In recent years bubble tea has become a craze among Singaporean consumers, leading to many new firms entering this market either as new Singaporean start-ups or as established firms from aboard. There are now over 50 competitors in Singapore each of which sell their own variations of bubble tea with different flavours, colours, ingredients and packaging. Using the theory and models of market structure, examine this industry. Should government be worried about any aspect of how an industry with this market structure will perform?