Peanut Oil Market Size Was Valued at USD 10397.20 Million in 2023 and is Projected to Reach USD 15318.66 Million by 2032, Growing at a CAGR of 4.4% From 2024-2032.
Peanut Oil, also referred to as groundnut oil, is a form of vegetable oil derived from peanuts. It is widely used for cooking, frying, and as a base for various food products, mainly in Asia and Africa. With its high smoke factor and mild taste, peanut oil is a popular desire in both household and industrial cooking.
Groundnut is prized for each its tasty seeds and high oil content. Concerning vegetable protein, it ranks 1/3 globally and is the world's fourth-maximum great supply of fit for human consumption oil. India's most important crop for oilseeds, groundnuts is also a sizeable agricultural export top. Groundnut production spans 327 lakh hectares global, yielding 539 million tonnes of productivity consistent with hectare at a productiveness of 1648 kg (FAOSTAT, 2021).
Key Players Covered in the Peanut Oil Market are:
Ambo Exports Industries Pvt Ltd. (India), Hunan Xianghe Food Co., Ltd. (China), Akbar Brothers (Pvt) Ltd. (Sri Lanka), Sayaji Industries Limited (India), Kaissa Oils (Ukraine), Mewah Group (Singapore), Gokul Refoils and Solvent Limited (India), Manishankar Oils Pvt. Ltd. (India), Aparna Industries Ltd. (India), EFKO Group (Russia), Fujian Kangquan Foodstuff Co., Ltd. (China) and Others are Major Players.
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Peanut Oil Market Trend Analysis
Specialized Peanut Oils Transforming Salad Dressing
The desire of manufacturers for specialised oils, mainly those meant for salad dressing programs, is a noteworthy fashion inside the peanut oil market. These oils are getting more and more famous with clients because of the flavor and aroma they add to in any other case dull salads.
Rising Consumer Awareness Fuels Demand for Peanut Oil Across Pharmaceuticals and Personal Care
The peanut oil marketplace is booming, attributable to its accelerated use in prescription drugs and the growing emphasis on health and fitness sports. As customers grow to be more privy to the fitness blessings of peanut oil, marketplace actors need to innovate to remain aggressive. This elevated client cognizance is also fueling demand for peanut oil inside the cosmetics and personal care industries.
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Segmentation of The Peanut Oil Market:
By Type
- Refined
- Unrefined
By Application
- Cosmetic
- Food
- Pharmaceuticals
By Distribution Channel
- Supermarkets and Hypermarkets
- Online
- Retail Stores
- Business to business
By Region
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Peanut Oil Market Regional Insights:
Asia Pacific is Expected to Dominate the Market Over the Forecast Period
The Asia-Pacific peanut oil market is anticipated to develop at a excessive compound annual growth charge (CAGR) over the projected duration. The Asia-Pacific region is experiencing a surge in demand for peanut oil due to factors together with developing e-trade, health concerns, manufacturing, and online grocery buying, that have made it extra handy for customers to achieve a wider variety of peanut oil.
Objectives Of The Study:
- To forecast the size of the market segments concerning 4 main regions, namely, North America, Europe, Asia Pacific (APAC)
- To provide detailed information regarding the major factors influencing the growth of the Peanut Oil Market (drivers, restraints, opportunities, and challenges)
- To analyze each submarket concerning individual growth trends, prospects, and contributions to the total market
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