Bubble Food & Beverages Market Worth $8.94 Billion By 2030

[sara James]

The global Bubble Food & Beverages Market size is expected to reach USD 8.94 billion by 2030, registering a CAGR of 9.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. The rising health-consciousness among consumers, along with increasing awareness about various health benefits associated with boba consumption, has been driving the growth of the global market. The tapioca-based bubble food & beverages segment accounted for a majority of the share to become a larger division in 2021. Tapioca has no saturated fat, lowers insulin levels, and is rich in calcium & iron, which are the major factors driving its application in bubble food & beverages. Furthermore, the easy availability of tapioca pearls is also contributing to the segment growth. The bubble tea segment held the majority of the share in 2021.

The availability of different flavors of boba pearls along with the rising consumption of healthy beverages, such as green tea, black tea, and white tea, among the consumers especially, millennials, has driven the demand for bubble tea in the market. The on-trade segment is expected to register the fastest CAGR from 2022 to 2030. The growing consumer preference for convenience, hygiene, and high-quality standards of food & beverages has driven the demand for handcrafted bubble food & beverages. Moreover, many restaurants & cafés are introducing new flavors of boba snacks and beverages to their menu, which is likely to drive the segment’s growth. The market is characterized by the presence of some large-scale companies as well as some developing brands. Leading manufacturers hold a significant market share in major parts of Asia Pacific.

Related Press Release@ Bubble Food & Beverages Market Report

Bubble Food & Beverages Market Report Highlights

• The bubble tea product segment is projected to register the fastest CAGR during the forecast period
• The rising popularity of bubble tea through social media platforms across various regions is expected to boost its demand
• The on-trade segment is expected to grow at a faster rate owing to the increasing availability of a wide range of bubble foods & beverages in restaurants and cafés
• AsiaPacific dominated the global market in 2021 and accounted for the largest share of the overall revenue
• Consumers, most notably in China, Japan, and South Korea, are increasingly inclining toward bubble foods & beverages, which, in turn, is fueling the regional market growth