The North America Bubble Food & Beverages Market would witness market growth of 8.4% CAGR during the forecast period (2022-2028).
The U.S. has a number of boba vendors which are out of tapioca. The exports of fully formed boba originated in Taiwan while the export of cassava root, which is required to manufacture tapioca, came from Thailand & Pacific Ocean islands. The vendors stated that the companies' current tapioca supply was running short and due to this reason, product shipments had been delayed for several months. The popularity of bursting boba and bubble foods and drinks has been fueled by the variety of sauces and toppings, flavors, and combinations of taste and texture that are available. Market participants are learning about the immersive boba experience and current customer preferences, which bodes well for market growth.
North America is accounting for the high demand for bubble food & beverages. The demand for bubble food & beverages is being driven by consumers' willingness to spend a high price for healthy foods and beverages in nations having high disposable incomes like the U.S. and Canada. The increasing number of product releases by key regional businesses will further support overall growth. It is hardly surprising that Canadians are highly consuming bubble tea given how diverse Canada is. The top cities for getting the bubble tea fix are hailed as Vancouver & Toronto, both of which have an excellent list of international chains & locally owned businesses.
The US market dominated the North America Bubble Food & Beverages Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,441.4 Million by 2028. The Canada market is poised to grow at a CAGR of 10.8% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 9.8% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into On-trade and Off-trade. Based on Off-trade Type, the market is segmented into Hypermarkets & Supermarkets, Online and Others. Based on Source, the market is segmented into Tapioca-based, and Bursting Bubble. Based on Product, the market is segmented into Bubble Tea, Desserts, Fruit Snacks, Fruit Beverages and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Bubble Food & Beverages Market is Estimated to reach $7 Billion by 2028, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Del Monte Pacific Limited, Bubble Tea Club, Fokus Inc., Gong Cha, Ten Ren Tea Co., Ltd., Modoo Food Ltd., Lollicup USA Inc., and Bubble Tea Supply Inc.
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