According to a new report, published by KBV research, 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).
Plant-based oils like peanut oil have experienced growth because of the popularity of plant-based diets and the rise in vegan consumers. It is often chosen as a plant-based alternative to animal fats in cooking and food preparation. The popularity of ethnic and fusion cuisines has led to increased use of peanut oil in various dishes. Its unique flavor profile complements a wide range of ingredients, making it a sought-after choice for chefs experimenting with diverse culinary influences.
The Cosmetics segment would experience a CAGR of 4.6% during (2023 - 2030). Peanut oil is well-known for its emollient and moisturizing properties. These attributes make it a valuable ingredient in skincare formulations, contributing to the hydration and nourishment of the skin. Peanut oil is often used in creams, lotions, and moisturizers to help maintain skin suppleness and prevent dryness. Vitamin E, an antioxidant that naturally protects the skin from free radicals, is in peanut oil. Skin damage and premature aging can both be attributed to free radicals. The antioxidant properties of peanut oil make it a beneficial ingredient in skincare products designed to combat oxidative stress.
The Business-To-Business segment is leading the Global Peanut Oil Market, by Distribution Channel in 2022 thereby, achieving a market value of $6 Billion by 2030. Food manufacturers and processors use peanut oil as an ingredient in a wide range of food products, including snacks, baked goods, sauces, dressings, and ready-to-eat meals. The business-to-business segment serves as a key supplier of peanut oil to these industries. Some businesses in the business-to-business segment engage in private label or contract manufacturing of peanut oil products for retail brands or food service clients. This involves producing peanut oil under the clients' brand names or specifications, expanding market segment reach, and offering customized solutions.
The Unrefined segment is anticipated to have a CAGR of 2,701.6% during (2023 - 2030). Unrefined peanut oil retains more of the natural nutrients found in peanuts than refined variants. It contains higher levels of antioxidants, essential fatty acids, and vitamin E. This nutritional profile appeals to consumers looking for cooking oils that provide added health benefits beyond basic cooking requirements. Unrefined peanut oil maintains the robust and distinct peanut flavor, giving dishes a more pronounced taste. This particularly appeals to those who enjoy peanut's authentic and nutty essence in their culinary creations. The unrefined oil's strong flavor adds a unique touch to various dishes.
Full Report: https://www.kbvresearch.com/peanut-oil-market/
The Asia Pacific region dominated the Global Peanut Oil 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. The North America region is experiencing a CAGR of 3.7% during (2023 - 2030). Additionally, The Europe region would witness a CAGR of 4.1% during (2023 - 2030).
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)
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