Kung Fu Tea partners with Cronus Global to tap into $2.7bn global bubble tea market

In a strategic move poised to revolutionize the booming bubble tea industry, Cronus Global, a leading international brand licensing agency, has teamed up with bubble tea heavyweight, Kung Fu Tea. This collaboration aims to harness the staggering potential of the $2.7 billion global bubble milk tea sector. By incorporating Kung Fu Tea’s iconic flavors such as Kung Fu Tea Milk Tea, Cocoa Cream Wow, and Taro Slush into diverse food & beverage offerings, the partnership envisions creating a ripple effect in the market. Additionally, they plan to roll out lifestyle merchandise tailored to Kung Fu Tea’s vast and passionate following, further expanding the brand’s reach.

With an impressive presence in 38 states via 370 locations, Kung Fu Tea’s prowess isn’t just limited to its physical outlets. Digital accolades include achieving “Fastest Growing Franchises” by Entrepreneur Magazine, ranking among Yelp’s top 3 beloved brands in 2023, and amassing a massive social media following: 400K on Instagram and 285K on TikTok. Their digital influence is evident with 4.7M monthly impressions spanning both platforms and a whopping 2M downloads of their proprietary app. Matthew Poveromo, Kung Fu Tea’s Marketing Manager, highlighted the consistent demand for brand-specific lifestyle goods and expressed excitement over venturing into innovative food and beverage concoctions, like matcha green tea ice cream or brown sugar waffles.

Kung Fu Tea partners with Cronus Global to tap into the global bubble tea market. Photo courtesy of PRNewswire/Cronus Global.

Industry analysts predict a surge in the bubble tea industry, with Future Market Insights forecasting a jaw-dropping $6.17 billion valuation by 2033. Factors like Gen Z and Millennial consumption patterns, overwhelming support on platforms like TikTok, and celebrity endorsements are driving this uptrend. Bloomberg emphasized the increasing American love for bubble tea, revealing that the tapioca balls, colloquially termed “Boba,” are now the US’s top food import from Taiwan.

Kristin Calzada, Cronus Global’s President, commended Kung Fu Tea’s supremacy in the U.S. bubble tea domain and expressed confidence in diversifying Kung Fu Tea’s brand across the food, beverage, and lifestyle sectors. She hinted at innovative offerings like bubble tea-inspired candles and other scent-based products, tapping into the unique aromas of Kung Fu Tea’s beloved beverages.