Peanut Oil Market

 Global Peanut Oil Market Size (2024 to 2029)

The Global Peanut Oil Market size was at USD 10.64 million in 2024 and is anticipated to reach an extent of USD 13.07 million by 2029, to record a CAGR of 4.2% throughout the outlook period (2024 to 2029).

Peanut oil is an edible vegetable oil, which is derived from peanuts and is used to enhance the flavor of the underlying food or as a cooking base. It has a high smoke point compared to other cooking oils and is used to fry food. Its main fatty acids include oleic acid, linoleic acid, and palmitic acid. In addition, it contains behenic acid, lignoceric acid, stearic acid, arachidic acid, and other fatty acids. There are several benefits of using peanut oils, including helping to balance cholesterol levels, preventing cancer, relieving constipation, etc.

MARKET DRIVERS AND RESTRAINTS

Increasing health concerns among the population due to the increasing prevalence of chronic diseases such as heart problems, blood pressure, etc., worldwide is expected to drive market revenue growth during the forecast period. In addition, the increase in population, the increase in the level of disposable income through a healthy lifestyle, a greater awareness of the health benefits of peanut oil, the change in eating habits, the change of preferences of consumers, are factors that are expected to drive the growth of the global peanut oil market. The increasing awareness about medicinal purposes and skin care products of peanut oil is supposed to promote expansion in the worldwide market in the future. Peanut-derived ingredients have found applications in personal care products like moisturizers, cleansers and others. Therefore, the growing demand for these derivatives in various industries inflates the demand for peanut oil, which promotes higher production and, as a result, boosts the market for peanut oil. However, the high production cost involved in the making of peanut oil is predicted to impede the rapid expansion in this industry. Also, high consumption of peanut oil leads to various side effects on human health, one of the main factors that can hinder the growth of the target market to some extent.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Peanut Oil Market Analysis By Type

Depending on the type, the market is segmented into refined and unrefined peanut oil. The refined oil is refined by bleaching and deodorization. This process essentially removes components that can cause peanut allergies, making refined peanut oil non-allergic. The high smoke point offered by refined peanut oil makes it an attractive frying oil for hotels and restaurants. Unrefined peanut oil offers the nutty flavor of peanuts and is therefore an ideal choice for salad dressings.

Global Peanut Oil Market Analysis By Application

On the basis of the application, the market is segmented into food, personal care, pharmaceutical and others. Food is the dominant segment and is expected to remain so due to the nature of the market. The growing interest in incorporating herbal or natural solutions into everyday products is a major driver for the personal care products segment. In personal care products, peanut oil can be used in the making of skin care and baby care products. Peanut oil is also used in a wide range of pharmaceuticals, including weight loss, cholesterol-lowering medications, heart medications, and constipation.

On the basis of packaging, the market is segmented into plastic bottles and containers, glass containers, plastic bags and cartons. Convenience, cost, and shelf life are important parameters in evaluating the performance of any type of packaging method. Plastic bottles and containers and plastic bags are important and dominant segments due to their applicability in the preparation of food products.

REGIONAL ANALYSIS

The global Peanut Oil market has been divided by geography in the regions of North America, Asia Pacific, Europe, Latin America, and Middle East and Africa. The North American market is expected to represent a significant part of the world market in terms of revenue, driven by the increased consumption of peanut oil in the countries of the region. This can be attributed to the growing demand for peanut oils from the food and pharmaceutical industries in the countries of the region. The Asia-Pacific is determined to progress as the largest market and register a significant CAGR over the conjecture period. The peanut oil markets in Europe and Latin America are also foreseen to record moderate growth during the anticipated period.

KEY PLAYERS IN THE MARKET

Key Players in the Market are Ventura Foods (Lou Ana), Archer Daniels Midland (Golden Peanut), Adani Wilmar Limited (Fortune Foods), Olam International, Cargill, etc

RECENT HAPPENINGS IN THE MARKET

• In January 2020, Aimmune Therapeutics Inc. ended a nearly nine-year quest to win the Food and Drug Administration for a peanut allergy treatment, the first of its kind that protects people from accidental and potentially fatal exposures.
• In March 2019, Gemini Edibles and Fats India Private Limited announced the launch of its new Freedom Dual Filtered Peanut Oil. This new release is part of the company's existing cooking oil line. This launch will also help them meet the growing demand for peanut oil.
• In August 2018, Jhandewalas Food Ltd announced the launch of its new Polki refined peanut oil in nachos, pastas and consumer packaging. This new oil is enriched with vitamin D and A and does not contain argemone oil or mineral oil. This new product has a shelf life of nine months.
• Archer Daniels Midland Co. (ADM) now controls 100% of Golden Peanut Company LLC. Alimenta was a 50% partner of ADM in Golden Peanut Company.
• Less than six months after completing its acquisition of Australia's Kraft peanut butter brand, Bega Cheese completes a $ 12 million purchase from the leading Queensland peanut supplier. Bega owned more than 93% of the shares in the Kingaroy-based Peanut Company of Australia (PCA), which began life as the Peanut Marketing Board of Queensland. It became a public unlisted company in 1992.

DETAILED SEGMENTATION OF GLOBAL PEANUT OIL MARKET INCLUDED IN THIS REPORT    

This research report on the Global Peanut Oil Market has been segmented and sub-segmented based on type, application, packaging & region.        

By Type

• Unrefined
• Refined

By Application

• Pharmaceutical
• Food
• Personal Care Products
• Others

By Packaging

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

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa