“Global Fox Nuts Market to reach a market value of 77.7 Million by 2031 growing at a CAGR of 8.3%”
The Global Fox Nuts Market size is expected to reach $77.7 million by 2031, rising at a market growth of 8.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,098.85 Tonnes experiencing a growth of 8.5% (2020-2023).
In 2023, the North America region generated 25% revenue share in the fox nuts market. North America has seen a growing trend towards health and wellness, with consumers increasingly seeking nutrient-dense and functional foods. These nuts are recognized for their high protein, fiber, and antioxidant content, which aligns with the region’s focus on healthier dietary choices. This heightened health awareness contributes to the rising demand for these nuts. The plant-based and natural food movement is gaining momentum in North America. Thus, the Supermarkets & Hypermarkets in US market captured the 62.22 Tonnes volume by 2031.
As more individuals adopt plant-based and vegetarian diets, there is a heightened demand for plant-based protein sources that can provide essential nutrients without relying on animal products. These nuts, also known as makhana or lotus seeds, are rich in protein, fiber, and essential minerals, making them an attractive option for those seeking alternative protein sources. In conclusion, the increasing popularity of plant-based and vegetarian diets is driving the market’s growth.
Additionally, As consumers become more health-conscious, there is a growing interest in foods that offer specific health benefits beyond basic nutrition. These nuts, with their rich content of proteins, fiber, and essential minerals like magnesium and potassium, fit well within the functional food sector. They are perceived as a natural, nutrient-dense option contributing to overall well-being, making them a desirable addition to health-focused diets. Therefore, the growing functional food industry and demand for nutraceuticals propel the market’s growth.
The cultivation and processing of these nuts are labour-intensive, requiring significant manual effort. Each stage demands considerable human resources, from planting and harvesting to cleaning and processing. This labour-intensive nature drives up production costs compared to more automated agricultural products. High production costs can impact the market’s profitability and price competitiveness. Thus, high production costs and limited economies of scale impede the market’s growth.
Based on type, the fox nuts market is divided into raw and processed. In 2023, the raw segment attained 18% revenue share in the fox nuts market. Health-conscious consumers are increasingly turning to natural, unprocessed foods. These raw nuts are perceived as healthier due to their minimal processing, which helps retain their natural nutrients and avoids added sugars, salts, or unhealthy fats.
Based on distribution channel, the fox nuts market is classified into supermarkets and hypermarkets, specialty stores, online sales channel, and others. The specialty stores segment attained 27% revenue share in this market in 2023. Specialty stores frequently compile products tailored to meet their customers' specific health requirements or dietary preferences. With their unique nutritional profile and health benefits, these nuts align well with these product offerings. In terms of volume, the distribution channel segment would register 1098.85 Tonnes in 2023.
On the basis of nature, the fox nuts market is segmented into organic and conventional. In 2023, the organic segment attained 35% revenue share in this market. Organic farming practices are often associated with sustainable and environmentally friendly approaches. Consumers are becoming more environmentally conscious and prefer products grown using methods that minimize environmental harm. In terms of volume, the Nature segment would register 1098.85 Tonnes in 2023.
By application, the fox nuts market is divided into human consumption and industrial. The industrial segment procured 28% revenue share in this market in 2023. These nuts are increasingly incorporated into various processed food products, such as snack bars, cereals, and health bars. Their nutritional profile and adaptable characteristics render them an appealing ingredient for food manufacturers seeking to improve the health benefits of their products.
Free Valuable Insights: Global Fox Nuts Market size to reach USD 77.7 Million by 2031
Region-wise, the fox nuts market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region witnessed 40% revenue share in this market in 2023. These nuts, also known as makhana, have deep cultural and historical roots in Asia, particularly India and China. They are traditionally used in various regional cuisines and are valued for their nutritional benefits. This cultural significance drives consistent demand and consumption of these nuts in these countries.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 41.5 Million |
| Market size forecast in 2030 | USD 77.7 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 8.3% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2020 to 2031 |
| Number of Pages | 336 |
| Tables | 828 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Nature, Type, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | Makhana Amrit Mantra Pte. Ltd., Madhubani Makhana Private Limited, Hindustan Foreign Traders Group, Caryopses Pvt. Ltd., Karnavati Spices, Rays Culinary Delights Private Limited (Sattviko FoodYoga), Indian Foxnut, Guiltfree Industries Limited (RP Sanjiv Goenka Group) |
By Nature (Volume, Tonnes, USD Million, 2020-2031)
By Type (Volume, Tonnes, USD Million, 2020-2031)
By Distribution Channel (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Geography (Volume, Tonnes, USD Million, 2020-2031)
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