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Global Peanut Meal Market Size (2024 - 2029)

The peanut meal market is projected to expand steadily over the forecast period, driven by the rising demand for meat and aquaculture products. This growth is further supported by increased awareness of quality meat and milk products, as well as heightened livestock production. As a by-product of peanut production, the extensive cultivation and consumption of peanuts contribute to the market's expansion, enhancing the overall market size.

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Market Size of Global Peanut Meal Industry

Peanut Meal Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 90.53 Billion
Market Size (2029) USD 107.52 Billion
CAGR (2024 - 2029) 3.50 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Peanut Meal Market Major Players

*Disclaimer: Major Players sorted in no particular order

Peanut Meal Market Analysis

The Global Peanut Meal Market size is estimated at USD 90.53 billion in 2024, and is expected to reach USD 107.52 billion by 2029, at a CAGR of 3.5% during the forecast period (2024-2029).

 In developing countries where meat is scarce and expensive, peanut proteins serve as a valuable substitute for animal proteins. The Protein Digestibility Corrected Amino Acid Score (PDCAAS) indicates that peanut proteins are nutritionally comparable to meat and eggs. The peanut meal market is anticipated to grow due to several factors, including an increase in global meat consumption, rising demand for animal protein, growing livestock production, and an increasing focus on animal health and nutrition.

The global consumption of meat has been steadily increasing, driven by factors such as population growth, urbanization, demographic shifts, rising incomes, price fluctuations, and environmental and health considerations. These factors contribute to the growing demand for animal protein sources, including meat, fish, and eggs, which in turn boosts the demand for peanut meal. According to the Food and Agriculture Organization, in 2023, poultry meat was the most consumed type of meat globally, with 139.7 million metric tons consumed worldwide. Pork ranked second with 122.0 million metric tons, followed by beef and veal at 71.9 million metric tons.

The increasing livestock production drives demand for high-protein feed sources such as peanut meal. Peanut meal, containing 48-50% vegetable protein, is produced through solvent extraction under controlled conditions. The process involves drying, toasting, and milling the extracted flakes into a fine material. This highly palatable feed ingredient is used in rations for beef cattle, poultry, and aquaculture, providing protein, minerals, and energy. According to the Food and Agriculture Organization, global sheep meat production rose from 16.2 million metric tons in 2022 to 16.65 million metric tons in 2023. This growth in livestock production has increased demand for compound feed, which is projected to boost peanut meal sales in the market.

Peanut Meal Industry Segmentation

Peanut meal is the product that remains after oil extraction from peanuts. In some countries, it is called groundnut meal. It is a highly palatable source of nutrition in animal feed for beef cattle, poultry, and aquaculture rations. Peanut meal is an excellent source of protein, minerals, and energy. The global peanut meal market is segmented by Animal Type (Ruminants, Poultry, Swine, Aquaculture, and Other Animal Types), and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers the market sizes and forecasts in value (USD million) for all the above segments.

Animal Type
Ruminants
Poultry
Swine
Aquaculture
Other Animal Types
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Africa
South Africa
Rest of Africa
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Global Peanut Meal Market Size Summary

The peanut meal market is poised for steady growth, driven primarily by the increasing demand for meat and aquaculture products. This demand is fueled by a rising awareness of quality meat and milk products, alongside a surge in livestock production. As a by-product of peanut production, peanut meal benefits from the widespread cultivation and consumption of peanuts, further propelling market expansion. Despite global economic challenges, the meat market remains resilient, with significant growth anticipated in the Asia-Pacific and South American regions due to shifting dietary patterns, urbanization, and economic development. The growing popularity of seafood, recognized for its health benefits, also contributes to the rising demand for animal feed, including peanut meal, as the global population continues to increase.

In North America, the peanut meal market holds a significant share, supported by high disposable incomes and a strong demand for high-protein diets. This has led to increased meat production, particularly in the United States, Mexico, and Canada, where the use of peanut meal as feed is on the rise. The market is characterized by a fragmented landscape with numerous small regional players, while top international companies hold a limited share. These leading companies are actively expanding their presence through acquisitions and mergers, aiming to enhance production capacity and diversify their product lines. Notable players like Wilmar International have invested in new plants to capitalize on regional opportunities, such as addressing swine fever issues in China.

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Global Peanut Meal Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase In Global Meat Consumption and Demand for Animal Protein

      2. 1.2.2 Increasing Livestock Production

      3. 1.2.3 Increasing Focus on Animal Health and Nutrition

    3. 1.3 Market Restraints

      1. 1.3.1 Competition from Alternative Feed Sources

      2. 1.3.2 Changing Raw Material Prices

    4. 1.4 Porte'rs Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Animal Type

      1. 2.1.1 Ruminants

      2. 2.1.2 Poultry

      3. 2.1.3 Swine

      4. 2.1.4 Aquaculture

      5. 2.1.5 Other Animal Types

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

        4. 2.2.1.4 Rest of North America

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Russia

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 India

        2. 2.2.3.2 China

        3. 2.2.3.3 Japan

        4. 2.2.3.4 Rest of Asia-Pacific

      4. 2.2.4 South America

        1. 2.2.4.1 Brazil

        2. 2.2.4.2 Argentina

        3. 2.2.4.3 Rest of South America

      5. 2.2.5 Africa

        1. 2.2.5.1 South Africa

        2. 2.2.5.2 Rest of Africa

Global Peanut Meal Market Size FAQs

The Global Peanut Meal Market size is expected to reach USD 90.53 billion in 2024 and grow at a CAGR of 3.5% to reach USD 107.52 billion by 2029.

In 2024, the Global Peanut Meal Market size is expected to reach USD 90.53 billion.

Global Peanut Meal Market Report Snapshots

Peanut Meal Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)