In 2024, the global bubble tea market was valued at USD 2.63 billion. This market is projected to rise from USD 2.83 billion in 2025 to USD 4.78 billion by 2032, reflecting a compound annual growth rate (CAGR) of 7.81% during the forecast period. The Asia Pacific region led the market with a 43.35% share in 2024.
Bubble tea continues to flourish in its region of origin and has steadily gained popularity in Western nations like Canada and the United Kingdom. Known for its distinct combination of ingredients, the beverage has established itself as a staple in the global market. Typically made with milk, sweeteners, liquid tapioca pearls, creamer, and fruit powders, bubble tea is now seen as a cultural symbol of Taiwanese culinary innovation. Notably, the 2021 Nextrends Asia report recorded a 330% increase in Taiwan’s exports of bubble tea base components—such as raw materials, packaging, and machinery—compared to 2018. Additionally, factors like the rise of culinary tourism, health-conscious consumer behavior, and the influence of social media have further accelerated market expansion.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
Market Segmentation
Black Tea Segment to Witness Strong Growth Through 2030
Driven by increasing health awareness among consumers, the black tea segment is anticipated to experience robust growth during the forecast period. Its popularity stems from its antioxidant, anti-aging, and anti-diabetic benefits. The segment's growth is also bolstered by a growing demand for natural and organic food and beverages. Green tea is another rapidly expanding segment, closely following black tea in popularity.
Rising Demand for Fruit-Flavored Varieties
The market is segmented by flavor into coffee, fruit, chocolate, original, and others. Fruit-flavored bubble tea led the market in 2019, with flavors such as mango, lychee, passion fruit, strawberry, kiwi, lemon, and more. These varieties are preferred not only for their taste but also for their enhanced nutritional value. Meanwhile, the chocolate segment is expected to grow at the fastest rate in the coming years due to the increasing demand for chocolate-based beverages across all age demographics.
Report Highlights
The report offers:
Growth Drivers and Constraints
Diverse Product Offerings Fueling Market Expansion
Consumer preferences are influenced by factors such as flavor, affordability, branding, and convenience. In response, tea producers are focusing on delivering high-quality, innovative, and diverse offerings. The widespread appeal of bubble tea lies in its flavor, ease of access, and evolving product variations.
The market offers significant growth potential due to the availability of multiple options including fruit-based teas, jasmine green teas, and black milk teas. For instance, in April 2022, U.S.-based Bubluv Inc. introduced three innovative boba tea flavors made with tapioca starch and konjac, reflecting ongoing industry innovation.