Peanuts Market: Increasing Demand for Nutrient-Rich Snacks and Surging Popularity of Plant-Based Proteins to Fuel the Market Growth

The Peanuts Market size was valued at USD 85.16 Bn in 2022 and is expected to reach USD 102.41 Bn by 2029, at a CAGR of 2.67 %.
Overview of the Peanuts Market
Peanuts are a particularly advantageous reservoir of beneficial fats, protein, and dietary fiber. Additionally, they boast ample quantities of essential nutrients such as potassium, phosphorous, magnesium, and B vitamins. Despite their calorie density, peanuts exhibit a nutrient-rich profile and are characterized by a low carbohydrate content. Peanuts feature a higher concentration of healthful monounsaturated and polyunsaturated fats compared to saturated fats, rendering them a heart-friendly option when contrasted with fat sources that are predominantly saturated. The detailed and constructive formation of key drivers, opportunities, and unique segmentation outputs structural and optimistic data. Validated using primary as well as secondary research methodology and scope of the Peanuts Market.

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Peanuts Market Dynamics
Increasing Demand for Nutrient-Rich Snacks and Surging Popularity of Plant-Based Proteins are majorly driving the Peanuts Market
Peanuts play a pivotal role in the global food industry, finding applications in diverse products ranging from peanut butter to snacks and confectionery. Their versatility transcends regional boundaries, contributing to the widespread adoption of peanuts in food products consumed in countries such as Germany, China, Canada, and others, thus enhancing the global penetration of the peanuts market. Peanuts, acknowledged as an exemplary source of plant-based protein, stand at the forefront of the global movement towards plant-centric diets. This shift is observable not only in the United States but also in Asian nations where the expansion of the peanuts market aligns with a growing appetite for sustainable, plant-derived protein alternatives. Peanuts, recognized for their high protein and healthy fat content, have become a sought-after option for health-conscious consumers seeking nutritious snacks. This trend extends beyond the United States, where peanuts have a substantial market share, to Asian countries witnessing a surge in the demand for healthful snacks. The global permeation of the peanuts market is fuelled by an escalating preference for conscientious food choices. Weather conditions exert a global impact on peanut crops, influencing the market price and availability of peanuts. The vulnerability of peanuts to climate variations is a shared concern for producers in India, Europe, and other regions where weather patterns can significantly impact crop yields. Government policies and regulations related to agriculture and trade play a crucial role in shaping the market. This influence is evident in countries like Canada and the United States, where government interventions contribute to shaping production levels, pricing structures, and international trade patterns for peanuts.

The globalization of culinary trends serves as a catalyst for the widespread acceptance of peanut-based products. The success of these products in one region has the potential to influence the global market. This is exemplified by the worldwide appeal of roasted peanuts, reflecting a shared taste preference that transcends geographical constraints. Economic factors exert a global impact on peanut consumption, with rising disposable incomes shaping snack preferences. In India, for instance, a country with a substantial presence in the peanuts market, economic growth contributes to an increased consumption of snacks and food products incorporating peanuts. Emerging markets play a pivotal role in propelling the growth of the market, mirroring shifts in dietary habits and increased purchasing power. The peanuts market potential is discernible in the growth observed in European countries, where peanuts constitute a significant commodity in both the agriculture and snack industries. Ongoing research and innovation within the peanuts industry significantly contribute to market growth by fostering the development of novel peanut-based products and processing techniques. This spirit of innovation extends beyond national borders, influencing the global peanuts market and generating consumer interest in countries such as Germany and China. The global initiative to enhance consumer awareness and education regarding the nutritional benefits of peanuts is actively shaping the market. These efforts are not confined to a specific region but rather contribute to the integration of peanuts into diverse diets worldwide, underscoring their potential in markets such as Thailand, Germany, Indonesia, and other global regions.



Increasing Demand for Healthy Snacking and Functional Foods Incorporating Peanuts are creating more opportunities in the Peanuts Market

