Peanuts Market Worldwide Share, COVID-19 Pandemic Impact, Industry Growth, Key Players and CAGR of 5.6% During Foresight Period 2020 to 2023

Peanuts Market Worldwide Share, COVID-19 Pandemic Impact, Industry Growth, Key Players and CAGR of 5.6% During Foresight Period 2020 to 2023

“Peanuts Market”
Peanuts Market Information by Form (Raw, Roasted, blanched, Powder and others), Application (Direct consumption/Culinary purpose, Bakery and Confectionery, Peanut Butter and Spreads, Peanut Bars, Dairy Products, Oil Production and others), Distribution Channel

Market Highlights

With various nutritional advantages, such as Vitamin E, Vitamin B2, basic minerals, and others, peanuts are improved. They are also rich in antioxidants that lead to the health benefits of peanuts, thus fuelling the product’s market. In different sectors, peanuts are used and have several applications that help boost product demand.

The large use of peanuts in the food industry is known to be a significant driver of the demand for peanuts. For the extraction of oils and peanut flour, peanuts are used extensively. The production and high consumption of peanuts as snacks has also had a positive effect on the development of the industry. The high nutrient value of peanuts makes their consumption among health-conscious consumers more common. The positive development of the peanut industry has been supported by improvements in eating habits and the acceptance of a healthier lifestyle.

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In addition, the market for the substance for culinary purposes is tremendous due to increased understanding of the benefits of peanuts. Customers have also been found to be more drawn towards different varieties of available peanuts. In India, the most popular ways to use peanuts are in the form of oil and as a roasted snack. In addition to satisfying hunger pangs, peanut consumption also makes the skin look smoother, supple and younger, adding fuel to peanut consumption growth. The world economy can be influenced by COVID-19 in three major ways: by actively impacting production and demand, by developing a supply chain and undermining the industry, and by its financial effect on businesses and financial markets.

However, for peanut processing, tremendous investment is needed, which may impede the growth of the market. Peanuts are still identified as one of the key allergens and their intake is limited only to customers who do not have a peanut allergy.

Competitive Dashboard

The eminent players profiled in the Global Peanuts Market are Kraft Foods Inc. (U.S.), Archer Daniels Midland (U.S.), Olam International (Singapore), Hampton Farms, Inc (U.S.), Virginia Diner (U.S.), Star Snacks Co., LLC (U.S.),   Diamond Foods, Inc. (U.S.)

Segment Analysis

Based on shape, which consists of raw, fried, blanched, powder, and others, peanuts have been segmented. Due to its use in further manufacturing, Raw form is found to hold a large share.

Based on the application comprising Direct Consumption/Culinary Intent, Bakery and Confectionery, Peanut Butter and Spreads, Peanut Bars, Dairy Products and Oils, Others, peanuts were segmented. The application of peanuts in oil processing holds a substantial share, followed by the application in bakeries and confectioneries.

Based on the sales channel, which encompasses hypermarkets and pharmacies, convenience shops, grocery stores, e-commerce, and others, Peanuts has been segmented. Sales are considered to be high in hypermarkets and supermarkets.

Regional Overview

Global Peanuts Market is segmented into North America, Europe, APAC, and Rest of the World (RoW).

The Asia Pacific region, led by North America, has the biggest market share. Changing habits also contributed to customer acceptance of healthier diets, which is why Asia-Pacific is expected to produce high sales during the forecast period. Over the projected timeframe, rising demand for nut-based snacks, nut butter, and protein-rich foods will continue to fuel strong demand for peanuts worldwide and thereby promote higher exports.

The three countries providing ample prospects for peanut exporters in developed countries are the Netherlands, Germany and the United Kingdom. The European peanut market is expected to expand in the future due to improvements in consumer eating habits, as demand for plant-based protein instead of meat-based protein is gaining prominence. It is predicted that peanuts will become an essential source of unsaturated fats, fibre, protein, vitamins and minerals as people become more and more interested in healthier eating.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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