Global Peanut Oil Market is Expected to Grow at a CAGR of 5% in the Forecast Period of 2024-2032

The Asia Pacific market is a major region within the global peanut oil market driven by the robust production of peanuts and its oil in countries like China and India. China and India account for a significant proportion of the global production, as well as global consumption of peanut. The growth of the market in the Asia Pacific is being driven by the rising adoption rate of the oil. North America also accounts for a major share of the global peanut oil market in terms of revenue. This could be attributed to the increase in the consumption of peanut oil in the region as disposable income increases in the United States and Canada. The rising demand of peanut oils in pharmaceutical industries is also an important driver propelling the growth of the market.

The market has witnessed a significant growth in the historical period due to the capacity additions and new acquisitions by the key players in the industry. In February 2017, Golden Peanut and Tree Nuts, a subsidiary of Archer Daniels Midland Company (NYSE: ADM), announced its investment in the construction of a new warehouse and receiving area at its shelling facility in Alabama, United States to meet the growing consumer demand for peanuts and peanut oil by increasing unloading speed and improving product quality. However, peanut oil production by these leading players might be affected adversely due to the spread of COVID-19, which has led to the temporary closures of restaurants and fast-food chain and labour shortages. Adani Wilmar, an industry leader for edible oils in India, had to cut the production of its Fortune brand cooking oil by nearly 40% in April 2021 due to lower demand and labour shortages. However, the market is expected to bounce back as the threat of the pandemic eases.

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Market Analysis by Product Type, Application, Packaging, and Region:

• The market on the basis of product type can be divided into refined and unrefined.
• By application, the market is segmented into food, personal care products, pharmaceutical, and others.
• Based on packaging, the industry can be divided into plastic bottles, plastic containers, glass containers, and plastic pouches.
• The regional markets for peanut oil include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Peanut oil has an elevated smoke point as compared to other cooking oils and is, thus, the preferred oil for frying food, which is driving the market growth.
• With small proportions of trans fats, saturated fats, and cholesterol, peanut oil is a comparatively healthier option. Given the growing consumer consciousness of health, these factors have become crucial for the market growth.
• Rising population, growing disposable income levels, and changing consumer preferences are also some of the factors anticipated to propel the global peanut oil market.

Key Offerings of the Report:

• The EMR report gives an overview of the global peanut oil market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for product type, application, packaging, and major regions of peanut oil.
• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods.
• The market report also analyses the trade data by covering the major importing and exporting countries.

The major players in the global peanut oil market are Archer Daniels Midland, Cargill Inc, Olam International, Adani Wilmar Limited, and Ventura Foods, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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