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Peanut Oil Market Size, Share Analysis And Growth Report 2033
Peanut Oil Market Size
As per the report, the peanut oil market size has grown strongly in recent years. It will grow from $9.74 billion in 2023 to $10.25 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The peanut oil market size is expected to see strong growth in the next few years. It will grow to $12.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
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Peanut Oil Market Growth Fuelled By Consumer Awareness And Health Concerns
Growing consumer awareness and health concerns are expected to propel the growth of the peanut oil market going forward. Consumer awareness and health concerns are on the rise due to increased access to information, higher expectations for product transparency, and a growing emphasis on personal well-being. Peanut oil is a versatile cooking oil that supports heart, skin, and brain health and immunity, making it valuable for health-conscious individuals when consumed in moderation. For instance, in May 2022, according to an online survey conducted by the International Food Information Council of 1,005 Americans ages 18 to 80., a US-based non-profit organization, 52% of Food and Health Survey participants followed a specific diet or eating pattern, up from 39% in 2021. The increased dieting has come primarily from consumers under the age of 50. The most common diets or eating patterns this year include clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Therefore, growing consumer awareness and health concerns will drive the peanut oil market.
Cold-Pressed Oils Drives Innovation In The Peanut Oil Market
Major companies operating in the peanut oil market are focused on developing innovative product offerings, such as cold-pressed groundnut oils, to enter the rapidly growing premium segment of cold-pressed oils. Cold-pressed groundnut oils refer to groundnut or peanut oils that are extracted using traditional cold-pressed methods without any heating or chemical processes. For instance, in August 2023, Tata Consumer Products, an India-based manufacturer and supplier of consumer food and beverages, launched a new range of 100% pure and unrefined cold-pressed oils to make premium-quality oils accessible and affordable for a wide range of consumers. The Tata Simply Better Cold Pressed Oils collection features four variants, including cold-pressed groundnut oil, virgin cold-pressed coconut oil, cold-pressed mustard oil, and cold-pressed sesame (gingelly) oil. The launch of this new range of cold-pressed oils is part of Tata's strategy to redefine the norms in this rapidly growing category and provide consumers with nourishing alternatives that promote overall well-being.
The peanut oil market covered in this report is segmented -
1) By Type: Refined, Un-Refined
2) By Packaging: Glass Containers, Plastic Containers, Cartons, Plastic Pouches, Other Packaging Types
3) By Distribution Channel: Business To Business, Hypermarket Or Supermarket, Online Sales Channels, Independent Retail Stores
4) By Application: Personal Care Products, Food, Pharmaceutical, Other Application
5) By End Users: Home, Restaurant, Food Manufacture, Other End Users
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Major companies operating in the peanut oil market are Cargill Inc., Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, CHS Inc., Olam International, Yihai Kerry Investments Co. Ltd., Louis Dreyfus Company, Adani Wilmar, Ruchi Soya Industries Ltd., Hain Celestial Group, J-Oil Mills Inc., Lam Soon Group, Ventura Foods, Agarwal Industries Pvt. Ltd., Liberty Oil Mills Ltd., Golden Peanut and Tree Nuts, Catania Oils, Planters Peanut Co., Agro Indonesia, Manishankar Oils Pvt. Ltd., Shree Ram Proteins Ltd, Kothari Oils
Contents of the report:
1. Executive Summary
2. Peanut Oil Market Report Structure
3. Peanut Oil Market Trends And Strategies
4. Peanut Oil Market - Macro Economic Scenario
5. Peanut Oil Market Size And Growth
…..
27. Peanut Oil Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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