Peanuts Market Size

Global Peanuts Market Overview

Peanuts Market Size was valued at USD 90.05 Billion in 2023. The Peanuts industry is projected to grow from USD 92.26 Billion in 2024 to USD 109.29 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 2.14% during the forecast period (2024 - 2032). The adoption of a healthy lifestyle and changes in consumption habits are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Peanuts Market Trends

• Growing number of health concerned people is driving the market growth

Market CAGR for peanuts is being driven by the rising number of consumers for peanut based products. Many different food products contain peanuts, which are a significant food crop. They are a crucial source of nutrients, including oil and protein. In addition, they aid in ensuring that you get enough protein from your food and keep a healthy physique. Peanuts are used as a whole nut snack, a component of desserts and sauces to go with other foods, peanut butter, and peanut oil. As a result, the demand for convenience foods like snacks, such as snacks, is rising. Because of this, the market is expected to raise during the projected period due to the improved health advantages and widespread use of peanuts in numerous food products.

Additionally, both raw and processed foods made with peanuts are sold in the market. Due to its numerous uses, the burnt peanuts business in Mexico is expanding daily. These are utilized in both processed foods and as snacks. A sizable portion of the market is controlled by the peanut sector. The mechanism for processing food heavily relies on oils and flours. These are essentials for daily life, which explains the industry's rising expansion in peanut products. Amazing market expansion and rising consumer demand have improved the market's distribution system. These are the specific elements that positively affect the market value of the peanut sector. The growth of the market for pantry dry roasted peanuts is also fueled by the high nutritional values and awareness of health advantages. The market income is also increased by changes in consumption habits and the adoption of a healthy lifestyle.

The intake of peanuts is prohibited for some consumers due to certain people's allergy to them. Reduced supply rates, reduced production rates, and other market limitations are among them. The major companies put up the best possible solutions to rescue the sector from these circumstances. In turn, this will lead to a rise in the production and consumption of burnt peanuts in Mexico, which will last for the foreseeable future.

For instance, over the projection period, the high demand for peanuts is anticipated to drive worldwide food consumption of protein-rich foods and boost exports. The market's expansion has also been aided by the rising demand for peanut oil in the pharmaceutical and personal care industries. In the "on the go" product category, KP Nuts introduced two new products: fruit and nut energy mix and orange nut urge energy blend. The company added new Salted Caramel and Smokehouse BBQ flavors to their existing centre flavour line. The company's newest product introduction is intended to appeal to a younger, female market. Thus, result in driving the peanuts industry revenue.

Segment Insights

Peanuts Form Insights

The Peanuts market segmentation, based on Form includes Raw, Roasted, Blanched, Powder, and Others. The raw form dominated the market in 2022. The raw form has the largest demand in comparison to other forms of peanut market because of its wide use in food and beverage industry.

Figure1: Peanuts Market, by Form, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Peanuts Application Insights

The Peanuts market segmentation, based on application includes Direct Consumption/Culinary purpose, Bakery and Confectionery, Peanut Butter and Spreads, Peanut Bars, Dairy Products, Oil Production, and Others. The bakery and confectionery segment held the largest market share in 2022. Due to the increasing awareness of health benefits of peanuts people have started to use peanuts in bakery foods.

Peanuts Distribution channel Insights

The Peanuts market segmentation, based on distribution channel, includes Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, E-Commerce, and Others. The Hypermarkets and Supermarkets generated the most income in 2022. Due to their accessibility and consumers' propensity to physically check the quality of their purchases, hypermarkets and supermarkets continue to expand.

Peanuts Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia-Pacific Peanuts market area will dominate this market, owing to an increase in the number of consumers of peanuts in the region. In addition, the growing number of industries producing peanut based snacks will boost market growth in this region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: PEANUTS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Peanuts market accounts for the second-largest market share due to the rising demand of peanut based snacks because of their health benefits and decrease in demand of unhealthy snacks. Further, the German peanuts industry held the largest market share, and the UK Peanuts was the fastest growing market in the European region

The North America Peanuts Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to expanding awareness of health benefits of consuming peanuts among the people in the region. Moreover, China’s market of peanuts held the largest market share, and the Indian peanuts industry was the fastest growing market in the Asia Pacific region.

