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Peanut Oil Market Segmented By Organic and Conventional Nature in Food Industry, Food Service Industry, Household/Retail
The global market for peanut oil is poised to expand at value CAGR of around 4.1% to reach value of approximately of US$ 15,002.8 Mn by end of 2033. The global market is currently pegged at 10,409.9 Mn and anticipated at high rate owing to high demand from food and beverage industry.
| Attributes | Key Insights |
|---|---|
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Peanut Oil Market Size (2023E) |
US$ 10,409.9 Mn |
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Projected Sales of Peanut Oil (2033F) |
US$ 15,002.8 Mn |
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Value CAGR (2023-2033) |
4.1% |
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Value Share of Top 4 Countries (2022E) |
59.4% |
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The global peanut oil market has showed satisfactory growth in the historical period registering a value CAGR of 3.1% and was valued at US$ 8,399.7 Mn in 2018. The market is expected to grow steadily with increasing awareness and benefits about applications of peanut oil.
Peanut oil is considered to be one of the healthiest cooking oil as it is free from trans-fat and has low saturated fats. Due to lower proportion of saturated fat, it is gaining traction among the health conscious consumers. Since the health consciousness among the consumer is growing, the consumption pattern of edible oil is also witnessing the tectonic change. This has led the manufacturers to introduce the healthy and fortified edible oil. Furthermore, rising emergence of modern trade channels across the developing regions, the outreach of edible oil is increasing in these regions.
Revenue from the global Peanut Oil market is estimated to be US$ 10,409.9 Mn in 2023, and is expected to reach value of US$ 15,002.8 Mn by the end of 2033.
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Get a Customized Version“Growing Demand for Processed Food Profiting Market Growth”
The food industry is the fastest-growing sector in the world, and it is expanding in emerging markets and also strengthening its presence in established markets. With growing demand for healthy food and functional food, manufacturers are adopting and innovating novel processing technologies. Rise in disposable income due to economic growth, especially in emerging markets, has increased sales of convenience and processed foods. Increased working population and hectic lifestyle of consumers are expected to contribute to the growth of the processed food market, which will directly propel the demand for edible oils, which is a plus for this market due to the numerous peanut oil benefits.
“Rising Number of Quick service restaurants to boost the sales of Peanut Oil”
The chain restaurants which includes cafes and quick service restaurants are growing with faster pace. Foodservice sector is the holding the largest share in end use application of peanut oil, thus growth of foodservice industry will boost the sales of peanut oil. Robust growth in number of QSR and hotels in all the regions is the key factor for the high demand of peanut oil from the foodservice segment. High Smoke point of the peanut oil is the factor for being most popular oil across the globe used for deep frying, sauntering and grilling. Increasing tourism is benefitting the foodservice sector which is expected to accelerate the peanut oil demand.
“Consumption of Peanut Oil Rising in the Cosmetics and Pharmaceutical Sectors”
Peanut oil is gaining popularity as a key ingredient in cosmetics and pharmaceutical products. Crude peanut oil has a high content of vitamin D & E, and also has antioxidant properties, which makes it an excellent ingredient in soap and other skincare products. Peanut oil has a high-fat content, which makes it an excellent base for massage oils. Various cosmetic manufacturers use fortified peanut oil as an emollient in skincare and hair care products. Cosmetic manufacturers are making appealing soaps, serums, and other products using flavoured plant-based oil with its nutrients retained. The moisturizing characteristics and anti-aging feature of high-oleic oils are the key reason for their increasing use in cosmetic products.
“Manufacturers preferring specialized oils benefiting Peanut Oil market”
Companies are focusing on developing oil, especially for salad dressing purposes. These oil are gaining attention by consumers, owing to aroma and flavors it adds to bland salads. Companies are also offering customization facilities for edible oils. Consumers are favoring the natural buttery texture and nutty flavors of the peanut oil to enhance the aroma and savor of the salads and other food products
Edible oil producers have been thriving to improve and offer nutritionally enhanced oil. Companies are offering fortified edible oil as a unique proposal to customers, as it contributes to additional functionality of oils.
Which Country Shows Promising Growth Potential for Peanut Oil Demand in the European Market?
The market for peanut oil is predicted to experience significant growth in the Europe. Italy accounts for the largest share in the region at around 24.2%, which is expected to grow at rate of 2.0% from (2023-2033) Demand for peanut oil is growing as it contains healthy fat and doesn’t impact the taste of food products during their preparation, which is making it an ideal choice for food manufacturers across Europe.
Why is China the Main Market for Peanut Oil Suppliers in East Asia?
China accounts for the largest share in the East Asia market for peanut oil, owing to increasing health awareness among consumers and China being the largest peanut oil producing country in the world. Market share of China in the East Asia region is around 95.4%.
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Will Conventional Peanut Oil Still Remain the Most Demanded across the World?
Based on nature, peanut oil is segmented into organic and conventional, of which, conventional peanut oil is mostly consumed and demanded in the global market as opposed to organic peanut oil. Market value share of the conventional nature of peanut oil is above 90% for estimated year, however the growing preference for organic products across the globe is benefiting the market growth.
Which End-use Industry Drives Most Demand for Peanut Oil?
The foodservice and retail/household industries are showing the highest growth potential for peanut oil producers for the years ahead. The foodservice industry is set to register a value CAGR of 3.9% and the retail/household industry 4.5% for the use of peanut oil for year 2023. These industrial segments are providing lucrative business opportunities for peanut oil manufacturers to benefit from various peanut oil uses.
Major peanut oil manufacturers are inclined toward expansion, innovation, and R&D processes to meet consumer needs & requirements for peanut oil. Peanut oil providers also strive to improve their operational and innovative capabilities. This is helping companies maintain their customer base for extended periods. Companies such as Archer Daniels Midland Company, Cargill, Incorporated, Adani Wilmar, and others are some of the major players operating in the global peanut oil market. Regional multinational players account for a market share of 30-35%, and local players 20-25% respectively.
The company has also obtained quality certificates like ISO, HALAL, and other worldwide accepted certificates. Furthermore, the company also producing organic peanut oil to meet the market demand for organic products.
| Attribute | Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2018-2022 |
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Market analysis |
USD million for value |
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Key market segments covered |
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Key companies profiled |
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Customization & pricing |
Available upon request |
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The global market for peanut oil has a value of US$ 10,409.9 Mn in 2023.
The global market for peanut oil has a value CAGR of 3.1% from 2018-2022.
The global market for peanut oil has a value of US$ 15,002.8 Mn in 2033.
The global market for peanut oil has a value CAGR of 4.1% from 2023-2033.
Archer Daniels Midland Company, Cargill Incorporated, Bunge Ltd, Adani Wilmar International, and Hain Celestial Group, Inc. are the major 5 peanut oil manufacturers, accounting for around 40% to 45% market share.
Demand drivers for peanut oil are rising sales of processed food, manufacturers offering specialized oils, growing popularity of fortified edible oils, and rising number of quick-service restaurants.
