Agriculture Industry Today
Bubble Tea Market Revolutionized the Beverage Industry Business and Grows into Mainstream, Asserts MRFR
Bubble Tea Market Research Report - by Tea Type (Black Tea, Green Tea, Rum, Oolong Tea, White Tea and others), by Milk Type (Dairy and Non-Dairy), by Jelly Type (Tapioca Pearls, Basil Seeds, Fruit, Gelatin and other), by Product Type (Smoothies, Milkshakes, Ready-to-Mix and others) and Region - Industry Forecast to 2023
Published 11 December 2017
Bubble Tea Market – Overview
Bubble tea was originated in Taiwan, more than two and half decades ago, and had hit the beverage industry. The market has expanded from Taiwan to other Asian countries and eventually reached North America and Taiwan. There are increasing number of coffee and tea shops in Asia selling fresh bubble tea. Typically, black tea, green tea, white tea or even coffee forms the base of bubble tea and is quite popular in Hong Kong, Taiwan, and China. Bubble tea market is likely to have the competitive edge in future growth momentum as sales volume are projected to increase through 2018 and beyond.
Globalization and urbanization has significantly changed the dietary pattern and urban life has encouraged consumers to opt for healthy lifestyle. The changing lifestyle and evolving consumption pattern defines the consumers’ healthy consumption choices in the modern world which supports the growth of Bubble tea Market. Market players have been experimenting with their beverage menus and diversified their offerings while including fruit- and tea-based bubble tea, offering consumers the variety they crave in a chained dining experience. Tea drinkers consider taste as the primary factor in making buying decision at a restaurant or cafe as this variable has high degree of correlation to quality and flavour preference. There are myriad of factors including price, time of day, weather, convenience, flavour preferences for both hot and cold consumption and health which drives the tea consumption and industrial players consider all these factors to strategize on product development and product positioning. Various Tea providers at various foodservice outlets focus on flavour expansion and product diversification. Bubble tea is gaining popularity as consumers want to keep experimenting with the various available flavours, for instance, Honeydew flavored bubble tea is quite popular across the globe. Market players have been focusing on focus on R & D investment leading to innovations in product line of the Bubble tea. New varieties with better formulation and product development have attracted more consumers towards the Bubble tea and its sale surged globally. Quirky packaging and attractive tapioca kits are the major trends in the market. Most of the tapioca kits include wide straws, tea powder mix, ready to use tapioca balls, and optional sweetener is available on various online retail portals.
Strong performance of franchising business over the years have been leveraging on increasing consumer demand in beverage foodservice market. Owing to rising disposable income, convenience & changing lifestyle leading to changing consumer needs & their consumption patterns, there is ample scope of market growth in Bubble Tea industry. With growing tea café culture and the mounting pressures of life and stress at work, consumers want to spend time quality time at cafes and relax; such factors have created opportunities for bubble tea industry to grow.
Receive a Sample of Report @ https://www.marketresearchfuture.com/sample_request/3953
Bubble tea holds huge potential and holds ample scope of growth during the forecast period. Most food and drink trends have very short life spans, however it doesn’t stand true in case of bubble tea, which is gaining popularity over the years. Also, there are growing number of bars & pubs serving alcoholic bubble tea owing to the high demand for innovative bubble tea products. Availability of diverse bubble tea type and improvement in bubble tea formulation further induce the demand of bubble tea. However, survival and maintaining market position pose threat to the manufacturers and sourcing of high quality Boba’s and the skilled manpower to prepare bubble tea are the major challenges faced by market players.
Latest Industry Updates:
November 2017, Bubble tea retailer Gong Cha aims to double its Kiwi stores for 2018 and plans to lift its team from 30 staff to 50. Gong Cha is making significant investment in New Zealand to strengthen its market position as there increasing demand for Asian-style tea with tapioca pearls.
Bubble Tea Market - Competitive Analysis
Bubble tea market is moving ahead in lifecycle chain and pacing to its next development phase. The industry is fragmented with few entry barriers. The concept ‘survival of the fittest’ plays a critical role in defining the success for market players.
Bubble tea market players’ aims to take full advantage of huge consumer demand and are focusing on supply chains management, cost cutting and controlling losses. With industrial players aiming to capture a considerable share of the market as early as possible, they are competing and experimenting with various advantage points from both supply and demand side. Manufacturers are also collaborating with third parties to boost sales and business productivity. Also, various technology companies have been providing Point of Sale (POS) software to restaurants and coffee shops. Few companies are heavily investing in R&D and indulge in staff training and selective about using higher quality ingredients.
Manufacturers are also investing in the optimal strategies including marketing schemes such as price reduction via discount codes, referral codes, happy hours, and distributing few samples to encourage consumers to experiment and try new brands. The key market players profiled in Bubble tea are Bubble Tea House Company (U.K.), Bubblelicious Tea Ltd. (U.K.), Lollicup USA Inc. (U.S.), Sumo's (M) Sdn Bhd (Malaysia), CuppoTee Company (Taiwan), Ten Ren's Tea (Taiwan) and Gongcha (Hong Kong).
Bubble Tea Market – Segments
The global Bubble tea market has been divided into tea type, product type, jelly type, milk type, distribution channel and region.
The global Bubble tea market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Bubble tea market is highly dominated by Asia-Pacific with Taiwan, Singapore, Kong, Singapore, China, Malaysia, Indonesia, Korea, Philippines, Macau and Thailand serving as major markets. Europe and North America are the fastest growing markets due to increasing popularity of bubble tea in the regions and companies are expanding to regions such as U.S. (particularly California), U.K. and Italy.
