|Fastest Growing Market:||North America|
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The peanuts market is projected to register a CAGR of 4.5% during the forecast period, 2022-2027.
Due to the COVID-19 outbreak, the peanut exporting countries were hard hit by the decline in demand in importing countries amid the lockdown. Additionally, manufacturing industries in most of the developing nations were also closed for months. This resulted in a decline in demand for peanuts globally. However, the peanut demand has returned to pre-COVID-19 levels currently, and it is expected to increase during the forecast period as exporters are experiencing demand from Southeast Asian countries and the European region.
As of 2019, China and India are the largest consumers and exporters of peanuts in the world, accounting for more than 36.0% of the global consumption. However, peanut consumption increased dramatically in Senegal at the rate of 12.0% during 2016-2018.
Scope of the Report
Peanuts are oval-shaped nuts commercially distributed as pulses and oilseeds. Peanuts are widely used in the food and beverage industry in the form of oil, flour, snacks, and peanut butter. The peanuts market includes the production analysis (volume), consumption analysis (value and volume), import analysis (value and volume), export analysis (value and volume), and price trend analysis. The market is also segmented by geography (North America, Europe, Asia-Pacific, South America, and Africa). The report offers the market size and forecasts in terms of volume in metric tons and value in USD thousand for all the above segments.
|Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)|
Key Market Trends
Increasing Demand in the International Market
India, the United States, and Argentina are the major exporters of peanuts globally. The increasing demand for nut-based snacks, nut butter, and protein-rich foods is expected to drive the high demand for peanuts globally over the forecast period, thereby encouraging higher exports. The Netherlands, Germany, and the United Kingdom are the three countries that offer ample opportunities to exporters of peanuts in developing countries. In the future, the European market for peanuts is expected to grow due to the changes in the consumption patterns of customers, as plant-based protein is gaining popularity instead of meat-based protein. With people becoming more interested in healthy eating, peanuts are expected to become an important source of unsaturated fats, fiber, proteins, vitamins, and minerals.
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China is the Major Producer of Peanuts
China is the world's leading producer of peanuts, accounting for nearly 41.0% of the total output. In 2019, China was the biggest peanut producer, with a production of 17.5 million metric ton. India, Nigeria, and the United States followed with about 6.8, 3.0, and 2.5 million metric ton, respectively. In 2018, production of peanuts decreased in India, the United States, and Senegal due to adverse weather conditions especially delayed and irregular rainfall. The increased demand from major importers such as Vietnam, Thailand, and Japan led China to increase its production, which grew from 17.1 million metric ton in 2017 to 17.5 million metric ton in 2019. The market growth is expected to bolster over the forecast period globally, owing to the demand from processed industries such as peanut snacks, a widely consumed snack in the Asia-Pacific region.
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Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
5. MARKET SEGMENTATION
5.1 Geography (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
5.1.4 South America
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
7. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET
Frequently Asked Questions
What is the study period of this market?
The Global Peanuts Market market is studied from 2017 - 2027.
What is the growth rate of Global Peanuts Market?
The Global Peanuts Market is growing at a CAGR of 4.5% over the next 5 years.
Which region has highest growth rate in Global Peanuts Market?
North America is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Peanuts Market?
Asia-Pacific holds highest share in 2021.