Peanut Oil Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Peanut oil, also known as groundnut oil, is a versatile vegetable oil derived from peanuts known for its mild flavor and high smoke point, making it ideal for cooking methods such as frying and stir-frying. It is also prized for its health benefits, including its high content of monounsaturated fats and vitamin E.

Sizing and Forecast
The peanut oil market size has grown strongly in recent years. It will grow from $9.74 billion in 2023 to $10.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%.  The growth in the historic period can be attributed to the growing demand for processed food, rising consumer awareness, the growing demand for peanut oil in the cosmetics and personal care sectors, and government support for agriculture.

The peanut oil market size is expected to see strong growth in the next few years. It will grow to $12.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.  The growth in the forecast period can be attributed to a rising number of quick-service restaurants, rising disposable income levels, rising health awareness, rising food and beverage expenditures, and growing demand for processed food. Major trends in the forecast period include novel processing technologies, cold pressing technology, advancements in technology, advanced oil processing machines, and collaborations and partnerships.

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Segmentation & Regional Insights
The peanut oil market covered in this report is segmented –

1) By Type: Refined, Un-Refined
2) By Packaging: Glass Containers, Plastic Containers, Cartons, Plastic Pouches, Other Packaging Types
3) By Distribution Channel: Business To Business, Hypermarket Or Supermarket, Online Sales Channels, Independent Retail Stores
4) By Application: Personal Care Products, Food, Pharmaceutical, Other Application
5) By End Users: Home, Restaurant, Food Manufacture, Other End Users

Asia-Pacific was the largest region in the peanut oil market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the peanut oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Growing consumer awareness and health concerns are expected to propel the growth of the peanut oil market going forward. Consumer awareness and health concerns are on the rise due to increased access to information, higher expectations for product transparency, and a growing emphasis on personal well-being. Peanut oil is a versatile cooking oil that supports heart, skin, and brain health and immunity, making it valuable for health-conscious individuals when consumed in moderation. For instance, in May 2022, according to an online survey conducted by the International Food Information Council of 1,005 Americans ages 18 to 80., a US-based non-profit organization, 52% of Food and Health Survey participants followed a specific diet or eating pattern, up from 39% in 2021. The increased dieting has come primarily from consumers under the age of 50. The most common diets or eating patterns this year include clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Therefore, growing consumer awareness and health concerns will drive the peanut oil market.

Key Industry Players
Major companies operating in the peanut oil market are  Cargill Inc., Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, CHS Inc., Olam International, Yihai Kerry Investments Co. Ltd., Louis Dreyfus Company, Adani Wilmar, Ruchi Soya Industries Ltd., Hain Celestial Group, J-Oil Mills Inc., Lam Soon Group, Ventura Foods, Agarwal Industries Pvt. Ltd., Liberty Oil Mills Ltd., Golden Peanut and Tree Nuts, Catania Oils, Planters Peanut Co., Agro Indonesia, Manishankar Oils Pvt. Ltd., Shree Ram Proteins Ltd, Kothari Oils

The peanut oil market report table of contents includes:
1. Executive Summary
2. Peanut Oil Market Characteristics
3. Peanut Oil Market Trends And Strategies
4. Peanut Oil Market - Macro Economic Scenario
5. Global Peanut Oil Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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