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The Future Of The Global Bubble Tea Market In 2023

por Amelie Herington (02/07/2020)

Back in 2016, the bubble tea industry was valued at an estimate of 2 million dollars with black bubble tea dominating 42% of the global bubble tea market.
In 2019, the industry has seen manufacturers and food associations investing heavily in their bubble produce. In the global market, bubble tea is predicted to be worth an estimated $4 million by 2023.

The goal of many of this manufacturer like Gong Cha is to provide a delightful drinking experience.

For instance, Gong Cha, one of the best bubble beverages producers in the world, recently opened a new store in New Brunswick to allow more residence to have access to different bubble blends.

Dating back to history: it is a worldwide accepted beverage with chewy tapioca pearls as the main ingredients.

Started in Taiwan, bubble beverage hosted several other names like boba juice, bubble milk tea, tapioca pearl milk, boba tea, to name a few, depending on the country.

The driving force of the beverage industry is the price and its health benefits. The new flavors introduced from time to time have helped to expand the market.

The future of bubble tea when it comes to ingredient

Bubble tea market is made up of black tea, green tea, oolong tea, and white tea. The green, being most lucrative, is predicted to dominate up to one-third of the global bubble tea by 2023.

And that's because of the several benefits of green tea on health.

For tour thái lan giá rẻ instance, green tea reduces the risk of developing cancer, type 2 diabetes, and Parkinson's disease. It also helps with weight loss and reduces the level of cholesterol.

On flavor

When it comes to flavor, the market consists of chocolate, coffee, fruit flavors, and others.
Fruit flavors took the highest sales because customers prefer their high level of nutritional value on the body. Some also prefer the flavor because of its excellent quality, among other flavors.

What's the future saying?

According to several market research, below are what to expect in the bubble tea market by 2023. By 2023, tour đi thái lan the value of it is predicted to grow at a CAHR off 8.20%. The value of chocolate flavor will grow exponentially at a CAGR of 8.20%.

Europe is also expected to take the lead in terms of value with a CAGR of 9.10%.

Its dominance is expected to be highest in North America by taking 57% of the global market. New York will dominate 97% of North America's global bubble tea.

Based on collectively and value, Asia-pacific and tour thái lan North America will account for 83% of the market in the world.

The driving force of the beverage industry is the price and its health benefits. The new flavors introduced from time to time have helped to expand the market.

In conclusion

The domination of bubble tea in the world was primarily because of its nutritional benefits and affordable price.

By 2023, Europe is predicted to experience the most significant growth, and then the Asia-pacific. What are your thoughts? Do you think North America can dominate the global bubble tea market by 2023? Feel free to share your opinion on our Instagram page and let us know what you think.

Rosario Berry is a professional freelance writer, like to introduce .

Its innovative and they periodically add new
to their menu, which gives their customers even a wider selection to choose from.