Peanut Oil

Peanut Oil

Global Peanut Oil Market to Reach US$12.6 Billion by 2030

The global market for Peanut Oil estimated at US$10.2 Billion in the year 2023, is expected to reach US$12.6 Billion by 2030, growing at a CAGR of 3.0% over the analysis period 2023-2030. Refined Peanut Oil, one of the segments analyzed in the report, is expected to record a 3.2% CAGR and reach US$11.0 Billion by the end of the analysis period. Growth in the Unrefined Peanut Oil segment is estimated at 1.2% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.8 Billion While China is Forecast to Grow at 5.8% CAGR

The Peanut Oil market in the U.S. is estimated at US$2.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.6 Billion by the year 2030 trailing a CAGR of 5.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 0.9% and 2.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.5% CAGR.

Global Peanut Oil Market - Key Trends and Drivers Summarized

Peanut oil, also known as groundnut oil, is a popular edible oil extracted from the seeds of the peanut plant. Its mild flavor and high smoke point make it ideal for frying, cooking, and even in salad dressings. Peanut oil is particularly valued in Asian, American, and African cuisines, where it enhances the flavor profile of dishes without overpowering the main ingredients. It is available in several varieties, including refined, unrefined, cold-pressed, and roasted, each offering distinct flavors and cooking properties. Nutritionally, peanut oil is prized for its balance of monounsaturated and polyunsaturated fats, which are beneficial to heart health. It is also a source of vitamin E, an antioxidant that contributes to skin health and immune function. Despite its health benefits, peanut oil is a concern for people with peanut allergies, as it can trigger severe reactions depending on the processing method used.

The market for peanut oil has seen diverse applications beyond just culinary uses. It is employed in the manufacturing of cosmetics and personal care products, such as moisturizers and lotions, due to its hydrating properties and vitamin E content. Additionally, peanut oil is used in the pharmaceutical industry as an excipient in medications, aiding the absorption of soluble drugs. Its application in these industries has been influenced by the growing trend towards natural and organic ingredients in product formulations. The demand for peanut oil in the food industry continues to rise with the increasing popularity of ethnic cuisines that traditionally use this oil. Furthermore, as consumers become more health-conscious, there is a growing preference for oils like peanut oil that offer health benefits, including lower cholesterol levels and improved heart health, compared to traditional animal fats or hydrogenated oils.

The growth in the peanut oil market is driven by several factors, including technological advancements in oil extraction and processing, which have improved yield and quality while reducing costs. These advancements have made peanut oil more competitive against other vegetable oils. Consumer behavior also plays a significant role, as there is an increasing demand for healthier cooking oils due to rising health consciousness. The market has responded with a variety of product offerings tailored to health and dietary preferences, such as organic and non-GMO peanut oil. Additionally, the expansion of global cuisine and the growing popularity of Asian and African foods in Western countries have broadened the consumer base for peanut oil. Environmental and sustainability concerns have prompted manufacturers to adopt more eco-friendly practices and transparent supply chains, further appealing to today`s informed and environmentally aware consumers. These factors together ensure that the peanut oil market continues to expand and adapt, meeting the evolving needs and preferences of a diverse global audience.

Select Competitors (Total 35 Featured) -

• Amanah Oil Cc
• Archer Daniels Midland Company
• Bon Organics
• Cargill Incorporated
• Conscious Food Pvt. Ltd.
• Expo Organics
• Glentham Life Sciences Limited
• Jinsheng Cereals & Oils Foods Group Co.,Ltd (Jinsheng Group)
• Liberty Oil Mills Limited
• Louis Dreyfus Company B.V.
• Qingdao Changsheng Group Co., Ltd.
• Spectrum Organic Products LLC
• Ventura Foods, LLC
• Wilmar International Limited
• Yihai Kerry Arawana Holdings Co., Ltd;

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