The global chufa market is all set to show prodigious growth during the forecast period of 2024 to 2030. One of the key reasons for this growth is growing use of chufa in diverse industry verticals. Chufa is rapidly growing grass-like plant that generally requires moist, wet soils and warm climate to grow. Chufa has slightly almond-like flavor and is generally consumed raw as well as cooked. Apart from this, it is widely used in a preparation of a traditional drink named horchata.
An upcoming research report from TMR on the global chufa market aims to provide complete study of key factors such as challenges, drivers, restraints, and opportunities of this market. In addition, this report intends to present reliable data on shares, volume, and revenues of the market for chufa. Inclusive data on key players and their business strategies is adroitly covered in this study. Thus, the report works as a helpful guide of the global chufa market for the forecast period of 2024 to 2030.
The global chufa market is segmented on the basis of various key factors such as application, type, and region. Based o type, the global chufa market is bifurcated into micro, small, and large micro.
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Global Chufa Market: Growth Dynamics
The global chufa market is witnessing remarkable sales avenues. The market is growing on the back of growing use of chufa for medicinal purposes. The tubers of chufa plant contain high amount of carbohydrate, protein, and oleic acid. This aside, around 20–28% of their mass contain non-drying oil. This oil is widely used in industries for diverse purposes such as instrument lubricants and in cosmetics. As a result, the global chufa market is witnessing remarkable demand avenues from all across the world.
Growing awareness about the health benefits of chufa is one of the key reasons driving market growth. For instance, chufa milk is popular in Chinese people as a liver tonic. At the same time, it found to be effective in healing gum and mouth ulcers. In addition to this, chufa is gaining traction in African countries as a cancer-curing product. Owing to all these features, the global chufa market is expected to gain prodigious amount in the form of revenues in years ahead.
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Global Chufa Market: Notable Development and Competitive Analysis
The global chufa market is moderately fragmented in nature. Presence of gamut of players indicates that the competitive landscape of the market for chufa is highly intense. Key vendors from this market are executing diverse strategies such as new product launches to expand their customer base. Apart from this, they are pouring efforts to grow their regional presence. Strategies such as mergers, acquisitions, partnerships, and collaborations are helping companies to achieve this motive.
Global Chufa Market: Regional Assessment
The global chufa market is spread across five key regions, namely, Europe, North America, Central and South America, Asia Pacific, and Middle East and Africa. Of them, Europe is one of the lucrative regions of the market for chufa. Key factor supporting this market growth is easy availability of chufa in this region. Apart from this, growing popularity of horchata in this region is expected to fuel the growth of the chufa market in the upcoming years.
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