Fox nut, also known as gorgon nut or lotus seed, exhibits a variety of health benefits, including regulating blood pressure, lowering fat content, minimizing chronic inflammation, and regulating blood pressure. It further aids in the removal of toxins from the body and reduction of stress.
The global market is segmented into type, nature, application, distribution channel, and region. On the basis of type, the market is classified into raw and processed. By nature, it is bifurcated into organic and conventional. Depending on application, it is segregated human consumption and industrial. As per distribution channel, it is categorized into supermarkets & hypermarkets, specialty stores, online sales channel, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Italy, Spain, Russia, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, Thailand, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, United Arab Emirates, and the rest of LAMEA).
The impact of the COVID-19 outbreak was moderate on the growth of the global fox nuts market. Rise in internet penetration and surge in e-commerce sales contributed toward the growth of the market. However, trade restrictions and lockdown resulted into halting of production and manufacturing units. Conversely, the recovery of the fox nuts market is expected in near future.
The fox nuts market growth is expected to be driven by increased popularity of fox nuts among all age groups, hectic & busy lifestyle, and innovative snack product variants. Moreover, health advantages of fox nuts are driving the growth of global market. As per the Indian Journal of Traditional Knowledge, the lotus seeds are highly nutritious and edible after processing. Furthermore, increased awareness among the young generation and fitness admirers has resulted in a significant increase in the consumer base, which is attracting a large number of private companies into the industry, making it highly lucrative.
The global market is segmented into type, nature, application, distribution channel, and region. On the basis of type, the market is classified into raw and processed. By nature, it is bifurcated into organic and conventional. Depending on application, it is segregated human consumption and industrial. As per distribution channel, it is categorized into supermarkets & hypermarkets, specialty stores, online sales channel, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Italy, Spain, Russia, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, Thailand, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, United Arab Emirates, and the rest of LAMEA).
The impact of the COVID-19 outbreak was moderate on the growth of the global fox nuts market. Rise in internet penetration and surge in e-commerce sales contributed toward the growth of the market. However, trade restrictions and lockdown resulted into halting of production and manufacturing units. Conversely, the recovery of the fox nuts market is expected in near future.
The fox nuts market growth is expected to be driven by increased popularity of fox nuts among all age groups, hectic & busy lifestyle, and innovative snack product variants. Moreover, health advantages of fox nuts are driving the growth of global market. As per the Indian Journal of Traditional Knowledge, the lotus seeds are highly nutritious and edible after processing. Furthermore, increased awareness among the young generation and fitness admirers has resulted in a significant increase in the consumer base, which is attracting a large number of private companies into the industry, making it highly lucrative.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fox nuts market analysis from 2021 to 2031 to identify the prevailing fox nuts market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global fox nuts market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Raw
- Processed
By Nature
- Organic
- Conventional
By Application
- Human Consumption
- Industrial
By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Sales Channel
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Italy
- Spain
- Russia
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Thailand
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- United Arab Emirates
- Rest of LAMEA
Key Market Players
- Caryopses Pvt. Ltd.
- Deliciano Global Pvt. Ltd.
- Hindustan Foreign Traders
- Hunan Cereals, Oils and Foodstuffs Import and Export Group Co. Ltd.
- Indulge Foods Private Limited
- Karnavati Spices
- M N Foods
- Madhubani Makhana
- Mahaveer Udhyog
- Makhana Amrit Mantra Pte. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FOX NUTS MARKET, BY TYPE
CHAPTER 5: FOX NUTS MARKET, BY NATURE
CHAPTER 6: FOX NUTS MARKET, BY APPLICATION
CHAPTER 7: FOX NUTS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 8: FOX NUTS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Fox Nuts Market," the fox nuts market size was valued at $38.90 million in 2021, and is estimated to reach $87.10 million by 2031, growing at a CAGR of 8.4% from 2022 to 2031.Fox nuts are available in two types, organic and inorganic, both of which are gluten-free and have a low glycemic index. Inorganic fox nuts contain higher yield over organic fox nuts. They are available in different flavors such as baked, roasted, popped, and fried. However, they lose all the nutritious properties when they are fried or roasted, but most of the people demand for baked fox nuts as they are more healthy snacks in nature.
