In 2024, the global bubble tea market revenue was valued at USD 2.63 billion. Projections indicate growth to USD 2.83 billion in 2025, reaching USD 4.78 billion by 2032, with a compound annual growth rate (CAGR) of 7.81% over the forecast period. The Asia Pacific region led the market in 2024, accounting for 43.35% of the total share.
Originally from Taiwan, bubble tea continues to thrive in its domestic market and is gaining strong momentum in Western countries such as Canada and the United Kingdom. This beverage—traditionally crafted with a blend of milk, sweeteners, tapioca pearls, creamers, and fruit powders—is now recognized as a signature of Taiwanese culinary innovation. The 2021 Nextrends Asia report revealed that Taiwan’s exports of bubble tea ingredients, packaging, and equipment surged by 330% between 2018 and 2021. Factors such as culinary tourism, growing health awareness, and social media influence are also fueling market expansion.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
Market Segmentation
Black Tea Segment Expected to See Strong Growth by 2030
Health and wellness trends are driving demand for black tea, supported by its antioxidant, anti-aging, and anti-diabetic qualities. The growing interest in natural and organic beverages further supports this segment’s expansion. Green tea is also seeing notable growth and remains a close competitor.
Increasing Demand for Fruit-Based Flavors
The market is segmented by flavor into fruit, chocolate, coffee, original, and others. In 2019, fruit flavors led the market, with mango, lychee, passion fruit, kiwi, lemon, and strawberry among consumer favorites—not only for their taste but also for their perceived health benefits. The chocolate segment is projected to see the fastest growth, with rising demand across various age groups.
Key Insights from the Report
The report highlights:
Market Dynamics
Innovation and Product Variety Drive Demand
Flavor innovation, competitive pricing, brand strength, and convenience are key factors influencing consumer choices. Companies are meeting demand with inventive, high-quality tea offerings. The diversity and versatility of bubble tea contribute to its widespread appeal.
Numerous options—such as jasmine green tea, black milk tea, and fruit-based varieties—promise further growth potential. For instance, in April 2022, U.S.-based Bubluv Inc. introduced three novel boba tea flavors using konjac and tapioca starch, underscoring the market’s continuous innovation.