Browse Report @ https://www.marketresearchfuture.com/reports/bubble-tea-market-3953
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Bubble tea was originated in Taiwan, more than two and half decades ago, and had hit the beverage industry. The market has expanded from Taiwan to other Asian countries and eventually reached North America and Taiwan. There are increasing number of coffee and tea shops in Asia selling fresh bubble tea. Typically, black tea, green tea, white tea or even coffee forms the base of bubble tea and is quite popular in Hong Kong, Taiwan, and China. Bubble tea market is likely to have the competitive edge in future growth momentum as sales volume are projected to increase through 2018 and beyond.
Globalization and urbanization has significantly changed the dietary pattern and urban life has encouraged consumers to opt for healthy lifestyle. The changing lifestyle and evolving consumption pattern defines the consumers’ healthy consumption choices in the modern world which supports the growth of Bubble tea Market. Market players have been experimenting with their beverage menus and diversified their offerings while including fruit- and tea-based bubble tea, offering consumers the variety they crave in a chained dining experience. Tea drinkers consider taste as the primary factor in making buying decision at a restaurant or cafe as this variable has high degree of correlation to quality and flavour preference. There are myriad of factors including price, time of day, weather, convenience, flavour preferences for both hot and cold consumption and health which drives the tea consumption and industrial players consider all these factors to strategize on product development and product positioning. Various Tea providers at various foodservice outlets focus on flavour expansion and product diversification. Bubble tea is gaining popularity as consumers want to keep experimenting with the various available flavours, for instance, Honeydew flavored bubble tea is quite popular across the globe. Market players have been focusing on focus on R & D investment leading to innovations in product line of the Bubble tea. New varieties with better formulation and product development have attracted more consumers towards the Bubble tea and its sale surged globally. Quirky packaging and attractive tapioca kits are the major trends in the market. Most of the tapioca kits include wide straws, tea powder mix, ready to use tapioca balls, and optional sweetener is available on various online retail portals.
Strong performance of franchising business over the years have been leveraging on increasing consumer demand in beverage foodservice market. Owing to rising disposable income, convenience & changing lifestyle leading to changing consumer needs & their consumption patterns, there is ample scope of market growth in Bubble Tea industry. With growing tea café culture and the mounting pressures of life and stress at work, consumers want to spend time quality time at cafes and relax; such factors have created opportunities for bubble tea industry to grow.
Receive a Sample of Report @ https://www.marketresearchfuture.com/sample_request/3953
Bubble tea holds huge potential and holds ample scope of growth during the forecast period. Most food and drink trends have very short life spans, however it doesn’t stand true in case of bubble tea, which is gaining popularity over the years. Also, there are growing number of bars & pubs serving alcoholic bubble tea owing to the high demand for innovative bubble tea products. Availability of diverse bubble tea type and improvement in bubble tea formulation further induce the demand of bubble tea. However, survival and maintaining market position pose threat to the manufacturers and sourcing of high quality Boba’s and the skilled manpower to prepare bubble tea are the major challenges faced by market players.
Latest Industry Updates:
November 2017, Bubble tea retailer Gong Cha aims to double its Kiwi stores for 2018 and plans to lift its team from 30 staff to 50. Gong Cha is making significant investment in New Zealand to strengthen its market position as there increasing demand for Asian-style tea with tapioca pearls.
Bubble Tea Market - Competitive Analysis
Bubble tea market is moving ahead in lifecycle chain and pacing to its next development phase. The industry is fragmented with few entry barriers. The concept ‘survival of the fittest’ plays a critical role in defining the success for market players.
Bubble tea market players’ aims to take full advantage of huge consumer demand and are focusing on supply chains management, cost cutting and controlling losses. With industrial players aiming to capture a considerable share of the market as early as possible, they are competing and experimenting with various advantage points from both supply and demand side. Manufacturers are also collaborating with third parties to boost sales and business productivity. Also, various technology companies have been providing Point of Sale (POS) software to restaurants and coffee shops. Few companies are heavily investing in R&D and indulge in staff training and selective about using higher quality ingredients.
Manufacturers are also investing in the optimal strategies including marketing schemes such as price reduction via discount codes, referral codes, happy hours, and distributing few samples to encourage consumers to experiment and try new brands. The key market players profiled in Bubble tea are Bubble Tea House Company (U.K.), Bubblelicious Tea Ltd. (U.K.), Lollicup USA Inc. (U.S.), Sumo's (M) Sdn Bhd (Malaysia), CuppoTee Company (Taiwan), Ten Ren's Tea (Taiwan) and Gongcha (Hong Kong).
Bubble Tea Market – Segments
The global Bubble tea market has been divided into tea type, product type, jelly type, milk type, distribution channel and region.
- On The Basis Of Tea Type: Black Tea, Green Tea, Rum, Oolong Tea, White Tea and others
- On The Basis Of Product Type: Smoothies, Milkshakes, Ready-to-Mix and others
- On The Basis Of Jelly Type: Tapioca Pearls, Basil Seeds, Fruit, Gelatin and others
- On The Basis Of Milk Type: Dairy and Non-Dairy
- On The Basis Of Distribution Channel: Store-based and non-store based
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
The global Bubble tea market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global Bubble tea market is highly dominated by Asia-Pacific with Taiwan, Singapore, Kong, Singapore, China, Malaysia, Indonesia, Korea, Philippines, Macau and Thailand serving as major markets. Europe and North America are the fastest growing markets due to increasing popularity of bubble tea in the regions and companies are expanding to regions such as U.S. (particularly California), U.K. and Italy.
Browse Report @ https://www.marketresearchfuture.com/reports/bubble-tea-market-3953
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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