Processed Peanut Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.25 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Processed Peanut Market Analysis
The processed Peanut Market is projected to register a CAGR of 3.25% during the forecast period, 2022-2027.
The market is majorly driven by the growing awareness of the health benefits of peanuts as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals, and increasingly getting their popularity in the paleo diet. Additionally, the growing vegan population across the world is also supporting the growth of the market as peanuts are broadly considered a good alternative for fish and eggs for fulfilling protein, calcium, and vitamin B12 daily requirement. In recent decades, peanuts have gained an excellent reputation for being a health nut, as most of the fats they contain are known as 'good fats.' These kinds of fats help lower cholesterol levels in the body. Peanuts help prevent heart disease by lowering cholesterol levels. They can also prevent the formation of small blood clots and reduce the risk of having a heart attack or stroke.
Moreover, another advantage of peanuts is that they are more reasonably priced than many other types of nuts. Due to cost-benefit considerations and concerns of running out of things, the majority of consumers opt for bulk purchasing peanuts. Thus, large basket sizes remained a significant reason for the substantial sales of peanuts across all regions. In the medium term, the market is anticipated to witness the expansion of flavored peanut offerings by leading brands. For example, in June 2022, Planters, a Hormel Foods Corp. brand, launched Sweet & Spicy Dry Roasted Peanuts, which are now available at convenience stores.
Processed Peanut Market Trends
This section covers the major market trends shaping the Processed Peanut Market according to our research experts:
Rising Demand For Convenient And Healthy Snacking
The demand for convenient and healthy on-the-go snacks is driving the consumption of peanuts globally. Peanuts have become a popular and healthy snacking option for consumers owing to the numerous health benefits associated with nut-based snacks. Additionally, manufacturers are also offering portable, and versatile packing styles to enhance convenience. For instance, PLANTERS offers sweet & spicy peanuts in a 16-ounce bottle at grocery stores and a 1.75-ounce size bottle for on-the-go snackers in convenience stores across India. Due to their busy lifestyles, working people, teenagers, people who live in dorms, and bachelors especially prefer on-the-go healthy snacking. Additionally, the idea of on-the-go eating is directly linked to items that are simple to use and handle while still providing useful nutrition. Hence, the demand for processed peanuts is rising as a result of the convenience of consumption and the availability of disposable packaging, which allows easy and contamination-proof storage under different circumstances.
Asia-Pacific Holds The Largest Share
Peanuts have traditionally been a core ingredient in various popular Indian dishes owing to their wide availability and reputation as an affordable source of nutrition. The demand for processed peanuts is increasing due to the rising interest in healthy snacking, convenience food, and flavored nuts. Further, changes in the food consumption patterns to include plant-based protein instead of meat-based protein are accelerating the expansion of the market under study. The availability of peanut mixes, seasoned peanuts, and various flavors with clean label claims like organic, additive-free, non-GMO, etc. is anticipated to drive the market demand during the forecast period. Moreover, with the high production of peanuts in the region, manufacturers have easy and cost-effective availability of raw peanuts to produce processed peanut snacks. For instance, China is the world's leading producer of peanuts, accounting for nearly 17.99 million metric tons of production in 2020 according to the statistics disclosed by the INC (International Nut and Dried fruit) organization. India, Nigeria, and the United States followed with about 9.95, 4.49, and 2.78 million metric tons, respectively. All these factors collectively are boosting the growth of the market and are expected to continue the same during the forecast period.
Processed Peanut Industry Overview
The global processed peanut market is highly fragmented and very competitive, especially in developed economies where a significant number of snack food manufacturing businesses are in operation to provide innovative peanut snack varieties. Some of the major players studied are Hormel Foods, LLC, John B. Sanfilippo & Son, Inc., Whitley's Peanut Factory., Frito-Lay North America, Inc. (PepsiCo), and The Peanut Shop of Williamsburg., among others. The prominent players are focusing on new product developments, attractive packaging formats, and omnichannel distribution strategies to cater to the increasing demand from consumers, thereby gaining a competitive advantage in the market. In order to strengthen their hold in the market, these companies are innovating their flavors and partnering with hypermarket chains and online grocery platforms.
Processed Peanut Market Leaders
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Hormel Foods, LLC
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John B. Sanfilippo & Son, Inc.
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Whitley's Peanut Factory.
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Frito-Lay North America, Inc. (PepsiCo)
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The Peanut Shop of Williamsburg.
*Disclaimer: Major Players sorted in no particular order
Processed Peanut Market News
- In June 2022, Planters, a Hormel Foods Corp. brand, launched sweet & spicy dry roasted peanuts that are now available at convenience stores. The company claims that this snack is dry roasted with honey and dried red chili peppers, then seasoned with salt. They are currently available in a 1.75-ounce on-the-go package in convenience stores and 16-ounce bottles at grocery stores
- In June 2022, Humdinger, a multi-category healthy snack company, partnered with Budweiser to launch three new flavors of peanuts in the United Kingdom in a deal brokered by IMG. Available in American-based flavors including Smokey Texan BBQ, Buffalo Chicken Wings, and Flame Grilled Ribs, the crispy coated peanuts have been crafted to pair with the taste of Budweiser.
- In October 2020, SkinnyDipped, creator of snacks, announced the launch of a line of thinly-dipped peanuts. SkinnyDipped made these peanuts available in two nostalgic and spontaneously snackable flavors, milk chocolate and PB & J.
Processed Peanut Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Plain
5.1.2 Flavored
5.1.2.1 Salted
5.1.2.2 Sweet Flavored
5.1.2.3 Spicy Flavored
5.1.2.4 Others
5.2 By Distibution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Hormel Foods, LLC
6.3.2 John B. Sanfilippo & Son, Inc.
6.3.3 Whitley's Peanut Factory.
6.3.4 Frito-Lay North America, Inc. (PepsiCo)
6.3.5 The Peanut Shop of Williamsburg.
6.3.6 Haldiram's India Pvt Ltd
6.3.7 Hampton Farms
6.3.8 Margaret Holmes
6.3.9 Snak Club
6.3.10 Jabsons Foods
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
Processed Peanut Industry Segmentation
Processed peanuts refer to raw peanuts without shells and other packaged peanut snacks such as roasted peanuts and flavored peanuts. The processed peanut market is segmented by type, distribution channel, and geography. By type, the market is segmented into plain peanuts and flavored peanuts. By flavored, the market is further classified as salted, sweet flavored, spicy flavored, and others. By distribution channel, the market is segmented as supermarkets and hypermarkets, convenience stores, online stores, and other distribution channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, and Middle-East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
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Processed Peanut Market Research FAQs
What is the current Processed Peanut Market size?
The Processed Peanut Market is projected to register a CAGR of 3.25% during the forecast period (2024-2029)
Who are the key players in Processed Peanut Market?
Hormel Foods, LLC, John B. Sanfilippo & Son, Inc. , Whitley's Peanut Factory., Frito-Lay North America, Inc. (PepsiCo) and The Peanut Shop of Williamsburg. are the major companies operating in the Processed Peanut Market.
Which is the fastest growing region in Processed Peanut Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Processed Peanut Market?
In 2024, the Asia-Pacific accounts for the largest market share in Processed Peanut Market.
What years does this Processed Peanut Market cover?
The report covers the Processed Peanut Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Processed Peanut Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Processed Peanut Industry Report
Statistics for the 2024 Processed Peanut market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Processed Peanut analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
