The Indian bubble tea market is set for a steady rise, with an anticipated CAGR of 8.4 percent from 2024 to 2033. By 2033, the market is projected to reach a valuation of $930.1 million, reflecting its increasing popularity.
One of the primary concerns raised during the event was the impact of deep discounting and private labeling on the restaurant industry. These practices are increasingly shifting consumer behavior from dine-ins to online deliveries.
The global spice market is on a spicy growth trajectory. From 2024 to 2032, it’s projected to expand at a CAGR of 8.11 percent, hitting a valuation of $15.74 billion by 2032.
With projected growth reaching USD 37.93 billion by 2025, the industry is witnessing a profound shift in consumer preferences, driven by a perfect storm of technological innovation, health consciousness, and a renewed appreciation for cultural heritage.
According to the National Restaurant Association of India (NRAI), the market is projected to grow at a CAGR of 8.1 percent from 2024 to 2028, expanding from ₹5.69 trillion to ₹7.76 trillion.
With the Union Budget 2025 around the corner, this pivotal industry is hopeful for policy changes that could propel it toward the ambitious goal of $3 trillion tourism GDP by 2047.