Why Bubble Tea is the Next Big Thing in Asia and Beyond
The demand for the beverage is increasing across the region
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.