The global Peanut Oil market stood at approximately 3.2 million tonnes in 2023 and is anticipated to grow at a CAGR of 4.2% during the forecast period until 2034. China and India are the largest producers and suppliers of Peanut Oil across the globe. Peanut oil's high smoke point makes it a prime choice for frying, ensuring quick cooking and a crispy texture with minimal oil absorption. Peanut oil contains abundant vitamin E, which is an antioxidant. This oil’s stability, attributed to a higher saturated fat content, minimizes harmful byproducts during extended heat exposure compared to other vegetable oils.
Peanut oil is utilized across various industrial sectors. In the food industry, it serves as a popular cooking oil due to its high smoke point, making it suitable for deep frying and high-temperature cooking methods. Additionally, its distinctive flavour enhances the taste of dishes, particularly in Asian and African cuisines. Beyond culinary applications, peanut oil finds a place in the cosmetic industry, where it features prominently in skincare products like moisturizers and lotions for its emollient properties, which effectively soften and hydrate the skin. Peanut oil, known for its abundant emollient properties, aids in conditioning and hydrating the skin, resulting in a softer, smoother, and more luminous appearance. Hydrogenated peanut oil serves as a viscosity-enhancing agent, playing a significant role in the skincare sector. Its elevated fat content renders peanut oil an excellent base for massage oils. Moreover, it is utilized in hair care products to nourish and condition the hair, contributing to its overall health and lustre. In the pharmaceutical sector, peanut oil acts as a carrier oil in formulations for oral medications and injections, facilitating the solubilization and stabilization of active ingredients for efficient delivery. Furthermore, peanut oil finds application as an industrial lubricant, reducing friction and wear in machinery and equipment, thus extending their operational lifespan. Lastly, peanut oil serves as a renewable resource in the production of biodiesel, offering an eco-friendly alternative to traditional fossil fuels. Its conversion into biodiesel contributes to efforts aimed at reducing greenhouse gas emissions and mitigating environmental impact.
The escalating demand for processed foods is driving significant growth in the global food industry, particularly in both emerging and established markets. This surge is fuelled by several factors, including an increasing preference for healthy and functional foods among consumers. As manufacturers strive to meet this demand, they are continuously innovating and adopting novel processing technologies. Moreover, the expanding working population, coupled with busy lifestyles, further amplifies the demand for such products. This trend directly impacts the market for edible oils, with peanut oil emerging as a favoured choice due to its numerous benefits. In parallel, the utilization of peanut oil in the cosmetics and pharmaceutical sectors is experiencing a notable upsurge. Cosmetic manufacturers are capitalizing on its attributes, incorporating fortified peanut oil into various formulations to enhance their moisturizing and emulsifying properties. The global Peanut Oil market is likely to reach approximately 5 million tonnes in 2034.
Geographically, the Asia Pacific region is strategically positioned as the largest consumer of Peanut Oil and is anticipated to continue in the forecast period as well. Due to high population, in countries like China and India, the region presents a vast market for various food products, including peanut oil. Moreover, peanut oil holds a prominent place in Asian culinary traditions, being utilized extensively for frying, stir-frying, and flavour enhancement. Economic prosperity further propels consumption trends as rising incomes afford consumers greater spending power, particularly on food items perceived as healthier alternatives, such as peanut oil with its high unsaturated fat content and vitamin E levels. Additionally, the cultural significance of peanut oil in rituals, festivals, and traditional practices ingrains its consumption patterns in the region, solidifying its status as a staple ingredient in Asian cuisines. These intertwined factors position the Asia Pacific region strategically as the primary consumer hub for peanut oil, a trend poised to persist given ongoing demographic and economic dynamics.
Based on the end-user industry, the global Peanut Oil market is divided into Food, Cosmetics & Personal Care, Pharmaceuticals, and Others. Among these, Food is the major segment and held about 78% of the global Peanut Oil market in 2023 and is anticipated to prevail the same trend in the forthcoming years. The demand for peanut oil in the food sector had been experiencing a remarkable increase. This surge was primarily attributed to the notable growth within the food segment, fuelled by a shift in consumer preferences towards healthier, more nutritious, and functional food options.
Major players in the Global Peanut Oil market are Archer Daniels Midland Company, Cargill Incorporated, Olam International, Wilmar International Limited, CHS Inc., Hain Celestial Group Inc., Liberty Oil Mills Limited, Shandong Xingquan Oil Co. Ltd., Bunge Ltd., Luhua Group Co., Ltd., Lorenzati Group, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Peanut Oil which covers production, demand and supply of Peanut Oil market in the globe.
• To analyse and forecast the market size of Peanut Oil
• To classify and forecast Global Peanut Oil market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Peanut Oil market in the globe.
To extract data for Global Peanut Oil market, primary research surveys were conducted with Peanut Oil manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Peanut Oil market over the coming years.
ChemAnalyst calculated Peanut Oil demand across the globe by analyzing the volume of Peanut Oil consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Peanut Oil manufacturers and other stakeholders
• Organizations, forums and alliances related to Peanut Oil distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Peanut Oil manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Peanut Oil market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
3.2 million tonnes
Market size Volume in 2034
5 million tonnes
Growth Rate
CAGR of 4.2% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Food, Cosmetics & Personal Care, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Peanut Oil in terms of volume in 2023?
Ans:
The global market size of Peanut Oil has reached approximately 3.2 million tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Peanut Oil?
Ans:
The Food industry is the leading end-user industry of Peanut Oil globally.
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