Adelanto, United States, July 30,2019- A key factor driving the growth of the global peanut oil market size is the increasing expansion of manufacturing facilities. The demand for peanut oil is increasing at a rapid pace in countries such as the US, Thailand, China, and Vietnam. This is encouraging a large number of vendors in the global peanut oil market to increase their investments in the development and expansion of oilseed processing facilities. This high scale investments in production facilities will lead to the expansion of the global peanut oil market in the next five years.
As per Technavio, the growing popularity of blended peanut oil will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global peanut oil market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global peanut oil market: Growing popularity of blended peanut oil
Peanut oil blends are gaining immense popularity mainly because they are more affordable than conventional peanut oil. Moreover, the blending of cooking oils in different combinations ensure a healthy mix of polyunsaturated and saturated fats in the oil. The blended oils are also known to be resistant to chemical corrosion caused by variations in frying temperatures compared to standalone cooking oils. The adoption of blended peanut oil is expected to increase significantly during the forecast period, thereby, driving the global peanut oil market growth.
“Apart from the growing popularity of blended peanut oil, other factors such as the rising demand for clean-label cooking oils, and the increasing prominence of digital distribution channels will have a significant impact on the peanut oil market worth during the forecast period,” says a senior analyst at Technavio.
Global peanut oil market: Segmentation analysis
This market research report segments the global peanut oil market by distribution channel (offline, and online), and geographic regions (APAC, North America, Europe, MEA, and South America).
The APAC region led the peanut oil market in 2018, followed by Europe, North America, South America respectively. The growth of the peanut oil market in APAC can be attributed to factors such as the long shelf life of peanut oil, and the increasing consumer awareness regarding the health benefits of peanut-based products. The regional peanut oil market is expected to witness rapid growth in terms of revenue during the forecast period.
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