- 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
Frequently Asked Questions
The market is segmented based on Segmentation, By Source (Conventional Peanuts, Organic Peanuts, and Non-GMO Peanuts), Type (Refined and Unrefined), Application (Personal Care Products, Food, Pharmaceutical, and Others), Packaging (Glass Containers, Plastic Containers, Cartons, Plastic Pouches, and Others), Product (Cold Pressed and Hot Pressed), End User (Home, Restaurant, Food Manufacture, and Other) – Industry Trends and Forecast to 2031
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The Global Peanut Oil Market size was valued at USD 2.60 USD Billion in 2023.
The Global Peanut Oil Market is projected to grow at a CAGR of 4% during the forecast period of 2024 to 2031.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
