Moreover, countries such as Japan, China, the U.S., and Canada are the major consumers of pearl milk tea and have also experienced a slight dip in their growth due to hindrances in production as well as supply chains during the year 2020-21. For instance, the base ingredients required for the preparation of black or green tea are exported from India, but due to the imposed regulations, companies were unable to process the demands of the manufacturers. According to the Indian Tea Association 2020, tea price has risen by 25%-40% on average due to lockdown in the tea growing regions, leading to a drop in crop size along with disruptions in transportation and logistics.įurthermore, a decline in the growth of product consumption is witnessed due to strong restrictions on import and export facilities. This has led to transportation delays and the functioning of both supplies (tea estates) and demand for consumption points to a standstill due to a shortage of manpower and reduced visits of customers to coffee shops amidst the lockdown. The outbreak of COVID-19 forced government bodies to impose strict closure of restaurants, farms, and factories to maintain safety measures and implement social distancing. Rising Raw Material and Transportation Cost Due to the Pandemic to Slow Down the Market Growth In addition, the growing gastronomic tourism, rising number of health-conscious individuals, and increased social media influences further paved the way toward growing potential.
For instance, Nextrends Asia 2021 displayed a 330% surge in Taiwan’s exports of pearl milk tea’s base ingredients (raw materials, packaging and machinery, and others) compared to 2018. Bubble tea has emerged as a cultural icon for the world and symbolizes Taiwan’s food innovation to promote its existence amidst the food service industry. This popular sweetened tea is made up of high-quality milk and sweetener liquid tapioca pearls along with creamer, fruit powder, and sweeteners. The beverage is now considered a mainstay due to its unique formulation. The bubble tea trend has continued to soar in its originating region, later gaining traction in other western countries, such as Canada and the U.K.
COCO BUBBLE TEA UPGRADE
Up till today, we never cease to develop new product lines, upgrade the customer experience, and broaden the accessibility to our brand, thus penetrating into the worldwide markets, and becoming the global leading brand.The global bubble tea market size was valued at USD 2.29 billion in 2022 and is projected to grow from USD 2.46 billion in 2023 to USD 4.08 billion by 2030, exhibiting a CAGR of 7.51% during the forecast period.
COCO BUBBLE TEA PROFESSIONAL
We provide creative tea drink including: fresh tea, milk tea, fruit tea, yogurt drink, coffee and other beverage products, to drink lovers around the worldĪs our franchisees seeks to provide drinks that give people sparks of happiness and warmth, CoCo Fresh Tea & Juice support our partners and franchisees worldwide with our professional training programs, well-designed evaluation system, innovative products, and the assistance of our highly experienced management team.ĬoCo continuously dedicate ourselves in innovating and progressing to build a sustainable and profitable business system. Through high standard of quality, consistency, and service, we have established more than 4000 stores around the world. Through 22 years of development, CoCo has became the global leading brand in the bubble tea industry. CoCo Fresh Tea & Juice is founded in 1997 by our Chairman Tommy Hung.
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