Peanut Oil Market

Peanut Oil Market Study by Organic and Conventional for Food Processing Industry, Foodservice Industry, and Retail/Household from 2024 to 2034

Analysis of Peanut Oil Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Peanut Oil Market Outlook (2024 to 2034)

The global peanut oil market is calculated at US$ 10.55 billion in 2024, as per the analysis published by Fact.MR. Worldwide sales of peanut oil are forecast to rise at a CAGR of 4.1% and reach US$ 15.77 billion by the end of 2034.

Dietary habits and preferences of the majority of consumers are projected to positively impact demand for peanut oil. Growing health consciousness and preference for organic and natural products are estimated to increase demand for peanut oil as one of the key ingredients in numerous food products. Moreover, increasing consumer awareness about the health benefits of peanut oil, including its high content of vitamin E, antioxidants, and monounsaturated fats is forecast to lead to its growing consumption.

Economic conditions, including rising disposable income, income levels, and overall economic growth, are anticipated to positively influence consumer purchasing power, which subsequently increases demand for peanut oil as a natural ingredient.

  • The North American market is set to account for 20.6% share of global revenue by the end of 2034.
  • The use of peanut oil in the food processing industry is projected to increase at a 3.9% CAGR and reach a market value of US$ 5.65 billion by 2034-end.
  • China is anticipated to account for 74.2% share of the East Asian market by the end of the assessment period (2024–2024).

The food industry, including food manufacturers, fast-food chains, and restaurants, plays a vital role in increasing demand for peanut oil. The rising use of peanut oil in numerous processed foods, snack foods, and cuisines is estimated to positively impact market dynamics. Cooking traditions and cultural preferences in numerous regions play a significant role in increasing sales of peanut oil. For instance, peanut oil is widely used in African and Asian cuisines and can experience increased demand in the coming 10 years.

Numerous manufacturers of cosmetic products utilize fortified peanut oil as an emollient in hair care and skincare products. Producers of cosmetic products use flavor-infused plant-based oil to retain nutrients to manufacture appealing serums, soaps, and other products.

Report Attributes Details
Peanut Oil Market Size (2024E) US$ 10.55 billion
Forecasted Market Value (2034F) US$ 15.77 Billion
Global Market Growth Rate (2024 to 2034) 4.1% CAGR
East Asia Market Share (2034F) 25.7%
Japan Market Growth Rate (2024 to 2034) 5.9% CAGR
Market Share of Conventional Peanut Oil (2034F) 90%
Key Companies Profiled
  • Cargill, Incorporated
  • CHS Inc.
  • AAK Kamani Pvt. Ltd.
  • Golden Peanut and Tree Nuts
  • Archer Daniels Midland Company
  • Patanjali Ayurved Limited Incorporated
  • Saraswathi Mills
  • Liberty Oil Mills Ltd.
  • Bunge Limited
  • Mother Dairy Fruits & Vegetable Pvt. Ltd.
  • Adani Wilmar International
  • Archer Daniels Midland Company
  • Hain Celestial Group, Inc.

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What is Responsible for Steady Peanut Oil Market Size Expansion?

“Increasing Demand for Processed Food across the World”

The food industry is one of the fastest-growing sectors in the world. It is projected to expand into emerging markets while strengthening its presence in established markets. Increasing demand for functional and healthy food is forecast to lead to the innovation and adoption of novel processing technologies. Rising disposable income owing to economic growth, particularly in emerging markets, is estimated to increase sales of processed and convenience foods.

Hectic lifestyles and an increasing population of the working class are set to contribute to the expansion of the processed food market, which is set to directly impact demand for edible oils. Therefore, an increase in the demand for peanut oil is encountered due to its benefits.

“Growing Count of Quick Service Restaurants across Regions”

Different types of chain restaurants, including quick service restaurants (QSR) and cafes are expanding all across the world. The food service sector is projected to contribute significantly to the consumption of peanut oil. Noteworthy growth in the count of hotels and QSR in multiple regions is contributing to the demand for peanut oil.

Further, the high smoke point of the oil is projected to be one of the prominent factors contributing to its popularity. It is used for sauntering, grilling, and deep frying. Growing tourism is contributing to the expansion of the food service sector, which is estimated to increase demand for peanut oil.

What Challenges are Peanut Oil Suppliers Working On?

“Competitive Prices of Alternative Oils Limiting Consumption of Peanut Oil”

The comparatively economical cost of alternative oil options, such as palm oil, sunflower oil, and soybean oil, is anticipated to adversely impact demand for peanut oil. Constant fluctuations in the cost of these options are forecasted to stimulate individuals to switch oil owing to cost considerations.

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What is the Contribution of Startups to Peanut Oil Market Growth?

“Constant Efforts toward Innovations in Production Techniques”

Startups need to invest in innovations in oil extraction techniques, product formulations, and packaging techniques, which are estimated to positively influence peanut oil market trends. These advancements are expected to influence the marketability, shelf life, and quality of peanut oil, therefore impacting revenue share for new players.

Country-wise Insights

According to Fact.MR research, East Asia is projected to account for 25.7% share of East Asia by 2034. The rising consumption of peanut oil in East Asia is attributed to its ability to impart a pleasant aroma and offer a neutral taste. It assists in multiplying the taste of prepared food.

Why are Peanut Oil Suppliers Investing in the United States?

