Since boba tea is emerging as a popular drink among consumers owing to its taste and appeal. Launch of New Flavors by Fast Food Giants Propels the U.S. The new range is gluten-free, keto-friendly, and available in three flavors, passionfruit oolong guava, black milk tea, and matcha soy latte. For instance, in April 2022, BUBLUV, Inc., a New York-based start-up, launched its first ready-to-drink, better-for-you bubble tea with no artificial ingredients, no added sugar, and less than 50 calories per bottle. Therefore, the rising demand from consumers to seek alternative sugar beverages with several health benefits led manufacturers to introduce innovative drinks in the market. Department of Agriculture (USDA), a 16oz cup of boba or bubble milk tea contains 40g of sugar, exceeding the recommended added sugar intake and potentially harming consumers' health. However, the product is a sugar-dense beverage most sugar is from added sweeteners, fruit syrups, and flavorings. are gradually increasing their consumption of bubble milk tea due to their high dependency on caffeinated drinks. Rising Demand for Better-For-You Boba Alternatives to Drive the MarketĬonsumers in the U.S. The boba tea trend is on a continuous rise throughout the world and also in the U.S., which further helped such companies boost the market. The consumers' demand for natural and healthy alternatives led the company to introduce such ingredients as a base ingredient. For instance, in September 2022, Fong Ding Enterprise, a Taiwan-based bubble tea company, introduced its innovative chewy boba made from natural and locally sourced raw materials. The increasing health consciousness among consumers is an influencing factor driving the product demand. Thus, users are shifting to alternative beverages, including tea based drinks with low fat and low calorie content. Shift of Consumers from Carbonated Beverages to Healthy Alternatives Boosts the MarketĬarbonated soft drinks, such as Coke, Pepsi, Sprite, and Fanta, contribute significantly to sugar intake, and it may lead to several health-associated issues, including obesity, diabetes, and body overweight. Request a Free sample to learn more about this report. As a result, the market exhibited positive growth during the pandemic. However, several prominent players in the country proposed various initiatives and investments in order to overcome product shortages and establish a competitive advantage during the pandemic. In the U.S., during the pandemic, the bubble tea supply chain was disrupted as it faced significant delays due to bottlenecks in Asian counties. Supple Chain Bottlenecks to Hinder the Market Growth Amid COVID-19 is expected to emerge as a lucrative market owing to the presence of key market players and the growing popularity of pearl milk tea. The rising consumption of flavored bubble tea paired with the availability of products in the vegan category will pave the way for market growth. The growing popularity of milk tea and coffee as nootropic beverages among millennials, paired with the busy lifestyles of individuals, is a key driver for the market expansion. The market is projected to grow from USD 464.29 million in 2023 to USD 750.59 million by 2030, exhibiting a CAGR of 7.10% during the forecast period. bubble tea market size was valued at USD 434.11 million in 2022.
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