Market Size of Peanut Oil Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.05 Billion |
| Market Size (2029) | USD 12.38 Billion |
| CAGR (2024 - 2029) | 2.30 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Peanut Oil Market Analysis
The Peanut Oil Market size is estimated at USD 11.05 billion in 2024, and is expected to reach USD 12.38 billion by 2029, growing at a CAGR of 2.30% during the forecast period (2024-2029).
- With a high nutritional profile and people looking for immune-boosting ingredients, there is an increase in retail demand for peanut oil. According to the study published in the International Union Of Pure And Applied Chemistry journal by Beare-Rogers, peanut oil is naturally low in saturated fats, cholesterol-free, and trans fats.
- Oleic acid, a monounsaturated fatty acid (MUFA), accounts for 52% of its composition; linoleic acid, a polyunsaturated fatty acid (PUFA), accounts for 32%. Additionally, the oil is a source of naturally occurring substances like antioxidants, vitamin E, phytosterols, squalene, and p-coumaric acid, all of which help preserve good health. Due to its high oleic acid content, peanut oil has a wide range of advantageous biological benefits.
- Peanut oil has a wide range of applications, not confined to the food industry but in many others, including the cosmetic and personal care industry. For instance, it is used externally for application on the skin to moisturize dry skin and for skin conditions like eczema, making it a part of many personal care products. It is also a good source of vitamin E and possesses antioxidant properties.
- Furthermore, like all processed vegetable oils, refined peanut oil is refined, bleached, and deodorized. By going through this procedure, the oil loses its allergic protein component and becomes nonallergenic. According to the Peanut institute, the primary form of peanut oil used in international fast-food franchises is refined. Refined peanut oil is a flavorful cooking oil devoid of trans fats and allergens and very stable. Due to its high smoke point and extremely low saturated fat content, refined peanut oil is a favorite oil for frying.
- According to the "Food Allergen Labeling and Consumer Protection Act of 2004," section 203, subsection 7, part C.c.1.qq.2.1, under the Amendments, highly refined oils are exempt from the definition of a serious food allergen, so no petition is required, thus increasing the utilization of refined peanut oil across the globe.
Peanut Oil Industry Segmentation
Peanut oil also referred to as groundnut oil or Arachis oil, is a vegetable-derived oil made from the edible seeds of the peanut plant.
The peanut oil market is segmented into product type, application ad geography. By product, the market is segmented into refined and unrefined peanut oil. By application of the oil the market is segmented into personal care products, food, pharmaceuticals, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, Middle East, and Africa.
For each segment, the market sizing and forecasts have been done on the basis of value in USD million.
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| Refined | |
| Unrefined |
| Application | |
| Personal Care | |
| Food | |
| Pharmaceuticals | |
| Other Applications |
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Peanut Oil Market Size Summary
The peanut oil market is experiencing a steady growth trajectory, driven by its high nutritional profile and increasing consumer preference for natural and organic products. Peanut oil is valued for its low saturated fat content, cholesterol-free nature, and presence of beneficial compounds like oleic acid, linoleic acid, and vitamin E, which contribute to its health benefits. Its applications extend beyond the food industry into cosmetics and personal care, where it is used for its moisturizing and antioxidant properties. The refining process of peanut oil enhances its stability and makes it nonallergenic, further boosting its popularity, especially in the food sector where it is favored for frying due to its high smoke point and neutral taste. The market is also benefiting from the growing trend of modernization and the shift towards natural ingredients in daily life, which is increasing the demand for peanut oil-based products.
The Asia-Pacific region dominates the global peanut oil market, with countries like China and India being significant consumers due to the oil's culinary advantages and health benefits. The region's preference for peanut oil in cooking, coupled with its heart-healthy properties, has solidified its leading position globally. The market is highly competitive, with major players like Archer Daniels Midland, Cargill Incorporated, and Olam International focusing on product innovation and strategic mergers and acquisitions to maintain their market dominance. These companies are expanding their operations and refining capabilities to meet the growing consumer demand for high-quality peanut oil products. The ongoing developments in the industry, such as new oil refineries and diversification into different oil types, are further supporting the market's growth and expansion.
Peanut Oil Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Refined
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2.1.2 Unrefined
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2.2 Application
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2.2.1 Personal Care
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2.2.2 Food
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2.2.3 Pharmaceuticals
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Spain
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2.3.2.2 United Kingdom
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2.3.2.3 Germany
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of Middle-East and Africa
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Peanut Oil Market Size FAQs
How big is the Peanut Oil Market?
The Peanut Oil Market size is expected to reach USD 11.05 billion in 2024 and grow at a CAGR of 2.30% to reach USD 12.38 billion by 2029.
What is the current Peanut Oil Market size?
In 2024, the Peanut Oil Market size is expected to reach USD 11.05 billion.
