Peanuts Market Overview:
By 2032, the market for peanuts is expected to grow at a CAGR of 2.14% and reach a value of USD 109.29 billion.
Due to its expanding applications, the Peanuts Market is becoming more and more well-liked across a range of industries. Nutrient benefits of peanuts include vitamin E, vitamin B2, vital minerals, and many others. They are also rich in antioxidants, which enhances the health advantages of peanuts and increases desire for the food item. The demand for peanuts is being fueled by the fact that they are employed in numerous industries and have a wide range of applications.
The commodity is also in high demand for culinary use because to growing public knowledge of the advantages of peanuts. Additionally, it has been noted that buyers prefer the several varieties of peanuts that are offered. In India, roasted peanut snacks and peanut oil are the two most popular uses for peanuts. In addition to quelling hunger pangs, eating peanuts also results in smooth, supple skin that looks younger, which is fueling the growth of peanut consumption. However, processing peanuts requires a significant investment, which might prevent the market from expanding.
Key Players:
Olam International (Singapore), Kraft Foods Inc. (U.S.), Hampton Farms, Inc. (U.S.), Star Snacks Co., LLC (U.S.), Virginia Diner (U.S.), Archer Daniels Midland (U.S.), and Diamond Foods, Inc. are the major profiled in the Peanuts Market Companies.
Regional Analysis:
North America, Europe, APAC, and the rest of the world are the regions that make up the global market for peanuts (RoW). Over the anticipated period, APEJ is anticipated to experience the fastest growth. North America is second in terms of market share, after the Asia Pacific region. Due to consumers adopting a healthy diet as a result of changing lifestyles, Asia-Pacific is anticipated to generate significant revenue during the specified forecast period.
The Netherlands, China, Vietnam, Indonesia, and Germany are the top importers of peanuts. The import and export of peanuts are found to be increasing at a steady growth rate in developed countries, which can be attributed to the increased demand for food oils with high levels of mono-unsaturated fatty acids. Due to the growing elderly population in this area, Europe is likely to account for a sizeable portion of the global Peanuts market.
Market Segmentation:
Type, form, distribution channel, and geography are the divisions used to categorise the global market for peanuts.
Depending on the form it is available in raw, roasted, blanched, powder, and other forms. Application-based categories include bakery and confectionery, peanut butter and spreads, peanut bars, dairy products, oil production, and others. Direct consumption and culinary purposes are also included. According to the distribution channel division there are superstores and hypermarches, convenience stores, specialty shops, online retailers, and others.
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