North America Bubble Tea Market Size & Outlook, 2022-2030
North America bubble tea market, 2017-2030 (US$B)
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North America bubble tea market highlights
- The North America bubble tea market generated a revenue of USD 991.4 billion in 2022.
- The market is expected to grow at a CAGR of 8.4% 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, U.S. is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 991.4 billion |
| Market revenue in 2030 | USD 1,892.4 billion |
| Growth rate | 8.4% (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, North America region accounted for 36.0% 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 |
|---|
North 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 43.05% in 2022. Horizon Databook has segmented the North 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.
Customers are increasingly moving towards bubble tea due to its unique but delicious taste, texture, and the goodness of tapioca pearls. Asians residing in countries such as the U.S., Canada, and Mexico are acting as catalysts for bubble tea market growth.
Moreover, major players are aggressively opening multiple stores across the region in order to increase the popularity as well as sales of the product. For instance, in March 2020, Chatime, a renowned bubble tea brand in Canada, inaugurated its new store in King & Jarvis, Toronto, Canada. The company has more than 20 stores serving bubble tea across Toronto. These market trends foretell high market growth over the forecast period.
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Target buyers of North America bubble tea market databook
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Our clientele includes a mix of bubble tea market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the North America bubble tea market, including forecasts for subscribers. This continent databook contains high-level insights into North America bubble tea market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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North America bubble tea market size, by country, 2017-2030 (US$B)
North America Bubble Tea Market Share, 2022 & 2030 (US$B)
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