bubble tea popularity statistics singapore bubble tea popularity statistics singapore
According to a recent CLSA survey of consumers, 94% of those aged between 20 and 29 bought boba tea in the last three months, reported Bloomberg (June 24). Thank you!, I recommend Fortune Business Insights for their honesty and flexibility. Profit from the additional features of your individual account. The Great Singapore Bubble Tea Mania | campus.sg In addition, aggressive advertisements and celebrity end orsements have also helped the global market to pave its way toward growth. Prices are higher than previously, reaching as much as S$6 per cup as compared to S$3 in the past.12 Nevertheless, bubble tea shops have attempted to sustain the popularity of the drink by continually developing new and unusual flavours, as well as engaging with customers through social media.Health concernsIn May 2011, it was found that two fruit juice brands from Taiwan used by some bubble tea outlets contained plasticisers that were harmful to health. 14. Profit from the additional features of your individual account. A. Bubble Tea Market Demand to Surge with Rising Popularity of If you are an admin, please authenticate by logging in again. CXOs from the leading companies perceive that product innovation, development of newer flavor, and use of organic preservatives & color in the manufacturing process are the major areas of growth for the bubble tea market. The Straits Times, p. 4. To give some history, bubble tea which originated in Taichung, Taiwan was first introduced to Singapore in 1992. 4. The bubbles are made from tapioca and have high carbohydrate content. As a Premium user you get access to background information and details about the release of this statistic. Advertising prohibitions will also apply to such drinks. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Then you can access your favorite statistics via the star in the header. GrabFood is an extended service of Grab, the transportation network company, that does food deliveries. These latest product ranges further act as a marketing strategy to attract a vast consumer base worldwide. Bubble milk teas surge in popularity is mainly attributed to taste, affordability, and the rising reinvention of the basic tea recipe. The Straits Times, p. 8. February 11, 2020. Besides this, due to its various attributes, such as low-fat and low-calorie content and other several health benefits, including high antioxidant value, it also boosts the consumption of boba tea across the domestic and international markets. Chocolate-flavored milk tea is tremendously popular in which chocolate powder is blended with milk to strengthen its flavor. The rise of bubble tea, one of Taiwan's most beloved beverages To know how our report can help streamline your business, Speak to Analyst, Shift of Consumers toward Black Tea Due to its Health-Imparting Properties Boosts Market's Performance. Many Thai people drink bubble tea daily, and in many cases may drink multiple cups per day. Bubble Tea Market Sale, Share, Size, Growth & Forecast -2032 Rising number of fitness conscious consumers and rising demand for tea based beverages in youth generation across the globe is the current trend in the global bubble tea market.. A. Europe and LAMEA will provide more business opportunities for Bubble Tea Market in coming years. Companies in the Industry are Aggressively Expanding their Franchisees to Cater to the Growing Demand. 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The Straits Times, p. 10. Ho, M., & Boey, D. (2001, June 29). Nevertheless, manufacturers are trying to introduce new beverage options, such as bubble milk tea, in the market. Arlina Arshad. The number of bubble tea shops grew to at least 5,000 by 2002. Such challenges cumulatively hamper the growth potential of the global market. What may surprise you though is the amount of sugar! Are you interested in testing our business solutions? Tapioca balls or "pearls" are often added to the concoction as well. The bubble originally referred to the froth created by shaking the drink, though now it is also understood as referring to the pearls that are added. Storm in a bubble-tea cup. Southeast Asians spend US$3.66 billion on bubble tea annually: Study Book your free consultation and let our research experts help you with your needs/problems. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth. Global Opportunity Analysis and Industry Forecast, 20202027. In 1987, a staff member had the idea of adding fen yuan (sweetened tapioca pudding) to her tea, resulting in the creation of the bubble tea pearl.2Introduction in SingaporeBubble tea was introduced to Singapore in 1992. The black tea segment is projected to grow at a significant CAGR during the forecast period, owing to its increased preference by health-conscious consumers across every region. As more and more countries discover the delicacy that is bubble tea, these figures are sure to continue growing. According to the study, there are three underlying fundamentals to building a successful bubble tea business. Is Running A Bubble Tea Business In S'pore Actually Lucrative? Virtually any flavor that you can imagine exists with bubble tea. According to Grabs data, bubble tea orders in the region had increased at a rate of 3,000 percent in 2018. