From 2020 to 2027, the bubble tea market is expected to grow at a CAGR of 7.80 percent, from $2.4 billion in 2019 to $4.3 billion in 2027. Black tea accounted for more than half of the overall bubble tea market share in 2019 and is predicted to increase at a CAGR of 7.50 percent over the forecast period.
Bubble tea (also known as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply boba) is a Taiwanese tea-based drink that was created in the 1980s in Tainan and Taichung. Most bubble tea recipes include a tea base with fruit or milk, as well as chewy tapioca balls (also known as bubbles, pearls, or boba) and fruit jelly. Ice-blended variants are frequently flavored with fruit or syrup and have a slushy texture. The drink comes in a variety of flavors and has a wide range of components. Bubble milk tea with tapioca and bubble milk green tea with tapioca are the two most popular types. Bubble tea has been widely adopted in developed countries such as the United States, Canada, and Germany, while rising countries like as China, Brazil, and India are swiftly catching up.