“Growing Inclination toward Vegan and Vegetarian Diets”

Attribute United States
Market Value (2024E) US$ 1.62 Billion
Growth Rate (2024 to 2034) 3.9% CAGR
Projected Value (2034F) US$ 2.39 Billion

The United States is anticipated to contribute 73.5% share of the North American market by the end of 2034. Peanut oil is extracted from peanuts, which are plant-based, therefore making it more suitable for vegan and vegetarian diets. In recent years, there has been a noteworthy increase in the vegan population, which is inclined to consume plant-based food products. The natural origin of peanut oil is anticipated to make it more popular among the vegan population in the country.

What’s Projected to Complement Market Growth in China?

“Growing Production of Peanut Oil Increasing Profit Shares of Market Players”

Attribute China
Market Value (2024E) US$ 1.93 Billion
Growth Rate (2024 to 2034) 4.5% CAGR
Projected Value (2034F) US$ 3 Billion

China is anticipated to account for 74.2% share of the East Asian market by the end of 2034. This prominence in the country is attributed to the rising health awareness among more individuals about the benefits of peanut oil. Therefore, there are lucrative opportunities available for the suppliers of peanut oil, which are further forecasted to contribute to revenue streams in the coming 10 years.

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Category-wise Insights

Conventional peanut oil generally undergoes standardized refining processes, which are estimated to result in a consistent product with improved characteristics, including shelf life, color, and flavor, according to the study published by Fact.MR, a market research and competitive intelligence provider. This reliability and consistency of conventional peanut oil are projected to make it more suitable for food manufacturers, who are looking for uniformity in their cooking oil.

Why Does Conventional Peanut Oil Still Account for a Larger Market Share?

“Affordability and Familiarity of Conventional Oil”

Attribute Conventional Peanut Oil
Segment Value (2024E) US$ 9.5 Billion
Growth Rate (2024 to 2034) 4.1% CAGR
Projected Value (2034F) US$ 14.2 Billion

Conventional peanut oil is forecast to account for 90% of the global peanut oil market share by the end of 2034. Based on nature, conventional peanut oil is still consumed on a larger scale compared to organic counterparts. Conventional peanut oil has been used widely in cooking for decades. More people are aware of this oil in various cuisines, particularly in regions where peanuts are grown. Its high smoke point and neutral flavor make it more suitable for numerous cooking methods, for instance, baking, sauteing, and frying, therefore enhancing its versatility in the kitchen.

Which End-use Industry Uses Peanut Oil on a Huge Scale?

“Allergen Awareness Driving Adoption of Peanut Oil as Versatile and Safe Ingredient in Food Processing”

Attribute Food Processing Industry
Segment Value (2024E) US$ 3.84 Billion
Growth Rate (2024 to 2034) 3.9% CAGR
Projected Value (2034F) US$ 5.65 Billion

The food processing industry is set to hold a 35.8% share of global market revenue by the end of 2034. Peanut oil is projected to become a versatile and safe ingredient for people with allergies. There is an increasing awareness about the use of peanut oil as an alternative to oil extracted from allergenic sources, including tree nuts or soybeans.

Competitive Landscape

Prominent manufacturers of peanut oil are actively involved in innovation, expansion, and R&D processes to match consumer requirements. Providers of peanut oil strive to improve their innovative and operational capacities. These initiatives are projected to help maintain the supply chain system and offer quality products.

Key players in the peanut oil industry include Cargill, Incorporated, CHS Inc., AAK Kamani Pvt. Ltd., Golden Peanut and Tree Nuts, Archer Daniels Midland Company, Patanjali Ayurved Limited Incorporated, Saraswathi Mills, Liberty Oil Mills Ltd., Bunge Limited, Mother Dairy Fruits & Vegetable Pvt. Ltd., Adani Wilmar International, Archer Daniels Midland Company, and Hain Celestial Group, Inc.

Segmentation of Peanut Oil Market Research

  • By Nature :

    • Organic
    • Conventional
  • By End Use :

    • Food Processing Industry
    • Foodservice Industry
    • Retail/Household
  • By Distribution Channel :

    • Business to Business
    • Business to Consumer
      • Hypermarkets/Supermarkets
      • Convenience Stores
      • Online Retail
      • Others
  • By Region :

    • North America
    • Europe
    • East Asia
    • Latin America
    • Middle East & Africa
    • South Asia & Oceania

- FAQs -

How big is the peanut oil market size in 2024?

The global peanut oil market is set to reach US$ 10.55 billion in 2024.

What is the forecasted demand for peanut oil by 2034?

Worldwide demand for peanut oil is set to reach a market valuation of US$ 15.77 billion by 2034.

What are the sales projections for peanut oil from 2024 to 2034?

Sales of peanut oil are forecasted to rise at a CAGR of 4.1% from 2024 to 2034.

What is the anticipated contribution of East Asia to global market revenue?

East Asia is evaluated to hold 25.7% share of global market revenue by the end of 2034.

At what rate is the demand for peanut oil projected to increase in Japan?

Demand for peanut oil in Japan is approximated to increase at a CAGR of 5.9% from 2024 to 2034.

What is the outlook for peanut oil in the food processing industry?

Sales of peanut oil in the food processing industry are projected to rise at a CAGR of 3.9% and reach US$ 5.65 billion by 2034.

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