NEW YORK, Aug. 24, 2022 /PRNewswire/ -- From $3,356.2 million in 2021, the bubble food and beverages market size is expected to advance to $8,096.2 million by 2030, at a 10.3% CAGR. Bubble food and beverages, which contain tapioca balls for extra nutrition, were created in Taiwan and have now become vastly popular, especially among the young.
Major Growth Factors
- The demand for such products is driven by the youths' desire for boba-based food and beverages. For instance, bubble tea is considered a healthier and tastier alternative to conventional tea.
- People's increasing focus on their health and fitness is impelling them to raise their intake of pure carbohydrates, proteins, and fibers, all of which are provided by food products containing tapioca (cassava).
- A key driver for the market is, thus, the COVID-19 pandemic, as it has strengthened people's attention on immunity and overall health.
- Moreover, being a new-age product, bubble food and beverages are advertised in innovative, quirky, colorful, and fun ways, which helps companies target college-goers and young adults.
- Moreover, consumers are beginning to prefer food products that are organic, vegan, and free of gluten, dairy, and lactose.
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Segmentation Analysis
- Bubble tea has been the most-popular product for a while, and the situation will continue being so over this decade. This can be ascribed to the launch of bubble tea in various flavors in key markets, such as China, Australia, and Thailand.
- Desserts are next on the list, with millennials experimenting with their food choices. Thus, they are going for tapioca-based desserts with added flavors, such as strawberries, green tea, mangoes, honey melons, oranges, and pomegranates.
- The third-largest share in the market is held by fruit snacks, which are widely popular among children who would rather have jellies over actual fruits.
- The on-trade distribution channel will see the faster increase in sales revenue due to people's growing interest in cafes, clubs, restaurants, and other fine-dining places.
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Regional Outlook
- The highest demand for such products is generated in APAC, where they were created. This is also partially because of the existence of a number of companies offering such products in China, India, Thailand, Japan, New Zealand, and Australia.
- These companies offer a range of boba-containing products, including desserts, waffles, and pies, which have piqued the interest of the younger generations.
- The fastest bubble food and beverages market advance will be seen in North America, where a number of restaurants have opened in the recent past serving bubble tea.
- For instance, MBambu's fruit juices, Vietnamese coffees, boba milk teas, and Chè dessert drinks are especially popular in NYC.
- Europe holds the second-largest share in the market on account of the growing popularity of tapioca-containing green tea, oolong tea, black tea, white tea, and other such healthy beverages.
Global Bubble Food and Beverages Market Report Coverage
By Product
- Fruit Snacks
- Desserts
- Fruits Beverages
- Bubble Tea
By Source
- Tapioca-based
- Bursting Bubbles
By Distribution Channel
- On Trade
- Off Trade
- By Hypermarket & Supermarket
- Online
Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Saudi Africa
- Saudi Arabia
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