The Global Peanut Oil Market size is expected to reach $13.8 billion by 2030, rising at a market growth of 4.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,481.4 kilo tonnes, experiencing a growth of 4.2% (2019-2022).
Online platforms showcase a diverse range of peanut oil brands and product variants. Consumers can explore different options, compare prices, and read reviews, leading to informed purchasing decisions, and promoting product diversity in the market. Online retailers provide detailed product information, including nutritional content, manufacturing processes, and packaging details. Consequently, the online sales channel segment would generate approximately 15.23 % share of the market by 2030. Also, South Korea would utilize 9.4 kilo tonnes of unrefined peanut oil by 2030. This transparency enables consumers to make well-informed choices based on their preferences and dietary requirements.
Peanut oil is a good source of omega-6 fatty acids essential for the body. As consumers become more aware of the importance of including essential nutrients in their diets, peanut oil's omega-6 content adds to its nutritional appeal As awareness of glycemic index and its impact on blood sugar levels grows, peanut oil becomes a preferred cooking oil for those with diabetic dietary considerations. Therefore, the market is expanding significantly due to the expansion of health and wellness trend.
Additionally, Peanut oil is an excellent emollient, providing deep moisturization to the skin. Its ability to penetrate the skin's surface helps nourish and hydrate the skin, making it a valuable ingredient in moisturizers, lotions, and creams. Peanut oil's anti-inflammatory properties make it suitable for soothing irritated skin. Hence, increasing cosmetic and skincare applications has been a pivotal factor in driving the growth of the market.
However, Consumer education initiatives highlight the nutritional content of peanut oil, emphasizing its balanced fatty acid profile, vitamin E content, and potential health benefits. This knowledge influences consumers to choose peanut oil as a healthier cooking option. Consumer education includes providing cooking tips and techniques that showcase the culinary versatility of peanut oil. Thus, because of the rising consumer awareness and education, the market is anticipated to increase significantly.
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Challenges Based on application, the market is classified into cosmetics, food, pharmaceuticals, and others. In 2022, the food segment witnessed a 38.05 % revenue share in the market. In terms of volume, Cosmetics segment utilized 340.4 of peanut oil in 2022. Peanut oil suits various cooking methods, including frying, sautéing, stir-frying, and baking. Its versatility in home kitchens and professional settings makes it a go-to cooking oil for chefs and home cooks alike. Peanut oil's high smoke point and composition create crispy and light textures in fried foods. It is a preferred choice for frying snacks, poultry, seafood, and other items, providing a satisfying and appetizing result.
On the basis of distribution channel, the market is divided into hypermarket/supermarket, independent retail stores, business to business, and online sales channels. The hypermarket/supermarket segment garnered a 31.72 % revenue share in the market in 2022. Hypermarkets/supermarkets typically carry various peanut oil brands and varieties. This multiple allows consumers to choose from different options, including refined, unrefined, organic, and specialty variants, catering to diverse preferences and requirements.
By type, the market is categorized into refined and unrefined. In 2022, the refined segment held the 81.84 % revenue share in the market. Refined is processed to have a high smoke point, typically above 440°F (227°C). This characteristic makes it suitable for various high temperature cooking methods, including deep frying, sautéing, and stir-frying. The oil's stability at high temperatures prevents it from breaking down or producing undesirable flavors, making it a preferred choice in professional kitchens and households.
Free Valuable Insights: Global Peanut Oil Market size to reach USD 13.8 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a 29.77 % revenue share in the market. Peanut oil has a high smoke point, making it an excellent choice for frying. In North America, where fried foods are popular, peanut oil's ability to withstand high temperatures without breaking down or producing off-flavors makes it a preferred cooking oil for various fried dishes. The rise of local and artisanal food production has led to the emergence of small-scale peanut oil producers in North America.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 9.9 Billion |
| Market size forecast in 2030 | USD 13.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.3% from 2023 to 2030 |
| Number of Pages | 316 |
| Number of Table | 710 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | Olam Group Limited (Temasek Capital), The Hain Celestial Group, Inc., Wilmar International Limited, Cargill, Incorporated, Archer Daniels Midland Company, COFCO Corporation, Patanjali Ayurved Limited, CHS Inc, Mother Dairy Fruit & Vegetable Pvt. Ltd., Bunge Limited |
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
The Market size is projected to reach USD $13.8 billion by 2030.
Rapid Shift Towards Online Retail Platforms are driving the Market in coming years, however, Lack Of Supply Chain Challenges restraints the growth of the Market.
Olam Group Limited (Temasek Capital), The Hain Celestial Group, Inc., Wilmar International Limited, Cargill, Incorporated, Archer Daniels Midland Company, COFCO Corporation, Patanjali Ayurved Limited, CHS Inc, Mother Dairy Fruit & Vegetable Pvt. Ltd., Bunge Limited
In the year 2022, the market attained a volume of 1,481.4 kilo tonnes, experiencing a growth of 4.2% (2019-2022).
The Business-To-Business segment is leading the Market, by Distribution Channel in 2022 thereby, achieving a market value of $6 Billion by 2030.
The Asia Pacific region dominated the Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5.3 Billion by 2030.
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