Market Size of Peanut Oil Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.05 Billion |
| Market Size (2029) | USD 12.38 Billion |
| CAGR (2024 - 2029) | 2.30 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Peanut Oil Market Analysis
The Peanut Oil Market size is estimated at USD 11.05 billion in 2024, and is expected to reach USD 12.38 billion by 2029, growing at a CAGR of 2.30% during the forecast period (2024-2029).
- With a high nutritional profile and people looking for immune-boosting ingredients, there is an increase in retail demand for peanut oil. According to the study published in the International Union Of Pure And Applied Chemistry journal by Beare-Rogers, peanut oil is naturally low in saturated fats, cholesterol-free, and trans fats.
- Oleic acid, a monounsaturated fatty acid (MUFA), accounts for 52% of its composition; linoleic acid, a polyunsaturated fatty acid (PUFA), accounts for 32%. Additionally, the oil is a source of naturally occurring substances like antioxidants, vitamin E, phytosterols, squalene, and p-coumaric acid, all of which help preserve good health. Due to its high oleic acid content, peanut oil has a wide range of advantageous biological benefits.
- Peanut oil has a wide range of applications, not confined to the food industry but in many others, including the cosmetic and personal care industry. For instance, it is used externally for application on the skin to moisturize dry skin and for skin conditions like eczema, making it a part of many personal care products. It is also a good source of vitamin E and possesses antioxidant properties.
- Furthermore, like all processed vegetable oils, refined peanut oil is refined, bleached, and deodorized. By going through this procedure, the oil loses its allergic protein component and becomes nonallergenic. According to the Peanut institute, the primary form of peanut oil used in international fast-food franchises is refined. Refined peanut oil is a flavorful cooking oil devoid of trans fats and allergens and very stable. Due to its high smoke point and extremely low saturated fat content, refined peanut oil is a favorite oil for frying.
- According to the "Food Allergen Labeling and Consumer Protection Act of 2004," section 203, subsection 7, part C.c.1.qq.2.1, under the Amendments, highly refined oils are exempt from the definition of a serious food allergen, so no petition is required, thus increasing the utilization of refined peanut oil across the globe.
