This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. Bubble Tea Popularity Statistics Singapore DOWNLOAD: https://tinurll.com/2iwiym bubble tea popularity statistics singapore 28d79c4b43 Reallusion CrazyTalk Animator 3.12.1719.1 MAC OS X Download Harry Potter ATOTP Apun KaGames exe Oceane Dreams Sets 14 18 MediaHuman YouTube Downloader 3.9.8.19 (0901) [artc Like Repost Share In some instances, a hot version of the tea is also available. Please do not hesitate to contact me. The drink is typically made from a combination of milk and tea and topped with pearls such as tapioca balls, popping boba (made from water, sugar and flavourings using a culinary process called spherification), grass jelly, fruit jelly, etc. In addition, due to the presence of artificial preservatives in bubble tea, consumers are changing their preference toward organic beverages, which hampers the growth of the global bubble tea market. bubble tea popularity statistics singapore; how many bubble tea brands in singapore; Bubble Tea Popularity Statistics Singapore . Health experts highly recommend drinking bubble tea in moderation, and if possible, to opt for the less sweet or low-calorie varieties. Access to this and all other statistics on 80,000 topics from, Show sources information Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. 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. Green tea has shown long-term energy inducing properties and has a positive effect on the regulation of body weight. Chief operating officer ofqlub,Sik Hoe Yong, noted that many young people in Southeast Asia want to open bubble tea shops someday. We value them as a research company worthy of building long-term relationships., Well done Fortune Business Insights! "Number of Bubble Tea Outlets in Singapore in 2019, by Brand. Learn more about how Statista can support your business. After decades of slowly increasing in popularity, the big bubble tea boom happened in 2018. Retrieved from NewspaperSG.11. Bubble tea can be found in over 30 countries. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. By flavor, the market is classified into coffee, fruit, chocolate, original, and others. Furthermore, the increasing working class population in developing countries paired with rising shopper health consciousness is supporting the market growth. The specialty of milk tea is growing due to its ease of customization with various tea bases and toppings such as jellies, fruit bits, syrups, and tapioca balls. All these aspects necessitate the manufacturers to develop premium quality teas by keeping the consumer demands in mind. Using new techniques such as molecular nitrogenation also adds innovation to the traditional recipe, thus further opening numerous opportunities for market growth. This is a very good piece of work and will be very helpful to us going forward. According to the Food and Agriculture Organization (FAO) of the United Nations, Nigeria is the largest exporter of cassava at 21% of the worlds amount. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. Furthermore, the shift of millennials toward such products owing to their demand for superior quality tea varieties with unique flavor offerings has aided in the global bubble tea market growth. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Because of its proximity to Taiwan, where bubble tea was created, China quickly became a fan of the sweet beverage. The data offered to us was exactly what we were looking for. The Straits Times, p. 78. Single User License, Five User License & Enterprise User License. https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, Yummy Town (Cayman) Holdings Corporation (Happy Lemon) (Taiwan), Granular Research on Specified Regions or Segments, Companies Profiled based on User Requirement, Broader Insights Pertaining to a Specific Segment or Region, Breaking Down Competitive Landscape as per Your Requirement, Other Specific Requirement on Customization. Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. Retrieved from NewspaperSG.14. Strong dependency on Asian countries to source raw materials acts as one of the major restraints in the market. Whats your favorite bubble tea base to start with? This was found in a study which provides analyses and insights into the business dynamics behind bubble tea. It comes with the additional cost of $2500.00 contact sales. Taiwanese and homegrown brands have long dominated the Southeast Asian bubble tea market, the study found. The United States and Australia were both introduced to bubble tea in the mid-1990s, and it has been growing in popularity ever since. This file photo shows a group of girls drinking bubble tea. Although the drink was originally created in Taiwan, its signature ingredient is primarily grown in Nigeria, Thailand, Indonesia, and Brazil. Register in seconds and access exclusive features. However, it was only in 2001 that bubble tea became phenomenally popular. 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. Exactly how popular is bubble tea in Singapore? If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. Retrieved from http://chunshuitang.com.tw/3. Retrieved from NewspaperSG.9. Profit from the additional features of your individual account. The Straits Times, p. 8. AVA suspends two more Taiwanese juice brands. Asia Pacific is expected to dominate the market during the forecast period. ", 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. Get detailed COVID-19 impact analysis on the Bubble Tea Market. Bubble tea, first introduced in Taiwan in the 1980s has done on to become a global phenomenon made popular by Internet foodies. 