Milk Tea Market is projected to grow at a CAGR of 7.2% within the forecast period of 2023-2030: Cognitive Market Research

Market Overview:
Milk tea is a beverage that combines tea with milk and sweeteners. It is a popular drink that originated in Taiwan and has gained popularity worldwide. Milk tea is typically made using black tea as a base, although other types of tea such as green tea or oolong tea can be used as well. The tea is brewed and then mixed with milk and sweeteners to create a creamy and flavorful beverage.
The choice of milk in milk tea can vary. Traditionally, evaporated milk or condensed milk was used, but nowadays, fresh milk, whole milk, soy milk, almond milk, or non-dairy creamers are commonly used as alternatives. The type of milk used can impact the taste and texture of the milk tea.
Sweeteners are added to milk tea to enhance its flavor. Sugar is the most common sweetener, but other options like syrup, honey, or flavored powders such as matcha or taro powder can be used. The amount of sweetener added can be adjusted according to personal taste preferences.

Summary:
The Global Milk Tea market was valued at USD 2.36 Billion in 2022, registering a CAGR of 7.2% for the forecast period 2023-2030.

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Market Dynamics:
• Rising incidences of work stress-related problems and obesity are anticipated to boost market demand
In recent year work stress and CVDs are on the rise due to the intensification of work, a sedentary lifestyle, economic uncertainty, and others. The expectations and rivalry in the workplace have risen as a result of globalization and technological development. Increased employment demands, longer workweeks, and increased production expectations have been observed across several industries. High levels of work-related stress can be attributed to the pressure to meet deadlines, fulfill goals, and manage excessive workloads.
Furthermore, due to desk work, extended sitting, and increasing screen time, modern lives have grown more sedentary. An increased risk of acquiring obesity is linked to inadequate physical activity and bad lifestyle choices, such as improper food, insufficient exercise, and insufficient sleep. For instance, according to World Health Organization, more than 1 billion people worldwide are obese - 650 million adults, 340 million adolescents, and 39 million children. Further, according to WHO estimates that by 2025, approximately 167 million people adults and children will become less healthy because they are overweight or obese.
It has been demonstrated that drinking milk tea has a stress-relieving effect. A cup of milk tea can effectively lower stress levels and uplift mood as stress and anxiety have become ingrained in human life. This might be attributed to L-theanine, a compound found in both milk tea that promotes serenity and improved focus by increasing alpha brain wave activity, which takes place during activities like daydreaming, meditation, and mindfulness practice.

• The surging purchasing power of consumers in low-income countries is expected to boost market demand (Access Detailed Analysis in the Full Report Version)

Market Segmentation:
Herb Type:
• Cardamom
• Ginger
• Mint
• Basil
• Thyme
• Lavender
• Others
Based on the herb type, the cardamom segment is dominating the milk tea market. This is attributed to Cardamom is a well-known spice and is the essential ingredient in tea. Cardamom tea is an herbal tea made by infusing seeds or cardamom pods in hot water. Its health benefits include combating bad breath and soothing irritable bowel syndrome. Additionally, drinking cardamom tea may help maintain a healthy weight and improve weight loss results. This is help to improve health and it has antibacterial properties. Cardamom has neutralized bacteria that cause bad breath and prevents the buildup of plaque and the development of caries. Furthermore, cardamom tea also contains dietary fiber and vitamins and minerals that can boost the immune system. It boasts anti-inflammatory properties that may help lower blood pressure and decrease inflammation that can cause a sore throat. These all factors affect the growth of this segment in the milk tea market.

End User:
• Households
• On-trade outlets

Type:
• Bubble Tea
• Hong Kong Milk Tea
• Tea Latte
• Thai Iced Tea
• Masala Chai
• British Milk Tea

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Competitive Analysis for Milk Tea Market:
• Ten Ren's Tea Time
• Lollicup USA Inc
• Huey-Yuhe Enterprise
• Gong Cha
• Tan Do Refreshing Water Co. Ltd
• Yen Chuan International Co. Ltd
• Sunnysyrup Food Co Ltd
• LELECHA
• CoCo Fresh Tea & Juice
• Happy Lemon

Regional Analysis:
Based on region, Asia-pacific is dominating the milk tea market in terms of revenue market share throughout the forecast period. This is due to increasing tea production in Asian countries such as India, Vietnam, China, Indonesia, and others. Increasing disposable income, increasing awareness about healthy eating habits, and increasing consumer preference for natural foods in this region. Milk tea offers a unique and refreshing alternative to traditional tea. Furthermore, rising health complications like obesity and diabetes amongst the enlarging old-age population. This is anticipated to drive the growth of the milk tea market in this region.

Company Profile
• Lollicup USA Inc
Lollicup is a USA-based food and beverage company that was established in 2000. The Lollicup serves drinks and food products. The drink segment includes products such as milked tea, flavored tea, slush, smoothie, and coffee. The company offers different varieties of foods such as beef noodle soup, popcorn chicken rice bowl, crispy fish rice bowl, crispy tofu rice bowl, flavored French fries, French fries, peppers with cream cheese, monster fries, spring rolls, and dumplings, Taiwanese sausages, etc. In milk tea, Lollicup offers different flavors such as Thai tea signature, white peach green milk tea, taro milk tea, horchata milk tea, roasted brown sugar boba tea, Thai tea, almond milk tea, honeydew milk tea, jasmine green milk tea, lavender milk tea, matcha milk tea, and rose milk tea.

To know more about the Milk Tea Market click here: https://www.cognitivemarketresearch.com/milk-tea-market-report

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