Fox Nuts Market Size, Share & Trends Report

Fox Nuts Market Size, Share & Trends Analysis Report By Application (Direct Human Consumption, Industrial), By Distribution Channel (Online, Offline), By Product, By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: May, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-880-0
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 110

Report Overview

The global fox nuts market size was estimated at USD 25.6 million in 2018. Fox nuts, also known as lotus seeds or gorgon nut in some countries, provide numerous health benefits such as reducing fat content, maintaining blood pressure, low glycemic index, and limiting the occurrences of chronic inflammation. It also removes toxins from the human body and helps in balancing stress levels.

U.S. fox nuts market

Lotus seeds are consumed as an alternative to unhealthy snacks like popcorn or fried chips. The rising popularity of these products among children and adults alike in countries such as India, China, Japan, South Korea, Singapore, and Thailand is expected to remain a growth driving factor. This increase in consumption can be attributed to the changing lifestyle of people, on the heels of rising health awareness. Also, the high protein and low-fat content of fox nuts are expected to promote its usage as a functional ingredient in the food and beverage industry over the coming years.

Until recently, dried fruits such as raisins, prunes, dates, apricots, and figs and nuts such as almonds, cashews, and walnuts were considered to be a healthy snack-time alternative. This is owing to the high nutrition they provide and their benefits as a convenient on-the-go snack. However, studies have continued to show the cons of consuming too many dried fruits as they are extremely high in sugar and calories. Equipped with this awareness, consumers are now switching to better alternatives and this has given the lotus seeds market a lucrative opportunity. Backed by the increasing inclination of consumers to follow a healthy lifestyle, the market is sure to witness steady growth.

Product Insights

Fox nuts, both organic and inorganic, are considered gluten-free with a low glycemic index. Inorganically grown lotus seeds have a lower glycemic index as compared to organically grown variants. The former also has higher yield with better quality than the latter.

Organic as well as inorganic fox nuts are considered as an excellent nut meal ingredient as compared to other dry fruit products, such as walnut, almonds, and cashew on account of the presence of nutritional ingredients like ascorbic acid, proteins, and phenolic compounds. These products are considered as suitable ingredients for the formulation of daily soups and cereals on account of their health benefits. Although the taste is neutral when consumed in its raw form, the addition of spices and condiments makes it an ideal and tasty snack.

Distribution Channel Insights

The offline distribution channel segment was valued at nearly USD 15.0 million in 2018, accounting for a share of almost 60.0% in the global fox nuts market. Lotus seeds are available via offline channels such as retail stores, supermarkets, grocery outlets, and nutritional food outlets. These channels are used as key selling mediums as consumers have the option to physically analyze and verify product specifications before any purchases.

Nevertheless, online channels are expected to expand at a rapid pace, registering a CAGR of 12.3% from 2019 to 2025. Online portals offer several benefits over offline channels, including convenience, discounts and offers, and product variety in one place. Online giants such as Amazon and Flipkart are key e-commerce portals selling fox nuts.

Application Insights

The majority of the consumption of fox nuts is in the food processing industry, restaurants, and fast-food joints. Market players such as Too Yum and Makhanawala’s have introduced packed fox nut snacks, looking to cater to evolving consumer demands and consumption patterns. For instance, in 2018, Too Yum introduced new flavors such as classic homestyle and chatpata masala to attract the younger consumer group.

Companies have been tracking customer behavior and preference to develop and deliver new products in the market. Some of these are flavored and unflavored fox nuts, which can be baked, roasted, fried, or popped. Even though the flavored snacks lose their nutritional value when fried or roasted, demand for the same among the young crowd continues to be positive.

Global fox nuts market

The direct human consumption segment is expected to register a CAGR of 12.1% from 2019 to 2025 owing to increased product consumption in day-to-day life among households. In developing economies such as India, China, Thailand, Japan, and Singapore, lotus seeds are consumed as breakfast, snack, and fasting foods. As these products are high in protein, fiber, potassium, and magnesium, most vegetarians prefer them over cereals and other roasted flakes. Growing preference for convenience food products, on account of the hectic lifestyle of consumers, is expected to be a major demand driving factor for this segment.

Consumers within the age group of 20–27 are increasingly exhibiting a preference for healthier snack options over fried variants and lotus seeds serve as an ideal replacement. Households have also started adding them to daily meals as a supplement product to maintain a balanced diet plan. Furthermore, fox nuts help overcome fertility-related issues among men and women. They provide hydration and nutrition to the reproductive organs and improve the quality of semen. These health benefits are expected to boost product demand among households.

Regional Insights

Asia Pacific generated a revenue of USD 20.5 million in 2018, accounting for 80.0% of the global market. The majority of the production and sales of the product can be attributed to countries such as India, China, Japan, South Korea, and Thailand. A strong customer base, along with proximity to lotus seed cultivation farms in emerging economies, is expected to remain a favorable factor for the regional market.

Europe emerged as the second most prominent regional market in 2018. North America is expected to exhibit a CAGR of 11.5% from 2019 to 2025, making it the fastest-growing regional segment. The untapped potential of Western countries like the U.K. and the U.S. is expected to be a promising investment opportunity for players, giving these regional markets a major boost.

Key Companies & Market Share Insights

Key industry participants include K.K. Products, Manju Makhana, Sattviko, Maruti Makhana, and Shakti Shudha. These companies have been focusing on developing new products to acquire a greater market share. The strong customer base of nut meals and products in developed countries such as Germany, Italy, and France is projected to open new business avenues over the forecast period.

Fox Nuts Market Report Scope

Report Attribute

Details

The market size value in 2020

USD 31.8 million

The revenue forecast in 2025

USD 55.6 million

Growth Rate

CAGR of 11.7% from 2019 to 2025

The base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million/billion and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; U.K.; Germany; China; India; Brazil; South Africa

Key companies profiled

K.K. Products; Manju Makhana; Sattviko; Maruti Makhana; Shakti Shudha

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country; regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global fox nuts market report based on the product, application, distribution channel, and region:

  • Product Outlook (Revenue, USD Thousand, 2015 - 2025)

    • Organic

    • Inorganic

  • Application Outlook (Revenue, USD Thousand, 2015 - 2025)

    • Direct human consumption

    • Industrial

  • Distribution Channel Outlook (Revenue, USD Thousand, 2015 - 2025)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Thousand, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • India

      • China

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

Frequently Asked Questions About This Report

Pricing & Purchase Options

Service Guarantee

  • Quality assurance

    Insured Buying

    This report has a service guarantee. We stand by our report quality.

  • Information security

    Confidentiality

    We are in compliance with GDPR & CCPR norms. All interactions are confidential.

  • grand view research PCI DSS complaint grand view research gdpr verified
  • Custom research service

    Custom research service

    Design an exclusive study to serve your research needs.

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert.

Buy Chapters or Sections

Avail customized purchase options to meet your exact research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities