Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink invented in Tainan and Taichung in the 1980s. Most bubble tea recipes contain a tea base mixed with fruit or milk, to which chewy tapioca balls (known as bubbles, pearls, or boba) and fruit jelly are often added. Ice-blended versions are usually mixed with fruit or syrup, resulting in a slushy consistency. There are many varieties of the drink with a wide range of ingredients. The two most popular varieties are bubble milk tea with tapioca and bubble milk green tea with tapioca.
The global Bubble Tea size is estimated to be USD 13630 million in 2026 from USD 6964.2 million in 2020. Ana the global Bubble Tea market size is expected to grow at a CAGR of 18.3% for 2021 to 2026.
The technical barriers of Bubble Tea are relatively low, resulting in low level concentration degree. The key companies in Bubble Tea market are Quickly, CoCo Fresh, Chatime and ShareTea, etc. The enterprises are concentrated in Taiwan, China Mainland, etc.
In 2020-2021, the COVID-19 Disease has a negative impact on the bubble tea development. Many stores have to be closed in the first half year, this brought a lot of layoffs and profit decline or even negative profit. Then, the contact-less pickup/takeaway model, mobile pre-ordering operation, and product upgrades (Provide semi-finished products, home-made suits, etc.) have made the Industry gradually recovering.
With the normalization of epidemic prevention and control, and the resumption of work by enterprises are increasing, we forecast there will be an increase in the consumption of bubble tea in 2021 and the after few years.
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