The bubble tea global market is predicted to be worth $4 million by 2023. This prediction was fueled by the introduction of new flavors by the food associations and manufacturers.
These measures are aimed towards improving the overall drinking experience. An example is Gong Cha, a popular bubble tea brand that recently introduced brand new flavors.
Back then, as reported by Alien Market research, " Global bubble tea, in 2016, was valued at an estimated $2 million with black tea dominating 42% of the entire bubble tea market."
Diving a little into the bubble tea history - this beverage is widely accepted globally. The tea and tapioca pearl are the major ingredients bubble tea contains.
With origin in Taiwan, bubble tea has earned lots of standard names like boba juice, tapioca pearl, bubble milk tea, and lots more.
The skyrocketed bubble tea industry is completely credited to its reasonable price and health benefits. New flavors introduced regularly expanded its market.
What are statistics saying about bubble tea ingredients?
The most popular types of bubble tea are white tea, oolong tea, black tea, and green tea. Accounting for over 1/3 of the global bubble tea, green tea is said to be the most lucrative.
This is solely attributed to its numerous health benefits such as preventing weight loss, reducing cholesterol, and reducing the risk of type 2 diabetes.
What is statistics saying about flavor?
The bubble tea flavor market is made up of chocolate flavor, coffee flavor, fruit flavor, and more.
The highest sales go to the fruit flavor because customers love their nutritional value, which is better than other flavors.
What is statistics saying about components?
The components of the bubble tea market include creamer, sweetener, flavor, liquid, tapioca pearl, and more. Liquid dominates the bubble tea market as it is the primary ingredient of the tea.
Key statistics in the bubble tea market
By 2023, the value of bubble tea is expected to rise at a CAHR of 8.20%.
The chocolate flavor may rise to 8.20% CAGR in value.
Europe is predicted to record the highest growth at a CAGR of 9.10%.
57% of the total bubble tea market was dominated by North America, and New York took over 97% of the market.
When it comes to value, Asia-Pacific and North America dominated 83% of the global bubble tea market.
The popularity of bubble tea and its affordable prices in locations like Queens, Manhattan, and New York has increased its domination.
Europe is predicted to have the highest growth, next is Asia-pacific, mainly because of its important health benefits.
Gong Cha is one of the major companies talked about in this report. The brand is highly reputable at serving one of the best bubble tea in NYC, coupled with several locations in the United States.
Gong Cha will launch the Little Star Jelly Series and Chocolate lava series by February. This series promises to be yummy and delicious. Don't miss out!
There's also a new Gong Cha store opening in Quincy, MA in January ending.
Address: 7 Beale Street, Quincy, MA.
Gong Cha Milk Tea Series To Keep You Warm This Winter
Winter is here. It's time to put down your favorite bubble tea and ignore your appetite, since the last thing you want to do is drink anything cold, right? Bubble tea is designed to be enjoyed at any time of the year, regardless of the season. While the older variety of the tea is more popular, a series of warm bubble tea can be enjoyed in the winter.
The Best Boba Tea On East Coast
Boba tea has been around for several centuries and decades and it has retained and attained a global position as a widely accepted product and drink. In 2017, the popularity of the drink skyrocketed after been accepted in the western countries with bubble tea shops like Gongcha reporting a huge boom in business in top countries in the world.
Most Popular Bubble Tea Store in New York
The long wait is finally over for residences of New York who have been anticipating a new Gong cha Bubble Tea shop. We are happy to announce our new store open at Woodbury Common Premium Outlets (714 Bluebird Court Unit# 714, Woodbury, NY 10917). Additionally, we have a new store opening soon in New York City located at 2061 Broadway, New York, NY 10023.
