Global Peanut Oil Market – Industry Trends and Forecast to 2029

Global Peanut Oil Market, By Type (Refined, Unrefined), Application (Personal Care Products, Food, Pharmaceutical, Others), Packaging (Glass Containers, Plastic Containers, Cartons, Plastic Pouches, Others), Product (Cold Pressed, Hot Pressed), End User (Home, Restaurant, Food Manufacture, Other) – Industry Trends and Forecast to 2029.

Peanut Oil Market Analysis and Size

Deaths from cardiovascular disease have recently increased around the world, which tends to boost the peanut oil product market. Peanut oil has been known for its health benefits, particularly for heart health. However, rising chronic diseases such as heart disease, arthritis, strokes, and cancer are expected to drive up demand for peanut oil around the world.

Data Bridge Market Research analyses that the peanut oil market was valued at USD 2.40 billion in 2021 and is expected to reach the value of USD 3.28 billion by 2029, at a CAGR of 4.00% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Peanut Oil Market Scope and Segmentation

Market Definition

Peanut oil is a type of vegetable oil derived from peanuts. It is also known as groundnut oil or arachis oil. The oil has a strong peanut aroma and flavour and is mostly used for deep frying in the food industry. Peanut oil is ideal for deep frying because it does not absorb the flavour of the primary food product.

Peanut Oil Market Dynamics

Drivers

• Rising health awareness

The peanut oil helps to reduce the risk of abnormal heartbeats or arrhythmias, which can lead to sudden death. It also aids in lowering triglyceride levels, slowing the growth rate of atherosclerotic plaque, and lowering blood pressure. Consumers are increasingly opting for healthier alternatives, and they see preventive care as a necessary tool to help them live a healthier lifestyle. As a result, peanut oils are becoming more popular because they are high in vitamins, proteins, and minerals and can aid in the treatment of diseases such as cancer, asthma, and depression.

• Marketing strategies and endorsements to boost market growth

Brand name, nutritional value, and product safety are all factors that influence consumer purchasing decisions. Various mergers and acquisitions, partnerships, collaborations, and relatively high investment in the food industry have been propelling the peanut oil market at a consistent rate.

Opportunity

The increasing use of peanut oil in pharmaceuticals, as well as increased public initiatives related to health and fitness, are driving the market forward. Consumer awareness of the health benefits of peanut oil is increasing the pressure on market players to innovate in order to stay competitive. Increased consumer awareness of the numerous benefits of peanut oil is driving up demand for it in the cosmetics and personal care sectors. It is now easier to find information for home-made remedies for skin conditions and personal care. As a result, consumers are turning to medicinally beneficial oils such as peanut oil for homemade personal care products.

Restraints

One restraining factor in the peanut oil market has been the processing cost of peanut oil. As a result, peanut oil prices rise in general, and consumers become more hesitant to purchase it compared to other edible oils. This is more visible in regions with low disposable income than in developed regions.

This peanut oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the peanut oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Peanut Oil Market

The COVID19 pandemic has significantly impacted the global peanut oil market. Due to laws and regulations imposed by various governments of different countries, several manufacturing units of peanut oil were closed, which negatively impacted the product's production volume. This has also had a negative impact on the trading chambers of peanut oil around the world. With most countries in the world on partial or full lockdown, demand for cooking peanut oil was drastically reduced in the early stages of the pandemic.

Recent developments

• Shree Ram Proteins Ltd announced plans to construct a new oil refinery in 2022 in order to diversify its business. For the new business segment, the company has ordered a cutting-edge refining plant. The company intends to launch Rape Seed Oil, Groundnut Oil, and Cottonseed Oil by the end of January 2023. It is classified as edible oil and will be used in the domestic market of the company. As a result of diversification, the company's business and product offerings to customers are expanding.
• In 2021,  Cargill purchased an edible oil refinery in Nellore, Andhra Pradesh, to expand its footprint in Southern India and strengthen its existing supply chain in the country.

Global Peanut Oil Market Scope

The peanut oil market is segmented on the basis type, product, end user, packaging and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Refined
• Un-refined

Product

• Cold pressed
• Hot pressed

Packaging

• Glass Containers
• Plastic Containers
• Cartons
• Plastic Pouches
• Others

Application

• Personal Care Products
• Food
• Pharmaceutical
• Others

End users

• Home 
• Restaurant
• Food Manufacture
• Other

Peanut Oil Market Regional Analysis/Insights

The peanut oil market is analysed and market size insights and trends are provided by country, type, product, end user, packaging and application as referenced above.

The countries covered in the peanut oil market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America market is expected to account for the largest revenue share in the global market over the forecast period due to the increasing adoption of peanut oil in the cosmetic industry and the presence of major operating players in the U.S. and Canada.

Asia-Pacific market is expected to grow at a faster rate. Growing population, rising disposable income, increased presence of manufacturers, and increased awareness among individuals about the health benefits of peanut oil usage are the factors driving the growth of the peanut oil market in the region. Furthermore, rising use of peanut oil in the cosmetic sector is a factor driving growth in the Asia-Pacific market.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Peanut Oil Market Share Analysis

The peanut oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to peanut oil market.

Some of the major players operating in the peanut oil market are:

• Georgia-Pacific Chemicals LLC (U.S.)
• Kraton Corporation (Netherlands)
• Eagle Imports (U.S.)
• PAG KIMYA SAN. TIC. LTD. STI. (Turkey)
• GrantChem, Inc. (U.S.)
• LLC PK "XimProm" (Russia)
• AKAY TIC SAN KOLL STI - YUKSEL AKAYLAR (Turkey)
• Fujian Qina Trading Co. Ltd. (China)
• IBRAHIM WALI MOHAMMAD & CO. (Pakistan)
• G.C. RUTTEMAN & Co. B.V. (Netherlands)
• MALPLAST INDUSTRIES LIMITED (Kenya)
• Akay Ticaret Ve Sanayi Koll.Sti. (Turkey)
• Matole Ltd (Hungary)
• Finis Vegetable Oil B.V. (Netherlands)
• Bettcher Industries, Inc. (U.S.)
• Anko Food Machine Co. Ltd. (Taiwan)
• Heat and Control, Inc. (U.S.)
• BAADER (Germany)
• Dover Corporation (U.S.)