In 2024, the global bubble tea market was valued at USD 2.63 billion. It is projected to reach USD 2.83 billion by 2025 and expand further to USD 4.78 billion by 2032, registering a compound annual growth rate (CAGR) of 7.81% during the forecast period. Asia Pacific emerged as the leading regional market in 2024, capturing a 43.35% share of the total revenue.
Originating in Taiwan, bubble tea remains a staple in its home country and has increasingly found favor in Western nations such as Canada and the United Kingdom. Traditionally made from milk, sweeteners, tapioca pearls, fruit powders, and creamers, bubble tea has become a hallmark of Taiwanese food culture. According to the 2021 Nextrends Asia report, Taiwan’s exports of bubble tea components—such as ingredients, packaging, and machinery—rose by 330% from 2018 to 2021. Key growth drivers include culinary tourism, heightened health consciousness, and strong influence from social media trends.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
Market Segmentation Highlights
Black Tea Segment Forecasted for Notable Growth by 2030
Rising interest in health and wellness is propelling demand for black tea, thanks to its antioxidant, anti-aging, and anti-diabetic benefits. Consumers seeking natural and organic drinks are further bolstering the segment's momentum. Green tea, while slightly behind, is also experiencing significant traction.
Fruit Flavors Gaining Popularity
The market is segmented into flavors such as fruit, chocolate, coffee, original, and others. Fruit-based options dominated in 2019, with mango, lychee, passion fruit, kiwi, lemon, and strawberry topping the list due to their refreshing taste and health-oriented appeal. Meanwhile, the chocolate flavor segment is expected to grow at the fastest pace, driven by broad appeal across age groups.
Key Takeaways
The report provides:
Market Dynamics
Innovation and Product Expansion Fuel Market Growth
Consumer preferences are being shaped by product innovation, affordable pricing, strong branding, and convenience. Leading brands are tapping into these trends by launching novel, premium bubble tea options. The adaptability of bubble tea—in forms like jasmine green tea, classic black milk tea, and fruity variants—supports its expanding consumer base.
For example, U.S.-based Bubluv Inc. rolled out three new boba tea varieties in April 2022, featuring konjac and tapioca starch as healthier alternatives, highlighting the industry’s innovation trend.