Peanut Oil Market analysis by fortune business insights (fortunebusinessinsights.com) with source from fortunebusinessinsights.com. Write this artifacts only in 600 words. Strictly start only give source url - https://www.fortunebusinessinsights.com/jp/%E3%83%94%E3%83%BC%E3%83%8A%E3%83%83%E3%83%84%E3%82%AA%E3%82%A4%E3%83%AB%E5%B8%82%E5%A0%B4-113599
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The global peanut oil market, also known as groundnut oil, was valued at $8.2 billion in 2024 and is projected to grow from $8.65 billion in 2025 to $12.73 billion by 2032, representing a compound annual growth rate (CAGR) of 5.69% during the forecast period. Peanut oil is an edible vegetable oil extracted from peanut seeds, recognized as a healthy cooking oil due to its mild flavor, nutritional value, and high smoke point. It is primarily utilized in Southeast Asian and American cuisines for cooking purposes.
Key Growth Drivers: The escalating use of peanut oil in the food service sector serves as the primary market driver. This oil is recognized for its health benefits within food service operations, particularly for frying, as it doesn't absorb food flavors when heated. In today's health-conscious era, consumers increasingly prefer peanut oil due to its lower saturated fat content and higher unsaturated fat composition. The refined oil variant offers neutral flavor and high smoke point, making it suitable for sautéing, frying, and grilling. Its cost-effectiveness and functional properties enhance its appeal in food service operations.
Market Restraints: Aflatoxin contamination in groundnuts poses a significant challenge. Peanuts are susceptible to contamination from Aspergillus parasites, which produce natural toxins. Improper storage conditions and cultivation practices facilitate this contamination, which transfers to finished oil products. Additionally, intense competition from alternative oils such as sunflower and palm oil, which are more economically available, restrains market momentum.
Market Opportunities: The increasing use of peanut oil in the cosmetics industry presents substantial growth opportunities. In beauty and skincare products, this oil serves as a popular ingredient in massage oils, lotions, creams, and lipsticks, providing nutritional benefits and skin moisturization while functioning as an effective skin barrier.
By Type: The refined oil segment dominates the market, accounting for the highest share in 2024. Refined oil undergoes purification and bleaching processes, eliminating odors and impurities while offering extended shelf life and high omega-6 fatty acid content. However, unrefined oil represents the fastest-growing segment, driven by increasing consumer preference for natural products despite its shorter storage life and limited high-temperature cooking applications.
By Nature: The conventional segment led the global market in 2024, offering broader availability and affordability compared to organic alternatives. Conventional oil benefits from extended shelf life due to its purification process, making it more accessible worldwide. The organic segment, however, demonstrates higher CAGR growth, fueled by surging consumer trends toward natural ingredients and sustainably sourced edible oils.
By Application: The household segment commands the largest market position, driven by growing home cooking trends and consumer preferences for quality oils. The food service sector emerges as the fastest-growing segment, propelled by increasing quick-service restaurant establishments and evolving social dining trends.
Asia Pacific leads the global market, accounting for the largest share in 2024. China represents a prominent consumer, with peanut production reaching 3,136,000 tons in 2023/2024, according to the U.S. Department of Agriculture. This region's cultural significance of groundnut oil in traditional Asian cuisine and growing population further amplify market growth.
Middle East and Africa secure the second position, with rising household oil usage and increasing private-label player presence driving growth.
North America ranks as the third-largest region, benefiting from robust manufacturing capacity and rich agricultural landscapes, with the United States showing high-trajectory growth expectations.
Europe maintains considerable market share, with vegan trends encouraging healthier cooking oil alternatives, particularly due to peanut oil's vitamin E and high monounsaturated fat content.
South America remains in early developmental stages but is expected to experience accelerated growth driven by urbanization and expanding food service sectors.
Key market players include Cargill Incorporated, Archer-Daniels-Midland Company, Hain Celestial Group Inc., COFCO, Wilmar International Ltd, Tata Consumer Products, and others. These companies focus on developing innovative products and strategic acquisitions to strengthen market positions and meet evolving consumer demands.