Growing Consumption of Green, Black and Jasmine Tea to boost the Pearl Milk Tea Market Growth

 

Pearl Milk Tea Market 

Global Pearl Milk Tea Market, by Ingredients (White Tea, Oolong Tea, Black Tea, Green Tea, and Others), by Flavored Powder (Frozen Coffee Powder,  Avocado Powder, Black Tea Powder, Almond Powder,  and Others), and by Distribution Channel (Hypermarket, Online Stores, Supermarket, Convenience Stores, Specialty Stores, and Others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis 2018-2026

The global pearl milk tea market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Pearl milk tea is also known as bubble tea and was invented in Taiwan. It mainly comprises of tea with tapioca balls. The tapioca balls look like bubbles and hence the pearl milk tea of it is also alternatively named as bubble tea. The pearl milk tea is made from tapioca balls of cassava plant that is mostly found in Brazil and South America. It is available in several flavors such as almond, coffee, chocolate and strawberry.

Competitive Landscape:

Key players operating in the global pearl milk tea market are Fokus Inc., Ten Ren's Tea Time, Bubble Tea House Company, Lollicup USA Inc.,Troika JC., (Qbubble), Boba Tea Company, Gong Cha USA, Bubblelicious Tea, Sumos Sdn Bhd, and Boba Box Limited.

Key Market Drivers:

The rising use of green tea, jasmine and black tea along with several Boba tea is anticipated to augment the growth of the global pearl milk tea market. For instance, as per O Chanet nearly 600,000 tons of green tea is being expended by the world’s population.

Moreover, rising prevalence of diseases such as obesity and diabetes mellitus leading to the sugar alternatives such as honey is anticipated to drive the growth of the global pearl milk tea market. For instance, as per Mansia Biotech above 2 billion geriatrics which accounts for 39% of the world’s population is suffering from obesity as of 2020. 

Covid-19 Impact Analysis:

The Covid-19 outbreak has to lead to an adverse impact on the global pearl milk tea market owing to the strict imposition of lockdown and social distancing which led to the closure of the restaurants and cafes and also a delay in transporting the goods and functioning it.

Key Takeaways:

The global pearl milk tea market is expected to exhibit a CAGR of XX % during the forecast period owing to increasing investment and product launches. For instance, TA Associates declared an investment in Gong Cha Group with respect to the huge expanding business chances for the products.

Among regions North America, Asia Pacific and Europe is anticipated to witness robust growth in the global pearl milk tea market owing to the inauguration of new cafes, rising intake of tea and the increasing geriatric populace who drink tea- origin fruity beverages. For example, in September 2020, Chen Shucheng is establishing a new pearl milk tea taking authorization in Singapore named Meme Xpress