Expanding at a CAGR of 8.4%, the global fox nuts market is predicted to increase from a valuation of US$ 120 million in 2023 to US$ 270 million by the end of 2033. Household & residential buyers tend to consume fox nuts the most due to the rising popularity of ready-to-eat food products.
Fox nuts are derived from the Eastern Asian plant known as Euryale Fox. This is a nutritious snack that aids in weight loss and offers several other advantages as well, including maintaining blood pressure, lowering the risk of kidney problems, being high in calcium and iron, and being beneficial for women during pregnancy.
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Fox Nuts Market – Key Findings
• Flavored roasted fox nuts remain highly favored amongst consumers.
• Household & residential buyers will remain prominent consumers of fox nuts through the forecast period.
• Europe and North America will drive the consumption of fox nuts in view of rising imports.
• Asia Pacific continues to lead the fox nuts market on account of native lotus cultivation from which the product is derived.
Fox Nuts Market – Key Driving Factors
• Ecommerce and internet proliferation is inflating the sales of fox nuts over the forecast period.
• Availability of manufacturing details and specifications is complementing the growth of fox nuts market.
• Superior product transparency is a major driver of growth in the global fox nuts market.
• Several discount offers along with competitive pricing is favoring the growth of fox nuts market.
• Various health benefits such as low glycemic index and maintaining blood pressure is contributing substantially to market growth.
Competitive landscape:
Leading companies are offering fox nuts in a variety of flavors due to their enticing nutritional characteristics. Key vendors are using a variety of techniques, including new developments, strategic alliances, quality control, safety regulations, partnerships, and product standards to enhance their market presence. A robust consumer base for nut meals and products in developed countries is creating opportunities for producers of fox nuts.
For instance,
• In 2021, Kinnect received a digital media contract from Too Yumm!, the most popular snacking brand in India from Guiltfree Industries, the FMCG Division of the RP-Sanjiv Goenka Group. Through this partnership, Too Yumm! hopes to leverage digital to increase and enhance its brand presence.
Key Segments of Fox Nuts Industry Research:
• By Type :
o Raw
o Processed
• By Buyer Type :
o Household & Residential Buyers
o Food Processors
• By Sales Channel :
o Direct Sales
o Hypermarkets/Supermarkets
o Online Retailers
o Grocery Stores
o Nutritional Food Outlets
o Others
• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa
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Impact of COVID-19 on Fox Nuts Market:
With over a million people now infected with COVID-19, the global supply chain is facing widespread disruption, thereby hampering the growth of fox nuts market. The prominent players in high-growth regions such as India are facing major issues with production capacity since majority of the workers and consumers continue to stay inside their homes during the lockdown. In terms of both demand and supply the current scenario is still probabilistic. The growth of fox nuts market is thus experiencing a slowdown in view of current pandemic. The market is projected to pick up pace through the first half of 2021.
Questionnaire answered in the Market outlook Report of Fox Nuts include:
• What is the key strategy deployed by large players to maximize Fox Nuts Market growth?
• What are the main challenges faced by players in the Fox Nuts market Demand?
• With the advent of technological advancement, how will the Fox Nuts market landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Fox Nuts market size?
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