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Moreover, based on the study by the finance-based startup, Momentum Works and payment startup, Qlub, Indonesias bubble milk tea market ranked first among all the Southeast Asian countries. It is already known that sugary drinks contribute to weight gain, obesity and other diseases such as diabetes, heart disease, stroke and cancer. The availability of different types of milk tea offers numerous options for consumers to enjoy. This is a very good piece of work and will be very helpful to us going forward. By component, it is classified into flavor, creamer, sweetener, liquid, tapioca pearls, and others. Total Starbucks locations globally 2003-2022, U.S. beer market: leading domestic beer brands 2017, based on sales, Revenue and financial key figures of Coca-Cola 2010-2022, Research expert covering Singapore, Indonesia and Malaysia, Profit from additional features with an Employee Account. Tea - Singapore | Statista Market Forecast Porters five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network. For those looking to cut back on sugar, bubble tea may not be the best choice. Recent Statistics Popular Statistics Facebook: quarterly number of . These measures are part of efforts to help consumers to make more informed, healthier choices,Health Minister Ong Ye Kung said. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. Consuming Singapore: The obsession with bubble tea We use cookies to enhance your experience. Introduced to China in the early 1990s, it quickly became one of the most popular drinks in the nation. I hope you learned something from it, even if it was that you should lay off the bubble tea because really, you probably have had enough of that stuff by now. Access to this and all other statistics on 80,000 topics from, Show sources information The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca. Keep reading to check them out! In April 2020, Bubble Tea Supply Inc. launched its first bubble tea with a range of flavors including traditional milk, green apple, mango, lychee, and honeydew accompanied with over 14 toppings. Long queues at bubble tea shops, now serving only takeaway bubble tea, were a common sight. In addition, recently many Chinese brands have entered the region, it added. The ideal entry-level account for individual users. You need a Statista Account for unlimited access. Please do not hesitate to contact me. "Market Intelligence that Adds Flavour to Your Success", Region : Global | Format: PDF | Report ID: FBI101564. Bubble tea is drunk by millions of people around the world every single day, even in countries that you might not expect! The Agri-Food and Veterinary Authority (AVA) suspended the brands, resulting in a few bubble tea chains temporarily being unable to sell their fruit teas.13In May 2013, it was discovered that the Sunright brand of tapioca balls, as well as other starch products from Taiwan used in bubble tea, contained maleic acid, a substance harmful to the kidneys.14 As a result, some bubble tea chains stopped selling pearls with their teas for the time being.15 Such health scares negatively affected bubble tea sales, although customer confidence returned after a period of time.Timeline1992: Bubble Tea Garden, Singapores first bubble tea caf, opens.2001: Bubble tea reaches the height of its popularity.2007: Renewed popularity of bubble tea.2011: Renewed popularity of bubble tea. I liked bubble tea first because milk tea is nice, and the pearl. Start reading instantly.This Report and over 29,716+ more Reports, Available with Avenue Library. If youre looking for a sweet, refreshing drink that doesnt compromise on flavor or quality, bubble tea is the answer. The manufacturers or entrepreneurs in the boba tea industry are venturing into the launch of their own restaurants/cafes to attract consumers and fortify their market presence. Bubble tea can be found on every continent today, except for Antarctica, of course! The adoption of bubble tea has been quite high in mature regions such as the U.S., Canada, and Germany while emerging countries such as China, Brazil, and India are catching up quickly. Please create an employee account to be able to mark statistics as favorites. This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. Bubble tea also contains high sugar content, according to a study conducted by students at the Applied Food Science and Nutrition diploma course at the Temasek Polytechnic in Singapore. business insights into THE BUBBLE TEA MARKET - mise en place (2001, August 31). The Straits Times, p. 30. The Straits Times, p. 8. This can be attributed to the rise in awareness regarding healthy lifestyle and higher adoption of healthy beverages by health-conscious consumers. There is also an industry saying that nine out