Yahoo Finance Peanuts Market Report - Valuation Estimated at USD 107.4 Billion by 2030, Predicts Market Research Future (MRFR)
Peanuts Market Size and Trends Analysis by Form (Raw, Roasted, blanched, Powder and others), Application (Direct consumption/Culinary purpose, Bakery and Confectionery, Peanut Butter and Spreads, Peanut Bars, Dairy Products, Oil Production and others), Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, E-commerce and others) and Region - Forecast to 2030
New York, US, May 24, 2022 (GLOBE NEWSWIRE) -- Peanuts Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Peanuts Market Information by Form, Application , Distribution Channel and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 107.4 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 2.45% during the review timeframe.
Market Scope: Peanut is the most common crop across the food industries and is used in several food products. The market helps produce a wide variety of peanuts oils; the market pantry dries roasted peanuts and snacks, which one can have directly and indirectly. Peanuts are used for several culinary purposes. They are a rich source of polyunsaturated fats. Due to the rich protein has a broad application in the food, peanuts product industry and is likewise advantageous for health benefits.
Peanuts are rich in vitamins, minerals, antioxidants, and nutrients. They are also helpful in maintaining a healthy body. It has plenty of dietary proteins. Peanuts are also recognized for being an abundant source of dietary proteins, and thus, it's famous all over the globe. Given the massive sale, the groundnut industry will likely increase over the coming years.
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Report Scope:
Report Attribute/Metric | Details |
2030 Market Size | USD 107.4 Billion |
CAGR | 2.45% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Form, Application, Distribution Channel, Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Market Drivers | Changes in consumption patterns |
Adoption of a healthy lifestyle also increase the market revenue |
Competitive Analysis
The global peanuts market Report has prominent players such as:
Star Snacks Co. LLC (U.S.)
Diamond Foods, Inc. (U.S.)
Olam International (Singapore)
Archer Daniels Midland (U.S.)
Kraft Foods Inc. (U.S.)
Virginia Diner (U.S.)
Hampton Farms Inc (U.S.)
Market USP Covered
Market Drivers
The global peanuts market has recorded a significant surge in the growth rate in the last few years. The considerable aspect causing an upsurge in the market's growth is the wide range of applications across the food & beverage sector. They are widely used to produce flour, oil, and peanuts. They are one of the most popular snacks across the globe. Peanuts are known to have several beneficial effects on health, causing a surge in demand for peanuts worldwide. Various aspects are projected to positively impact the peanuts market's growth over the coming years. the growing awareness regarding the health benefits associated with peanut consumption is the primary aspect causing an upsurge in the market's growth. Furthermore, given the high nutrient values, the increasing consumption of peanuts is another crucial parameter supporting the market's growth worldwide. In addition, the adoption of a healthy lifestyle and changes in consumption patterns across the globe is also anticipated to catalyze the market's growth over the coming years.
They are available in the market in raw form and processed food form. The growing applications of peanuts across the food industry are likely to offer lucrative opportunities to players across the globe.
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Market Restraints
Although several aspects are causing a surge in demand for peanuts across the globe., some parameters may impede the market's growth. The growing number of allergies associated with peanut consumption is likely to impede the market's growth. Furthermore, the factors such as lower supply rate and lower production rate are also projected to have an adverse impact on the peanut market's growth.
One of the significant challenges faced by the peanut market is the regional and linguistic barrier. The market has some limits, and to get over those, the market requires some investors and key players.
COVID-19 Impact
The global COVID-19 has had a significant impact on a majority of the market sectors across the globe. The global health crisis severely impacted several governments, private businesses, organizations, and healthcare institutions. The pandemic affected the economy and the health of the public. The global peanut market is no different than others. The peanut market faced some significant unexpected challenges. It directly impacted the agriculture sector, causing a reduction in the production level across the globe. Due to the pandemic, several governments worldwide declared the imposition of partial or complete lockdowns. Furthermore, with the announcement of social norms such as travel bans and social distancing, the market faced significant disruption in the global supply chain networks.
Apart from these restrictions, the requirement for health supplements is growing every day. Due to the corona outbreak, people across the globe are following healthy habits for good health. But given the lack of labor and lack of production rate, the global peanut market value decreased. So, according to the research report, the market has a mixed impact. With the fall in cases of COVID across the globe, the market is likely to get back on track over the forecasted era.
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Segment Analysis
The raw form segment is likely to dominate the global peanut market over the coming years among all the forms. The segment's growth is mainly credited to its wide range of applications across the food industry.
Out of all the application areas, the oil and bakery, and confectionery segment is projected to secure the top position across the global peanut market over the forecasted era.
Among all the distribution channels, the hypermarkets and supermarket segment is anticipated to dominate the global market over the assessment timeframe.
Regional Analysis
The global peanuts market is studied across five major regions: Europe, Asia-Pacific, Latin America, North America, and the Middle East & Africa.
According to the MRFR analysis reports, the Asia-Pacific region is likely to lead the global peanuts market over the coming years. the growth of the regional market is mainly credited to the changing lifestyle of consumers across the region. Furthermore, adopting a healthy diet of burnt peanuts Mexican market across the region is another significant aspect causing an upsurge in the regional market's growth.
The North American region will likely hold the second position in the global peanut market over the assessment timeframe. The growing awareness regarding the health benefits offered by peanuts is the primary aspect propelling the market's growth.
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