bubble tea popularity statistics singapore

Dr Emily Ortega, head of the Psychology Programme at the Singapore University of Social Sciences, said that bubble tea is "very much a social experience for many people". A. Moreover, apart from teas for sale, there are plenty of fruit juices and sometimes coffee options on the menu of bubble tea shops. Retrieved from NewspaperSG.9. https://www.grandviewresearch.com/industry-analysis/bubble-tea-market, https://foodinstitute.com/focus/survey-millennials-gen-z-big-fans-of-bubble-tea/, https://youthinsight.com.au/brands/more-girls-aware-of-bubble-tea-than-boys/, https://www.cnn.com/travel/article/taiwan-bubble-tea-origins/index.html, https://www.duluthnewstribune.com/8-things-you-might-not-know-about-bubble-tea-and-other-unexpected-holidays-this-week, https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564, https://www.organicfacts.net/health-benefits/herbs-and-spices/bubble-tea.html, https://chinamarketadvisor.com/what-is-boba-and-why-is-it-so-popular/, https://theaseanpost.com/article/southeast-asias-bubble-tea-craze, https://www.worldteanews.com/Insights/millennials-and-gen-z-drive-21st-century-tea-preferences, https://www.honestfoodtalks.com/bubble-tea-flavors-boba-toppings/, https://www.healthline.com/nutrition/boba-cancer, https://mtalvernia.sg/education/whats-in-my-bubble-tea/, Tea thats infused with milk or another liquid, Artificial sweetener like stevia or sugar (more on this below), Special straws designed to make the best bubbles possible. Upgraded but still having issues? In. Retrieved from NewspaperSG.10. 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. As a result, bubble tea lost its popularity by 2003 and many shops folded. Lek, E. (2007, August 20). According to a recent consumer study, 94% of people between ages 20 and 29 have purchased bubble tea within the last 3 months. (February 11, 2020). Currently, you are using a shared account. A typical serving of bubble tea at a chain might cost $3 to $5 for a 16- to 20-ounce cup. The major countries in each region are mapped according to their revenue contribution to the global bubble tea market. The market is expected to grow at a CAGR of 7.51%, during the forecast period. All prices in USD, To ensure high-level data integrity, accurate analysis, and impeccable forecasts, On-demand customization of scope of the report to exactly meet your needs, Targeted market view to provide pertinent information and save time of readers. Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. According to a recent study, the bubble tea industry is expected to grow by almost $2 billion to a whopping $4.3 billion by 2027. Modern Asian Desserts expanded its business in the country by introducing various boba milk tea outlets. Now, there are bubble tea shops everywhere, and many companies have started to offer other bubble tea treats in the form of desserts to expand the marketplace. The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. As a Premium user you get access to background information and details about the release of this statistic. Brands, such as Koi The Co, Moge Tee, and M.A.D. Here is the history of bubble tea in Singapore. Emerging countries such as China, India and Brazil growing with the CAGR of 8%, 9.5%, and 8.3% respectively. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. The industry shows no signs of slowing down, and in fact, appears to be growing exponentially with every passing year. The bubble tea industry has a good product gross margin of 60 per cent to 70 per cent, the release said. Fruit Flavor Segment is Dominating Backed by High Consumer Preference. (2002, January 13). Chatime, Gong Cha, Coco Fresh Tea & Juice, and Lollicup USA, Inc. are the leading players in the market. The beverage has experienced a few resurgences in popularity, such as in 2007 and 2011.11 There were more than 10 chains and 500 outlets selling bubble tea in 2011. The Straits Times, p. 30. October 22, 2019. Retrieved from NewspaperSG.The information in this article is valid as at 28 January 2014 and correct as far as we can ascertain from our sources. Keep reading to discover everything weve uncovered about bubble tea. In some instances, a hot version of the tea is also available. (1992, May 27). Hoe, P. S. (2013, May 27). In the next five years, the bubble tea industry is expected to grow by nearly 54%. This beverage has undergone a few waves of popularity in Singapore. Request a Free sample to learn more about this report. Copyright Mediacorp 2023. You can only download this statistic as a Premium user. Moreover, as per researches conducted by different reputed organizations, tea is proven to prevent different type of cancers, lower cholesterol, help boost immunity, facilitate weight loss, and prevent neurological diseases.This indicates that the health benefits associated with bubble tea are anticipated to drive the overall market. Due to intense competition and price wars, bubble tea lost its popularity by 2003 and many shops folded. 