The peanut oil market has expanded significantly with rising consumption of fried foods. Improving living standards, evolving dietary patterns, and growing customer preference for safe edible oil are factors driving the expansion of the global peanut oil market size.
Peanut oil nutrition is well known, as it is high in mono-saturated fat and low in saturated fat, and is known to help reduce heart disease and lower levels of cholesterol. This oil also helps prevent cancer, which is why, it is increasingly gaining preference among health-conscious customers, which is another factor expected to stimulate market growth at a CAGR of over 4% through 2030.
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- Cargill, Incorporated
- Archer Daniels Midland Company
- AAK Kamani Pvt. Ltd
- Patanjali Ayurved Limited incorporated
- Ventura Foods Canada.
- Saraswathi Mills
- Bunge Limited
- Liberty Oil Mills Ltd.
- Mother Dairy Fruits & Vegetable Pvt Ltd
- ALDI Inc
- Adani Wilmar International
- Hain Celestial Group, Inc.
- CHS Inc.
- Golden Peanut and Tree Nuts
Peanut Oil Market Trends
Rising Foodservice Industry Boosting Sales of Peanut Oil: Among the end use segments, the foodservice industry is the largest segment and holds around 40% - 45% of the overall peanut oil market share. Robust growth in a number of QSR and hotels in all regions is a key factor for the high demand for peanut oil from the foodservice segment. Apart from this, increasing tourism is also fueling growth of the foodservice industry, which is expected to accelerate demand for peanut oil brands. Trending pattern of food consumption from QSR, owing to busy lifestyles of consumers, will also provide opportunity to manufacturers in the peanut oil market space to focus on this segment. Owing to the high level of smoke, peanut oil uses include frying and cooking. However, there is a high degree of omega-6 and polyunsaturated fat that is less stable at high temperatures.
Rising Lifestyle Diseases Propelling Demand for low-fat & Less-calorie Food Products: Due to rising popularity of unrefined, unprocessed, nutritious, and organic oil, the global peanut oil market is expected to experience significant growth over the coming years. Due to increasing health awareness among people around the world, vegetable oils with low cholesterol, fat, and calories are likely to receive strong response in the years to come. In addition, major retail network changes, increased crop yield, oil production, and increasing economies are some of the main factors that support growth of the peanut oil market.
In the last few years, customer perception of their food & drinks and their production has taken a surprising turn. Consumers like to know what they eat, and are concerned about ingredients, manufacturing plants, and much more about crop harvesting activities. Transparency and traceability fulfil consumers' needs to access high-quality food. These ethical mechanisms of accountability and traceability provided by companies allow customers to gain valuable health information.
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Regional Outlook of Peanut Oil Market
East Asia holds the largest peanut oil market share in terms of value as well as volume, owing to high production of peanuts in the region. East Asia and South Asia dominate the global peanut oil market landscape; both regions together hold around 65% share of the global market. China is considered to be the world largest consumer of peanut oil, and high consumption of fried products in the region is a major factor for the growth of the peanut oil market. China is also the largest consumer and second-largest producer and importer of edible oils.
Over the forecast period of 2020 to 2030, Europe will give market vendors many growth opportunities. Factors such as shifting to healthier alternatives of animal fat would significantly drive the growth of the peanut oil market in this region.
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COVID-19 Impact on Peanut Oil Market
The massive spread of coronavirus across all regions has hampered many industries, including the food & beverage industry. Owing to imposed lockdowns and restrictions, food & food ingredient manufacturing companies in many countries were operating with limited numbers of employees, which affected the demand-supply of products. China, where coronavirus originated, is the largest producer of peanut oil, and disruption in manufacturing activities affected the global trade of peanut oil.
Loss of income and employment due closed businesses across many countries has affected the purchasing patterns of consumers. The COVID-19 pandemic has hit the retail sector hard, and companies are reshaping their management structures to maintain business as usual.
Consumers nowadays are more conscious about the food that they consume and the effect it has on their health, thus preferring more health-benefitting products. The COVID-19 pandemic has moderately affected the peanut oil market, with decreased demand from the foodservice industry. However, demand is expected to pick pace by the end of 2020. The pandemic has also pushed manufacturers to increase sales through e-Commerce channels to reach target customers.
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The global peanut oil market is expected to witness high value growth over the coming years, due to surge in consumption of processed foods. Peanut oil is considered healthier than other vegetable oils, which is expected to propel global demand from health-conscious consumers. With robust demand from end-use segments, the peanut oil market is expected to reach total value of US$ 13.5 Bn by the end of 2030.
Key Segments of Global Peanut Oil Market
PMR’s report on the global peanut oil market offers information divided into four segments – nature, end use, distributional channel, and region.