Why Bubble Tea is the Next Big Thing in Asia and Beyond The demand for the beverage is increasing across the region
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The global bubble tea market is estimated to hit $US 3,214 million by 2023 from $1,957 million in 2016, growing at a compound annual growth rate of 7.40% from 2017 to 2023, according to a report.
The Allied Market Research report, "Bubble Tea Market by Base Ingredient, Flavor, and Component: Global Opportunity Analysis and Industry Forecast, 2017-2023", states that given the health benefits of green tea, the green bubble tea segment is estimated to be the most lucrative segment from 2017 to 2023, and account for one-third share of the global bubble tea by 2023.
We spoke to Jonathan Kwon, the chief executive officer of T Bun, at the Franchise India Expo 2018 to know the reason behind the popularity of the bubble tea market.