Bubble Tea Market Revenue Size, Share, and Growth Forecast to 2032

Originating in Taiwan, bubble tea has evolved from a local specialty into a global phenomenon. The beverage—made by blending brewed tea with milk, fruit flavors, syrups or powders, sweeteners, and chewy tapioca pearls—offers a distinctive taste and texture that resonates with diverse consumer groups. Initially popular across East Asia, bubble tea’s appeal has spread rapidly to countries such as the U.S., the U.K., and Canada.

Today, bubble tea represents a hallmark of Taiwanese creativity in the international beverage sector. As per Nextrends Asia (2021), Taiwan witnessed a 330% increase in bubble tea base ingredient exports between 2018 and 2021. Factors such as culinary tourism, health-conscious consumers, and social media influence have further propelled the global market forward.

However, the industry faces challenges including export regulations and supply chain disruptions in key tea-producing regions such as India, which provides vital ingredients like black and green tea.

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Market Segmentation Insights

Black Tea Segment to Propel Growth by 2030

Rising awareness of black tea’s health benefits—such as its antioxidant, anti-aging, and anti-diabetic effects—is driving strong demand within this segment. Simultaneously, green tea-based bubble teas are attracting consumers who prefer natural and organic beverage options.

Fruit-Flavored Variants Maintain Market Leadership

By flavor, the market is segmented into fruit, chocolate, coffee, original, and others. Among these, fruit-flavored bubble teas—featuring varieties such as mango, lychee, passion fruit, kiwi, lemon, and strawberry—dominate due to their refreshing taste and perceived health benefits. Meanwhile, chocolate-flavored options are expected to experience the fastest growth, appealing to a broad consumer base across different age groups.

Key Insights from the Report

• In-depth analysis of market drivers, challenges, and emerging opportunities

• Evaluation of regional performance and growth trends

• Strategic profiling of leading industry players

• Insights into product innovations, partnerships, and mergers & acquisitions

Market Drivers

Flavor Innovation and Product Diversification Fuel Market Expansion
The bubble tea industry continues to evolve with the introduction of premium ingredients, customized flavors, and functional formulations designed to meet changing consumer demands.

For instance, in April 2022, Bubluv Inc. (U.S.) introduced three new varieties of bubble tea crafted from konjac and tapioca starch, reflecting the shift toward healthier beverage innovations.

Regional Insights

Asia Pacific Dominates the Global Market

In 2022, the Asia Pacific market generated approximately USD 0.96 billion in revenue, with Taiwan and Vietnam serving as key manufacturing and consumption centers. The proliferation of themed tea cafés and specialty bubble tea outlets continues to strengthen the region’s leadership position.
A notable milestone includes the launch of Meme Xpress in Singapore (2020) by local celebrity Chen Shucheng.

North America represents the second-largest market, driven by rising demand for tea-based drinks, while Europe is witnessing accelerated growth as Asian-inspired beverages gain mainstream appeal.

Competitive Landscape

Leading Companies Emphasize R&D and Franchise Expansion
Major players in the bubble tea market are heavily investing in research and development, expanding franchise operations, and diversifying product offerings to enhance their global presence.

Prominent companies include:

• Chatime Group (China)

• Gong Cha (Taiwan)

• CoCo Fresh Tea & Juice (Taiwan)

• Quickly (U.S.)

• Xing Fu Tang (Taiwan)

• Lollicup USA, Inc. (U.S.)

• TIGER SUGAR (China)

• Yummy Town (Happy Lemon) (Taiwan)

• O.I. The Co., LTD. (Taiwan)

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Recent Industry Development

October 2021: Del Monte entered the U.S. bubble tea market with the launch of Joyba Bubble Tea, now available through major retail channels such as Costco, Target, Safeway, Circle K, and Albertsons.