According to HTF Market Intelligence, the Global Peanuts Market market to witness a CAGR of 5.7% during forecast period of 2023-2028. Global Peanuts Market Breakdown by Application (Direct Consumption, Bakery & Confectionery, Breakfast Cereals & Snacks, Butter & Spreads, Dairy Products) by Type (Runners, Spanish, Virginia, Valencia) by Sales Channel (Online, Offline) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Peanuts Market market size is estimated to increase by USD xx Billion at a CAGR of 5.79% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 1.2 Billion.
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The peanuts market refers to the global industry involved in the cultivation, processing, and distribution of peanuts, which are oilseeds grown for their edible seeds. Peanuts are consumed as snacks, used in confectionery products, and processed into various peanut-based food items, such as peanut butter, peanut oil, and peanut flour.
Peanuts Market market – Key Segment Analysis
The market share growth by the Runners segment will be significant during the forecast period. The segment is driven by the Health Benefits: Peanuts are considered a nutrient-dense food, rich in essential minerals, vitamins, and antioxidants. The perceived health benefits associated with peanuts have fueled their consumption, driving market growth..
Peanuts Market market – Competition Analysis
The global Peanuts Market market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are Olam International, Hampton Farms, Golden Peanut and Tree Nuts, Aunt Ruby’s., Hardy Farms Peanuts, HINES NUT COMPANY, Royal Nut Company, Rizhao Yatai Foodstuffs Co.Ltd, Truly Good Foods, Jabsons Foods Pvt Ltd, GRAU NUTS, Credence Agri Commodities Solutions Pvt. Ltd.
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Peanuts Market
Market Drivers
• Health Benefits: Peanuts are considered a nutrient-dense food, rich in essential minerals, vitamins, and antioxidants. The perceived health benefits associated with peanuts have fueled their consumption, driving market growth.
Market Trend
• Increasing Health Consciousness: Growing awareness about the health benefits of peanuts, such as their high protein content, fiber, and heart-healthy monounsaturated fats, has driven the demand for peanuts as a nutritious snack option.
Market Opportunities
• Product Innovation: There is an opportunity for the development of innovative peanut-based products to cater to evolving consumer demands, including flavored peanuts, protein bars, and peanut-based dairy alternatives.
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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