13. 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. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be. The Straits Times, p. 15. Profit from the additional features of your individual account. Thanks for sticking with me in this huge post. A. 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. The growing interest of consumers in innovative beverages with bold flavors and their willingness to experiment with various flavors is captivating the consumers attention, which contributes to fuel market growth. T&C*. The report was very accurate and as per my requirements. The global bubble tea market was valued at US$1.96 billion (S$2.67 billion) in 2016 and is projected to reach US$3.21 billion by 2023, according to research firm Allied Market Research. A bubble tea. Expanding Range of Products to Target Younger Individuals to Boost Growth. The size of the global Bubble Tea Market in 2019 was $2,407.6 million. Some specialty shops have menus with smaller sizes and prices as low as $2 to $3 per serving. Chart. 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. For instance, in April 2020, a bubble tea company Chatime launched oat milk-based tea, such as Grass Jelly Roasted Milk Tea and Chatime Pearl Milk Tea, for lactose intolerant consumers. Presently, themarket is moving toward growing stage and is expected to garner steady growth in major markets, which include the U.S., Germany, China, India, and Brazil. Additionally, they can be ordered with fruit or boba, both of which are high in added sugar. Such challenges cumulatively hamper the growth potential of the global market. The Straits Times, p. 30. With 38 grams per 16oz beverage, bubble tea should be enjoyed in moderation. Art & Craft. We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Moreover, higher expenditure of consumers on healthy beverages adds to the popularity of bubble tea in theregion. Book your free consultation and let our research experts help you with your needs/problems. The forecast period in the global bubble tea market report is 2019-2027. 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. Retrieved from NewspaperSG.11. However, it was only in 2001 that bubble tea became phenomenally popular. Currently, the major bubble tea chains are Koi and Gong Cha. The bubble originally referred to the froth created by shaking the drink, though now it is also understood as referring to the pearls that are added. This file photo shows a group of girls drinking bubble tea. It looks quite comprehensive and the data is exactly what I was looking for. 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. Thank you Fortune Business Insights for your efforts and prompt response, I had a great experience working with Fortune Business Insights. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. As a Premium user you get access to the detailed source references and background information about this statistic. 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. There are 250 different flavors of bubble tea. The number of bubble tea shops grew to at least 5,000 by 2002. But in case you dont Its tea served with a giant chewy ball of tapioca at the bottom of the cup. For instance, in September 2021, Dubai witnessed the opening of various new tea outlets serving boba tea across the country. Currently, you are using a shared account. Show publisher information Teens use tea house notice board to talk to each other, AVA suspends two more Taiwanese juice brands, Unapproved additive found in 11 food products, Pearls dropped by some bubble tea shops. The peak of the fad was from March to October 2001, when shops reportedly sold as many as 800 to 1,000 cups a day.7 Major chains included Cool Station, Quickly and Milk Girl Ice Cup.8However, the drinks popularity also contributed to its downfall. This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. ", 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. Retrieved from NewspaperSG.4. Ethnic foods In 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. Contact us, Last week, it was announced that Singapore will soon require food and beverage outlets to, Nutrition labels for drinks high in sugar, saturated fat to be rolled out in practical manner: MOH, HPB, Nutrition labels required by end 2023 for freshly prepared drinks that are higher in sugar, fat content. 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. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. Its iced or hot black or green tea mixed with chewy tapioca balls that are often flavored. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships).

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