Home grown bubble tea brand, Tealive has broken into the North American market with its first outlet opening in downtown Ottawa, Canada.
Tealive owner, Loob Holding Sdn Bhd founder and CEO Bryan Loo said Tealive has been focused on expanding in South East Asia and was not particularly targeting North America until it was approached by an established business group involved in running pastry and bakery businesses.
“We’re convinced that our chosen local partner in Canada will be a good fit as they have over 20 years of experience in the food and beverage segment.”
Loo said the partner was committed to open 50 outlets in the next five years across Canada. “This entry into Canada and planned expansion across the country will give us an opportunity to learn more about the North American market up close. So, we may tap into the lucrative US market next,” he said.
The grand opening saw the store at Somerset Street downtown being swamped by eager boba lovers. Gracing the occasion were local influencers like Eric Chan of Ottawa Nibbles, Melissa of Mels Hangry Table, Allie of YumYumYow, Marilou of 20ys and Anglea of Anglea Bites.
Loo is bullish on the potential of the global bubble tea market and wants to position Loob to be prepared to ride the next wave.
“According to leading market research firm Facts and Factors, the Global Bubble Tea Market size was valued at around US$2.1 billion in 2020 and is estimated to grow to about US$4.5 billion by 2026, at a compounded annual growth rate of 8.1% between 2021 and 2026,” he said.
