Global Peanut Oil Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2031

Peanut Oil Market Analysis

The peanut oil market has witnessed significant growth due to advancements in extraction methods and technological innovations. The latest method, cold-press extraction, retains more nutrients and flavor compared to traditional methods, leading to higher quality oil. This process, often combined with modern filtration techniques, enhances the oil's stability and shelf life.

In addition, the use of enzyme technology in oil extraction has gained traction, increasing oil yield while minimizing waste. This method not only improves efficiency but also supports sustainable practices in the industry, appealing to environmentally conscious consumers.

The growing popularity of peanut oil in culinary applications, particularly in Asian cuisine, has spurred market growth. It is favored for its high smoke point and health benefits, including arthritis, heart-healthy fats and natural antioxidants.

Furthermore, the rise in the health-conscious consumer segment has fueled demand for natural and organic peanut oil products. This trend is evident in the increasing availability of cold-pressed and non-GMO peanut oils in retail outlets.

Overall, the peanut oil market is poised for robust growth, driven by innovative extraction methods, increased consumer awareness of health benefits, and expanding applications in the food and cosmetic industries.

Peanut Oil Market Size

The global peanut oil market size was valued at USD 2.60 billion in 2023 and is projected to reach USD 3.55 billion by 2031, with a CAGR of 4.00% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, pricing analysis, brand share analysis, consumer survey, demography analysis, supply chain analysis, value chain analysis, raw material/consumables overview, vendor selection criteria, PESTLE Analysis, Porter Analysis, and regulatory framework.

Peanut Oil Market Trends

“Rise in Health-Conscious Consumer Demand”

A significant trend driving growth in the peanut oil market is the increasing consumer preference for healthier cooking oils. Peanut oil, known for its high smoke point and favorable fatty acid profile, is gaining popularity among health-conscious individuals. This trend is particularly evident in regions such as North America and Asia, where consumers are increasingly seeking oils that offer nutritional benefits without compromising flavor. For instance, brands such as LouAna and Planters have capitalized on this trend by marketing their peanut oils as heart-healthy alternatives, emphasizing their low saturated fat content. This shift towards healthier cooking options is expected to boost demand for peanut oil in the coming years.

Report Scope and Peanut Oil Market Segmentation  

Peanut Oil Market Definition

Peanut oil, derived from peanuts (Arachis hypogaea), is a popular cooking oil known for its mild flavor and high smoke point, making it ideal for frying and sautéing. It contains a balanced mix of monounsaturated and polyunsaturated fats, which can be beneficial for heart health. The oil is rich in vitamin E and antioxidants, contributing to its nutritional value. Commonly used in Asian cuisines, especially in stir-fries, peanut oil can also be used in salad dressings and marinades. Its versatility and health benefits have led to increased popularity in culinary applications and food processing industries.

Peanut Oil Market Dynamics

Drivers

• Increasing Vegan and Vegetarian Diets

The shift toward vegan and vegetarian diets significantly drives the peanut oil market. As consumers seek plant-based alternatives, peanut oil has gained popularity for its versatility and health benefits. It is commonly used in vegan recipes, such as dressings, marinades, and baked goods, where its mild flavor enhances the overall taste. For instance, in August 2023, Tata Consumer Products made a significant move into the premium cold-pressed oils market by launching its 'Tata Simply Better' brand. This new line features four variants: Virgin Cold Pressed Coconut Oil, Cold Pressed Groundnut Oil, Cold Pressed Mustard Oil, and Cold Pressed Sesame Oil. The oils are 100% pure and unrefined, appealing to health-conscious consumers seeking high-quality cooking oils for their culinary needs.

• Increasing Cosmetic and Personal Care Applications

Peanut oil's moisturizing and emollient properties make it a valuable ingredient in cosmetic and personal care products. It is commonly found in lotions, creams, and hair care products, providing hydration and nourishment. As the global beauty and personal care industry expands, the demand for natural and organic ingredients has surged, boosting the use of peanut oil in formulations. For instance, in October 2023, Bunge, a global leader in agribusiness, made headlines by entering a definitive asset purchase agreement with Fuji Oil New Orleans, LLC, through its joint venture Bunge Loders Croklaan with IOI Corporation Berhad. This acquisition involves a newly constructed, state-of-the-art port-based refinery located at the IMTT Avondale Terminal in Louisiana. The facility boasts multi-oil refining capabilities, which will significantly enhance Bunge's operational efficiency and expand its customer base.

