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Bubble tea market will report 8.8% CAGR between 2021 and 2031

Growing demand for healthy alternatives to carbonated beverages is spurring demand for bubble tea and pearl milk tea. Consumers are seeking beverages made from natural ingredients, to keep the interest intact, demand for unconventional flavors is on the rise.

In response to this, beverage makers are launching unique flavors of bubble tea such as honeydew and mint with different shapes such as heart-shaped jelly bubbles. These efforts to enhance the flavor profile and visual appeal of beverages are expected to drive sales of bubble tea.

Growing penetration of social media is also driving the inclination towards bubble tea. Due to growing popularity and continuous trend on social media, consumers are shifting from conventional beverages to innovative formats. This trend is projected to continue in the forthcoming years, therefore augmenting the growth in the market.

Besides this, growing awareness regarding the health benefits of tea among millennials is driving their interest in bubble tea. Tea is a nootropic beverage, packed with antioxidants and anti-inflammatory benefits.

Bubble tea is emerging as an innovative format for tea consumption, which in turn is fueling sales of bubble tea in numerous cafes, fast food chains, and restaurants.

As per FMI, the U.S. is expected to emerge as a lucrative pocket in the North America bubble tea market, owing to the presence of key market players and growing popularity of alternative beverages. Singapore and Thailand are anticipated to experience high demand for bubble tea amid an influx of foreign bubble tea brands.

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“Growing demand for plant-based beverages is compelling beverage makers to launch bubble tea with milk alternatives such as oat milk. This trend is expected to bode well for the market in the forthcoming years. Further, increasing availability of bubble tea at vending machines and kiosks across high-traffic locations will continue pushing sales through 2031,” says an FMI analyst.

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