Addressing the busy lifestyles of consumers in India, where there is a significant peanuts market, involves capitalizing on the prevalent trend of on-the-go snacking. Developing convenient and portable peanut snacks caters to the demand for quick and healthy options, positioning peanuts as a preferable alternative to traditional, less nutritious on-the-go snack choices. Exploring the development of functional foods that incorporate peanuts aligns with the health-conscious preferences of consumers in Germany. By targeting specific health benefits, such as heart health or cognitive function, this approach taps into the growing market for foods offering additional health advantages, positioning peanuts as a functional and health-enhancing ingredient. In the United States, where health and wellness trends strongly influence consumer choices, the peanuts market can capitalize on the growing emphasis on healthier snacking options. With their inherent nutritional benefits, peanuts are positioned as a natural and wholesome snack choice. This strategic opportunity involves positioning peanuts as a healthier alternative to processed snacks, catering to health-conscious consumers seeking nutritious and satisfying snack options. In Asian countries experiencing significant economic growth and dietary shifts, the rising demand for plant-based proteins provides a substantial opportunity for the peanuts market. Peanuts, rich in plant-based proteins, can align with this trend by developing and promoting innovative peanut-based protein products. This strategic move caters to consumers actively seeking plant-derived protein alternatives in their pursuit of a healthier lifestyle. The peanuts market can leverage product innovation and diversification to meet the preferences of consumers in Germany, China, Canada, and other global regions. Introducing new peanut-based products, such as flavoured peanuts, peanut-based energy bars, and other convenient and healthy snack options, fosters consumer interest and loyalty. This approach acknowledges the diverse tastes and preferences of consumers in different markets.


Peanuts Market Segment Analysis
Type:
Revered for their impeccable uniformity in size and robust yields, runner peanuts ascend to a prominent position within the market. Their unwavering consistency in kernel size elevates them as a preferred choice, particularly in the meticulous craft of peanut butter production. This dominance is evident in the Peanuts Market Share of the United States, where the demand for peanut butter remains substantial. Commanding attention with their generous size and distinctive flavor profile, Virginia peanuts are a sought-after variety for direct consumption and often take center stage in the creation of gourmet snack products. Their appeal extends beyond the U.S., contributing to Peanuts Market growth in Asian Countries as consumers embrace their unique taste. These diminutive yet flavor-packed peanuts find artistic expression in the creation of peanut candies and snacks, celebrated for their inherently sweet flavor profile. Their popularity contributes to the global penetration of the peanuts market, reaching regions with a sweet tooth for unique snack experiences. Characterized by a petite stature and a natural sweetness, Valencia peanuts find frequent employment in the artistry of peanut confectionery and emerge as a popular choice for direct consumption. Their market potential in Germany, China, and Canada is notable, reflecting a global appreciation for their distinct characteristics.

Form:
Unveiled in their unadulterated state, raw peanuts serve as a versatile cornerstone for an array of processed peanut products, embodying the essence of natural goodness. The demand for raw peanuts contributes to the overall peanuts market price dynamics. Undergoing the transformative embrace of roasting, these peanuts emerge with an enhanced flavor profile and enticing texture, positioning them as a preferred form for direct consumption and integration into snack products. The Roasted Peanuts Market, driven by consumer preference for enhanced flavor, reflects the influence of this processing method on market dynamics. Cloaked in layers of delectable coatings such as chocolate or sugar, coated peanuts beckon to consumers seeking an indulgent and satisfying snacking experience, be it sweet or savory. This segment, with its diverse offerings, plays a role in the peanuts market segment contributing to the overall market's diversity. Shedding their outer skin results in blanched peanuts, favored in specific culinary applications and revered for their role in peanut butter production. Their unique processing contributes to the differentiation within the peanut commodity market. Ground to a fine powder, peanuts transcend their original form, offering a convenient and versatile ingredient for a diverse range of culinary and dietary applications. The popularity of peanut powder aligns with the trend of health-conscious snacking, impacting the peanuts industry globally. This eclectic category embraces various processed forms, including peanut extracts and specialty variations tailored for niche food applications, illustrating the boundless possibilities within the realm of peanut processing.

Application:
Both raw and roasted peanuts weave their way into diverse culinary creations, imparting not just texture and flavor but also a wealth of nutritional value to an array of dishes. This versatile application resonates with the overarching theme of health-conscious snacking, impacting the global peanuts market. Peanuts become stalwarts in the realm of baked delights and confectionery, contributing their unique texture and rich taste to cookies, cakes, and candies that delight the palate. This application aligns with the global trend of the globalization of food trends, impacting the peanuts market in India and European countries. Through the alchemy of processing, peanuts metamorphose into the beloved spread, peanut butter, and other nut-based spreads that grace breakfast tables worldwide. This application's significance is evident in the government policies and regulations related to agriculture and trade, shaping production levels and pricing structures in countries like Canada and the United States. An emerging star in the line-up, peanut bars emerge as a convenient and nutritionally rich on-the-go snack option, catering to the modern consumer's need for both sustenance and convenience.