2-3. Retrieved from NewspaperSG.8. In Asia, however, it is equally popular among men and women and is seen as a cultural phenomenon. Virtually any fruit that you can think of can be enjoyed in a bubble tea drink. The price for bubble tea depends on where you get it. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. Bubble tea is a beverage originating from Taiwan comprising tea with fruit syrup or milk added, and then shaken. That number increases when you go up in size to 469 calories and only gets worse as you add in more toppings or extra flavors. Bubbling over. Upgraded but still having issues? 5. The nostalgic flavour of Uncle JiaJia liang teh has now taken the form of bubble tea! If you are an admin, please authenticate by logging in again. (2002, January 13). Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. In 2019, the black tea segment accounted for more than half of the share in the total bubble tea market and is expected to grow at a CAGR of 7.50% throughout the forecast period. With 250 different flavors, it makes sense that there would be different bases to the teas. These measures are part of efforts to help consumers to make more informed, healthier choices,Health Minister Ong Ye Kung said. The beverage is now considered a mainstay due to its unique formulation. Thailand came in second, with US$749 million through more than 31,000 bubble tea stores and other retail channels. A. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. It slowly spread throughout Asia before gaining popularity in the U.S. and across the globe. Yet, few players have managed continuous profitability at a large scale.. It cited Nayuki, the first new tea brand to go public, whose market cap plunged by more than 70 per cent since it listed on the Hong Kong stock exchange. Important factors when considering a bubble tea purchase in Singapore in 2020 [Graph]. These pearls, that looks like dark bubbles, give the tea its name. And if youre looking for all the facts and figures that back up our claim, you have this blog post. Such initiatives further support the immense growth opportunities for the companies. Hoe, P. S. (2013, May 27). Bubble tea has emerged as one of Gen Zs trademarks as its consumption is highly witnessed by the young generation as compared to any other age group. Number of bubble tea outlets in Singapore in 2019, by brand [Graph]. Thailand leads in bubble tea consumption at an average of 6 cups per person per day. Thanks for sticking with me in this huge post. The campaign will be extended due to the tremendous profit achieved, which motivates the company to broaden its product offerings and brand position. Learn more about how Statista can support your business. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. "(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. Pandemic disrupted the entire world and affected many industries. The key players in the industry receiving high levels of popularity and response from customers are franchising their businesses into different locations. Teens use tea house notice board to talk to each other. Of the 30 countries that enjoy bubble tea, most are in Asia. Perhaps bubble tea brands should work towards designing more nutritious versions of their drinks without losing the signature taste and appeal which has made the drink so popular in Southeast Asia. Since then, however, bubble tea has expanded across the rest of Asia, and there was a sudden explosion of popularity during 2018, particularly in Singapore. The study also highlighted that pricing is not the only factor that affects customers purchasing decisions. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). For instance, in August 2021, according to a study by the Business Times Newspaper, Southeast Asia spent around USD 3.7 billion on launching milk tea and such similar drinks, owing to the ever-growing demand from youth. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. What are the key factors driving the market? What may surprise you though is the amount of sugar! under and CEO Li Jianggan said the bubble tea market is fragmented, with enough room for larger and smaller players to co-exist and flourish. Bubble tea shops, or Boba tea as it is frequently called in America, can be found in almost every major city across the country. The Straits Times, p. 73. Chart. Virtually any flavor that you can imagine exists with bubble tea. A paid subscription is required for full access. The largest market in the region is Indonesia, with an estimated US$1.6 billion annual turnover. However, the study found that despite the high margins, few bubble tea stores are profitable. The first bubble tea shop was Bubble Tea Garden in Marina Square, owned by Ann Chew. 1. Business Solutions including all features. In a survey of Singaporean bubble tea consumers in 2020, 69 percent of respondents stated that taste was their main consideration when purchasing bubble tea, while 61 percent stated price. But the most important thing to love is that its a beverage category that has grown by leaps and bounds over the past ten years or so, with seemingly no end in sight. On the contrary, introduction of various new flavors and blends and high demand among young population for a variety of teas are expected to provide lucrative opportunities for the market expansion.The bubble tea market has been segmented on the basis of on base ingredient, flavors, component, and region. The Straits Times, p. 73. