Sales of tiger nuts in the United Kingdom are expected to grow at a CAGR of 9.0%, making it a lucrative market for companies. Traditionally, boiled tiger nuts are used as fishing bait, particularly for carp, and with the rise in fishing activities, demand for chufa is likely to increase. Despite some risks associated with their use as bait, fishermen are expected to continue this practice over the next decade, with the industry projected to reach a value of USD 23.4 million by 2034.
The tiger nut market is projected to reach a value of USD 275.3 million in 2024, with expectations to more than double to USD 580 million by 2034. This indicates a forecasted CAGR of 7.7% over the next decade.
A key pillar of the tiger nut market is its health benefits, including aiding digestion and regulating blood sugar levels, along with perceived advantages like boosting immunity and enhancing sexual drive. This appeal resonates with health-conscious youth, driving increased adoption of tiger nuts. Beyond the food and beverage sector, the nut is gaining traction in cosmetics for its skin-enhancing properties, while dietary supplements are also increasingly incorporating i
Key Takeaways from the Tiger Nut Market:
- The tiger nut market value is expected to total USD 275.3 million in 2024.
- Based on type, powder segment accounted for a value share of 57% in 2023.
- By application, food and oil industry accounted for 45% of the market share in 2023.
- South Korea is expected to record a CAGR of 10.0% from 2024 to 2034.
- Japan and the United Kingdom are poised to register CAGRs of 9.4% and 9.0% respectively.
Competitive Landscape
Stakeholders in the tiger nut sector are pursuing acquisition strategies to streamline the raw material procurement process. Meanwhile, smaller enterprises are forming partnerships to enhance demand. Many companies are adopting eco-friendly packaging to attract environmentally conscious consumers. Additionally, the use of social media and innovative branding strategies is increasing as businesses aim to expand their customer base and boost sales.
Key Industrial Developments
- In May 2023, WNWN Food Labs launched a vegan milk chocolate that makes use of tiger nuts.
- In February 2023, United States-based Sweet Aya Bites unveiled tiger nut products in three flavors: sea salt, smokey BBQ, and dark chocolate. With the new products, the company is aiming to strengthen its presence in the region and boost revenue.
Key Companies in the Tiger Nut Market
- Tiger Nuts USA
- Tigernuts Traders, S.L.
- Ecoideas
- Henry Lamotte Services GmbH
- KCB International
- Others
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Key Segments of Market Report
By Type:
Based on the type, the tiger nut market is divided into powder, granules, and others.
By Distribution Channel:
Based on the distribution channel, the sector is segmented into business to business and business to consumer. In addition, the business to consumer segment has been subdivided into hypermarkets/supermarkets, convenience stores, online retail, and others.
By Application:
Based on the application, the tiger nut sector is categorized into food and oil industry, cosmetic industry, pharmaceutical industry, and others.
By Region:
The sector has been analyzed with the following regions covered: North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
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