The Asia Pacific Peanut Oil Market would witness market growth of 4.7% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 521.9 kilo tonnes, showcasing a growth of 4.5% (2019-2022).
Peanut oil, renowned for its high smoke point and neutral flavor profile, finds versatile applications across various culinary endeavors. In the food industry, this segment encompasses a wide array of uses, including frying, sautéing, baking, salad dressings, and marinades. Its ability to withstand high temperatures without compromising flavor or nutritional integrity makes it a preferred choice for deep frying in both commercial and home kitchens. Therefore, the India market will consume 71.4 kilo tonnes of peanut oil in food by 2030.
The China market dominated the Asia Pacific Peanut Oil Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,508.4 Million by 2030. The Japan market is registering a CAGR of 4.1% during (2023 - 2030). Additionally, The India market would experience a CAGR of 5.4% during (2023 - 2030).
The edible vegetable oil obtained from pressing or extracting from peanuts is called peanut oil, often called groundnut oil or arachis oil. It is widely used in cooking and is distinguished by its mild flavor, high smoke point, and adaptability in various culinary applications. With a neutral flavor and a pale-yellow color, this oil is frequently employed in baking and frying due to its resistance to high temperatures. One of the primary drivers of peanut oil adoption is its culinary versatility. Its elevated smoke point makes peanut oil highly suitable for high-temperature cooking, including deep frying.
The growing awareness of health-conscious choices has influenced the adoption of peanut oil. While it is true that peanut oil contains saturated fats, it also boasts a high proportion of monounsaturated and polyunsaturated fats. These healthier fats and vitamin E and phytosterols in peanut oil have positioned it as a relatively better option than other cooking oils. This nutritional profile aligns with consumer preferences for oils that offer health benefits without compromising taste. The increasing popularity of ethnic and specialty foods has driven the adoption of peanut oil. As consumers seek authentic flavors and experiences, the demand for specific cooking oils, including peanut oil, has surged. This trend is particularly evident in many ethnic restaurants and specialized food stores, where peanut oil is frequently used as a significant ingredient in traditional dishes.
Peanut oil can be explored for its potential use in nutraceuticals, which combine nutritional and pharmaceutical elements, aiming to provide health benefits beyond basic nutrition in the Asia Pacific. Peanut oil's properties, such as being a triglyceride with a high smoke point, may make it suitable for certain drug delivery systems in the Asia Pacific. Therefore, due to the above-mentioned factors, the peanut oil market will grow significantly in this region.
Free Valuable Insights: The Global Peanut Oil Market is Predict to reach USD 13.8 Billion by 2030, at a CAGR of 4.3%
Based on Application, the market is segmented into Food, Cosmetics, Pharmaceuticals, and Others. Based on Distribution Channel, the market is segmented into Business To Business, Hypermarket/Supermarket, Online Sales Channels, and Independent Retail Stores. Based on Type, the market is segmented into Refined, and Unrefined. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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