Boba Market Report 2024 (Global Edition)

Global Boba Market Report 2024 Market Size Split by Base Ingredient (Black Tea , Green Tea , Oolong Tea , White Tea , Others ), by Sugar Content (Regular , Reduced Sugar/Sugar-Free ), by Toppi...

Boba Market Report Description

We have various report editions of Boba Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Boba Market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge products, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Top Companies Market Share in Boba Industry: (In no particular order of Rank)

• Kung Fu Tea
• Gong Cha
• Boba Guys
• Chatime
• ShareTea
• 8tea5
• Quickly
• CoCo Fresh
• ViVi Bubble Tea.
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Boba

Which Region Dominates the Boba Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The boba market has grown significantly in North America, as more and more boba businesses are sprouting up over the continent. Due in large part to the influence of social media and the growing acclaim for Asian food and drink, boba has gained popularity among customers looking for unusual and tasty drinks. There is no indication that this tendency will abate, suggesting a bright future for the boba sector in North America.

Which Region is Expanding at the Fastest CAGR?

The Europe region is witnessing an increase, in the sales of reagents. The boba market in Europe is growing, and more and more boba shops are opening up across the continent. A growing interest in Asian cuisine and worldwide culinary trends have influenced Europeans to embrace the vibrant and savory world of boba cocktails. Additionally, social media is a major factor in the popularization of boba, increasing consumer knowledge and interaction. The European boba market has a bright future thanks to its expansion.

The current report Scope analyzes Boba Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Boba Market

According to Cognitive Market Research, the global Boba market size was estimated at USD 2512.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1004.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031. The boba market in North America has expanded rapidly due to a variety of causes, such as social media's influence, changing customer preferences, and cultural diversity. Vibrant urban centers, where a growing food and beverage scene draws in both locals and tourists, are one important sector of this market. Customers are spoiled for choice with so many boba shops offering creative flavors and personalized options. This market segment highlights the vibrant and dynamic nature of the industry by providing boba enthusiasts with a focal point while also making a substantial contribution to the cultural tapestry and economic vibrancy of North American cities.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Boba market with a market size of USD 792.85 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. The demand is amplified by the multicultural landscape embraces diverse culinary experiences, fostering the popularity of boba among a wide range of demographics.
• The Canada Boba market had a market share of USD 120.59 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period. Canada's dense urban areas, particularly on the coasts, boast a high concentration of boba shops, catering to young, cosmopolitan populations seeking trendy beverages.
• The Mexico Boba market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 91.44 million in 2024.

Europe Boba Market

According to Cognitive Market Research, with a market value of USD 2512.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 753.66 million. The boba market is steadily expanding in Europe thanks to a rising interest in international cuisine and cross-cultural interactions. A prominent market niche is young urban centers, where a diverse populace is looking for new culinary and drink experiences. These places have boba shops that appeal to a variety of tastes and preferences by combining traditional and modern flavors. In addition to enhancing culinary options, boba's growing integration into European culinary scenes also promotes cross-cultural interactions, underscoring the market's potential for long-term expansion and innovation.

• The United Kingdom Boba market had a market share of USD 126.61 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period. In the UK, Boba sales witness an upswing due to the platforms like instagram and tiktok play a significant role in driving boba's popularity, with visually appealing drinks becoming social media sensations, especially among millennials and gen z.
• The France Boba market is projected to witness growth at a CAGR of 6.7% during the forecast period with a market size of USD 69.34 million in 2024.
• According to Cognitive Market Research, the Germany Boba market size was valued at USD 149.22million in 2024 and is projected to grow at a CAGR of 7.7% during the forecast period. In Germany, Boba sales surge due to the originating strong sentimental value and continues to thrive as a beloved traditional beverage. 
• The Italy Boba market is projected to witness growth at a CAGR of 6.9% during the forecast period with a market size of USD 64.81 million in 2024.
• The Russia Boba market is projected to witness growth at a CAGR of 6.5% during the forecast period with a market size of USD 116.82 million in 2024.
• The Spain Boba market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 61.80 million in 2024.
• The Luxembourg Boba market is projected to witness growth at a CAGR of 7.6% during the forecast period with a market size of USD 23.36 million in 2024.
• The Portugal Boba market is projected to witness growth at a CAGR of 7.3% during the forecast period with a market size of USD 15.83 million in 2024.
• The Greece Boba market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 9.04 million in 2024.
• Rest of Europe Boba market is projected to witness growth at a CAGR of 6.2% during the forecast period with a market size of USD 116.82 million in 2024.

