Global Peanut Meal Market - 2022-2029

Global Peanut Meal Market - 2022-2029

Market Overview

The product left behind after the oil has been extracted from peanuts is called peanut meal. It is referred to as groundnut meal in some nations. Produced using a solvent extraction procedure under strictly monitored processing conditions, peanut meal has a high vegetable protein content (40–50%). The extracted flakes are toasted, dried to remove the solvent, and then crushed into a powder. For beef cattle, poultry, and aquaculture feeds, it is a very tasty source of nutrients. Protein, minerals, and energy are all abundant in peanut meal. The market for peanut meal is expanding primarily due to the rising demand for meat and aquaculture products. Two further variables accelerating the development of the market under study are growing knowledge of the quality of meat and dairy products and expanded livestock production.

The global peanut meal market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Market Dynamics:

Growing demand for meat and aquaculture products is driving the market

The worldwide economic downturn has had a very limited effect on the global meat market, which has maintained its positive outlook. The highest growth of meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, the Chinese demand for meat continues to surpass the domestic supply, according to report by Agriculture and Agri-food Canada. Fish are low in fats, cholesterol, and carbohydrates. Although not very high in protein, fish also provide essential vitamins and amino acids. The demand for seafood is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the world meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for animal feed in the global meat industry. The growing demand for meat and seafood is in turn likely to boost the peanut meal market as it would ensure that there is a steady demand for animal feed that includes peanut meal, in the coming years.

Market Segmentation:

Feed accounts for the highest share in global peanut meal market

Feed segment accounted for XX% of market revenue share in the year 2021. The market value of this segment is likely to reach USD XX million in 2029. Peanut meal is fed to the cattle, buffalo, sheep, goats, poultry and swine. Peanut meal is generally considered as an excellent feed ingredient due to its high protein content, low fibre, high oil (for expeller meal) and relative absence of antinutritional factors. It is often the default high protein source in regions where soybean meal is too expensive or not available. It is a highly palatable source of nutrition in animal feed for beef cattle, poultry and aquaculture rations. Peanut meal is an excellent source of protein, minerals and energy. However, peanut meal is a poor source of the essential amino acid threonine. In fact, peanut meal has been used in research to create a threonine deficiency in animals. Peanut meal is also low in lysine and methionine, but it is an excellent source of arginine.

Geographical Penetration: North-America is the dominating region during the forecast period

The majority of the market for peanut meal is in North America. The market in this region is likely to reach USD XX million in 2021, from its recorded value of USD XX million in 2029, growing with a CAGR of XX% during the forecast period. The market in this area is distinguished by increased nutmeal consumption and demand, as well as by high consumer disposable incomes that enable them to include a high-protein diet in their diets. The region's growing need for meat protein has led to an increase in meat production, particularly in the United States, Mexico, and Canada, where the consumption of peanut meal as feed has increased and is anticipated to expand at a healthy rate. Peanut meal feed is gaining importance in the region for its role in enhancing meat quality in addition to its improved nutritional content.

Competitive Landscape:

The top international corporations only hold a small portion of the world's market for peanut meal due to the fragmentation of the industry among minor regional players. In order to expand their businesses in domestic and international markets, the top companies are concentrating on buying feed mills and small manufacturing businesses. By buying out or joining forces with foreign producers, several of the players have been able to increase their geographic reach. The top businesses also prioritize regional business expansion and the construction of new facilities to expand both their product offerings and manufacturing capacity. The corporations are also enhancing the output capabilities of their current facilities. For instance, to capitalize on the country's increasing swine disease difficulties and grow its company, Singapore-based Wilmar International established additional plants as part of an initiative to build integrated manufacturing complexes in China in 2019.

COVID-19 Impact:

Positive impact on the global peanut meal market

The COVID-19 pandemic has had an effect on the food and beverage market by boosting demand for a variety of peanut meal due to their health advantages. The prolonged lockdown has had a significant impact on Europe, the Americas, and the rest of the world. It has provided an opportunity owing to their demand as a result of greater awareness of health issues and concern for maintaining immunity and, consequently, health. But because of the worldwide lockdown, both domestic and international transportation have been severely restricted, which has had a huge impact on the supply chains of many different industries and widened the supply-demand mismatch.

The global peanut meal market report would provide an access to approximately 53 market data tables, 41 figures and 170 pages