Peanut oil is an edible vegetable oil, which is derived from peanuts. Peanuts are legumes and are native to Latin America and various other tropical regions. Peanut oil is utilized either to enhance the flavor of the underlying food or as a base for cooking. It possess a high smoke point comparative to other cooking oils, and is used for frying food. Its major component fatty acids include oleic acid, linoleic acid, and palmitic acid. In addition, it contains arachidic acid, stearic acid, lignoceric acid, behenic acid, and other fatty acids.
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The global peanut oil market is highly congested with high level of competition among key players. Moreover, since there is no unique functionality of peanut oil when compared to other vegetable oils, the demand is anticipated to remain stagnant throughout the forecast period. The emergence of soybean oil is as an important reason for the declining growth of the global peanut oil market. The impact of new and unique oils is predominantly strong in developed regions, since consumers have access to new products and have a strong purchasing power. Peanut oil is relatively healthy owing to low percentage of trans-fats, saturated fats, and cholesterol. Moreover, the nutty flavor offered by peanut oil is a crucial factor, which is anticipated to accelerate the demand for peanut oil. However, high price of peanut oil and increase in demand for soybean oil hamper the market growth.
The global peanut oil market is segmented on the basis of type, application, packaging, and geography. Based on type, the market is categorized into refined and unrefined. By application, it is classified into personal care products, food, pharmaceutical, and others. According to packaging, it is divided into glass containers, plastic containers, cartons, plastic pouches, and others. Geographically, it is analyzed across into North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global market are focusing on key market strategies such as mergers, acquisitions, collaborations, and partnerships.
Top Key Players: Archer Daniels Midland, Cargill Incorporated, Olam International, Adani Wilmar Limited, Ventura Foods (Lou Ana), etc.
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- This report provides a quantitative analysis of the current trends, estimations, and dynamics from 2016 to 2023 to assist to identify the prevailing market opportunities.
- Major countries in each region are mapped according to the individual market revenue.
- The region-wise and country-wise market conditions are comprehensively analyzed.
- This study evaluates the competitive landscape and the value chain analysis to understand the competitive environment across geographies.
- The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
Peanut Oil Market Key Segments:
- Personal Care Products
- Glass Containers
- Plastic Containers
- Plastic Pouches
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