Peanuts Market Valuation Expected to Reach USD 116.48 Billion by 2035 Driven by Evolving Dietary Trends and Expanding Food Processing Sector

The global peanuts market continues to show stable and promising expansion, backed by growing consumption patterns and increased demand across food, beverage, and confectionery applications. According to MRFR analysis, the peanuts market was valued at USD 92.26 billion in 2024 and is expected to grow to USD 94.24 billion in 2025. Looking ahead, long-term projections indicate significant expansion, with the market anticipated to reach USD 116.48 billion by 2035, reflecting a compound annual growth rate (CAGR) of 2.14 percent during the forecast period of 2025 to 2035. This steady growth trajectory can be attributed to rising health consciousness, versatile product applications, and increasing utilization of peanuts in snack formulations, plant-based protein products, and edible oil production. The trend toward sustainable, nutrient-rich foods and the rising influence of vegan and protein-focused diets are further contributing to overall consumption.

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Market Overview

Peanuts have become one of the most consumed nuts globally, serving as an essential agricultural commodity utilized across multiple industrial segments. Their high protein concentration, natural oils, vitamins, and minerals make them a cost-effective nutritional source preferred by both consumers and manufacturers. The market has seen a surge in applications across peanut butter production, peanut oil, processed snacks, bakery ingredients, ready-to-eat food items, as well as premium confectionery. Additionally, the increasing penetration of value-added peanut-based products into retail and e-commerce distribution channels is supporting market accessibility, especially in developing economies. Technological advancements in food processing, packaging innovations, and improved farming practices are also contributing to better yield and product quality.

Key Players

The competitive landscape of the peanuts market includes globally recognized agricultural producers, food manufacturers, and integrated processors. Key industry participants operate with strategic focus on product innovation, geographical expansion, and supply chain optimization. Major companies in the sector include Olam International, Archer Daniels Midland Company (ADM), Cargill Incorporated, Hampton Farms, and Wilbur-Ellis. These companies are investing in improved farming practices, quality certifications, and sustainable sourcing strategies to meet rising global demand. Many leading players continue to expand processing facilities and collaborate with retail and food service brands to strengthen market positioning.

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Driving Factors and Market Trends

Growing awareness of the health benefits associated with peanuts is one of the strongest demand drivers. Peanuts contain plant-based proteins, dietary fiber, antioxidants, and healthy fats, making them increasingly popular among individuals seeking nutrition-rich diets. The ongoing rise of vegan and vegetarian food categories, combined with fitness-driven consumption trends, is boosting demand for peanut protein isolates, snacks, and spreads. Another key growth trend is the increasing use of peanuts in alternative food segments such as lactose-free, gluten-free, and dairy substitute applications. The edible oil sector continues to account for significant market share due to the widespread use of peanut oil for cooking and commercial food production. Innovations in flavored peanuts, protein bars, and premium snack offerings are also increasing value capture across retail markets.

Segment Analysis

Based on type and product use, raw peanuts continue to dominate consumption, but processed and roasted variants are becoming increasingly popular. The peanut butter segment shows substantial momentum due to rising demand in Western and Asian economies. Peanut oil remains a major revenue-generating category, particularly in regions where the oil is traditionally used for frying and everyday cooking. The confectionery and snack segment are emerging as lucrative market drivers, as manufacturers increasingly incorporate peanuts into chocolate bars, coated nuts, premium snacks, convenience foods, and bakery products. Additionally, the growth of organic and non-GMO peanuts is strengthening the premium segment, driven by clean-label consumption trends.

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Regional Analysis

Regionally, Asia-Pacific holds the largest share of the global peanuts market, supported by strong production bases in China, India, and Southeast Asian countries. These economies benefit from favorable climates, large agricultural output, and growing domestic consumption. North America represents a mature yet expanding market, particularly driven by rising interest in peanut butter, trail mixes, and health-focused snack alternatives. Europe is witnessing steady demand growth due to increased imports, expanding use in the bakery and confectionery industry, and the rising presence of sustainable and high-protein food trends. Meanwhile, Africa and Latin America are gaining prominence as production and export hubs due to availability of fertile land, supportive climate conditions, and growing agricultural investment.

Industry Developments

The future of the peanuts market is shaped by technological advancements in crop genetics, sustainable farming efforts, and traceability improvements across supply chains. Companies are investing heavily in research and development to enhance crop resistance, reduce production waste, and ensure consistent quality. Precision farming technologies, automation, and artificial intelligence are increasingly implemented across cultivation and quality control processes. Furthermore, the broader market is benefiting from strategic partnerships, mergers, and acquisitions designed to expand processing capacity and distribution networks. Sustainability certifications such as Fair Trade, USDA Organic, and non-GMO labeling are becoming more common, further appealing to ethical and health-conscious consumers.

Overall, the peanuts market demonstrates steady long-term growth supported by evolving consumer behavior, diversified applications, and rising global trade. As product innovation and sustainability initiatives continue to advance, the industry is well positioned for consistent value expansion through 2035.

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