Peanuts Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Peanuts market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Peanuts industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Peanuts industry to benefit clients and increase the market sector. In recent years, the Peanuts industry has offered some of the most significant advantages to food industry. Major players in the Peanuts market, including Olam International (Singapore), Kraft Foods Inc. (U.S.), Hampton Farms Inc (U.S.), Star Snacks Co. LLC (U.S.), Virginia Diner (U.S.), and others, are attempting to increase market demand by investing in research and development operations.

The Archer-Daniels-Midland Company, sometimes referred to as ADM, is a American firm that trades commodities and processes food. Cereal grains and oilseeds are processed at the company's more than 270 factories and 420 crop procurement sites across the world into goods that are used in the food, beverage, nutraceutical, industrial, and animal feed sectors. In 2021, ADM sold property to Sonny Perdue, who would later become secretary of agriculture, in 2017 for a small fraction of its estimated worth, according to a Washington Post investigation. Concerning whether the transaction constituted to bribery, ethics attorneys expressed both legal and ethical reservations about it. In line with the Post's assertion, ADM "sold the property at a small fraction of its assessed worth just as it poised to gain from a favorable secretary of agriculture.

Kraft Foods Inc. was a worldwide conglomerate that produced food, beverages, and confections, in Northfield, Illinois, a suburb of Chicago, the business was headquartered. One of the four "majors" on the LPGA Tour, the Kraft Nabisco Championship, was sponsored by Kraft Foods Inc., an official partner and sponsor of Major League Soccer. The business additionally supported the collegiate football bowl game known as the Kraft Fight Hunger Bowl. In June 2020, By eliminating $2 billion in expenses via efficiency improvements by 2024, reinvesting in its brands, and employing a new platform-based strategy to redefine how the firm views its goods and the markets in which they compete, Kraft Heinz expects to regain its position as a leader and experience growth.

Key Companies in the Peanuts market include

• Olam International (Singapore)


• Kraft Foods Inc. (U.S.)


• Hampton Farms Inc (U.S.)


• Star Snacks Co. LLC (U.S.)


• Virginia Diner (U.S.)


• Archer Daniels Midland (U.S.)


• Diamond Foods, Inc. (U.S.)

Peanuts Industry Developments

September 2022: Researchers from ICRISAT collaborated with scientists from the Junagadh Agricultural University to create India's first "Spanish type" high oleic peanut. Comparing it to the original Virginia-type cultivars reveals its advantages. As a result of the new peanut line's high production, drought tolerance, and resistance to foliar diseases, Indian peanut export potential will be improved as well as the revenue of farmers and dealers.

January 2020: Life's Grape, a family-run enterprise in California, invented peanut butter-dipped grapes that were dried on vines. The product is low in sodium, gluten-free, sulphur-free, and Kosher, and it comes in resealable pouches. The company launched this new product line in order to diversify its extensive menu of offerings and to suit the expanding consumer demand for cutting-edge snacks.

November 2019: PB2 Foods, Inc. introduced a new kind of protein powder intended primarily for use in shakes and smoothies. New plant-based protein powder called PB2 Performance Peanut Protein and PB2 Performance Almond Protein are the two versions that are offered by the company. The goods are non-GMO, gluten-free, Kosher, and vegan-certified.

Peanuts Market Segmentation

Peanuts Form Outlook

• Raw


• Roasted


• Blanched


• Powder


• Others

Peanuts Application Outlook

• Direct Consumption/Culinary purpose


• Bakery And Confectionery


• Peanut Butter And Spreads


• Peanut Bars


• Dairy Products


• Oil Production


• Others

Peanuts Distribution Channel Outlook

• Hypermarkets And Supermarkets


• Convenience Stores


• Specialty Stores


• E-Commerce


• Others

Peanuts Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America