Peanut
is one of the most important legume grown in warmer regions such as
Asia, Africa, Australia and in The Americas. Peanuts are rich in
large number of nutrients such as biotin, copper, manganese,
phosphorus, a variety of vitamins and proteins etc. Peanut flour is
obtained by crushing peanuts, they are processed to obtain flour with
a lower fat content. Peanut flour, after removing the fat content has
high amount of protein. The demand for plant based ingredients which
also includes of peanut flour is increasing due to consumers demand
for healthier food products and cleaner label requirements. Peanut
flour is gluten-free and has been considered to be beneficial for
heart health. It is used as an alternative flour to make gluten free
breads and other bakery products, it is also used as a thickener,
flavoring agent, topping for meat and seafood and as an ingredient in
smoothies to increase the protein content. Asia Pacific is projected
to be the fastest growing region due to the rising population of
China, Japan, and India. Increasing disposable incomes and subsequent
concerns about healthy, flour-based products consumption are driving
the market in these countries.
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Segmentation:-
The
global peanut flour market is segmented by Type, by Application, by
function and by region. On the basis of different Types of peanut
flour market is segmented into 28% fat peanut flour (light roast),
12% fat peanut flour (dark roast) and organic peanut flour.
On
the basis of application the peanut flour market is segmented into
nutrition bar, cereals, low-fat peanut butter, seasoning blends,
sauces, baked goods and others. The others segment consists of
confections, dry peanut butters, fillings, toppings, beverages and
pet treats. Peanut flour market is segmented on the basis of function
which consists of color enhancer, protein source, peanut flavor and
others. The others segment consists of thickener, gluten free
ingredient and shelf life extender
Global
market Dynamics
Following
are the market drivers and restraints responsible for the market
dynamic prevailing in the peanut flour market:
Drivers
Ease
of use and plant based source:
Peanut
Flour is an easy to use ingredient, as it is in a dry powder form and
is a rich source of plant based protein. It helps in giving steady
flavors and aroma in the food products it is used.
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High
source of protein:
Deffated
peanuts during the processing to obtain peanut flour from peanut
provides an alternative and cheaper source of high protein.
Increasing
demand for gluten-free flour:
The
increased demand for gluten-free food products have also helped in
driving the growth of peanut flour in gluten free products
application.
Restraints
Health
concerns (Allergy):
A
lot of people including children and adults are allergic to peanuts
in different parts of the world. This pose a threat to the growth of
peanut flour market, as increased number of cases of peanut allergy
has adversely impacted the application of peanuts and peanut flour in
a lot of food products.
Regional
Outlook:-
The
global market is dominated by North America and Europe. Developing
countries are emerging as leading exporters of peanuts to the North
American and European regions. The South East Asian region is one of
the prominent producers and exporters of peanut flour. This region is
projected to grow at the highest CAGR during the forecast period. The
growing demand for gluten free food products, plant based protein
sources and processed meat products in this region drives the growth
of peanut flour market.
Major
Key players:-
Some
of the major key players who are driving the peanut flour market
globally are ADM, CUKRA, Amanda, Vinay Industries, Puyang Tianli and
Qingdao Changshou.
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