Global Peanuts Market Information- by Form (Raw, Roasted, blanched, Powder, others), by Application (Direct consumption/Culinary purpose, Bakery and Confectionery, Peanut Butter and Spreads, Peanut Bars, Dairy Products, Oil Production, others), by Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, E-commerce, others) and by Region Forecast to 2023
Global Peanuts Market is projected to grow at the CAGR of 5.6%. Peanuts contain polyphenols, polyunsaturated and monounsaturated fats, phytosterols and dietary fiber which makes it consumption popularly amongst the population of health conscious consumers. Changing lifestyle and adoption of the natural food consumption trend has influenced the high sale of peanuts in the food industries. Increase in health awareness is having a positive impact on the peanuts market based on several health benefits of peanut consumption. Rising demands for health oil is anticipated to further influence the positive growth of Peanuts as a potential raw material for oil extraction across the globe.
Heath Benefits of peanuts and high anti-oxidant content imparting health benefits is estimated to spur its market growth over the given forecast period. Adoption healthy food consumption trends in the developed countries is having a positive impact on the growth of peanuts market. Peanuts helps in improving the immune system of the body and helps to reduce instances serious illnesses which is playing a significant role in its market growth. Key Players are following strategies of merger and acquisition of small players due to high demand of the product. India and China are amongst the major key players exporting peanuts to various countries of other regions.
The major key players in Peanuts market are -Olam International (Singapore), Kraft Foods Inc. (U.S.), Hampton Farms, Inc (U.S.), Star Snacks Co., LLC (U.S.), Virginia Diner (U.S.), Archer Daniels Midland (U.S.), Diamond Foods, Inc. (U.S.). Peanuts manufacturers across various regions follow the strategy of improving their existing product as well as increasing the manufacture of organic peanuts to add more value to their products to expand their business. This is one of the major factors due to which the demands of Peanuts is experiencing a surge. India is amongst the dominating countries holding a major share in peanuts market and exports the product in various other countries which include Indonesia, Vietnam, Malaysia, Thailand, Philippines and others.
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The increasing sale of peanuts is driven by changing consumer’s preference and adoption of healthy food consumption trend. Wide application of peanuts across bakery and confectionery industries and increased production of peanut oil is increasing its sale in the market. The health benefits obtained from peanuts backed up by its high anti-oxidant content is also supporting its sale amongst the consumers. Increasing consumption of healthy oil helping in reducing the cholesterol content has a positive impact on the peanuts market as a potential raw material. The consumption of Peanuts is found to be high in and Asia-Pacific and is evaluated to increase at a positive growth rate in various countries of Europe and North America.
Globally, the peanuts market share is estimated to escalate at a higher growth rate due its healthy fatty acid content that helps in managing the body weight and reducing excess fat of the body. The high consumption of peanuts is backed up by it property to lower cholesterol level in the body and further decreasing the chances of heart diseases. The rising demand for high vitamins and mineral containing products in the market is supporting its sale on a global level. Rapid increase in the vegan population is anticipated to fuel up the market share of peanuts globally.
All these factors contribute to the calculated CAGR of 5.6% of Peanuts market during 2017-2023.
Consumption of Raw form of Peanuts is growing at significant rate based on its versatile application. Raw peanuts are further processed to obtain various other industrially important by-products of peanuts. In addition, the application of peanuts is experiencing a rapid increase in oil production followed by its application in bakery and confectionery industries.
The sale of Peanuts through supermarkets and hypermarkets is experiencing a surge backed up by consumer’s preference and convenience. However, the sale through E-commerce will witness a high growth rate in the given forecast period supported by the increase in use and adoption of new technologies by consumers.
The global Peanuts Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific has the major market share followed by North America. Based on the high nutritional value, peanuts have gained popularity in various other regions. However, the as one of the major listed allergens, and availability of other healthy substitutes might restrain its market growth. Netherlands, China, Vietnam, Indonesia and Germany are considered the major importers of peanuts.
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The Global Peanuts Market is segmented on the basis of Form, Application, Distribution Channel and Region. Based on the form, raw form of peanuts is found to be escalating at a high CAGR. Amongst the various applications of the product, oil production is calculated to hold a major share followed by bakery and confectionery. Amongst the distribution channel, Hypermarket and Supermarkets is anticipated to hold a large share based on consumer’s convenience.
This market research report further provides an insight on various levels of analysis such as industry analysis, market share analysis as well as leading market players and their profiles. This report also helps in studying target consumer segments by providing views on emerging and high-growth segments and market size. Together the market data comprise and discuss basic valuations on the competitive scenarios and strategies of the global peanuts market including high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides views of historical market values as well as pricing and cost analysis of the same.
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