Opportunities

• Expansion of E-commerce

The surge in e-commerce has significantly transformed the peanut oil market by enhancing consumer access and convenience. Online grocery platforms such as Amazon and Walmart have expanded their offerings, allowing consumers to easily find and purchase various peanut oil brands. For instance, companies such as Adams Peanut Butter have leveraged online sales to reach a broader audience, promoting organic and specialty peanut oils. This growth in e-commerce not only facilitates consumer choice but also drives sales, especially among health-conscious shoppers seeking quality oils. Consequently, this trend creates substantial opportunities for manufacturers and retailers to tap into new customer segments, boosting overall market growth.

• Growing Food Industry

The expanding food processing industry presents significant opportunities for the peanut oil market. With increasing demand for snacks, sauces, and fried foods, peanut oil is becoming a preferred ingredient due to its neutral flavor and high smoke point. For instance, in November 2022, Chemsta made significant strides in the edible oil sector by constructing a 200 TPD refinery for the Luhua Group at its Xiangyang Branch. The facility began operations, producing high-quality rapeseed and peanut oils. Chemsta's initiative reflects its commitment to enhancing production capabilities, having established more than ten plants that cover various oil processing methods, including pressing, solvent extraction, refining, and dewaxing, to meet market demands.

Restraints/Challenges

• Competition from Other Oils

The peanut oil market faces significant competition from other vegetable oils, notably palm, soybean, and sunflower oils. These alternatives are often cheaper and more widely available, making them attractive options for consumers and food manufacturers. For instance, palm oil's low cost and versatility in cooking and food processing have led to its widespread adoption, impacting peanut oil's market share. In addition, the growing popularity of health-focused oils, such as olive oil, has intensified competition. As consumers become more price-sensitive and health-conscious, the demand for these alternatives could further hinder peanut oil's growth in the market, leading to increased challenges for producers.   

• Allergy Concerns among Consumer

Peanut oil market growth is significantly hindered by allergy concerns among consumers. With approximately 1.6 million people in the U.S. alone affected by peanut allergies, the fear of severe allergic reactions limits the consumer base. Many individuals avoid peanut oil entirely due to the potential for cross-contamination during processing and food preparation. For instance, restaurants and food manufacturers often face challenges in assuring customers that their products are peanut-free, leading to decreased demand. This heightened awareness has prompted a shift toward alternative oils such as olive and canola oil, which are perceived as safer options, further restricting the market for peanut oil.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Peanut Oil Market Scope

The market is segmented on the basis of source, type, product, end user, packaging and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Source

• Conventional Peanuts
• Organic Peanuts
• Non-GMO Peanuts

Type

• Refined
• Unrefined

Application

• Personal Care Products
• Food
• Pharmaceutical
• Others

 Packaging

• Glass Containers
• Plastic Containers
• Cartons
• Plastic Pouches
• Others

Product

• Cold Pressed
• Hot Pressed

 End User

• Home
• Restaurant
• Food Manufacture
• Other

Peanut Oil Market Regional Analysis

The market is analysed and market size insights and trends are provided by country, source, type, product, end user, packaging and application as referenced above.

The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)

North America market is expected to account for the largest revenue share in the global market over the forecast period due to the increasing adoption of peanut oil in the cosmetic industry and the presence of major operating players in the U.S. and Canada.

