The global Tapioca Pearls Market size is expected to reach USD 5.2 Billion in 2022. As per Future Market Insights (FMI), the global market is likely to exhibit steady growth at a CAGR of 2.4% in the forecast period from 2022 to 2032. It is anticipated to be valued at USD 8.6 Billion in 2032. Increasing awareness regarding the benefits of these pearls is projected to boost growth.
| Report Attribute | Details |
|---|---|
| Tapioca Pearls Market Estimated Base Year Value (2021) | USD 4.8 Billion |
| Tapioca Pearls Market Expected Market Value (2022) | USD 5.2 Billion |
| Tapioca Pearls Market Anticipated Forecast Value (2032) | USD 8.6 Billion |
| Tapioca Pearls Market Projected Growth Rate (2022 to 2032) | 2.4% CAGR |
Sales of tapioca pearls are likely to surge at a fast pace in the food and beverage sector. These are extensively used to thicken liquid food items, such as pudding. Apart from that, these are used in cosmetics, glue, and textile as a stabilizing agent.
Healthcare professionals often recommend the consumption of tapioca pearl infused food and beverages to pregnant women as these are rich in folate, magnesium, iron, and calcium. The demand for tapioca pearls is anticipated to grow in future years with the increasing healthcare awareness among consumers.
These have recently gained immense popularity across the globe owing to the trend of consuming Taiwanese bubble tea, commonly known as boba tea. Fast food restaurant chains, such as McDonald’s have also started selling dessert beverages with tapioca pearls across Europe to upgrade their existing menu.
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The surging consumption of coffee and tea as nootropic beverages among the working-class population and students is a major factor that is likely to push the tapioca pearls market growth in the evaluation period.
Researchers have found that moderate consumption of low calorie and zero fat hot beverages, such as bubble tea, can enhance brain function and boost concentration. This factor is also projected to propel the growth in this market.
Moreover, the availability of multiple flavors, such as simple classics, coffee, chocolate, and fruits in the bubble tea sector is anticipated to bode well for the market. Rising inclination of consumers towards hot beverages from carbonated drinks owing to their numerous health benefits is also set to fuel growth.
Although bubble tea is usually made with green or black tea, it can also contain high quantities of sugar. Depending on the flavor, a 16-ounce serving of bubble tea can contain nearly 36 to 65 grams of sugar.
Thus, drinking bubble tea on a daily basis can increase an individual’s risk of heart diseases, obesity, and diabetes.
In addition, the lack of fiber and high dairy content in this type of tea can result in constipation and abdominal pain. Spurred by the aforementioned factors, the demand for tapioca pearls may decline in the near future.
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The increasing production and sales of tapioca pearl infused boba tea in Thailand, Singapore, Taiwan, and Japan are likely to propel the Asia Pacific tapioca pearls market share. Key players in these countries are also focusing on launching new beverages with innovative flavors to attract more consumers.
In July 2021, for instance, Signature by KOI, a popular tea outlet based in Singapore, introduced two new alcoholic beverages, namely, Whiskey Oriental and VSOP Chocolate in the country. The VSOP Chocolate is made with Brandy VSOP and chocolate milk.
It can be topped with mini bubbles, boba, and coconut jelly. Whiskey Oriental is made with whiskey and Oriental Beauty Tea. The introduction of similar other unique beverages is set to augment the Asia Pacific market.
North America is expected to remain in the second position in terms of share in the tapioca pearls market. The rising popularity of tea-based fruity beverages in the USA and Canada is projected to accelerate the sales of boba tea, thereby expanding the tapioca pearls market size.
Rising number of bubble tea outlets across North America owing to the surging demand from youngsters and health conscious populations is another vital factor that is set to drive growth.
Starbucks, for instance, announced that it is experimenting with its own version of boba-style iced coffee in the USA Such innovations by tea and coffee shop giants are anticipated to bolster the North America market.
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Some of the renowned companies operating in the global tapioca pearls market include Universal Thai International Enterprise Co. Ltd., US Boba Company, Reese Finer Foods Inc., American Key Food Products, Thai Wah Public Company Limited, INDEMIL LTDA., and Lollicup USA Inc. among others.
Majority of the leading companies are focusing on expanding their manufacturing capacities to cater to the ever-increasing demand from consumers. They are also striving to gain a competitive edge by launching innovative products for the food and beverages industry.
Meanwhile, a few other key players are engaging in mergers and acquisitions, collaborations, and joint ventures to compete with their rivals.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 2.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Size, End Use, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Universal Thai International Enterprise Co. Ltd.; US Boba Company; Reese Finer Foods Inc.; American Key Food Products; Thai Wah Public Company Limited; INDEMIL LTDA.; Lollicup USA Inc. |
| Customization | Available Upon Request |
The global tapioca pearls market is anticipated to surpass USD 8.6 Billion in 2032.
Asia Pacific is set to lead the tapioca pearls market in the forecast period.
Universal Thai International Enterprise Co. Ltd., US Boba Company, Reese Finer Foods Inc., American Key Food Products, and Thai Wah Public Company Limited are some of the renowned companies in the tapioca pearls market.
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Tapioca Pearls Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
5. Global Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Size
5.1. Small (< 5 mm)
5.2. Medium (5 - 8 mm)
5.3. Large (> 8 mm)
6. Global Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Nature
6.1. Organic
6.2. Conventional
7. Global Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use
7.1. Industrial Processing
7.2. Food Service/HoReCa
7.3. Household/Retail
8. Global Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
8.1. North America
8.2. Latin America
8.3. Europe
8.4. East Asia
8.5. South Asia & Pacific
8.6. MEA
9. North America Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10. Latin America Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11. Europe Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12. East Asia Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13. South Asia & Pacific Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14. MEA Tapioca Pearls Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
15. Key Countries Tapioca Pearls Market Analysis
16. Market Structure Analysis
17. Competition Analysis
17.1. E-Fa
17.2. Andes Food
17.3. BBT Club
17.4. Boba Green
17.5. Bolle
17.6. See Smell Taste
17.7. Hoosier Hill Farm
17.8. Fusion Select
17.9. Buddha Bubbles
17.10. Ting Jean Foods
18. Assumptions & Acronyms Used
19. Research Methodology
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