BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects GCC bubble food and beverages market size to expand at a high CAGR of 13.4% during the forecast period between 2022 and 2028. The expansion of GCC bubble food and beverages marketis driven by increasing popularity of boba-based snacks and drinks, rising consumer health consciousness, and demanding halal labeling and certification standards. Millennials and generation Z spur the demand for bubble food and drinks and their growing inclination for convenience, high-quality standards, and nutritious beverages are projected to fuel the growth of GCC bubble food and beverages market. Furthermore, deepening social media penetration and availability of boba as well as bubble-based snacks and beverages in a variety of combinations of taste and texture, and sauces, toppings and tastes are expected to further drive the market during the forecast period. However, the availability of other alternative beverages is anticipated to limit the growth of GCC bubble food and beverages market during the period in analysis.
GCC Bubble Food and Beverages Market– Overview
Bubble tea, a Taiwanese tea-based beverage, was originated in Tainan and Taichung. It is also known as pearl milk tea, boba juice, bubble milk tea, or simply boba or boba tea. Most of bubble tea formulations commence with a tea base that has been mixed with fruit or milk along with chewy tapioca balls, sometimes known as bubbles, pearls, boba, and fruit jelly. Ice-blended drinks often have a slushy consistency and incorporate fruit or syrup. The beverage is available in a range of flavors and comprises a variety of ingredients. Tapioca-infused bubble milk tea and tapioca-infused bubble milk green tea are the two most popular tastes.
GCC bubble food and beverages market is booming due to growing popularity of boba-based snacks and drinks. Effective advertising campaigns and celebrity endorsements have also contributed to the growth of bubble food and beverages market in the GCC region. The development of several new flavors and combinations and the increasing demand for a variety of beverages among youngsters are expected to provide lucrative growth opportunities for major players in GCC bubble food and beverages market.
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Segmental Information
GCC Bubble Food and Beverages Market – By Distribution Channel
Based on distribution channel, GCC food and beverages market is segmented into Off-trade and On-trade channels. The off-trade distribution channel segment holds a higher share in the market. The off-trade segment includes online stores, hypermarkets, grocery stores, and other retailers. Due to increasing use of smartphones and deepening penetration of internet across GCC countries, consumers have access to e-commerce platforms and online businesses that market their products to all consumer touchpoints. It is expected to propel the growth of off-trade segment in GCC food and beverages market during the forecast period.
Impact of COVID-19 on GCC Bubble Food and Beverages Market
COVID-19 pandemic had a detrimental impact on most of the sectors especially bubble food and beverages market due to stringent lockdown imposition on restaurants, farms, and processing units to maintain safety precautions and social distancing. Due to a lack of staff and fewer consumer visits to coffee shops, this resulted in transportation delays and the operation of both supply and demand for consumption points came to a halt. It, consequently, affected the growth of GCC bubble food and beverages market.
Competitive Landscape
GCC Bubble Food and Beverages Market is highly competitive. Prominent players in the market include Del Monte Foods, Happy Lemon, Sharetea, Zero Degrees, Booba, The Bubble Tea, TabiBoba Café, Go-Ssip, iTea Café, and Chobcha. To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, mergers and acquisitions, collaborations, partnerships, and joint ventures.
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