Global Peanut Oil Market – Market Demand, Market Research Report, Market Size
The global Peanut Oil market size was valued at USD XX Billion in 2018 and is anticipated to expand at a CAGR of XX % from forecast period of 2019 to 2026. Peanut oil is an edible vegetable oil that is derived from peanuts. Peanuts are legumes and are native to Latin America and several other others tropical regions. Peanut or peanut oil may be a well-established product with a historically high use in several Asian foods and cuisines. it’s used either as a base for cooking (cooking oil) or to boost the flavour of the underlying food. Source: Secondary Databases, Primary Interviews and 99 Reports Research AnalysisGlobal Peanut Oil Industry Dynamics -The marketplace for cooking oils may be a crowded place with a high level of competition and minimal unique functionality. This competition is because of the high and consistent use of several other vegetable oils and introduction of latest and unique oils per annum. The emergence of soyabean oil, as an example, is cited as a vital reason for the decline within the use of peanut and other vegetable oils. The impact of latest oils is especially strong in developed regions as consumers belonging to those regions have access and purchasing power to shop for these new products.The other important factor that governs the expansion of the groundnut oil market is that the extent to which peanuts is used for direct consumption and for processing. Its estimated that the share of peanuts used for direct consumption will increase within the coming years.
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The functional properties offered by peanut oil are a crucial factor driving the market. Groundnut oil is especially fitted to deep-frying purposes because it doesn’t absorb the flavor of the underlying food products. it is also a comparatively healthy oil because of a low percentage of saturated fats, trans-fats, and cholesterol. These factors are important within the context of the increasing health awareness among consumers. The nutty flavor offered by peanut oil is additionally a crucial factor that influences peanut oils to be used as a dressing and flavoring agent.Allergy to peanut may be a serious concern for the market as peanut allergy may be a relatively high explanation for food-related deaths.
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As per the National Institute of Allergy and Infectious Diseases, over 0.6% of the population within the U.S. is allergic to peanuts or peanut-derived products. The utilization of refined and processed peanut oil mitigates this risk to a particular extent.
Global Peanut Oil Market – Key Segment –
- Global Peanut Oil Market
- by Type –
- Global Peanut Oil Market
- by Application –
- Personal Care Products
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Global Peanut Oil Market – Geographical Analysis By geography, the global Cosmetic pigment Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).North American market is predicted to account for a significant share of the worldwide market in terms of revenue, owing to increasing consumption of peanut oil within the countries of the region. This will be attributed to the rising demand for peanut oils from food and pharmaceutical industries within the countries of the region. Asia Pacific market is predicted to accounts for the best production of peanut oil and anticipated to register a major rate of growth over the forecast period. The markets of peanut oil in Europe and Latin America also are expected to witness moderate growth over the forecast period.Global Peanut Oil Market –
- Some of the key leaders companies in the market include –
- Adani Enterprises Ltd
- Archer Daniels Midland Co
- Cargill Inc
- COFCO Corp
- Lorenzati Ruetsch y Cia SA
- Louis Dreyfus Co. BV
- Olam International Ltd
- The Hain Celestial Group Inc
- The J.M. Smucker Co
- and Wilmar International Ltd..
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