Bubble Tea Market by Base Ingredient (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original Flavor, Coffee Flavor, Fruit Flavor, Chocolate Flavor, and Others), and Component (Flavor, Creamer, Sweetener, Liquid, Tapioca Pearls, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global bubble tea market generated $2.4 billion in 2019, and is expected to reach $4.3 billion by 2027, growing at a CAGR of 7.8% from 2020 to 2027.

Rise in health consciousness, surge in adoption of healthy beverages including green tea, oolong tea, black tea, and white tea among consumers, and consumption of flavored bubble tea among young generation drive the growth of the global bubble tea market. However, excessive inclusion of sugar content in drinks that causes health issues and trend of coffee consumption hinder the market growth. Contrarily, emergence of new flavors & blends along with increasing demand among young population for different types of teas provide lucrative opportunities in the coming years.

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The report segments the global bubble tea market based on base ingredient, flavors, component, and region. By base ingredient, it is divided into black tea, green tea, oolong tea, and white tea. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

According to the bubble tea market analysis, in 2019,theblack tea segment generated the highest revenue and is expected to remain dominant throughout the forecast period. This can be attributed to rise in the popularity of bubble tea with black tea as the base ingredient across the globe. However, the green tea segment is expected to grow at the highest CAGR during the forecast period. This is due to growing number of health-conscious consumers worldwide.

According to the global bubble tea market trends, the fruit flavor segment was the most prominent segment accounting for the highest share in the bubble tea market. This can be attributed to change in preference of consumers toward healthy beverages and better taste. However, the chocolate flavor segment is expected to witness highest growth, owing to increase in its popularity of in all age groups.

On the basis of component, the liquid component segment generated maximum revenue in 2019 and is expected to continue this trend throughout the forecast period. This can be attributed to the availability of various options such as combination of various liquid flavors and syrups. However, the sweeteners segment is expected to grow at the highest CAGR duringthe forecast period, owing to availability of organic sweeteners such as honey-based sweeteners for bubble teas.

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Based on region, North America accounted for more than half of the global bubble tea market in 2020, and is estimated to maintain its dominant position by 2027. This is attributed to rise in number of tea and coffee consumers in the region. However, Europe is estimated to maintain the highest CAGR of 8.7% from 2020 to 2027, owing to surge in tourism activities, health consciousness among young population, and prominence of the bubble tea in the region.

The leading market players analyzed in the global bubble tea market report include Share Tea, Fanale Drinks, ChaTime, CoCo Fresh, Huey-Yuhe Enterprise, Quickly, Kung Fu Tea, BobaLoca, Bubble Tea Supply Inc., Happylemon, T Bun International, and Grand Chainly. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their stand in the industry.

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