The global fox nuts market is expected to spur significantly from $130 million in 2021 to $202 million in 2028. The market is likely to rise with a healthy annual compound rate of 7.3% during the forecast period. The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. It offers insights into the market size and current trends to shape the future of the market.
Fox Nuts Market: Overview
Fox nuts are widely referred to as makhanas or Lotus seeds. It is extracted from a plant grown in eastern Asia named Euryale Fox. Fox nuts are healthy snacks that help people to manage their weight and offer numerous health benefits like good content of iron & calcium, lower risk of kidney issues, and controlled blood pressure. However, it is highly beneficial for pregnant women. Fox nuts hold anti-inflammatory and antioxidant properties that help to eliminate toxins from the body and regulate the stress level efficiently. People widely prefer to have fox nuts to keep the stomach full for a longer period of time as it contains protein and also aid in avoiding unhealthy cravings. It is rich in a good amount of saturated fat that helps in keeping the body super healthy.
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The Covid-19 pandemic has significantly spurred the demand for healthy consumable items like foxnuts. The sales of healthy snacks have increased indefinitely in the pandemic period as people became more health-conscious than before and are now more inclined towards a healthy diet and appetite. Fox nut is widely produced in the Asia Pacific region and supplied throughout the different regions in the world. However, the outbreak of the coronavirus pandemic has significantly hampered the transportation and supply of fox nuts due to the announcement of worldwide lockdowns and trade barriers.
Fox Nuts Market: Growth Drivers
The growing trend of healthy snacking is likely to spur the growth of the global market.
Fox nuts have emerged as a popular snack among people due to the fact that they are a good source of potassium, zinc, protein, magnesium, phosphorus, carbohydrate, and many other minerals and vitamins. There is a significant surge in the health consciousness among people. The eating habits of consumers have also transformed drastically in recent years. Therefore, to cater to such a transforming market landscape and growing trend of healthy snacking, fox nuts have emerged as a prominent solution. Fox nuts are also a good source of fiber, whole grains, and proteins, thereby expanding the customer base of the consumer segment looking for a nutritional snack. It is seen that snacks that are in particular marketed for health benefits are likely to have a high growth rate in the global landscape. Nowadays, people are looking for fresh, natural, and healthy snacks in the market.
Fox Nuts Market: Restraints
Excess consumption of fox nuts leads to health problems which is a major restraint in the global market.
Excess of everything is bad, and the same is the case with foxnuts. The massive scale consumption of foxnuts leads to gastrointestinal issues, allergies, bloating, and constipation. However, it negatively impacts the growth trajectory of the global market.
Fox Nuts Market: Opportunities
Demand for popped and roasted foxnuts is likely to open new growth avenues in the global market.
Growing per capita income of people along with rapid urbanization is likely to increase the expenditure on nutritious and healthy food products. Therefore, there is a significant spike in demand for popped and roasted flavored fox nuts among consumers in the market. However, this exponentially growing inclination of consumers towards flavored roasted nuts is likely to create noteworthy opportunities in the global market and lure health-conscious regulars. Manufacturers are increasingly innovating the food products in the variety of flavors in roasted foxnuts to expand the marketplace and generate huge revenue in the global fox nuts market.
Fox Nuts Market: Challenges
Export of foxnuts is a major challenge in the global market.
Fox nuts are extracted from the flowering plant of lotus, which is native to the Asian region. Therefore, the export of fox nuts from their native country to a different part of the world is a huge challenge due to the high prices involved in transportation and export activities.
Fox Nuts Market: Segmentation
The global fox nuts market can be segmented into product, application, distribution channel, and region.
By product, the market can be segmented into inorganic and organic.
By application, the market can be segmented into industrial and direct human consumption.
By distribution channel, the market can be segmented into nutritional food outlets, grocery & retail stores, hypermarkets, and online channels.
Fox Nuts Market: Regional Landscape
Asia Pacific accounts for the largest share in the global fox nuts market as the major production clusters for fox nuts are located in Japan and India. India is likely to hold a strong foothold in the market due to the presence of production clusters in the Bihar and Uttar Pradesh regions. However, the incentives offered by the government to foxnut farmers are further likely to assist in complementing the growth of the regional market significantly during the forecast period.
However, North America is likely to grow exponentially in the global fox nuts market during the forecast period due to the surging demand for fox nuts in the region.
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Fox Nuts Market: Competitive Landscape
.Some of the significant players in the global fox nuts market include:
- Shakti Sudha
- Manju Makhana
- Sattviko, K.K. Products
- Maruti Makhana
The global fox nuts market is segmented as follows:
- Direct Human Consumption
By Distribution Channel
- Grocery and retail store
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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