Global Peanut Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Peanut Oil Market Overview:

“The global Peanut Oil Market  size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Peanut oil, also called groundnut oil, is used for frying, sautéing, and simply enhancing the flavor. It is also a good source of Vitamin E and uses in various applications. There are various benefits of using peanut oils including helping in balancing cholesterol levels, preventing cancer, relieving constipation, etc.

Increasing health concerns among the population due to the growing prevalence of chronic diseases such as heart problems, blood pressure, etc., across the globe, is expected to drive revenue growth of the market over the forecast period.

In addition, rising population, growing disposable income levels on healthy lifestyle, increasing awareness related to the health benefit of peanut oil, changing eating habits, and changing consumer preferences, are some factors anticipated to propel the growth of the global peanut oil market.

The increasing use of peanut oil for medicinal purposes and skincare products are some factors expected to boost the growth of the target market in the near future.

However, the high production cost of peanut oil is a major factor expected to restrain the growth of the target market in the near future. In addition, high consumption of peanut oil results in various side effects in human health which is one of the major factors expected to hamper growth of the target market to a certain extent.

Global Peanut Oil Market: Segment Analysis

Among the type segments, the refined segment is expected to account for a major revenue contribution, owing to the deodorization and bleaching process that removed the compounds that might cause allergies thereby making non-allergic refine oil.

Among the application segments, the food segment is expected to account for a major revenue share contribution to the global market, owing to its cost-effectiveness as compared to other oils. The pharmaceutical segment is expected to register a significant growth rate, owing to the usage of peanut oil in the product to help in weight loss, cholesterol-lowering, and cardiac and constipation drugs.

Among the packaging segments, the plastic containers segment, followed by the plastic pouches segment, is expected to account for major revenue contribution, owing to the increasing demand for cosmetics, food, and other products across the globe.

Global Peanut Oil Market: Regional Analysis

North American market is expected to account for a major share of the global market in terms of revenue, attributable to increasing peanut oil consumption in the region's countries. This can be attributed to the rising demand of peanut oils from food and pharmaceutical industries in the countries of the region.

Asia Pacific market is expected to account for the highest peanut oil production and is anticipated to register a significant growth rate over the forecast period. The markets of peanut oil in Europe and Latin America are also expected to witness moderate growth over the forecast period.

Global Peanut Oil Market Segmentation:

Segmentation by Type:

• Refined
• Unrefined

Segmentation by Packaging:

• Glass Containers
• Plastic Containers
• Plastic Pouches
• Others

Segmentation by Applications:

• Personal Care Products
• Food
• Pharmaceutical
• Others

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa