A recent study published by Transparency Market Research on the tiger nuts market includes Global, Unites States, Europe, UAE, and Rest of World industry analysis and opportunity assessment for 2020-2030. Revenue generated from the tiger nuts market was valued at ~US$ 153 Mn in 2020, which is estimated to rise at a CAGR of 7.6%, to reach ~US$ 319 Mn by 2030.
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Growing Consumer Preference for Vegan Food to Boost Demand for Tiger Nuts
The market for vegan products around the world is being driven by changing consumer preferences and growing awareness about the various disadvantages of meat-based diet. Manufacturers of food and beverage products introducing plant-based options to the mainstream is among the key reasons for the growth of vegan food products. Veganism is also influenced by the growing concern for animal welfare, and respect for animals and the environment. Tiger nuts are derived from plants, and do not involve meat-based ingredients throughout the production and harvesting process. Thus, tiger nuts are seen as a vegan product with added nutritional benefits. Tiger nuts help in the prevention of obesity, decreasing cholesterol levels.
- The Tiger Nuts Company Ltd. based in Spain offers tiger nuts in original, powder, flakes, and milk form that can be consumed by vegan consumers
Tiger Nuts Offered as Healthy Snack Option for Consumers
Tiger nuts are offered by many manufacturers as a healthy snack option that can be included in the regular diet. The growing snack industry is expected to influence the demand for tiger nut products, owing to their high nutritional value. The availability of tiger nuts in small attractive packaging also entices consumers to try such products. Consumers nowadays have less time, with a fast-paced lifestyle, and are choosing products that give more health benefits and do not require much preparation and cooking. Tiger nuts serve as an optimum alternative for such consumers and do not require any cooking, and can also be consumed straight out of the packet. Tiger nuts being positioned as a healthy snack by the manufacturers is expected to drive the tiger nuts market.
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Increased Application in Confectioneries
Tiger nuts are generally used as a snack and bakery ingredient, and find application in making confectionery products and can be used by hotels, restaurants, cafes, and any other foodservice industry players, owing to their natural sweet taste. The sweetness of tiger nuts eliminates the need for adding extra sugar in confectionery products. Tiger nuts can be used to make candy, chocolate, and gum that offers additional health benefits. With tiger nuts being used in innovative recipes for making sweet and savory products, the scope of application of tiger nuts is increasing. The increased use of tiger nut products in the foodservice industry to make confectionery food products is also expected to help boost the global tiger nut market.
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