Asia-Pacific market is expected to grow at a faster rate. Growing population, rising disposable income, increased presence of manufacturers, and increased awareness among individuals about the health benefits of peanut oil usage are the factors driving the growth of the peanut oil market in the region. Furthermore, rising use of peanut oil in the cosmetic sector is a factor driving growth in the Asia-Pacific market.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Peanut Oil Market Share

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Peanut Oil Market Leaders Operating in the Market Are:

• Georgia-Pacific Chemicals LLC (U.S.)
• Kraton Corporation (Netherlands)
• Eagle Imports (U.S.)
• PAG KIMYA SAN. TIC. LTD. STI. (Turkey)
• GrantChem, Inc. (U.S.)
• LLC PK "XimProm" (Russia)
• AKAY TIC SAN KOLL STI - YUKSEL AKAYLAR (Turkey)
• Fujian Qina Trading Co. Ltd. (China)
• IBRAHIM WALI MOHAMMAD & CO. (Pakistan)
• G.C. RUTTEMAN & Co. B.V. (Netherlands)
• MALPLAST INDUSTRIES LIMITED (Kenya)
• Akay Ticaret Ve Sanayi Koll.Sti. (Turkey)
• Matole Ltd (Hungary)
• Finis Vegetable Oil B.V. (Netherlands)
• Bettcher Industries, Inc. (U.S.)
• Anko Food Machine Co. Ltd. (Taiwan)
• Heat and Control, Inc. (U.S.)
• BAADER (Germany)
• Dover Corporation (U.S.)

Latest Developments in Peanut Oil Market

• In August 2023, Tata Consumer Products made a significant move into the premium cold-pressed oils market by launching its 'Tata Simply Better' brand. This new line features four variants: Virgin Cold Pressed Coconut Oil, Cold Pressed Groundnut Oil, Cold Pressed Mustard Oil, and Cold Pressed Sesame Oil. The oils are 100% pure and unrefined, appealing to health-conscious consumers seeking high-quality cooking oils for their culinary needs
• In October 2023, Bunge, a global leader in agribusiness, made headlines by entering a definitive asset purchase agreement with Fuji Oil New Orleans, LLC, through its joint venture Bunge Loders Croklaan with IOI Corporation Berhad. This acquisition involves a newly constructed, state-of-the-art port-based refinery located at the IMTT Avondale Terminal in Louisiana. The facility boasts multi-oil refining capabilities, which will significantly enhance Bunge's operational efficiency and expand its customer base
• In 2022, Shree Ram Proteins Ltd announced its intention to diversify its business by constructing a new oil refinery, highlighting its growth strategy. The company has ordered a cutting-edge refining plant to support this new venture. By the end of January 2023, it plans to introduce Rape Seed Oil, Groundnut Oil, and Cottonseed Oil, focusing on the domestic market to meet rising consumer demand and expand its product offerings
• In November 2022, Chemsta made significant strides in the edible oil sector by constructing a 200 TPD refinery for the Luhua Group at its Xiangyang Branch. The facility began operations, producing high-quality rapeseed and peanut oils. Chemsta's initiative reflects its commitment to enhancing production capabilities, having established more than ten plants that cover various oil processing methods, including pressing, solvent extraction, refining, and dewaxing, to meet market demands
• In June 2022, Gulab Oils, a leading FMCG company in Gujarat, undertook a major revamp of its entire range of edible oils as part of its ambitious nationwide expansion strategy. With a robust turnover of USD 2.5 billion for FY 2021-2022, the company aims to extend its reach to ten states by 2024. To cater to the increasing consumer demand, a new production unit is currently under construction, poised to enhance its daily capacity from 100 to 1,000 tons
• In April 2022, Gemini Edibles & Fats India Ltd (GEF India) expanded its popular Freedom Healthy Cooking Oil range with the introduction of a new 5-liter jar of Freedom Groundnut Oil. This product is celebrated for its nutty flavor and health benefits, making it a favored choice for traditional pickle-making in regions such as Telangana, Andhra Pradesh, and Karnataka. The launch aims to cater to growing consumer preferences for high-quality cooking oils
• In November 2021, Cargill made a strategic move in the Indian edible oil market by acquiring a refinery located in Nellore, Andhra Pradesh, for USD 35 million. This investment is focused on upgrading the facility to significantly enhance its edible oil production capacity. The acquisition strengthens Cargill's footprint in southern India and bolsters its supply chain, positioning the company to better meet the rising demand from consumers in the region

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