Selbyville, Delaware, Nov. 27, 2024 (GLOBE NEWSWIRE) --
The peanut oil market valuation is predicted to exceed USD 14.5 billion by 2032, reported in a research analysis by Global Market Insights Inc.
This growth is backed by growing consumer awareness of the health benefits of peanut oil, such as its ability to promote heart health and manage cholesterol levels. Health-conscious consumers are favoring crude peanut oils. The Asia-Pacific region is seeing the most notable growth, as peanut oil is a cooking staple in this area.
A key factor in the peanut oil market's expansion is the growing preference for oils with high monounsaturated fat content and a balanced omega-6 to omega-3 ratio. The rising demand for natural and organic products, coupled with the boom in the food service industry—especially in Asian cuisine—is significantly boosting the market.
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The peanut oil market from the refined peanut oil segment stood at USD 6 billion in 2023 and is projected to grow at a 3.5% CAGR from 2024 to 2032. Its popularity stems from its high smoke point and neutral flavor, making it ideal for cooking, frying, and food processing. The refining process also improves its stability and shelf life, which is appealing to both manufacturers and consumers seeking durable, high-quality oils.
The food industry accounted for USD 6.5 billion of the market in 2023 and is expected to grow at a 3.4% CAGR through 2032. Peanut oil's extensive use in cooking and frying, particularly in Asian, African, and Middle Eastern cuisines, drives demand in this segment. Its high smoke point makes it perfect for deep frying, increasing its popularity in restaurants and food service outlets. Additionally, the growing trend toward convenience foods and ready-to-eat products has further fueled its usage in processed food production.
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China peanut oil market was valued at USD 2.2 billion in 2023 and is expected to grow at a 3.1% CAGR by 2032. China benefits from its robust agricultural infrastructure and favorable conditions for peanut cultivation. The necessity for peanut oil in Chinese cuisine, especially for frying and stir-frying, strengthens its market leadership. Moreover, rising disposable incomes and a shift toward healthier cooking oils further enhance domestic consumption.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021-2032
Chapter 3 Peanut Oil Market Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing health consciousness among consumers
3.6.1.2 Rising demand for natural and organic food products
3.6.1.3 Growing usage in the cosmetics and personal care industry
3.6.1.4 Expansion of the food service sector and restaurants
3.6.2 Industry pitfalls & challenges
3.6.2.1 Price volatility of raw peanuts
3.6.2.2 Competition from alternative edible oils
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
