The new report by Expert Market Research titled, ‘Global Peanut Oil Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global peanut oil market size, assessing the market based on its segments like product types, application, packaging, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5%
Increasing use of peanuts for immediate production and processing is driving the growth of peanut oil market. Due to a small proportion of saturated fats, trans-fats, and cholesterol, it is also a comparatively healthier oil. The rising consumer consciousness of health propels the market growth. Peanut oil’s nutty aroma is also contributing to the peanut oil market as it is increasingly used as a dressing and flavouring agent. It is suitable for deep-frying as it does not absorb the flavour of the food and has a high smoke point. However, peanut allergy is a serious concern for the market as people suffering from it are relatively high.
Peanut Oil Industry Definition and Major Segments
Peanut oil is also known as groundnut oil and arachis oil is a type of oil derived from peanuts. It is a mild or neutral oil. If oil is made from roasted peanuts, it has a strong flavour and aroma. Peanut oil has same functionality as compared to other vegetable oils, but the effect of fresh and unique oils makes it preferable over others.
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By product types, the market is divided into:
The major applications of the product are:
- Personal Care Products
On the basis of packaging, the industry is divided into:
- Plastic Bottles
- Plastic Containers
- Glass Containers
- Plastic Pouches
The global markets of peanut oil can be divided into:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Peanut Oil Market Trends
People are opting for peanut oil due to the health benefits it offers. Peanut oil is high in antioxidants and good fats that can keep heart healthy and blood sugar levels down. Using this oil for cooking can provide potential health benefits including heart health, better diabetes control, joint pain, joint pains, lower cholesterol and others. It contains high level of monounsaturated good fat and low levels of saturated bad fat, which is believed to help prevent heart disease and lower cholesterol. It is suggested that peanut oil helps to reduce fatty build up in blood vessels. This makes peanut oil suitable for cooking and medicinal purposes.
Key Market Players
The major players in the market are Archer Daniels Midland, Cargill, Incorporate, Olam International, Adani Wilmar Limited, and Ventura Foods, amongst others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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