Bubble Tea Market to Reach USD 3.39 Billion by 2027; Dr. Bubbles Plans to Triple its Franchise Network in India

The global bubble tea market size is projected to reach USD 3.39 billion by the end of 2027. The rising launch of unique formulations and flavors of boba tea across the globe is expected to attract more consumers. Fortune Business Insights™ presents this information in a new study, titled, “Bubble Tea Market Size, Share & Covid-19 Impact Analysis, By Type (Black Tea, Green Tea, Oolong Tea, and White Tea), Flavor (Original, Fruit, Chocolate, Coffee, and Others), and Regional Forecast, 2020 – 2027.” The study further mentions that the market stood at USD 2.02 billion in 2019. But, it is set to exhibit a CAGR of 7.2% during the forecast period between 2020 to 2027.

Secret Recipe Unveils Eight Innovative Flavors in its New Boba Series

In June 2019, Secret Recipe, a Malaysian halal-certified café chain company announced that it recently joined the trend of boba series by introducing 8 different flavors. The new series includes Boba Kopi-C, Boba Milk Tea, Boba Midnight Blue, Boba Caramel Milk Tea, Boba Signature Fruit Tea, Boba Cham, Boba Brown Sugar with Milk, and Boba Brown Sugar Milk Tea. A regular cup would cost RM 6.50. However, not all outlets of the company would have this new series.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564

Possession of Beneficial Properties to Accelerate Growth

With the rising intake of sugar, the prevalence of diabetes and obesity is also increasing at a fast pace across the globe. Therefore, consumers are inclining towards sugar alternatives, such as honey, agave, and stevia. These natural sweeteners are nowadays being added to the bubble tea for replacing and lowering the intake of sugar. Also, bubble tea possesses a few beneficial properties. It is anti-carcinogenic, anti-inflammatory, and antioxidant. However, the increasing availability of several types of coffees, such as sparkling canned coffee, cold brew, nitro cold brew, and snap chilled may hinder the bubble tea market growth in the near future.

Key Players Focus on R&D Activities to Introduce New Variants of Tea

The market houses some of the most popular companies, such as Gong Cha, Bubble Tea House Company, Chatime, Lollicup USA Inc., and CuppoTee Company. They are mainly investing huge sums in research and development activities to come up with new variants of bubble milk tea in the flourishing global market.  

Fortune Business Insights™ lists out the names of all the reputed bubble milk tea producers operating in the global market. They are as follows:

• Chatime Group (Taiwan, China)


• Bubble Tea Supply Inc. (Hawaii, United States)


• Gong Cha (Taiwan, China)


• CoCo Fresh Tea & Juice (Taiwan, China)


• Quickly (Taiwan, China)


• Kung Fu Tea (New York City, United States)


• Tiger Sugar Korea (Seoul, South Korea)


• Boba Loca USA Inc. (United States)


• Lollicup USA, Inc. (United States)


• Happy Lemon (United Kingdom)

A Notable Industry Development-

• July 2019: Dr. Bubbles, an innovative food & beverages chain based in India is planning to triple its franchise network across India in the coming years. This expansion plan would help the company to become the best provider of bubble tea in the country. It serves a wide variety of cold and hot beverages.

Further Report Findings-

• In 2019, the black tea segment, based on type, earned 41.70% in terms of market share, whereas China generated 38.13% share of the segment. This growth is attributable to the increasing demand for natural and organic beverages. Also, the high preferences by health-conscious consumers for this type of tea would boost growth.


• Asia Pacific procured USD 823.90 million in terms of revenue in 2019. Taiwan and Vietnam would be the major contributors to this growth.


• Europe and North America would also showcase significant growth in the coming years on account of the surging consumption of bubble tea in these regions.   

The global market for boba tea can be segmented in the following way: