Bubble Tea Market Revenue Size, Share, Growth Insights and Forecast Through 2032
The global bubble tea market revenue was valued at USD 2.63 billion in 2024 and is projected to reach USD 2.83 billion in 2025. By 2032, the market is forecast to attain USD 4.78 billion, growing at a CAGR of 7.81% from 2025 to 2032. In 2024, the Asia Pacific region dominated the market, accounting for 43.35% of global revenue.
In the United States, the market is poised for robust growth, anticipated to reach USD 875.56 million by 2032, driven primarily by rising consumption among younger demographics.
Originally developed in Taiwan, bubble tea has transitioned from a regional specialty to a globally recognized beverage. It blends brewed tea with milk, fruit syrups or powders, sweeteners, and chewy tapioca pearls, creating a unique taste and texture profile. Initially popular across East Asia, its appeal has rapidly expanded to markets such as Canada, the United Kingdom, and the United States.
Today, bubble tea stands as a symbol of Taiwanese innovation in the global beverage industry. According to Nextrends Asia 2021, Taiwan recorded a 330% surge in exports of bubble tea base ingredients between 2018 and 2021. Factors such as the rise of culinary tourism, health-conscious consumers, and the influence of social media have further accelerated global market growth.
Nonetheless, challenges persist — particularly export restrictions and supply chain disruptions linked to tea-producing nations like India, which supply essential ingredients such as black and green tea.
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Market Segmentation Insights Black Tea Segment to Drive Growth by 2030 Increasing consumer awareness of the health benefits of black tea, including its antioxidant, anti-aging, and anti-diabetic properties, is driving segment growth. Meanwhile, green tea-based bubble teas continue to attract consumers looking for natural and organic beverage options.
Fruit-Flavored Variants Continue to Lead the Market By flavor, the market is categorized into fruit, chocolate, coffee, original, and others. Among these, fruit-flavored bubble teas—such as mango, lychee, passion fruit, kiwi, lemon, and strawberry—remain the most popular due to their refreshing taste and health appeal. On the other hand, chocolate-flavored variants are expected to record the fastest growth, appealing to a wide range of age groups.
Key Insights from the Report Comprehensive analysis of market drivers, restraints, and emerging opportunities Regional trend assessments and performance insights Strategic profiling of leading market players Updates on product launches, partnerships, and mergers & acquisitions Market Drivers
Flavor Innovation and Product Diversification Accelerate Market Growth The bubble tea industry is witnessing continuous innovation, with brands experimenting with premium ingredients, customized flavors, and functional formulations to cater to evolving consumer preferences.
For example, in April 2022, Bubluv Inc. (U.S.) launched three new bubble tea varieties made with konjac and tapioca starch, showcasing the trend toward health-oriented beverage innovations.
Regional Insights Asia Pacific Continues to Lead the Global Market In 2022, Asia Pacific generated approximately USD 0.96 billion in revenue, with Taiwan and Vietnam serving as major production and consumption hubs. The rapid growth of themed tea cafés and specialty bubble tea chains continues to strengthen the regional market. A notable development includes the launch of Meme Xpress in Singapore (2020), founded by local celebrity Chen Shucheng.
North America represents the second-largest market, driven by growing demand for tea-based beverages, while Europe is witnessing a surge in pearl milk tea popularity as Asian culinary trends gain traction.
Competitive Landscape Leading Companies Focus on R&D and Franchise Expansion Top market players are prioritizing research and development, expanding franchise networks, and diversifying product portfolios to strengthen their global presence. Companies such as Lollicup USA Inc., Gong Cha, Chatime, Boba Box Limited, Fokus Inc., Sumos Sdn Bhd, Troika J.C. (Qbubble), and Boba Tea Company are actively investing in product innovation and expansion strategies.
Major Market Participants: 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 segment with the launch of Joyba Bubble Tea, now distributed through major retailers such as Costco, Target, Safeway, Circle K, and Albertsons.