Bubble Tea Market Set to Reach USD 9.72 Billion by 2035 as Global Demand Surges for Healthy and Ready-to-Drink Beverages

The global bubble tea market is poised for unprecedented expansion, with revenues projected to grow from USD 3.96 billion in 2025 to USD 9.72 billion by 2035, reflecting a healthy 9.5% CAGR. This surge is fueled by rising demand for customizable beverages, flavor innovation, and the rapid adoption of ready-to-drink (RTD) formats that resonate with younger, on-the-go consumers.

Once considered a niche drink confined to East Asian markets, bubble tea—or “boba”—has evolved into a global lifestyle beverage embraced by diverse age groups. Its success is driven by social media, café culture, and consumer appetite for vibrant, shareable, and customizable drinks.

The market’s growth is not only attributed to its unique flavors but also to evolving health-conscious options, including low-sugar, vegan-friendly, and plant-based milk alternatives, making bubble tea accessible to a wider consumer base.

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Premiumization, RTD Innovation, and Flavor Diversity

The ready-to-drink (RTD) bubble tea segment will dominate, accounting for over 87.6% of market share in 2025, thanks to the convenience it provides for busy lifestyles. Innovative packaging and partnerships with retail giants have pushed RTD bubble tea into supermarkets, convenience stores, and e-commerce platforms worldwide.

Meanwhile, flavored bubble tea—including matcha, taro, mango, lychee, and seasonal variants—is expected to expand at a 10.3% CAGR, catering to adventurous consumers seeking novelty.

Tapioca pearls remain the undisputed king of toppings, holding 42.6% share, though manufacturers are increasingly experimenting with flavored pearls, fruit bits, coconut jelly, and taro balls to keep pace with evolving tastes.

Bubble Tea Trade and Global Expansion

Global trade has become integral to bubble tea’s rise, with Taiwan, Thailand, and Vietnam emerging as key exporters of ingredients, syrups, and equipment. North America and Europe, on the other hand, are among the largest importers, driven by strong demand from trend-conscious young consumers.

This cross-border movement underscores bubble tea’s transformation into a global beverage phenomenon, with local and international chains racing to set up shop across both established and emerging markets.

Regional Growth Outlook

• United States: Expected to grow at 8.7% CAGR, with RTD cans entering convenience stores and seasonal café launches boosting visibility. Social media influencers and K-pop collaborations are further propelling demand.
• United Kingdom: Forecast at 9.1% CAGR, with more than 1,400 bubble tea outlets and strong digital interest (119,000 monthly searches). Vegan options and recyclable packaging are key trends.
• Germany: Growing at 8.4% CAGR, led by organic, low-sugar, and fair-trade bubble teas. RTD cans are appearing in supermarkets, making the drink widely accessible.
• France: Estimated to expand at 8.9% CAGR, with bubble tea being reimagined in premium formats, pastel aesthetics, and collaborations with pâtisserie chefs.
• Japan: The fastest-growing market at 10.8% CAGR, integrating bubble tea into its mature tea culture. Anime tie-ins, vending machine RTD offerings, and collagen-infused drinks are notable trends.

Market Players: Established Leaders and Emerging Innovators

The bubble tea landscape is shaped by a mix of established international chains and new entrants leveraging innovation:

• Tier 1 Brands such as CoCo Fresh Tea & Juice, Gong Cha, and Quickly hold significant shares in developed markets, relying on strong franchising, standardized processes, and extensive marketing campaigns.
• Emerging players and boutique cafés in South Asia, Southeast Asia, and Latin America are focusing on localized flavors, low-cost entry formats like kiosks, and DIY kits to attract younger demographics.

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Recent industry developments highlight this competitive dynamism:

• Chatime Australia added customizable coffee beverages with boba pearls to capture older millennials.
• Gong Cha Korea collaborated with K-pop group Stray Kids to launch limited-edition taro milk teas, blending pop culture with beverage innovation.

Other notable players include Boba Guys, Bubbleology, Kung Fu Tea, Tiger Sugar, Sharetea, Happy Lemon, Yifang USA Inc., and Del Monte Foods Inc.

Online Retail and E-Commerce Surge

The online retail segment is set to grow at an impressive 11.2% CAGR, driven by the rise of e-commerce and at-home consumption trends. DIY kits, RTD bottles, and instant mixes are becoming staples on platforms like Amazon, Alibaba, and dedicated bubble tea brand sites, appealing to consumers who prioritize convenience and variety.

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