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Global Chufa Market to Grow at a CAGR of 6% During 2020-2025, Aided by the Health Benefits of the Product

According to a new report by EMR titled, ‘Global Chufa Market Report and Forecast 2020-2025’, the global market for chufa is expected to grow at a CAGR of 6% in the forecast period of 2020-2025.

The global chufa industry is significantly affected by North America's investment in the enhancement of wildlife habitats. The region shows a promising growth potential for chufa producers. It is predicted that Latin America and the Asia Pacific will have a substantial market share and will be rising at a substantial pace in the coming years. The product is widely known for its extensive nutrient content. NASA evaluated chufa as a potential food to be used in deep space missions. If only one food source was available for a long time, NASA concluded that chufa had a great nutritional value. The product also has excellent drying as well as storage properties and is rot and bacteria resistant. In a NASA bioregenerative life support system review, it was called the number one food product. The market for the product is also being propelled by its expanding distribution channels, especially e-retail channels like Amazon (NASDAQ: AMZN).

The Tiger Nut Company is a leading key player in the industry. The organisation manufactures genuine and special Valencian tiger nuts. The company has strict rules when it comes to the production of the product. In order to be labelled as certified and display the Chufa de Valencia logo, each farmer or grower needs to follow strict rules while harvesting and growing tiger nuts naturally and sustainably. These parameters include the quality, size, drying process, as well as packaging of the product. This sustainable practice has made the company garner more consumers, leading to a robust growth.

Market Analysis by Size, Type, Product, End Use, and Region:

  • Based on size, chufa can be divided into micro and small, among others.
  • The types of the product can be divided into organic and conventional.
  • The product types can be divided into tiger nuts milk, tiger nuts flour, tiger nuts oil, skinned tiger nuts, peeled tiger nuts, and dried tiger nuts, among others.
  • It finds its end-use in alimentary and pharmaceutical, among others.
  • The regional markets for chufa include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Chufa is widely demanded due to the rising awareness about its health benefits among consumers.
  • The product is extremely useful in treating mouth and gum ulcers, which further aiding the market growth, especially in China.
  • Chufa is also extensively used in the pharmaceuticals sector in cancer-treating medicines in regions like Africa.
  • The product also provides a wide range of nutrients, which is supporting the market growth due to the rising population of health-conscious consumers.
  • The rising research and development activities in the industry is expected to propel the market growth further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for chufa for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) markets for the sizes, types, products, end uses, and the major regions of chufa.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter's Five Forces models.

The major players in the global chufa market are The Chufa Co., The Tiger Nut Company, Chufa De Valencia, and KCB International, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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