of 10 bubble tea stores lose money, it added. The Straits Times, p. 73. Bubble Tea Market Outlook (2022-2032) [324 Pages Report] The global bubble tea market is projected to have a rapid-paced CAGR of 8.8% during the forecast period. Although people of all ages frequently enjoy bubble teas across the globe, younger people tend to drink them more frequently. Accessed May 01, 2023. https://www.statista.com/statistics/1066726/singapore-bubble-tea-outlets-by-chain/, DBS Group Research. Then you can access your favorite statistics via the star in the header. The other players operating in the global bubble tea market are Bubble Tea Supply Inc., ChaTime, CoCo Fresh, Quickly, Kung Fu Tea, BobaLoca, Happylemon, Share Tea, T Bun International, Fanale Drinks, Grand Chainly, and Huey-Yuhe Enterprise. Aqilah, a consumer in Malaysia, used to buy bubble tea at least twice a week. Pandemic disrupted the entire world and affected many industries. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Due to increasing consumer demand, GrabFood now has close to 4,000 bubble tea outlets in their network, which is a 200 percent growth in outlets for the region. In a recent Grab article titled Bubble Tea Craze in GrabFood, the ride-hailing giant highlighted Southeast Asias growing obsession with the drink. "Number of Bubble Tea Outlets in Singapore in 2019, by Brand. Junction. On the basis of flavor, it is categorized into original flavor, coffee flavor, fruit flavor, chocolate flavor, and others. *Taxes/Fees, if applicable will be added during checkout. Meanwhile, bubble tea orders on the GrabFood platform has seen more than 700 per cent growth in Singapore from May 2018 to December 2018. Request a Free sample to learn more about this report. As soon as this statistic is updated, you will immediately be notified via e-mail. How Much Is the Bubble Tea Industry Worth. The Straits Times, p. 3. In the next five years, the bubble tea industry is expected to grow by nearly 54%. This is far higher than the cost of a similar amount of milk or juice, but the high price does not seem to deter people from making it their go-to beverage. Statista. In the United States, 95% of women have tried bubble tea as opposed to 81% of men. In. Show publisher information to incorporate the statistic into your presentation at any time. Save my name and email in this browser for the next time I comment. The challenge, as usual, lies in execution and the ability to build (and of course, maintain) a defensive moat along the way.. [Online]. Singapore stands out among the region's six key markets, as the country with the smallest population but the highest spending power. The Middle East & Africa showcases a slower growth as pearl milk tea is consumed as a social drink or as a gesture of hospitality. As a Premium user you get access to background information and details about the release of this statistic. It includes flavor variants such as lychee, mango, passion fruit, peach, plum, strawberry, avocado, banana, grape, kiwi, lemon, and others. Access to this and all other statistics on 80,000 topics from, Show sources information "Important factors when considering a bubble tea purchase in Singapore in 2020." The chewy tapioca balls or pearls are undoubtedly the stars of any bubble tea drink. Studies showed that green tea-based milk tea is proven to be beneficial for lowering blood pressure and the risk of cancer. Retrieved from NewspaperSG.10. Your email address will not be published. Chinese brands that have made their way into Southeast Asia include Mixue, Chagee and HEYTEA, all of which have outlets in Singapore. Retrieved from NewspaperSG.4. Whats your favorite bubble tea base to start with? Southeast Asia's bubble tea craze | The ASEAN Post Health-beneficial attributes such as low-fat, low-calorie content, and the presence of anti-inflammatory properties are the key driving factors of the market. Art & Craft. The bubble tea industry is expected to reach $3.39 billion by 2027. However, it added that the supply chain for bubble tea stores can be more challenging than e-commerce due to the high demand for the freshness of raw materials. Retrieved from NewspaperSG.12. The market value of the bubble tea market is anticipated to reach a high of US$ 5.82 billion by the year 2032. The bubble tea market was valued at $2.4 billion in 2019 and is estimated to reach $4.3 billion by 2027, registering a CAGR of 7.80% from 2020 to 2027. Copyright Mediacorp 2023. Tapioca pearls are made from cassava flour, of which Nigeria is the worlds largest exporter (21%). You can only download this statistic as a Premium user. Other players operating in the market are Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company. According to NCBI, healthy and natural ingredients such as green tea help in preventing weight gain and also in inducing weight loss when consumed regularly. Expansion of franchise stores, investments, fundings, and new product launches are the key strategies of the bubble tea market players.
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