Peanuts Market Grows at 2.14% CAGR, Driven by Expanding Food Applications and Plant-Based Protein Demand (2025-2035)

The Global Peanuts Market continues to demonstrate stable expansion, supported by its widespread use in food, oil extraction, and animal feed applications. As per Market Research Future analysis, the peanuts market size was estimated at USD 92.26 billion in 2024. The industry is projected to grow from USD 94.24 billion in 2025 to USD 116.48 billion by 2035, registering a compound annual growth rate of 2.14% during the forecast period from 2025 to 2035. While growth remains moderate, the market's resilience reflects the essential role peanuts play in global food systems and agricultural economies.

Peanuts are valued for their high nutritional content, offering a rich source of plant-based protein, healthy fats, dietary fiber, vitamins, and minerals. Their affordability and versatility make them a staple ingredient across many cuisines worldwide. Peanuts are consumed in various forms, including whole nuts, roasted snacks, peanut butter, confectionery ingredients, and cooking oil, contributing to consistent demand across both household and industrial channels.

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One of the key drivers supporting the peanuts market is the rising demand for plant-based and protein-rich foods. As consumers increasingly seek affordable alternatives to animal protein, peanuts are gaining popularity due to their nutritional profile and wide availability. Peanut-based products such as spreads, protein bars, and snacks are increasingly featured in health-focused and vegetarian diets, supporting steady market growth.

The food processing industry plays a central role in driving peanut consumption. Peanuts are widely used in bakery products, confectionery, sauces, ready-to-eat snacks, and traditional food preparations. Growing urbanization and changing eating habits have increased demand for convenient and packaged food products, many of which incorporate peanuts as a key ingredient for flavor, texture, and nutritional enhancement.

In addition to food applications, peanut oil remains an important segment of the market. Known for its high smoke point and neutral flavor, peanut oil is widely used in cooking and foodservice operations. Demand for edible oils continues to support peanut cultivation, particularly in regions where peanuts are a traditional oilseed crop. The use of peanut by-products in animal feed also contributes to overall market stability by maximizing crop utilization.

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From a regional perspective, Asia-Pacific represents the largest market for peanuts, driven by high production and consumption levels in countries with strong agricultural output and traditional usage. North America and Europe maintain steady demand, particularly for peanut butter, snacks, and processed food applications. Meanwhile, emerging markets in Africa and Latin America continue to expand peanut production, supporting both domestic consumption and export opportunities.

Despite its stable outlook, the peanuts market faces challenges related to climate variability, crop diseases, and price fluctuations. Peanuts are sensitive to weather conditions, and changes in rainfall patterns or temperature can affect yields and supply consistency. Additionally, concerns related to food safety, such as aflatoxin contamination, require strict quality control measures across the supply chain. However, ongoing advancements in farming practices, storage technologies, and quality assurance systems are helping address these challenges.

Looking ahead, the global peanuts market is expected to maintain steady growth through 2035. With a projected CAGR of 2.14%, the industry will continue to benefit from its versatility, nutritional value, and role as a cost-effective protein source. Continued innovation in peanut-based products, combined with rising awareness of plant-based nutrition, will support long-term demand and reinforce peanuts as a key component of the global food and agriculture market.

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