Acclaimed Health Benefits of Peanut Augur Well for Peanut Oil Market

Transparency Market Research’s new market study on the global peanut oil market looks into market indicators and demand trends that are expected to have a bearing on the growth of this market for the forecast period between 2017 and 2027. The report is titled “Peanut Oil Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2027.”

The functional properties of peanut is the key factor driving the peanut oil market. Peanut oil is largely used for deep-frying purposes as it keep the flavor intact of underlying food products. It is also relatively healthy due to low percentage of trans-fats, saturated fats, and cholesterol. The nutty flavor imparted by peanut oil is also influencing the use of peanut oil as a dressing and as a flavoring agent.

However, the growth of the peanut oil market is largely impeded due to the availability of several other vegetable oils and consistent introduction of new oils. For instance, the emergence of soybean oil is one of the key reasons for the decline in consumption of peanut and other vegetable oils. In particular, developed regions have an influential market for new oils due to the purchasing power of consumers and a fancy for new products.

Peanut allergy is a serious concern and a relatively important cause for food-related deaths, which is impeding the growth of the peanut oil market. According to statistics of the National Institute of Allergy and Infectious Diseases, more than 0.6% of the population in the U.S. have peanut allergies.

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In terms of application, the market can be segmented into personal care products, food, pharmaceuticals and others. Food is the dominant application segment and is anticipated to continue so in the future. The increasing trend of incorporating plant-based ingredients in daily use products is primarily driving the personal care products segment. Peanut oil is largely used in skin and baby care products in the personal care products range. In pharmaceutical products, peanut oil is widely used in weight loss, constipation, and cholesterol-lowering drugs.

By packaging, the peanut oil market can be segmented into glass containers, plastic bottles and containers, plastic pouches, and cartons. Plastic bottles and containers and plastic pouches are dominant packaging segments due to their ease of use in domestic settings.

The regional segments into which the peanut oil market can be segmented are North America, Western Europe, Asia Pacific excluding Japan, Latin America, Eastern Europe, Japan, and the Middle East and Africa.

Some of the top players in the peanut oil market include Archer Daniels Midland, Olam International, Ventura Foods, Cargill Incorporated, and Adani Wilmar Limited among others.