Chai-ching: Bubble tea is brewing up serious profits in the US – The Hustle

Category: Tea Party

The Dot-Com Bubble. The Housing Bubble. The Bubble Bubble?

Bubble tea, or boba, has been the hottest tea trend in America over the last decade, and though the tapioca treats have been expanding across the nation at a rapid rate, this is one craze that doesnt appear to be at risk of popping anytime soon.

Americans interest in bubble tea, originally concocted in Taiwan in the 1980s, has gottensteamy hotin recent years, according toBloomberg. In 2023, the US market for the drink uh, food, uh, drink, uh is estimated to be worth $640m. A decade from now, estimates rise to $2.2B.

In 2022, with some 30.5m kilograms in the trunk, tapioca-based foods beat out frozen tilapia and sugar confectioneries as the most-valued US food import from Taiwan, rising to ~$50m from less than ~$15m in 2020.

Globally, Taiwans tapioca export value passed the $100m mark in 2021, up 23%.

Bubble tea franchises are growing quickly:

Think they threw a tea party to celebrate?

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Chai-ching: Bubble tea is brewing up serious profits in the US - The Hustle

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April 6th, 2023
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