Peanut
oil is an edible vegetable oil that is derived from peanuts. Peanuts
are legumes and are native to Latin America and several others
tropical regions. Peanut or groundnut oil is a well-established
product with a historically high use in several Asian foods and
cuisines. It is used either as a base for cooking (cooking oil) or to
enhance the flavor of the underlying food.
Download
PDF Brochure @
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=22958
Market
Dynamics of Peanut Oil Market
The
market for cooking oils is a crowded place with a high level of
competition and minimal unique functionality. This competition is due
to the high and consistent use of several other vegetable oils and
introduction of new and unique oils every year. The emergence of
soybean oil, for instance, is cited as an important reason for the
decline in the use of peanut and other vegetable oils. The impact of
new oils is particularly strong in developed regions as consumers
belonging to these regions have access and purchasing power to buy
these new products.
The
other important factor that governs the growth of peanut oil market
is the extent to which peanuts are used for direct consumption and
for processing. It is estimated that the share of peanuts used for
direct consumption will increase in the coming years.
The
functional properties offered by peanut oil are an important factor
driving the market. Peanut oil is particularly suited for deep-frying
purposes as it does not absorb the flavor of the underlying food
products. It is also a relatively healthy oil due to a low percentage
of saturated fats, trans-fats, and cholesterol. These factors are
important in the context of the increasing health awareness among
consumers. The nutty flavor offered by peanut oil is also an
important factor that influences peanut oils to be used as a dressing
and flavoring agent.
Buy
this Report at:
https://www.transparencymarketresearch.com/checkout.php?rep_id=22958<ype=S
Allergy
to peanut is a serious concern for the market as peanut allergy is a
relatively high cause of food-related deaths. As per the National
Institute of Allergy and Infectious Diseases, over 0.6% of the
population in the U.S. is allergic to peanuts or peanut-derived
products. The use of refined and processed peanut oil mitigates this
risk to a certain extent.
Market
Segmentation of Peanut Oil Market
The
peanut oil is segmented on the basis of type, application, and
packaging.
On
the basis of type, the market is segmented into refined and unrefined
peanut oil. The refined oil is refined through bleaching and
deodorization. This process essentially removes the components that
might cause peanut-based allergies thereby making refined peanut oil,
non-allergic. The high smoke point offered by refined peanut oil
makes it an attractive frying oil for hotels and restaurants.
Unrefined peanut oil offers the nutty taste of peanuts and is,
therefore, an ideal choice for salad dressings.
On
the basis of application, the market is segmented into food, personal
care products, pharmaceutical and others. Food is the dominant
segment and is expected to remain so due to the nature of the market.
The increasing interest in incorporating plant-based or natural
solutions into daily products is an important driving factor for the
personal care products segment. In the personal care products
segment, peanut oil finds application in several categories such as
skin and baby care products. Peanut oil is also used in a wide range
of pharmaceutical products such as weight loss, cholesterol-lowering,
cardiac and constipation drugs.
On
the basis of packaging, the market is segmented into plastic bottles
and containers, glass containers, plastic pouches, and cartons.
Convenience, cost and shelf life are important parameters to gauge
the performance of any kind of packaging method. The plastic bottles
and containers and plastic pouches are important and dominant
segments due to their particular applicability in preparing food
products.
Regional
Outlook of Peanut Oil Market
The
peanut oil market in North America, Latin America, Western Europe,
Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA is
covered in the report.
On
the basis of production of peanuts, China and India dominate the
market and account for over half of the global production. The United
States is also an important producer with over ten percent of the
global share. On the basis of consumption, the market presents a more
complex and region-specific trend. The overall observable trend being
that the increase in peanut oil consumption is closely related to its
increasing incorporation in food products.
Key
Market Players in Peanut Oil Market
Some
of the key players in the peanut oil market include Archer Daniels
Midland (Golden Peanut), Cargill, Incorporated, Olam International,
Adani Wilmar Limited (Fortune Foods), Ventura Foods (Lou Ana), etc.
No comments:
Post a Comment