The Global Peanut Oil Market size was at USD x.xx million in 2021 and is anticipated to reach an extent of USD x.xx million, record a CAGR of 4.0% throughout the outlook period (2022 - 2027).
Peanut oil is an edible vegetable oil, which is derived from peanuts and is used to enhance the flavor of the underlying food or as a cooking base. It has a high smoke point compared to other cooking oils and is used to fry food. Its main fatty acids include oleic acid, linoleic acid, and palmitic acid. In addition, it contains behenic acid, lignoceric acid, stearic acid, arachidic acid, and other fatty acids. There are several benefits of using peanut oils, including helping to balance cholesterol levels, preventing cancer, relieving constipation, etc.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2021 – 2027 |
Base Year |
2021 |
Forecast Period |
2022 - 2027 |
CAGR |
4.0% |
Segments Covered |
By Type, Application, Packaging Form and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Ventura Foods (Lou Ana), Archer Daniels Midland (Golden Peanut), Adani Wilmar Limited (Fortune Foods), Olam International, Cargill and Others. |
Increasing health concerns among the population due to the increasing prevalence of chronic diseases such as heart problems, blood pressure, etc., worldwide is expected to drive market revenue growth during the forecast period. In addition, the increase in population, the increase in the level of disposable income through a healthy lifestyle, a greater awareness of the health benefits of peanut oil, the change in eating habits, the change of preferences of consumers, are factors that are expected to drive the growth of the global peanut oil market. The increasing awareness about medicinal purposes and skin care products of peanut oil is supposed to promote expansion in the worldwide market in the future. Peanut-derived ingredients have found applications in personal care products like moisturizers, cleansers and others. Therefore, the growing demand for these derivatives in various industries inflates the demand for peanut oil, which promotes higher production and, as a result, boosts the market for peanut oil. However, the high production cost involved in the making of peanut oil is predicted to impede the rapid expansion in this industry. Also, high consumption of peanut oil leads to various side effects on human health, one of the main factors that can hinder the growth of the target market to some extent.
Peanut oil is segmented based on packaging, type, and application. Depending on the type, the market is segmented into refined and unrefined peanut oil. The refined oil is refined by bleaching and deodorization. This process essentially removes components that can cause peanut allergies, making refined peanut oil non-allergic. The high smoke point offered by refined peanut oil makes it an attractive frying oil for hotels and restaurants. Unrefined peanut oil offers the nutty flavor of peanuts and is therefore an ideal choice for salad dressings.
On the basis of the application, the market is segmented into food, personal care, pharmaceutical and others. Food is the dominant segment and is expected to remain so due to the nature of the market. The growing interest in incorporating herbal or natural solutions into everyday products is a major driver for the personal care products segment. In personal care products, peanut oil can be used in the making of skin care and baby care products. Peanut oil is also used in a wide range of pharmaceuticals, including weight loss, cholesterol-lowering medications, heart medications, and constipation.
On the basis of packaging, the market is segmented into plastic bottles and containers, glass containers, plastic bags and cartons. Convenience, cost, and shelf life are important parameters in evaluating the performance of any type of packaging method. Plastic bottles and containers and plastic bags are important and dominant segments due to their applicability in the preparation of food products.
The coronavirus outbreak has had its severe impact on the food & beverage industry and all its associated businesses like peanut oil market. The lockdown implemented in several developing nations that led to the shutdown of manufacturing units had resulted in a decline in sales and revenue during this period. However, the market is foreseen to record substantial growth in the coming days as the peanut is relatively affordable and offers health related advantages
The global Peanut Oil market has been divided by geography in the regions of North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. The North American market is expected to represent a significant part of the world market in terms of revenue, driven by the increased consumption of peanut oil in the countries of the region. This can be attributed to the growing demand for peanut oils from the food and pharmaceutical industries in the countries of the region. The Asia-Pacific is determined to progress as the largest market and register a significant CAGR over the conjecture period. The peanut oil markets in Europe and Latin America are also foreseen to record moderate growth during the anticipated period.
Archer Daniels Midland had the protruding portion of the Peanut Oil Market in terms of sales and revenue in 2019.
Key Players in the Market:
Major Key players in the Peanut Oil Market are
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