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NOIDA, India , May 25, 2022 /PRNewswire/ -- A comprehensive overview of the Bubble Tea Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Automated Parking System Market. The report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Bubble Tea Market at the regional levels. The Bubble Tea Market is expected to grow at a CAGR of ~7.7% between 2021-2027.
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Bubble tea, also known as boba tea or pearl milk tea, is a Taiwanese tea beverage. This refreshing drink can be made using any type of tea as the base, followed by a specific ratio of milk and sweetener, or no milk at all. Because of its growing popularity, bubble tea is gaining traction in emerging markets. Furthermore, rising health consciousness and changing consumer preferences towards healthy beverages such as green tea, black tea, oolong tea, and white tea is crucial factors driving the market growth. Moreover, zero fat and low-calorie content of these beverages, as well as their rising consumption among students and the working-class population, are proliferating the market growth. Many companies are pioneering delicious bubble tea drinks across a wide market, and they're even entering the food industry.
The ongoing COVID-19 pandemic across the world has had a tremendous impact on different spectra of society, the market for Bubble Tea no less. Returning to some likeness of normalcy depends on continued safety measures, effective diagnostic testing, and widespread vaccination. COVID-19 has caused widely documented supply chain and logistics disruptions across industries, including those in the Bubble Tea industry, which have been exacerbated during the latter portion of fiscal 2021. However, as stay-at-home restrictions were lifted in many parts of the world by the 2nd-3rd quarter of 2020, the major industry players across North America and the Asia Pacific saw an increase in demand for many of its Bubble Tea products later during fiscal 2020 owing to the resumption in the production capacity. As a result, the Bubble Tea industry experienced strong demand in the latter half of fiscal 2020.
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The bubble Tea Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into:
Based on the type, the market is bifurcated in Black Tea, Green Tea, Oolong Tea, and White Tea. Among these segments, the black tea segment acquired the largest share of the market and is projected to continue this trend throughout the forecast period. This is primarily due to the increasing popularity of bubble tea with black tea as a base ingredient. Along with this, the rising consumption of black tea by health-conscious consumers is likely to contribute to the segment growth Additionally, a gradual shift in consumer preference towards natural and organic food and beverage products is another crucial factor driving the demand for black tea.
However, the green tea segment is expected to experience the fastest growth during the forecast period, owing to a surge in the number of health-conscious consumers across the world. According to NCBI, the consumption of healthy and natural ingredients like green tea help in reducing weight gain when consumed regularly.
By Flavor, the market is primarily studied into:
Based on the flavor, the market is segmented into Original Flavor, Fruit Flavor, Chocolate Flavor, and Coffee Flavor. Among these segments, the fruit flavor segment is the most prominent segment attaining the highest share in the bubble tea market. It is mainly due to the rising demand for healthy beverages along with better taste among consumers. There is numerous flavor available in the market such as mango, lychee, plum, peach, strawberry, banana, avocado, kiwi, grape, lemon, and others. The demand for fruit flavor is projected to increase significantly during the forecast period owing to its high nutritional value and presence of diversity in flavor.
Moreover, chocolate and coffee flavor are also expected to capture a substantial share in the market owing to their high popularity among all age groups. Adding chocolate flavor to tea offers various health benefits like motivating the functioning of the brain and relieving physical stress. Also, these flavors are widely adopted as healthy energy drinks, thereby contributing to the overall market growth.
Bubble Tea Market Region Segmentation Includes:
Based on the estimation, Geographically, North America leads the market in 2021. This is mainly due to the consumption of flavored drinks and Bubble Tea products. Furthermore, North American countries like the U.S. and Canada are among the consumer of Bubble Tea products, thereby contributing to the market growth.
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The major players targeting the market include:
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Bubble Tea Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature. Please let us know If you have any custom needs.
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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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