What is the global market size of Fox Nuts Market?

Global Fox Nuts Market size was valued at USD 38.9 million in 2021 and is poised to grow from USD 42.17 million in 2022 to USD 80.35 million by 2030, growing at a CAGR of 8.4% in the forecast period (2023-2030).

Fox Nuts Market Size, Share, Growth Analysis, By Application(industrial and direct human consumption), By Distribution channel(Online and offline), By Region - Industry Forecast 2024-2031

Q: What is the key driver of Global Fox Nuts Market?

One of the primary factors driving the global fox nut market growth is the growing vegan population. The number of people who choose to live a vegan lifestyle is increasing as people become more aware of the health benefits of a vegan diet. Veganism is gaining traction in North American countries such as the United Kingdom and the United States. Veganism is practised by approximately 3% of the UK population. As a result, the growing global vegan population will aid in the expansion of the global fox nuts market over the forecast period.

Report ID: SQMIG30I2186 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 59 | Figures: 75

Fox Nuts Market News

Ceres Global Ag Corp. declared in February 2024 that it has signed an exclusive contract to develop and implement regenerative agriculture projects in tandem with Grupo Trimex, the biggest flour miller in Mexico.
Bettera Brands, a portfolio business of Highlander Partners, a private investment group, announced in September 2023 that it would be purchasing Nutravail.

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Fox Nuts Market size was valued at USD 42.17 million in 2022 and is poised to grow from USD 45.71 million in 2023 to USD 87.15 million by 2031, at a CAGR of 8.40% during the forecast period (2024-2031).

K.K. Products, Manju Makhana, Sattviko, Maruti Makhana, and Shakti Shudha are important industry participants. To increase their market share, these businesses have been putting their efforts into creating new items. Over the projection period, new business opportunities are expected to arise due to the substantial consumer base for nut meals and goods in developed nations like Germany, Italy, and France. 'Nijjer Agro Foods Ltd.', 'K.K. Products', 'Maruti Makhana Udyog', 'Janta Makhana Bhandar', 'Swami Makhana Products Pvt. Ltd.', 'SHS Foods', 'National Farms & Foods', 'Maakhan Bhog Pvt. Ltd.', 'Green Rootz', 'Shree Govind Traders', 'Welling Agro Foods', 'Shri Ram Trading Company', 'Shruti Trading Company', 'Satyendra Narayan Foods Pvt. Ltd.', 'Ratiram Satyanarayan Mahajan & Sons', 'Rajdhani Makhana Udyog', 'Nijjer Foods Pvt. Ltd.', 'Minaxi Foods', 'Madan Lal Sohan Lal & Co.', 'Gopala Fresh Produce Pvt. Ltd.'

One of the primary factors driving the fox nut market growth is the growing vegan population. The number of people who choose to live a vegan lifestyle is increasing as people become more aware of the health benefits of a vegan diet. Veganism is gaining traction in North American countries such as the United Kingdom and the United States. Veganism is practised by approximately 3% of the UK population. As a result, the growing vegan population will aid in the expansion of the fox nuts market over the forecast period.

Fox nuts have become a popular snack among people due to their high potassium, zinc, protein, magnesium, phosphorus, carbohydrate, and many other minerals and vitamins. People's health consciousness is increasing significantly. Consumer eating habits have also changed dramatically in recent years. As a result, fox nuts have emerged as a prominent solution to cater to such a changing market landscape and growing trend of healthy snacking.

Asia-Pacific dominates the fox nuts market due to rising production and sales, rising proximity to lotus seed cultivation farms in emerging economies, rising consumer inclination to follow a healthy lifestyle, and rising government support and profitability in fox nuts cultivation in this region.The Asia Pacific region consumes the most fox nuts, with India, Japan, China, Thailand, and South Korea producing and selling the most. The close proximity of lotus seed cultivation in these regions has contributed to this region's dominance. The most important markets for fox nuts are China, South Korea, India, and Japan.

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Fox Nuts Market Size, Share, Growth Analysis, By Application(industrial and direct human consumption), By Distribution channel(Online and offline), By Region - Industry Forecast 2024-2031

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