Peanuts Market Overview
The Peanuts Market around the world has been witnessing a significant boom in the past few decades, not only due to the rising popularity of peanut butter and groundnut oil, but also due to the extensive studies in nutrition that have pointed out that regular consumption of peanuts can be actually be beneficial to health. Studies have shown that consumption of small amounts of peanuts on a regular basis can lead to reduced risk of cancer, diabetes and heart disease.
Global Peanuts Market has been shown to a complete food with adequate content of carbohydrates high in good oils, protein, vitamins and minerals. Food scientists have been breeding healthier peanut varieties, with high oleic traits. High oleic is a monounsaturated oil, which can increase the shelf life of peanuts and peanut products by up to six months besides having added health benefits. Rising awareness about peanut nutrition will considerably contribute towards the expansion of peanuts market.
Some of the most well-known names in the peanuts market include Olam International, Kraft Foods Inc., Star Snacks Co., LLC, Virginia Diner, Diamond Foods, Inc., Hampton Farms, Inc. and Archer Daniels Midland.
Dec 2017 John B. Sanfilippo & Son, Inc. acquired Squirrel Brand, L.P or $31.5 million. Squirrel Brand is one of the leading suppliers of premium roasted nuts and snack mixes under its Squirrel Brand and Southern Style Nuts brands. The acquisition of the Squirrel Brand business provides the company with an established customer base and branded product line which will help in business expansion.
Sept 2017 KP Nuts launched new “on the go”. The product is available in attractive new packaging in four flavors; Fruit and Nut Energy Mix, Orange Nut Fudge Energy Mix, classic flavors Dry Roasted, and Original Salted. The product launch is in line with company’s strategy to acknowledge changing consumer preferences and customize products accordingly.
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Peanuts market is segmented based on form, application and distribution channel.
Based on Form peanuts market is classified as raw, blanched, roasted, powder and others. Among these the raw form is expected to hold the largest share in the peanuts market due to its necessity in various other application of peanuts derived products.
Based on Application peanuts market has a plethora of classification some of which are peanut butter and spreads, bakery and confectionery, peanut bars, culinary purpose, dairy products, oils etc. Based on application the largest market share is held by oil production followed by bakery and confectionery.
By Distribution Channel, peanuts market segmentation includes convenience stores, hypermarkets and supermarkets, e-commerce and others. Estimates show that majority of the peanuts products are bought in convenience stores and supermarkets.
The peanuts market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Asia Pacific holds a dominant position in the peanuts market due to the presence of large peanuts exporting countries such as India, China and Australia. This is followed closely by North America. With the rising recognition of the health benefits that peanut, and consumption of most peanut derived products have to offer are the chief driving forces for the growth of the peanuts market in every part of the world.
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