Over the past few years, milk tea has gained popularity all over the world. Tea, milk, and sweeteners are used to make this tea-based beverage, which is frequently served with chewy tapioca pearls, also known as boba. But who exactly is the milk tea target market? Is milk tea just a fad or will it stick around? This article will look at the market for bubble tea, the demographics of milk tea drinkers, and which generation consumes the most tea.
Let’s start by discussing if milk tea is only a fad. While milk tea has been consumed for many years in various Asian nations, it has only recently become more widely accepted. By 2023, the milk tea market in the US is anticipated to grow to $3.5 billion. This expansion is not just confined to the US market; milk tea is also becoming more and more well-liked in the UK, Australia, and other nations. Therefore, it is reasonable to assume that milk tea is a beverage that will not go out of style.
Let’s move on to who consumes milk tea the most. While milk tea is enjoyed by people of all ages, millennials and Generation Z are the biggest fans. This group is drawn to the distinctive flavors and adaptable choices that milk tea establishments provide. The social and cultural experience of drinking milk tea with friends and using social media is also valued by this age group. Through social media channels like Instagram, which is popular among these age groups, milk tea cafes frequently promote their brand.
Let’s now investigate the bubble tea market. Milk tea in the form of bubble tea often contains chewy tapioca pearls. The 1980s saw the creation of this beverage in Taiwan, which then expanded to other regions of the globe. The market for bubble tea has been expanding quickly in recent years, and by 2027 it is expected to be worth $4.3 billion. Many different age groups frequent bubble tea cafes, although younger generations are particularly fond of them.
Lastly, which generation enjoys tea the most? The majority of Americans who drink tea are millennials, according to a study by the Tea Association of the USA. According to this study, 35% of millennials consume tea on a daily basis, or 87% of them. This age group is also more inclined to explore with various tea varieties and flavors, including milk tea.
In conclusion, Gen Z and millennials are essentially the target market for milk tea. With a booming market for bubble tea, milk tea is no longer just a passing fad but a beverage that is here to stay. In addition, millennials are the biggest tea drinkers in the country, and it is likely that they will keep trying new tea flavors and varieties.