Asia Pacific Boba Market

According to Cognitive Market Research, the global Boba market size was estimated at USD 2512.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 577.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.0% from 2024 to 2031. The boba market is a thriving cultural pillar and innovation hub in the Asia-Pacific area. Boba shops are a prominent feature of the urban fabric in bustling metropolises, making them a noteworthy component of this industry. Customers can choose from a wide variety of boba offerings here, ranging from avant-garde innovations to timeless classics. Boba's presence throughout Asia-Pacific cities is evidence of its lasting popularity and significance in the region's culinary landscape, emphasizing its essential role in pushing cultural trends and culinary exploration. Boba continues to evolve and adapt to changing customer preferences.

• According to Cognitive Market Research, the China Boba market size was valued at USD 260.01 million in 2024 and is projected to grow at a CAGR of 10.5% during the forecast period. Boba sales surge in China due to the vast market is marked by a wide array of boba options, ranging from street vendors to upscale tea houses, catering to diverse tastes and preferences.
• The Japan Boba market is projected to witness growth at a CAGR of 9.5% during the forecast period with a market size of USD 79.74 million in 2024.
• The India Boba market had a market share of USD 79.74 million in 2024 and is projected to grow at a CAGR of 12.8% during the forecast period. The demand is augmented by India's companies are at the forefront of boba-related technological advancements, from automated boba-making machines to digital ordering platforms, enhancing convenience and efficiency.
• The South Korea Boba market is projected to witness growth at a CAGR of 10.1% during the forecast period with a market size of USD 57.78 million in 2024.
• The Australia Boba market is projected to witness growth at a CAGR of 10.7% during the forecast period with a market size of USD 30.05 million in 2024.
• The South East Asia Boba market is projected to witness growth at a CAGR of 12.0% during the forecast period with a market size of USD 39.87 million in 2024.
• The Rest of Asia Pacific Boba market is projected to witness growth at a CAGR of 10.8% during the forecast period with a market size of USD 41.02 million in 2024.

South America Boba Market

According to Cognitive Market Research, the global Boba market size was estimated at USD 2512.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 125.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.4% from 2024 to 2031. The boba market in Latin America is expanding rapidly due to a combination of innovative cuisine and cultural curiosity. The dynamic metropolitan districts, where a growing cosmopolitan populace searches out unusual and exotic flavors, are one notable component within this market. In order to satisfy a wide range of tastes and preferences, boba businesses in these places combine classic Latin American ingredients with Asian-inspired boba creations. As boba is incorporated more and more into Latin American cuisine, it promises more growth and exploration in the area while also enhancing the culinary options and acting as a symbol of creative cooking and cross-cultural exchange.

• According to Cognitive Market Research, the Brazil Boba market size was valued at USD 53.76 million in 2024 and is projected to grow at a CAGR of 9.0% during the forecast period. Boba sales flourish in Brazil due to the nation's thriving consumers, known for their adventurous palate and interest in global cuisine, are increasingly embracing boba as a novel and flavorful beverage option.
• The Argentina Boba market had a market share of USD 21.10 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. The demand is augmented by Argentina's commitment to major cities like berlin and munich are hubs of culinary experimentation, attracting boba enthusiasts and fostering a vibrant boba scene.
• The Colombia Boba market is projected to witness growth at a CAGR of 8.2% during the forecast period with a market size of USD 11.18 million in 2024.
• The Peru Boba market is projected to witness growth at a CAGR of 8.6% during the forecast period with a market size of USD 10.30 million in 2024.
• The Chile Boba market is projected to witness growth at a CAGR of 8.7% during the forecast period with a market size of USD 9.04 million in 2024.
• The Rest of Latin America Boba market is projected to witness growth at a CAGR of 7.5% during the forecast period with a market size of USD 20.22 million in 2024.

Middle East and Africa Boba Market

According to Cognitive Market Research, the global Boba market size was estimated at USD 2512.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 50.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031. The boba market is expanding across the Middle East and Africa due to a growing interest in international culinary trends and younger demographics. Dynamic urban centers, where a confluence of cultures produces a fertile foundation for culinary inventiveness, are one noteworthy segment within this industry. These regions' boba businesses combine inventive boba creations with conventional Middle Eastern ingredients to give a wide variety of flavors and combinations. As boba becomes more popular in the area, it not only refreshes the culinary scene but also promotes intercultural understanding, which bodes well for future expansion and diversification of the boba market throughout the Middle East and Africa.

