The
market for cooking oil is crowded, exhibiting a high degree of
competition, and negligible unique functionalities. The consistently
rising use of vegetable oils and launch of newer variants within the
market have created an environment conducive to the growth of the
global
peanut oil market. In a report, titled “Peanut Oil
Market - Global Industry Analysis, Size, Share, Growth, Trends, and
Forecast 2017 – 2027,” Transparency Market Research provides
a comprehensive overview of the market and covers various factors
supporting the market’s trajectory between 2017 and 2027. Besides
this, the report also sheds light on the various challenges that the
market players may witness during the course of the forecast period.
Considering
the increasing health consciousness among consumers around the world,
the demand for peanut oil has picked up in the last few years. People
around the world have become increasingly health conscious. Hence a
paradigm shift in their eating habits is noticed, wherein they are
slowly moving toward healthier food. This has considerably aided the
global peanut oil market’s growth. On the downside, the rising
popularity of soybean oil is hindering the peanut oil market’s
growth to an extent. Nonetheless, the demand for these new variants
of oil is considerably high in developed nations, as consumers
belonging to these countries have greater access and higher
disposable income to spend on new products. Also with forecasts
regarding the increasing use of peanuts for direct consumption and
processing, the future of the global peanut oil market seems much
promising.
Other
than this, the growing awareness about the functional properties of
peanuts is aiding in the market’s expansion. Also peanut oil is
preferred for deep frying as it does not absorb the underlying flavor
of food products. This is one of the key reasons behind its
increasing use across fast food chains. Moreover, peanut oil is
considered relatively healthier as it has relatively low percentage
of trans-fat, cholesterol, and saturated fat. Besides this, many
consumers opt for peanut oil because of its nutty flavor. Against
this backdrop, the demand for peanut oil is expected to rise in the
coming years.
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However,
peanut allergy, which could prove fatal in severe cases is a major
factor restraining the use of peanut oil more commonly. The rising
incidence of peanut allergy worldwide has restricted the widespread
use of peanut oil especially across food chains, thus restricting the
market’s expansion. The report provides an in-depth study of the
various factors supporting the market’s growth and those creating
hindrances. It also gauges the impact of recent regulatory policies
on the overall market.
For
the purpose of the study, the global peanut oil market can be
segmented on the basis of type, packaging, and application. On the
basis of type, the market can be bifurcated into refined and
unrefined peanut oil. In terms of application, the market can be
categorized as personal care products, food, pharmaceuticals, and
others. Regionally, Western Europe, Eastern Europe, Latin America,
North America, Asia Pacific (excluding Japan), Japan, and the Middle
East & Africa constitute the key segments within the global
peanut oil market. The report studies in detail the various factors
supporting the market’s growth across these segments.
To
provide a holistic outlook, some of the leading enterprises operating
within the global peanut oil market are profiled. These companies are
studied on the basis of their product portfolio, recent strategies,
strategic collaborations, and financial overview. Cargill
Incorporated, Archer Daniels Midland (Golden Peanut), Ventura Foods
(Lou Ana), Adani Wilmar Limited (Fortune Foods), and Olam
International are some of the prominent enterprises operating in the
global peanut oil market.
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