Vietnam third largest market for bubble tea in Southeast Asia
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Turnover of the Vietnamese bubble tea market hit $362 million in 2021, ranking third among six major Southeast Asian markets, according to a recent study.
The region’s largest market was Indonesia with an estimated $1.6 billion annual turnover. Thailand came in second with $749 million, according to a study by Singapore-headquartered venture outfit Momentum Works and digital payments solution firm Qlub.
Turnover in the Southeast Asian market last year accumulated to $3.66 billion, it added.
As of April 2022, Vietnam had 439 bubble tea shops, with over half located in Ho Chi Minh City, a survey by German data portal Statista and Vietnamese market researcher Q&Me showed.
Bobapop, a local brand, was the leader in terms of locations with 89 stores.
It was followed by three foreign players, Tiger Sugar (48 stores), The Alley (47) and Gong Cha (42).
Questions & Answers
Q.Which country is the largest bubble tea market in Southeast Asia?
Which country is the largest bubble tea market in Southeast Asia?
Indonesia holds the top position as the largest bubble tea market in Southeast Asia, generating an estimated annual turnover of $1.6 billion. Thailand is the second largest, with Vietnam ranking third in the region.
Q.How many bubble tea shops were there in Vietnam as of April 2022?
How many bubble tea shops were there in Vietnam as of April 2022?
As of April 2022, there were 439 bubble tea shops operating in Vietnam. Over half of these establishments were located in Ho Chi Minh City, indicating a high concentration in the urban centre.
Q.Which bubble tea brand has the most stores in Vietnam?
Which bubble tea brand has the most stores in Vietnam?
Bobapop, a local brand, leads the Vietnamese market in terms of store count with 89 locations. It is followed by three international brands: Tiger Sugar with 48 stores, The Alley with 47, and Gong Cha with 42.