With the evolving demand for ‘insta tea’, innovation in tea brews started gaining momentum. Tea, embraced as a global favorite, offers immense scope for the tea brewer to experiment and create new variants. Pearl milk tea refers to a sweet beverage made up of tapioca pearls and is usually served in two formats- with or without milk. Soon after pearl milk gained popularity, various flavored formats, notably the fruit flavors, also started witnessing high demand. Cafes and food establishments worldwide are focusing on combining their breakfast offerings with creative tea formats, such as pearl milk tea, which would help them improving their footfall via value-creation.
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Some of the key players operating in the pearl milk tea market have been profiled in this report, based on their revenue share, product developments, regional presence, and key focus areas. Few of the leading players profiled in the pearl milk tea market report include Bubbles Tea & Juice Company Caribou Coffee, Bubbles Tea & Juice Company, Bubble Tea House Company, CuppoTee, Boba Box Limited, Fokus Inc., CoCo Fresh Tea & Juice, Gong Cha, Sumo’s (M) Sdn Bhd, Lollicup USA, Inc., Troika JC., and Ten Ren’s Tea Time.
With the young generation seeking new tea varieties to savor, Caribou Coffee, in 2018, introduced a new beverage line featuring bubble teas and coffee. Unlike other options that are available on the market shelves, ‘Caribou’s Bubbles’ are prepared by using clean label ingredients. Some of the new bubble drinks by Caribou Coffee would include Matcha Tea Cooler, Raspberry Green Tea, and Caramel Coffee Cooler.In 2018, CoCo Fresh Tea & Juice- a leading bubble tea brand, inaugurated its new functional business unit in the location of Fisherman’s Wharf, San Francisco, Northern California. This new unit would be offering premium drinks, excellent hospitality, and best quality control. The launch of this unit by Coco Fresh Tea & Juice would help in the company’s business expansion via new opportunities.
The pearl milk tea is widely desired for its unique concoction of chewy tapioca pearls with tea and milk. One of the key aspects fuelling investments in pearl milk tea market is the perfect combination of taste and appeal. Eye-catching patterns of tapioca pearls, unconventional toppings, and fresh look, are among the key factors boosting demand for pearl milk tea, driving growth of pearl milk tea market. Key players in the pearl milk tea market are reinventing their products by via creative toppings and flavors to serve a new generation of consumers.
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Indoor cafes and establishments are competing head-on with grab-and-go street shops in terms of improving their footfall, as grab-and-go shops use the factor of ‘convenience’ to attract customers. While grab-and-go shops continue to offer a greater conveniences factor, indoor cafes and establishments offer a perfect blend of ambiance and luxury.
Tea remains a staple in Asia Pacific and has been positioned among the list of highly-consumed beverages of all times. Tea has umpteen layers of wellness & health and remains an indispensable variety in the list of Asians’ beverage preferences. With the unabated favoritism for tea in the Asia Pacific, new tea varieties with innovative formats are also gaining immense traction, driving growth of pearl milk tea market. With trends for instant tea varieties cropping up here & there in, growth of pearl milk tea continues to scale up in the Asia Pacific region. This, in turn, is likely to create sustained opportunities for the producers in the pearl milk tea market to tap into new customer segments.