Latin America Bubble Tea Market Size & Outlook, 2022-2030
Latin America bubble tea market, 2017-2030 (US$B)
Related Markets
Latin America bubble tea market highlights
- The Latin America bubble tea market generated a revenue of USD 207.8 billion in 2022.
- The market is expected to grow at a CAGR of 7.2% from 2023 to 2030.
- In terms of segment, black tea was the largest revenue generating type in 2022.
- Green Tea is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 207.8 billion |
| Market revenue in 2030 | USD 361.8 billion |
| Growth rate | 7.2% (CAGR from 2022 to 2030) |
| Largest segment | Black tea |
| Fastest growing segment | Green Tea |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Black Tea, Green Tea, Oolong Tea, White Tea |
| Key market players worldwide | Ten Ren Tea, Gong Cha, Chatime, Lollicup USA, Inc., Bubble Tea Supply |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.6% of the global bubble tea market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,775.8 billion by 2030.
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Bubble Tea Market Scope
Bubble Tea Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America bubble tea market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bubble tea market will help companies and investors design strategic landscapes.
Black tea was the largest segment with a revenue share of 43.07% in 2022. Horizon Databook has segmented the Latin America bubble tea market based on black tea, green tea, oolong tea, white tea covering the revenue growth of each sub-segment from 2017 to 2030.
Increasing consumer interest in multicultural foods & drinks has been driving the demand for bubble tea in the region. This region is one of the key producers of bubble tea’s core ingredient, tapioca. Furthermore, the increasing number bubble tea specialized stores in the region is expected to boost the product demand in the coming years.
Initially, conventional tea houses offered bubble tea made with tea bags and flavored powder or syrup. However, with growing demand for the product, the presence of specialized bubble tea stores and outlets has increased gradually in the region. For instance, leading Taiwan-based tea franchisee Gong Cha entered the Central & South American market in 2019.
Traditional stores such as Gong Cha and San Francisco-based Boba Guys use loose tea leaf and milk to prepare their bubble tea and offer the traditional texture and taste of the product. The availability of traditional flavors as well as new and exciting drinks has been fueling the demand for bubble tea in Central & South America.
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Our clientele includes a mix of bubble tea market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America bubble tea market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America bubble tea market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America bubble tea market size, by country, 2017-2030 (US$B)
Latin America Bubble Tea Market Share, 2022 & 2030 (US$B)
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