The Future of Bubble Tea: Trends and Innovations to Look Out For

Global bubble tea market - what do we know about it?

Bubble tea, also known as boba tea, has become extremely popular recently as a refreshing and tasty drink, especially in Asia.

Bubble tea is a Taiwanese drink usually prepared with a base of tea, milk or creamer, and sugar, with the addition of tapioca pearls. The drink has spread around the world since the 1980s, offering a variety of flavors.

According to a market analysis compiled by Expert Market Research, Asia and the Pacific are the leading markets for bubble tea. In Asia, the main markets for these beverages are countries such as China, South Korea, the Philippines, and Singapore. In addition, the demand for bubble tea is also growing in countries such as Malaysia and Vietnam.

Bubble tea has also gained popularity in North America and Europe, with the United States and the United Kingdom being the main markets. The growing trend of experimenting with new beverages and the increasing popularity of bubble teas on social media is driving the bubble tea market in the United States. Meanwhile, the bubble tea market in the UK is likely to grow in the coming years, supported by innovation and consumers' willingness to experiment with new beverages.

Bubble tea popularity statistics

Data published by Expert Market Research shows that the size of the global bubble tea market reached $2.79 billion in 2022. There is no indication that this performance will worsen in the following years. On the contrary, the boba tea market is expected to grow at a CAGR of 7.50% between 2023 and 2028 to reach a value of around $4.29 billion by 2028.

Bubble tea is trendy among the younger generations. According to a survey conducted by the food ordering app Grubhub, bubble tea was the 17th most popular food item among Generation Z in 2020.

Interestingly, Bubble tea has also become popular on social media, with the hashtag #bubbletea having over 2.2 million posts on Instagram as of March 2023.

Bubble tea business - is it profitable?

Looking at market data, bubble tea trends, and the growing variety of boba tea flavors available, one can conclude that the bubble tea business will be very profitable in the coming years. 

Demand is expected to grow as significant players look to introduce more innovative forms of bubble tea. 

However, it is essential to remember that the bubble tea business can be profitable if several factors are considered, such as location, product quality, pricing, marketing, and competition. If you can offer high-quality products, a variety of flavors, attractive prices, and a well-thought-out marketing strategy, the chances of success will be much higher.

Bubble tea is a drink that is easy to prepare and can be customized to suit different tastes and preferences. However, competition in the bubble tea market is already relatively high, especially in larger cities, which could affect potential profits. Developing a brand and paying attention to quality will help achieve success.

What does Sharetea think of the bubble tea future?

Sharetea started the bubble tea business more than 30 years ago. Since then, we have been watching the market constantly and have felt a growing demand for this type of beverage. 

We have gained a large customer base by focusing on quality, different flavors, and fresh ingredients. Our stores are located all over the world, and we continue to look for new growth opportunities so that the largest possible community can taste delicious bubble tea from Sharetea. We believe that the next few years will further popularize boba tea and that the culture of drinking it will be known everywhere and for everyone - regardless of age or culinary tastes.

If you're interested in the bubble tea business and would like to open your own place, check out our bubble tea franchise.