The global peanut oil market space is heavily congested with high levels of competitiveness between key players. Owing to low percentage of cholesterol saturated fats and cholesterol, peanut oil is considered a safe option, which is expected to accelerate demand in the global market. In developed regions, the influence of new and unique oils is primarily high, as customers have access to new products and have strong buying power. In addition, the nutty taste provided by peanut oil is a key factor expected to accelerate demand in all regions across the globe.
As per PMR analysis, the global peanut oil market is projected to progress at a steady CAGR of over 4%, to be valued around US$ 13.5 Bn by the end of 2030.
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Key Takeaways from Peanut Oil Market Study
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High Demand for Value-added Products in Various Segments
Application of peanut oil in the food industry is ever-increasing, as it has a high smoke point, and thus, can be used for deep-frying various food products. This offers immense growth opportunity to globally-established as well as new entrants in the peanut oil market space. Peanut oil is being used in making skin care products as well as in various baby care products. Crude peanut oil has high content of vitamin D and E, and is also known to have antioxidant properties, which make it an excellent ingredient in manufacturing soap and massage oils.
Easy availability of alternate products may restrain the growth of the global peanut oil market. Use of other vegetable oils can be a factor for the slowing growth of the global demand for peanut oil. Also, high peanut oil prices and rising demand for soybean oil are hampering market development.
However, massive emphasis of manufacturers on providing value-added oil products, together with growing awareness among customers regarding health benefits accumulated due to peanut oil intake, will drive the growth of the global peanut oil market over the coming years.
Global Peanut Oil Market: Competitive Landscape
Emergence of numerous international and domestic players is fragmenting the global peanut oil market. Some of the largest market players are Adani Enterprises Ltd., Archer Daniels Midland Co., Protect Oils, Louis Dreyfus, and Cargill Inc.
Many new entrants are also launching products to cater to rising demand from the food industry as well as the foodservice industry.