Bubble Tea Market Size, Share, Growth Analysis, By Base Ingredient(Black tea, green tea), By Flavours(Original flavor, fruit flavor), By Component(Flavor, creamer) - Industry Forecast 2024-2031

Bubble Tea Market size was valued at USD 2.52 billion in 2019 and is poised to grow from USD 2.75 billion in 2023 to USD 5.42 billion by 2031, growing at a CAGR of 8.9% in the forecast period (2024-2031).

Bubble tea is gaining traction in developing markets due to its increasing popularity. While emerging nations, for example, China, Brazil, and India are making rapid progress, developing nations such as the U.S., Canada, and Germany have a higher preference for this tea. In addition, the increasing consumption of healthy beverages such as green tea, black tea, oolong tea, and white tea by consumers as well as their increasing health consciousness is driving the market growth. Additionally, the market is growing due to the increasing consumption of flavored bubble tea by the younger generation. The market has grown significantly because of dynamic advertising and celebrity endorsements. In addition, it is becoming more and more popular due to its distinctive taste in various flavors including fruit, chocolate, and coffee. Ice, sugar, and flavoring syrups are added to these drinks when they are served. Increasing preference for tea, coffee, and other hot beverages compared to carbonated beverages is expected to boost the demand for the product.

There are many restrictions and hurdles that need to be overcome that will hamper the expansion of the market. During the forecast period, growth is expected to slow down due to factors including the trend of coffee consumption and the sugar content of these beverages which may lead to health problems. However, the continued development of technology, the advice of health professionals, and the unrealized potential to expand the market, have boosted market growth.

US Bubble Tea Market is poised to grow at a sustainable CAGR for the next forecast year.