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Bubble Tea Market size was estimated at $2.1 billion in 2020, projected to increase at a CAGR of 6.8% during the forecast period 2021-2026. Apart from the variety of flavors available, one of the primary elements fueling the expansion of bubble tea Industry is the health benefits. Bubble Tea is a famous non-alcoholic beverage drink that first became popular in Taiwan in the 1980s. Bubble tea is also known as pearl milk tea or bubble milk tea. The main ingredient in bubble tea is tea, which is combined with flavorful chewy tapioca balls manufactured of tapioca starch. Bubble tea is extremely popular in Asian countries like China, Thailand, and Taiwan, and it is only now beginning to spread to other parts of the world. There is an increasing number of people who are concerned about their health and fitness, as well as a growing number of people who drink tea.

Competitive Landscape:

The top 5 players in the Bubble Tea industry are –

1. Teapioca Lounge

2. OCOCO International Co., Ltd.,

3. Kung Fu Tea

4. Lollicup Coffee & Tea

5. Vivi Bubble Tea

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Segmental Analysis:

1. Asia-Pacific Bubble Tea Market accounted for 38% of total sales. Asia-Pacific is expected to lead the bubble tea market owing to its high production and consumption of various types of tea, including oolong tea, black tea, and green tea.

2. According to data published by the United States Food and Agriculture Organization (FAO), around 3.8 billion gallons of tea were consumed in the United States in 2016, with black tea accounting for 80% of consumption, followed by green tea (16%), and oolong tea, white, and dark tea accounting for the remainder (4%). According to the United Nations’ Food and Agricultural Organization, the United States is the world’s fourth-largest importer of tea, drinking tea in about 80% of households.

3. Bubble Tea Market is segmented into Oolong Tea, Green Tea, Black Tea, White Tea, Black Tea, and Others. Black Tea segment is accounted for the largest revenue market share in 2020 owing to its rich aroma, and the true natural flavor of black tea is credited with its expansion.

4. The expanding demand for coffee as a healthy energy drink, coffee is expected to be the fastest-growing taste segment, with a CAGR of 7.4% from 2021 to 2026.

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Market Drivers and Challenges:

1. Availability of Wide Range of Flavors is Boosting the Market Growth: Bubble tea is also known as bubble milk tea, boba juice, boba tea, or pearl tea by people all over the world. Bubble tea, often known as “pearl milk tea,” is brewed with conventional tea ingredients and chewy tapioca balls.

2. Rising Awareness on Health Benefits of Consuming Oolong Tea is Boosting the Market Growth:Obesity and diabetes has driven consumers to seek out sugar replacements such as stevia, agave, and honey, which are connected to a high sugar intake.

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