North America Peanut Oil Market

North America Peanut Oil Market Analysis 2021:

North America Peanut Oil Market is worth USD xx million in 2020 and estimated to grow at a CAGR of xx.xx%, to reach USD xx million by 2026. The North America Peanut Oil market is developing at an exceptionally quick pace.

Peanut oil is a mild-tasting vegetable oil derived from peanuts. It is also known as groundnut oil or arachis oil. This oil has a strong peanut flavor and aroma, similar to sesame oil. It has a high smoke point relative to other cooking oils and is used for frying food. Sometimes antioxidants like vitamin E are also added to improve the shelf life of the oil.

Due to lack of unique functionality of peanut oil as compared to other oils, the demand is expected to be stagnant during the forecast period. The significant drivers are the functional properties of peanut oil. It is used for deep frying as it does not flavor the underlying food item. Also, nutty flavor of peanut is expected to increase the demand for Peanut Oil. However high prices and increasing demand of soybean restricts the growth of the North America Peanut Oil Market.

North America Peanut Oil Market Segmentation:

The North America Peanut Oil market is segmented on the basis of type, packaging, application and region. Based on Type the market is segmented into Refined and Unrefined. Based on packaging the market is segmented into Glass Containers, Plastic Containers, Cartons, Plastic Pouches, and Others. The plastic bottles and plastic pouches are dominant segments because of their particular applicability in preparing food products. Based on application the market is Personal Care Products, Food, Pharmaceutical, and Others.

Market Regional Insights:

The North America market has been geographically segmented into segmented into US, Canada and Mexico. US has the largest demand followed by Canada. USA is major producer and accounts for about 10% of the market share.

North America Peanut Oil Market Major Players:

Archer Daniels Midland (Golden Peanut), Adani Wilmar Limited (Fortune Foods), Ventura Foods (Lou Ana), Parrish and Heimbecker, Ventura Foods, Hain Celestial Group, Cargill, Incorporated, Olam International,General Mills Inc., Associated British Foods are the leaders in the North America Peanut Oil market.