The tiger nuts milk market revenue was valued at US$ 455.3 Mn in 2020, which is estimated to rise at a CAGR of 8.1%, to reach US$ 993.3 Mn by 2030

WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- The Tiger Nuts Milk market has experienced steady growth in recent years, driven by increasing consumer demand for plant-based milk alternatives. Tiger nuts, also known as Earth almonds or Chufa, are tubers derived from a plant native to the Mediterranean region. With their rich nutritional profile and natural sweetness, tiger nuts have become a popular ingredient in dairy-free beverages. Tiger Nuts Milk, which is lactose-free, gluten-free, and packed with vitamins, minerals, and prebiotics, is an appealing choice for individuals with dietary restrictions or those pursuing a healthier lifestyle.

The rising trend toward plant-based diets, coupled with growing awareness about the health benefits of tiger nuts, has resulted in an expanding market for Tiger Nuts Milk. From smoothies to desserts, this dairy alternative has found its place in various food applications. The market is expected to witness continued growth from 2020 to 2030, driven by favorable consumer preferences, changing dietary habits, and the increasing availability of tiger nuts as an ingredient.

Market Size and Growth

The Tiger Nuts Milk market was valued at US$ 455.3 Mn in 2020 and is projected to reach US$ 993.3 Mn by 2030, growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period. The market’s growth is largely attributed to the rising popularity of dairy-free milk substitutes, increasing health-consciousness, and the expanding vegan population globally.

The shift toward plant-based milk is propelled by health benefits such as improved digestion, weight management, and heart health, which have become key drivers for the growth of Tiger Nuts Milk in several regions. Additionally, the increasing availability of tiger nuts in various forms—such as powdered, whole, or as milk—has made the product more accessible to consumers worldwide.

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Market Segmentation

By Service Type
The Tiger Nuts Milk market can be segmented based on service type into:
• Online Retail: The growing trend of e-commerce and online grocery shopping has increased the availability of Tiger Nuts Milk, providing consumers with convenient access to the product.
• Supermarkets & Hypermarkets: Traditional retail outlets remain a significant channel for Tiger Nuts Milk, with many major grocery chains expanding their plant-based product sections.
• Specialty Stores: Organic and health food stores are increasingly stocking Tiger Nuts Milk due to its health benefits and rising popularity in vegan and lactose-intolerant communities.

By Sourcing Type
The market can also be categorized based on sourcing type into:
• Organic: Organic Tiger Nuts Milk, sourced from organically grown tiger nuts, is gaining traction among health-conscious consumers.
• Conventional: Conventional tiger nuts, which are grown using standard farming methods, also make up a significant portion of the market.

By Application
Tiger Nuts Milk finds various applications, including:
• Beverages: The most prominent application of Tiger Nuts Milk is in beverages, such as smoothies, milkshakes, and coffee.
• Desserts: It is widely used in dairy-free desserts, including ice cream and puddings.
• Baking: Tiger Nuts Milk is also used in gluten-free and plant-based baking recipes, particularly in cakes and muffins.

By Industry Vertical
The Tiger Nuts Milk market can be segmented by industry vertical into:
• Food and Beverages: This is the largest segment, with growing demand for plant-based milk substitutes in this industry.
• Healthcare and Wellness: Increasing interest in functional foods and beverages that promote gut health and immunity has led to higher demand for Tiger Nuts Milk.
• Cosmetics and Personal Care: Tiger Nuts Milk is increasingly used in skincare and cosmetic products due to its moisturizing and nourishing properties.

By Region
The regional segmentation of the Tiger Nuts Milk market includes:
• North America: The U.S. and Canada are major markets for plant-based products, with rising demand for dairy-free alternatives, including Tiger Nuts Milk.
• Europe: Europe has seen a rise in veganism and lactose intolerance, contributing to the increasing adoption of Tiger Nuts Milk in countries such as the UK, Germany, and France.
• Asia-Pacific: The Asia-Pacific region is witnessing a surge in the adoption of plant-based products, including Tiger Nuts Milk, due to changing dietary habits and growing health awareness.
• Latin America: Brazil and Argentina are seeing an increasing trend in the consumption of plant-based products, including tiger nuts, driven by health-conscious consumers.
• Middle East and Africa: Demand for plant-based products is growing in countries like the UAE and South Africa, where consumers are exploring dairy-free options.

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Regional Analysis

North America is expected to dominate the Tiger Nuts Milk market, accounting for the largest market share due to the growing preference for vegan and lactose-free products. The U.S. is the largest consumer of plant-based milk, driven by increasing veganism and health-consciousness among consumers.

Europe follows closely behind, where countries such as the UK, Germany, and France are major contributors to market growth. The rise in plant-based eating habits and the demand for lactose-free beverages is propelling the market forward in these regions.

Asia-Pacific is expected to show the fastest growth rate during the forecast period due to a shift in dietary preferences, the rise of veganism, and the increasing number of lactose-intolerant individuals. Countries like China, India, and Japan are likely to witness increased demand for Tiger Nuts Milk as plant-based products gain popularity.

Market Drivers and Challenges

Drivers
• Health Consciousness: Rising awareness of the health benefits of plant-based diets and dairy-free alternatives is a major factor driving the market.
• Lactose Intolerance and Veganism: The growing prevalence of lactose intolerance and the rise of vegan diets globally are key contributors to the demand for Tiger Nuts Milk.
• Environmental Concerns: Plant-based milk alternatives are more sustainable compared to dairy milk, making them appealing to eco-conscious consumers.

Challenges
• High Production Costs: The relatively high cost of producing Tiger Nuts Milk compared to other plant-based milks such as almond and soy milk can pose a challenge to the market.
• Limited Consumer Awareness: While Tiger Nuts Milk is gaining popularity, it remains less known compared to other plant-based milk alternatives, which may limit its potential market size.

Market Trends
• Product Innovation: Manufacturers are exploring new flavors and variations of Tiger Nuts Milk, such as chocolate or vanilla-flavored versions, to appeal to a wider audience.
• Sustainability Initiatives: Companies are focusing on eco-friendly packaging and sourcing practices to cater to environmentally conscious consumers.
• Nutritional Fortification: Fortification with additional nutrients such as vitamins and minerals is becoming a common trend in Tiger Nuts Milk to enhance its health benefits.

Competitive Landscape

Key players in the Tiger Nuts Milk market include:
• ChufaMilk: Known for offering a variety of Tiger Nuts Milk products, including both sweetened and unsweetened versions.
• The Tiger Nut Company: Offers premium, organic Tiger Nuts Milk and other related products.
• Mylk Labs: Specializes in dairy-free and plant-based milk alternatives, including Tiger Nuts Milk.
These players are focusing on product innovation, strategic partnerships, and marketing campaigns to strengthen their position in the market. The competitive landscape is dynamic, with both established brands and new entrants working to meet the growing demand for plant-based milk alternatives.

Future Outlook
The Tiger Nuts Milk market is expected to continue its robust growth from 2020 to 2030. Factors such as rising health awareness, increasing vegan and lactose-free populations, and expanding product availability are likely to drive this growth. As consumer preferences shift towards sustainable, plant-based options, Tiger Nuts Milk is poised to become a significant player in the dairy-free beverage market.

Key Market Study Points
• Health benefits of Tiger Nuts Milk, such as improved digestion and heart health, are driving its popularity.
• Regional demand is expected to be highest in North America and Europe, with rapid growth in the Asia-Pacific region.
• Challenges such as high production costs and limited awareness may impact the market's growth trajectory.

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