you get access to background information and details about the release of this statistic. 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. Ive been drinking it a lot for the past few months and realised that my weight increased. 2. The black tea segment is expected to be the leading segment in the global market. 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. Followed by black tea, the green tea segment is expected to hold a major percentage of the market share. Arlina Arshad. Learn more about how Statista can support your business. Manufacturers are capitalizing on improving the functionality of boba drinks ingredients to cater to the rising demand from consumers. While bubble tea is enjoyed by people of all ages, it tends to be a global favorite among younger people. The bubble tea industry was valued at $2.2 billion in 2019. Bubble Tea Popularity Statistics Singapore; by palmebre Published: July 20, 2021 (2 days ago) Category. The beverage is now considered a mainstay due to its unique formulation. You can find bubble tea in these countries if youre traveling the world: Taiwan, Japan, South Korea, China, United Kingdom, Australia, Canada, United States, Germany, Mauritius, South Africa, Brazil, and more! The price might seem high, but you have to consider everything that goes into making it, which includes: On the surface, bubble tea seems like a simple drink. Bubble tea is extremely high in calories. A global addiction. However, the drinks popularity also contributed to its downfall. While consumers in Singapore are more health conscious, its not the same across other markets, it added. In, DBS Group Research. 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. Low, F., & Lee, H. M.(2011, March 27). Fruit Flavor Segment is Dominating Backed by High Consumer Preference. ", Latin America: yerba mate per capita consumption 2018, by country, Argentina: yerba mate export volume 2019, by destination, Argentina: yerba mate production 2010-2019, Latin America: yerba mate planted area 2020, by country. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. The global bubble teamarket holds a substantial scope for growthduring the forecast period. In Malaysia, Columbia Asia dietitian, Kong Woan Fei told local media that depending on the sugar used, one cup of bubble tea can contain at least 370 calories. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. This can be attributed to change in preference of consumers toward healthy beverages and better taste. European countries are just starting to understand the bubble tea craze, and with new dessert products in the making, the only way for this industry to go is up. This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. Far from game over: From boom to bust to boom again, bubble tea is back However, since the ease of lockdowns, governments have proposed several initiatives and strategies to help companies in recovering the losses across the globe.