This application aligns with the rising demand for healthy snacks, influencing the peanuts market's dominant segment. Peanuts find their way into certain dairy creations, enhancing both flavor and texture, creating a harmonious fusion in select dairy products. This application's potential is recognized in the context of economic factors, where rising disposable incomes impact snack choices, notably in countries like India. Serving as a veritable source of edible oil, peanuts play a pivotal role in cooking and food processing, contributing to the culinary landscape globally. This application is influenced by weather conditions, with climate variations impacting peanut crops worldwide and subsequently influencing market price and availability. This expansive category encompasses a myriad of applications, from peanut-based sauces and dressings to specialty products, showcasing the versatility of peanuts across culinary domains. The focus on organic and non-GMO products is notably influencing this application, catering to the growing demand for healthier and environmentally conscious choices.


Peanuts Market Regional Analysis
In North America peanuts market is witnessing steady growth, driven by multiple factors, including the health-conscious consumer trend and the staple status of peanut butter in households. The United States, a major consumer and producer, significantly shapes the regional market. The market's dynamic nature is influenced by changing dietary preferences, consumer awareness of health benefits, and the rising popularity of plant-based proteins. The Peanuts Market Share of the United States is noteworthy, contributing to the region's dominant position. A significant driver of growth in the North American peanuts market is the prevailing health-conscious consumer trend. Consumers are increasingly seeking natural and nutritious snack options, and peanuts perfectly align with these preferences. The demand for peanuts as a wholesome and minimally processed snack is expected to continue growing. Manufacturers are capitalizing on this trend by promoting peanuts as a guilt-free and nutritious alternative to traditional snacks. Peanut butter remains a staple in North American households and continues to be a major driver of market growth. Its versatile use in sandwiches, spreads, and various recipes contributes to sustained demand. The popularity of peanut butter is expected to persist, with potential for further innovation in flavors, textures, and healthier formulations. Peanut butter's reputation as a convenient and protein-rich spread positions it as a constant in the evolving snacking landscape. The United States of America produces 3.7 million tons of peanuts annually and in 2021, it produced 6.4 million pounds. Only 13 states cultivate groundnuts thanks to their favorable climate. They include Alabama, Texas, Virginia, Oklahoma, Florida, North Carolina, and Virginia, to mention a few. Alabama has the highest production nationwide, with nearly 185,000 acres of peanut plantation. The Asia Pacific region stands out as a key growth area for the peanuts market, experiencing substantial growth driven by the rising population and increasing disposable incomes. The country adds to the top peanut-producing countries in Asia making up 4% of the world’s peanut production.

Peanuts are widely used to produce peanut oil exported to other countries. China and India, with their large populations, are significant contributors to the market's growth. Peanuts are deeply ingrained in Asian culinary traditions, contributing to their widespread use. The Peanuts Market Growth in Asian Countries, particularly China and India, is propelled not only by direct consumption but also through the incorporation of peanuts in diverse food products, affirming their potential as a snack and culinary staple. The country produces 6.3 million tons of peanuts annually, making up 21% of the world’s total production. It’s the second-highest producer of peanuts in the world. In India, the crop is planted in two cycles in areas with hot and subtropical climates like Orissa, Karnataka, Gujarat, Maharashtra, Andhra Pradesh, and Tamil Nadu. Karnataka and Tamil Nadu produce 15% of India’s total peanut production, while Gujarat and Andhra Pradesh produce 24% and 28%, respectively. As a result, the nuts are produced in different varieties, including red nata, Spanish, and bold. India exports most of its nuts to Pakistan, Malaysia, and Indonesia before selling them to the world. In Europe peanuts market exhibits nuanced growth influenced by changing consumer preferences and a focus on healthy snacking. The market benefits from increasing awareness of the nutritional benefits of peanuts, positioning them as a wholesome and protein-rich snack. The demand for peanut-based products, such as peanut butter and snacks, is rising, driven by the growing popularity of plant-based diets. The Peanuts Market Global Penetration is evident in Europe, where peanuts are becoming a more integral part of modern and convenience-oriented food products.



Peanuts Market Competitive Landscape

The competitive landscape for the peanuts market is characterized by a dynamic interplay among key players vying for market share and exploring opportunities in various regions. As the demand for peanuts and peanut-derived products continues to rise globally, competition within the industry intensifies. Several factors contribute to shaping the competitive dynamics in the market. Prominent participants in the market include Olam International Limited, a global agri-business with a strategic focus on peanut shelling, as well as other major industry players such as Cargill, Archer Daniels Midland Company (ADM), and various regional and local players. These companies play a pivotal role in influencing the Peanuts Market Share of the United States, Asia, Europe, and other key regions. Olam International Limited (Olam), a leading global agri-business, has significantly expanded its presence in the peanut shelling sector in the United States through the acquisition of Brooks Peanut Company for USD 85.0 million. This strategic move not only reinforces Olam's position as the third-largest peanut seller in the US but also contributes to its Peanuts Market Share of the United States. Brooks, currently the sixth largest peanut producer and seller in the country, processes approximately 110,000 Farmer Stock Tons (FST) with an annual capacity of 175,000 FST.

