Market Definition and Growth Factors:
Peanuts are packed nutrients and are known to boost the heart health preventing cardiovascular diseases. Peanuts are commonly used in health supplements and energy bars. Due to its nutritional values, Peanuts are consumed to get various health benefits. Peanut milk derived from raw peanuts serves as plant-based substitutes for animal-based milk products. This milk carries low-calorie content, rich in several healthy nutrients and is lactose-free. Hence, peanuts milk is hugely popular among people prone to lactose allergy and a large number of health-conscious consumers. As a result, the peanuts market has become an ever-increasing space, witnessing a huge demand all year long. Peanuts are packed nutrients and are known to boost the heart health preventing cardiovascular diseases. Peanuts are commonly used in health supplements and energy bars. Due to its nutritional values, Peanuts are consumed to get various health benefits.
Acknowledging the significant growth this market has witnessed so far, Market Research Future (MRFR), in its recently published study report asserts that the global peanuts market will grow exponentially, registering a staggering CAGR during the period (2017 -2023). The huge popularity & consumption are some of the key driving forces behind the market growth.
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Additional factors boosting the growth of the market include the changing consumer preference towards including various nutritional sources to their diet and rapidly expanding application areas of peanuts. Simultaneously, the flourishing food & beverages market is opening new avenues of opportunities for the peanuts market.
On the flip side, factors such as the absence of regulatory laws and the prevalence of peanut allergy are estimated to obstruct the market growth over the review period. Nevertheless, factors such as the growing population of lactose intolerant and vegan individuals are expected to support the growth of the market.
Key players leading the global Peanuts market are Kraft Foods Inc. (U.S.), Olam International (Singapore), Hampton Farms, Inc (U.S.), Virginia Diner (U.S.), Star Snacks Co., LLC (U.S.), Archer Daniels Midland (U.S.), and Diamond Foods, Inc. (U.S.) among others.
Industry/ Innovation/ Related News:
December 19, 2019 —– Saurashtra Oil Mills Association (SOMA – India) are demanding incentives for peanut export from the union ministry of commerce. India exports six lakh tonne peanuts every year out of that 3-lakh tonne is exported from Saurashtra, which is the largest groundnut producing area in the country. The traders are demanding nearly six percent duty drawback on the export of peanuts.
Global Peanuts Market – Competitive Analysis:
The fiercely competitive Peanuts market appears fragmented with the presence of several large and small-scale players forming a competitive landscape in the market. Focused on improving their market performance, the market players are acquiring promising companies to expand in the fast-growing markets. Growth in terms of production technologies and product applications is expected to create strong investment opportunities for global players.
Global Peanuts Market – Segmentations:
The report is segmented into four key dynamics for the convenience of understanding.
By Form : Raw, Roasted, blanched, and Powder among others.
By Application : Direct consumption/Culinary purpose, Bakery & Confectionery, Peanut Butter & Spreads, Peanut Bars, Dairy Products, and Oil Production among others.
By Distribution Channel : Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, and E-commerce among others.
By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World.
Global Peanuts Market – Regional Analysis:
The Asia Pacific region heading with the largest export of the product accounts for the largest market for peanuts, globally. Factors fostering the growth of the regional market include the changing lifestyle and the adoption of healthy diet led by the improving economic conditions.
Countries such as India, China, and Indonesia are promising markets for Peanuts production. Also, factors such as the huge consumption of peanut milk, changing consumer preference & lifestyle, and the increasing uptake of the vegan and healthy diet are allowing the APAC peanuts market to witness exponential growth, worldwide.
Moreover, the growing awareness towards the plant-based milk products and the health beneficial properties associated with peanut milk is driving the market growth in this region. Owing to the increasing health concerns among the geriatric population and the demand for affordable food with high protein content, the region is projected to perceive an outstanding growth over the assessment period 2017-2023.
The North American region accounts for the second-largest market for peanuts. Factors such as the high consumption of peanut milk and supplements for health development and the growing need to maintain a healthy lifestyle drive the market in the region.
Furthermore, the well-spread awareness about the importance of nutrients containing in peanuts for cognitive development is anticipated to escalate the market growth in the region over the forecast period. The region is expected to register a fabulous growth owing to the new product development by the key manufacturers of fish oil.
Whereas, owing to the extensive demand from some of the burgeoning industries such as F&B, Pharmaceuticals, and Personal care products and the well-spread awareness among consumer about health benefits that Peanuts offer, the European market is expected to create a large revenue pocket over the assessment period.
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Table of Content:
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.2.1 Research Objectives
2.3 Markets Structure
3 Research Methodology
3.1 Research Methods
3.1.1 Primary Research
3.1.2 Secondary Research
3.2 Forecast Model
3.3 Market Size Estimation
4 MARKET DYNAMICS
4.1.1 Trends in Supply/Production
4.1.2 Trends in Demand/Consumption
4.1.3 Value Chain Analysis
4.1.4 Porter’s Five Forces
4.1.5 Supply Chain Analysis
4.1.6 Macroeconomic Indicators Analysis for Top 5 Producing Countries