India Makhana Market

Market Overview:

The India makhana market size reached INR 100.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach INR 254.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.56% during 2024-2032. The rising awareness among individuals about the benefits of healthy snacking, the expansion of hotels, cafes, bakeries, and restaurants, and the increasing influence of food vlogging channels represent some of the key factors driving the market.

Makhana, also known as fox nut, is a nutritious snack derived from the seeds of the lotus plant. It is low in calories, fat, and sodium and is considered a good source of protein, carbohydrates, fiber, and various essential minerals like magnesium, potassium, and phosphorus. It offers a distinct flavor, a satisfying crunch and aids digestion, weight management and supports heart health. It exhibits anti-inflammatory and antioxidant properties, which help reduce inflammation and the effects of oxidative stress. It is gluten-free and suitable for individuals with gluten intolerance or celiac disease. It is used as a topping for desserts, yogurt bowls, smoothies, and breakfast cereals. Besides this, as it is high in thiamine content and helps in aiding cognitive function, the demand for makhana is increasing across India.

India Makhana Market Trends:

The rising prevalence of obesity and various health conditions, such as diabetes and cardiovascular diseases (CVDs), represents one of the key factors catalyzing the demand for healthy and nutritious snacks in India. Additionally, the increasing awareness among individuals about the health benefits of fox nut and its rising consumption as a snack that offers both taste and nutritional benefits is favoring the market growth in the country. Apart from this, increasing expenditure capacity is catalyzing the demand for premium and healthy food options. Furthermore, increasing number of people experiencing lactose and gluten allergies are driving the demand for makhana. Moreover, the easy availability of fox nuts across offline distribution channels, including hypermarkets, supermarkets, and convenience and grocery stores, is offering a favorable market outlook. Additionally, manufacturers are introducing flavored makhana variants, such as masala, cheese, and chocolate-coated makhana, to cater to diverse consumer preferences. They are also focusing on packaging innovations, such as the introduction of convenient, single-serve packs and resealable pouches to enhance portability and freshness. These innovative offerings are attracting consumers seeking novel taste experiences and prioritizing health and nutrition. Besides this, the rising influence of social media platforms, especially food vlogging channels, is positively influencing the market in India. Moreover, the expansion of hotels and restaurants in the country and the increasing use of fox nuts in curries, stews, and rice preparations is stimulating market growth.

India Makhana Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the India makhana market report, along with forecasts at the country levels from 2024-2032. Our report has categorized the market based on pack size, packaging type, and distribution channel.

Pack Size Insights:

The report has provided a detailed breakup and analysis of the market based on the pack size. This includes less than 250 gm, 250-500 gm, and more than 500 gm. According to the report, less than 250 gm represented the largest segment.

Packaging Type Insights:

A detailed breakup and analysis of the market based on the packaging type has also been provided in the report. This includes pouches, jars, and others. According to the report, pouches accounted for the largest market share.

Distribution Channel Insights:

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes modern trade, general trade, and online/e-commerce. According to the report, modern trade accounted for the largest market share.

Regional Insights:

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, West and Central India, South India, East India, and Northeast India. According to the report, North India was the largest market for makhana. Some of the factors driving the North India market included rising consumer preference for healthy snacking, popularity of food vlogging channels and blogs, and the easy availability of fox nuts across offline and online distribution channels, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have been provided. Some of the companies covered include Dharampal Premchand Limited (Snack Factory), Divinutty Products Private Limited, Farmley, Happilo, Harry Food Processing, Madhubani Makhana, Makhana Wala, Mithilia Naturals, Rishab Global Industries Private Ltd. (Mr. Makhana), Sattviko, Snackible, Sun Organic Industries Private Limited, Sunirav Impex, Swastik Food Group, VKC Nuts Pvt. Ltd (Nutraj), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

India Makhana Market Report Coverage:

Key Questions Answered in This Report:

• How has the India makhana market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the India makhana market?
• What is the impact of each driver, restraint, and opportunity on the India makhana market?
• What is the breakup of the market based on the pack size?
• Which is the most attractive pack size in the India makhana market?
• What is the breakup of the market based on the packaging type?
• Which is the most attractive packaging type in the India makhana market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the India makhana market?
• What is the competitive structure of the India makhana market?
• Who are the key players/companies in the India makhana market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India makhana market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the India makhana market.
• The study maps the leading, as well as the fastest-growing, regional markets.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India makhana industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.