• According to Cognitive Market Research, the GCC Countries Boba market size was valued at USD 21.50 million in 2024 and is projected to grow at a CAGR of 9.5% during the forecast period. Boba sales flourish in the GCC Countries due to growing environmental consciousness consumers drives demand for sustainable boba products and packaging, prompting businesses to adopt eco-friendly practices.
• The Egypt Boba market is projected to witness growth at a CAGR of 9.0% during the forecast period with a market size of USD 5.28 million in 2024.
• The South Africa Boba market is projected to witness growth at a CAGR of 9.7% during the forecast period with a market size of USD 7.94 million in 2024. Boba sales flourish in the South Africa due to the with a large population of young adults and students, the  boba market benefits from a demographic that is receptive to trendy and instagram-worthy food and beverage options.
• The Turkey Boba market is projected to witness growth at a CAGR of 8.2% during the forecast period with a market size of USD 4.32 million in 2024.
• The Nigeria Boba market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 5.28 million in 2024.
• The Rest of MEA Boba market is projected to witness growth at a CAGR of 7.7% during the forecast period with a market size of USD 5.93 million in 2024.

Boba Market Analysis

Boba Base Ingredient Segment Analysis

According to Cognitive Market Research, Black Tea, held the major market share over the forecast period. In the expanding boba market, black tea is gaining popularity as a powerful and rich substitute for conventional green or fruit-based teas. Due to its rich flavor profile and adaptability, black tea has emerged as a preferred option for boba lovers who want a more nuanced flavor. Its popularity indicates a larger trend in the boba sector toward innovation and exploration, indicating potential for expansion and diversification in the future.

Green Tea is the fastest-growing category over the forecast period. With its invigorating flavor and manifold health advantages, green tea is becoming a mainstay of the booming boba industry. Green tea-infused boba drinks provide a tasty yet healthy alternative as consumers seek out better beverage options. Green tea has gained popularity among boba lovers due to its delicate flavor and brilliant color, which is propelling innovation and expansion in the industry.

• Black Tea 
• Green Tea 
• Oolong Tea 
• White Tea 
• Others 

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Boba Industry. Request a Free Sample PDF!

Boba Sugar Content Segment Analysis

According to Cognitive Market Research, Regular hold a prominent market share. In the expanding boba market, "regular" boba—which frequently refers to traditional flavors like milk tea with tapioca pearls—remains a mainstay. Even with all of the new flavors and toppings that have been introduced, traditional boba products still draw in a devoted following. There will always be a place for traditional boba alongside more recent innovations thanks to their enduring appeal and reassuring familiarity.

Reduced Sugar/Sugar-Free is the fastest-growing category over the forecast period. In the expanding boba industry, reduced-sugar and sugar-free varieties are gaining popularity among consumers who are health-conscious. As people become more conscious of the harmful effects of consuming too much sugar, there is an increasing desire for healthier options. By providing lower-sugar or sugar-free versions of their beverages, boba shops are satisfying consumer demand, drawing in a rising number of health-conscious clients and propelling market expansion.

• Regular 
• Reduced Sugar/Sugar-Free 

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Boba Toppings Segment Analysis

According to Cognitive Market Research, Pearl, held the major market share over the forecast period. Pearl, sometimes referred to as tapioca pearls, is a key component of the boba market's expansion. Pearls are a popular ingredient in boba beverages because of their chewy texture and flavor-absorbing capacity. As a result of their growing popularity, pearls have been produced in a wider range of sizes, colors, and flavors, which has enhanced the boba drinking experience and fueled market expansion.

Grass Jelly is the fastest-growing category over the forecast period. In the expanding boba business, grass jelly—a traditional Southeast Asian ingredient—is gaining popularity. Grass jelly, which is prized for its peculiar texture and delicate herbal flavor, gives boba drinks a unique twist that appeals to taste-testers who are open to trying new flavors. Its increasing popularity at boba shops is a reflection of the industry's broader tendency toward experimentation and diversity, which supports the industry's ongoing development.

• Pearl 
• Grass Jelly 
• Coconut Jelly 
• Red Bean 
• Multiple/Others 

Boba Distribution Channel Segment Analysis

According to Cognitive Market Research, Direct (B2B), held the major market share over the forecast period. By providing boba shops and vendors with machinery, equipment, and ingredients, the direct (B2B) segment is helping the boba market expand. A stable and dependable supply chain is essential to meeting the growing demand for boba products, and this is where B2B suppliers come into play. Their assistance enables boba companies to thrive and better serve customers, which propels the industry's further expansion.

Indirect (B2C) is the fastest-growing category over the forecast period. The network of suppliers, distributors, and retailers who carry boba goods to customers is known as the indirect (B2C) sector, and it plays a significant role in the expansion of the boba industry. These organizations help make boba drinks more widely available and well-liked by promoting them, providing routes for distribution, and interacting with customers. Their function in facilitating the connection between producers and customers plays a major role in the growth and sustainability of the boba market.

• Direct (B2B) 
• Indirect (B2C) 
• Online Retailing

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

LinkedIn

Profile

I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

Author's Conclusion