Founded in 1959 and headquartered in Samson, Alabama, Brooks plays a crucial role in the Southeast peanut growing region, showcasing the Market growth in Asian Countries. This acquisition aligns with Olam's commitment to integrating its value chain into direct farm procurement and shelling, further contributing to the Peanuts Market penetration. The expansion into new regions in Alabama and Florida enhances Olam's ability to offer differentiated products globally, tapping into the peanuts market potential in Germany, China, and Canada. By acquiring Brooks, Olam strategically positions itself to navigate climate risks with a diversified presence in various peanut-growing areas, contributing to the overall growth of the peanuts industry. In a related development, Planters, a leading snack nut brand in the United States, has introduced a new voice for its iconic mascot, Mr. Peanut. Emmy Award-nominated actor and former "Saturday Night Live" star, Bill Hader, will lend his distinctive voice to Mr. Peanut, a move that aligns with considerations of the peanuts market price. This introduction coincides with the launch of the new Planters NUT-rition Sustaining Energy Mix, contributing to the brand's efforts to capitalize on the roasted peanuts market. Peter Cotter, Brand Manager for Planters, expresses excitement about Bill Hader's suitability for the role, emphasizing the alignment of his voice, sense of humor, and personality with Mr. Peanut's character. The integrated marketing campaign for Planters NUT-rition Sustaining Energy Mix, including "GO-tivations," reflects Planters' recognition of the market in India and aims to provide consumers with the energy boost offered by the wholesome fuel in the new snack. This campaign further underscores the broader influence of peanuts crops in European countries. The competitive landscape in the peanuts market is shaped by strategic moves, product innovation, global expansion, and a commitment to quality and sustainability. Companies that successfully navigate these factors can position themselves favorably in a market that continues to evolve in response to changing consumer preferences and global economic dynamics.


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Global Peanuts Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 85.16 Bn.


Forecast Period 2023 to 2029 CAGR:
2.67%
Market Size in 2029:
US $ 102.41 Bn.


 Segments Covered:
by Type
Runner
Virginia
Spanish
Valencia


by Form
Raw
Roasted
Coated
Blanched
Powder
Others


by Application
Direct Consumption/Culinary purpose
Bakery And Confectionery
Peanut Butter And Spreads
Peanut Bars
Dairy Products
Oil Production
Others


by Distribution Channel
Hypermarkets And Supermarkets
Convenience Stores
Specialty Stores
E-Commerce
Others



Peanuts Market, by Regions
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players of the Peanuts Market
1. Olam International (Singapore)
2. Kraft Foods Inc. (United States)
3. Hampton Farms Inc (United States)
4. Star Snacks Co. LLC (United States)
5. Wilco Peanut Company (United States)
6. ADM - Archer Daniels Midland Company (United States)
7. Cargill, Incorporated (United States)
8. Adani Wilmar (India)
9. Hormel Foods, LLC (United States)
10. John B. Sanfilippo & Son, Inc. (United States)
11. Whitley's Peanut Factory (United States)
12. Frito-Lay North America, Inc. (PepsiCo) (United States)
13. The Peanut Shop of Williamsburg (United States)
14. Haldiram's India Pvt Ltd (India)
15. Margaret Holmes (United States)

Frequently Asked Questions and Answers about Peanuts Market

1. Who are the key players in the peanuts market?
Ans: Major players in the peanuts market include Olam International Limited, Cargill, Archer Daniels Midland Company (ADM), and various regional players.

2. What factors contribute to the growth of the peanuts market?
Ans: Factors such as rising consumer awareness of health benefits, product diversification, and global demand for peanuts influence market growth.

3. How does the competitive landscape look in the peanuts market?
Ans: The peanuts market is competitive, marked by strategic acquisitions, product innovation, and a focus on global sourcing and supply chain integration among key players.

4. What regions show significant potential in the peanuts market?
Ans: Regions such as the United States, Asia (including China and India), Europe (including Germany), and Canada demonstrate substantial potential for peanut market growth.

5. How do economic factors impact the peanuts market?
Ans: Economic factors such as commodity price fluctuations and currency exchange rates influence market dynamics, affecting pricing and competitiveness.