Bubble tea is a drink made by brewing black tea and mixing it with milk and sugar. It’s then poured over ice and tapioca balls. Bubble tea is also known to be a lighter alternative to milkshakes and desserts. The fun part about Bubble tea is slurping up the sweet and chewy tapioca balls also called pearls through the big straw. It’s like having a drink and dessert in one.
From the year 2018, the national bubble tea day was declared on the 30th of April. This date was specifically chosen because it marked the day in 2010 when Kung Fu Tea, a popular bubble tea brand opened its first American bubble tea shop in New York City.
Market Statistics
According to the latest market research, the global Bubble Tea industry was worth approximately $3 billion in 2022. Analysts project that the market will continue to grow steadily over the next decade, reaching an estimated value of $5.4 billion by the year 2032. This represents a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2023 to 2032.
Source: Allied Market Research
