The global fox nuts market size is expected to reach USD 55.6 million by 2025, according to a new report by Grand View Research, Inc., exhibiting an 11.7% CAGR during the forecast period. Rising awareness regarding a healthy lifestyle among middle-income age groups in developing economies such as China and India is projected to spur product demand. Fox nuts are gluten free and have high fiber content and excellent antioxidant features. There has been growing popularity of these products as snacks on account of the various health benefits they provide, including maintaining blood pressure, high source of protein, and improving fertility. This is projected to remain a prominent trend in the near future as well.
Asia Pacific is expected to exhibit the highest CAGR of 12.0% from 2019 to 2025; it is also the largest regional market. Rising concern regarding health issues such as high blood pressure, diabetes, and obesity has prompted consumers to opt for healthier snacks and this will continue to be a key growth driver over the forecast period.
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Inorganic products generated a revenue of USD 10.2 million in 2018. This segment is expected to witness significant gains on account of low content of saturated fats and high composition level of protein as compared to organic product variants.
The industry is highly competitive in nature with the presence of leading players such as K.K. Products, Manju Makhana, Maruti Makhana, Sattvika, and Shakti Shudha. Various manufacturers are concentrating on new product launches and capacity expansion in order to gain a competitive edge over the rest.
Fox Nuts Market Report Highlights
• In terms of revenue, the inorganic product variants are projected to exhibit a CAGR of 12.0% from 2019 to 2025. Considering that inorganically produced fox nuts have greater yield, they are increasingly popular and this is expected to remain a favorable growth factor for the segment
• The organic product variant dominated the global market with an overall revenue share of over 60.0% in 2018. This is attributed to the predominant consumption of these products in countries such as India and China
• The offline distribution channel dominated the overall market with a share of close to 60.0% in 2018. Fox nuts are majorly purchased through retail stores, grocery outlets, and supermarkets
• Asia Pacific was the largest market in 2018, accounting for over 80.0% of the global revenue. Rising disposable income, improving purchasing power of consumers, and growing focus on healthy foods is expected to promote the sales of nut meal products.
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Fox Nuts Market Segmentation
Grand View Research has segmented the global fox nuts market on the basis of product, application, distribution channel, and region:
Fox Nuts Product Outlook (Revenue, USD Thousand, 2015 - 2025)
• Organic
• Inorganic
Fox Nuts Application Outlook (Revenue, USD Thousand, 2015 - 2025)
• Direct Human Consumption
• Industrial
Fox Nuts Distribution Channel Outlook (Revenue, USD Thousand, 2015 - 2025)
• Online
• Offline
Fox Nuts Regional Outlook (Revenue, USD Thousand, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o India
o China
• Central & South America
o Brazil
• Middle East & Africa
o South Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.