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Thailands consumers take top spot for consuming six cups of bubble tea per person per month, followed by the Philippines with an average of five cups. Bubble tea typically sells for about $3 to $5 for a 16- to 20-ounce serving. The bubble tea market in China is estimated to have an annual turnover of US$20 billion, saturating and hyper competitive.. Ho, S. B. A. The Asia Pacific market held the largest share and was valued at USD 0.96 billion in 2022. Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. Also, due to the strong dependency on Asian countries to source raw materials, such as tapioca balls from Taiwan, hinders the production process and impacts their overall operations. New bubbly a hit with youth here. Looking forward to work together on similar projects, We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The key players alsorelyon product launch to improve their product portfolio and stay relevant in the global market.The key players profiled in thereport include Bobabox Limited, Bubble Tea House Company, Cuppotee, Fokus Inc., Gong Cha, Lollicup USA, Inc., Sumo's (M) SdnBhd, Ten Ren's Tea Time, The Bubble Tea Company, and Troika JC. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. 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. 13. In. The Straits Times, p. 15. 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The Agri-Food and Veterinary Authority (AVA) suspended the brands, resulting in a few bubble tea chains temporarily being unable to sell their fruit teas.13In 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.14 As a result, some bubble tea chains stopped selling pearls with their teas for the time being.15 Such health scares negatively affected bubble tea sales, although customer confidence returned after a period of time.Timeline1992: Bubble Tea Garden, Singapores first bubble tea caf, opens.2001: Bubble tea reaches the height of its popularity.2007: Renewed popularity of bubble tea.2011: Renewed popularity of bubble tea. For instance, in April 2022, U.S.-based start-up Bubluv Inc. launched tapioca starch and konjac-based boba tea in three flavors, black milk tea with tapioca pearls, matcha soy latte with tapioca pearls, and oolong guava with tapioca pearls. (2001, August 31). Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. 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. Available: https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, Number of bubble tea outlets in Singapore in 2019, by brand, Available to download in PNG, PDF, XLS format, Leading black tea exporters worldwide 2021, Area harvested for tea in India 2010-2020, Production of tea in north India FY 2014-2022, Production volume of tea in south India FY 2014-2022, Production of tea in India FY 2021, by category, Tea production volume in India FY 2022, by grower size, Export value of tea and coffee from India FY 2011-2022, Indian tea exports value FY 2022, by destination country, Indian tea exports volume FY 2022, by destination country, Import value of tea in India FY 2014-2022, Import volume of tea into India FY 2014-2022, Wholesale Price Index of tea in India FY 2012-2022, Average price of tea in India FY 2022, by category, Retail price of tea India 2021, by major city, Consumption volume of tea in India FY 2015-2022, Total revenue of Hindustan Unilever 2013-2022, Tata Consumer Products' total revenue FY 2015-2022, Total revenue of McLeod Russel FY 2013-2022, Total revenue of Goodricke Group Ltd FY 2013-2022, Italy: ready-to-drink tea sales value 2016-2017, Ready to drink blended tea production volume in Japan 2013-2021, Tea market: value growth in the United Kingdom (UK) 2014, by category, Share of past-day tea consumers in Canada 2009-2020, Preferred time for bubble milk tea on weekdays in Vietnam 2019, by age group, Frequency of purchasing hot beverages for home consumption in France 2017, by type, Preferred time for bubble milk tea on weekends in Vietnam 2019, by age group, Bubble tea orders as share of daily orders on GrabFood Indonesia 2018, Tea sales value in the United Kingdom (UK) 2010-2014, Leading factors influencing bubble tea purchase Singapore 2020, Brazil: ready-to-drink tea production volume 2018-2021, Brazil: per capita consumption of ready-to-drink tea 2018-2021, Cost of one cup of bubble tea Singapore 2018, by major brand, Market share of tea and coffee drinks by distribution channel in Spain 2019, Tapioca and substitutes import volume to Japan 2016-2021, Find your information in our database containing over 20,000 reports. (2002, January 13). Are you interested in testing our business solutions? 87% of American millennials drink tea, including bubble tea. "Important Factors When Considering a Bubble Tea Purchase in Singapore in 2020. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. Apart from the U.S. and Asian countries, the trend of milk tea is also extensively growing amongst individuals residing in the Middle East and Africa.