The Taiwan External Trade Development Council (TAITRA) expects the bubble tea business will generate revenue worth more than US$1 billion (Bt30.4 billion), or approximately NT$30 billion in 2019.

Taiwan’s bubble milk tea is increasingly becoming popular across the world, especially in countries such as Japan.

TAITRA secretary-general Ye Ming-shui said Japan has imported tapioca balls from Taiwan worth $26.79 million, up tenfold compared to the same period last year. Japan is currently Taiwan’s largest market for tapioca balls, followed by the United States.

Meanwhile, TAITRA project director Wu Chun-ze said the tapioca balls’ market value ratio should increase 7-10 times this year.

“These exports, which are currently worth $100 million, have the possibility to increase to $1 billion in the future,” the director said.