Bubble Tea Market 2019-2023 | 7.40% CAGR Projection Over the Next Four Years
Bubble tea market was valued at $1,957 million in 2016, and is projected to reach $3,214 million by 2023, growing at a CAGR of 7.40% from 2017 to 2023. The black bubble tea segment accounted for more than 42% share of the global bubble tea market in 2016. Bubble tea is a widely consumed flavored beverage containing tea as the basic component, along with chewy tapioca balls. It originated in Taiwan and is known by various names such as pearl milk tea, bubble milk tea, boba juice, boba tea, or simply bubble tea. The bubble tea market is driven by cost-effective price and health benefits associated with bubble tea. However, the addition of artificial preservatives & color and presence of excess sugar in bubble tea restrain the market growth. The introduction of new flavors of bubble tea and decreases in demand for carbonated drinks provide opportunities for market expansion. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/3194 By base ingredient
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