The hectic lifestyle of customers surge the fox nuts market demand, as fox nuts are consumed in breakfast meal or snack meals. They are used as a supplement for a healthy balanced diet. The utmost reason for increase in demand of fox nuts is that dieticians advise people to consume fox nuts in their evening snacks, which helps them to subside their hunger. However, excess consumption of fox nuts leads to constipation, bloating, allergies, and gastrointestinal issues. Thus, these fox nuts market trends are shaping the market dynamics.
In India, South Korea, Japan, and Russia, fox nuts are farmed. Fox nuts can be blended with vegetables, popped like corn, and consumed as porridge. They have been shown to be high-nutrient food products with medicinal characteristics that are beneficial to one's daily health diet. Vitamins, minerals, and fiber are among the nutrients found in this product. Fox nut is a high-value product that is only commercially grown in Bihar and a few other places of eastern India. In addition, it is grown as a natural crop in the Indian states of Madhya Pradesh, Rajasthan, Jammu & Kashmir, Tripura, and Manipur.
The global fox nuts market is segmented into type, nature, application, distribution channel, and region. On the basis of type, the fox nuts market is classified into raw and processed. Among these, the processed segment occupied the major share of the market in 2021, and is projected to maintain its dominance during the forecast period. The fox nuts market growth of the processed fox nut segment is attributed to nutrients and health benefits provided by roasted fox nuts. However, the raw fox nuts segment is anticipated to grow at highest CAGR in the future.
Depending on nature, the fox nuts market is bifurcated into organic and conventional. Among these, the conventional occupied the major share of the market in 2021, and is projected to maintain its dominance during the forecast period. This is attributed to low cost of conventional fox nuts as compared to organic fox nuts.
By application, the market is segregated into human consumption and industrial. The human consumption segment is anticipated to grow at the highest rate during the forecast period, owing to increase in trend of ready-to-eat food products. Moreover, nutritious and healthy food preference is growing at a rapid pace among households.
As per distribution channel, the market is categorized into supermarkets & hypermarkets, specialty stores, online sales channel, and others. The online sales channel segment is anticipated to grow at highest CAGR during the forecast period, due to rise in internet penetration and usage of smartphones & tablets.
In 2021, Asia-Pacific accounted for 34.8% in the fox nuts market, and is expected to maintain its dominance during the forecast period. However, North America and Europe are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of fox nuts in these regions.
Owing to COVID-19, increase has been witnessed in the demand for healthy food products such as fox nuts. The sales of healthy snacks have increased, as they are consumed by health-conscious people to maintain a healthy body and appetite. Fox nuts are mostly produced in Asia-Pacific and supplied the product to other countries. The supply has been hampered due to trade barriers and travel restrictions.
The major players analyzed for global fox nuts industry are Caryopses Pvt. Ltd., Deliciano Global Pvt. Ltd., Hindustan Foreign Traders, Hunan Cereals, Oils and Foodstuffs Import and Export Group Co. Ltd., Indulge Foods Private Limited, Karnavati Spices, M N Foods, Madhubani Makhana, Mahaveer Udhyog, and Makhana Amrit Mantra Pte. Ltd. These major market players have adopted various strategies such as product launch and acquisition to expand their market reach.
Key Findings of the Study
- By type, processed was the major segment of the fox nuts market in 2021, and is anticipated to grow at a significant CAGR of 8.2% during the forecast period.
- On the basis of nature, the conventional segment dominated in 2021, and is anticipated to grow at a significant CAGR of 8.0% during the forecast period.
- Depending on application, the human consumption segment is expected to grow at a CAGR of 8.0%, in terms of value, during the forecast period.
- As per distribution channel, the online sales channel is anticipated to grow at a CAGR of 8.8% during the forecast period.
- Region wise, Asia-Pacific was the dominant region in 2021, occupying 34.8% fox nuts market share.
Companies Mentioned
- Caryopses Pvt. Ltd.
- Deliciano Global Pvt. Ltd.
- Hindustan Foreign Traders
- Hunan Cereals, Oils and Foodstuffs Import and Export Group Co. Ltd.
- Indulge Foods Private Limited
- Karnavati Spices
- M N Foods
- Madhubani Makhana
- Mahaveer Udhyog
- Makhana Amrit Mantra Pte. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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