The global bubble tea market was valued at USD 2.63 billion in 2024 and is projected to rise to USD 2.83 billion in 2025. By 2032, the market is expected to reach USD 4.78 billion, growing at a compound annual growth rate (CAGR) of 7.81% over the forecast period. Asia Pacific led the market in 2024, capturing a 43.35% share.
In the United States, the bubble tea market is anticipated to grow significantly, with estimates suggesting it will reach USD 875.56 million by 2032, largely driven by increasing demand among younger consumers.
Market Overview and Growth Drivers
Originating in Taiwan, bubble tea has gained widespread acceptance in both Asian and Western regions, becoming a staple beverage globally. Initially popular across Asia, the drink has seen significant uptake in countries like Canada and the UK due to its distinct formulation—typically consisting of brewed tea combined with milk, sweeteners, fruit powders, and chewy tapioca pearls.
Bubble tea now stands as a symbol of Taiwanese culinary innovation in the food and beverage sector. According to Nextrends Asia 2021, Taiwan experienced a 330% surge in exports of bubble tea base ingredients between 2018 and 2021. Additional factors, such as rising interest in gastronomic tourism, increasing numbers of health-conscious consumers, and growing influence from social media platforms, continue to fuel the global demand for bubble tea.
However, certain challenges persist. Export restrictions, particularly involving ingredients sourced from countries like India (e.g., black or green tea), have created supply chain bottlenecks for manufacturers.
Information Source: https://www.fortunebusinessinsights.com/industry-reports/bubble-tea-market-101564
Market Segmentation Insights
Black Tea Segment to Gain Momentum by 2030
Growing interest in wellness-oriented beverages has bolstered demand for black tea due to its health-enhancing properties, including antioxidant, anti-aging, and anti-diabetic benefits. Green tea is also seeing steady demand, particularly among consumers seeking natural and organic drink alternatives.
Fruit-Flavored Variants Continue to Dominate
By flavor, the market is segmented into fruit, chocolate, coffee, original, and others. Fruit-based bubble teas—featuring mango, lychee, passion fruit, kiwi, lemon, and strawberry—are especially popular for their fresh taste and perceived health benefits. Meanwhile, chocolate-flavored variants are poised to experience the fastest growth, appealing to consumers of all age groups.
Key Insights from the Report:
Market Drivers
Flavor Innovation and Product Diversity Fuel Expansion