The Peanuts market is gaining popularity among various industries owing to its increasing application. Market Research Future, a firm which specializes in market reports related to the Food and Beverage sector among others, recently forecasted in its report on Global Peanuts Market Research Report- Forecast to 2023 that the market will demonstrate a remarkable growth during the forecast period.
Peanuts are enhanced with numerous nutritional benefits such as Vitamin E, Vitamin B2, essential minerals, and others. They are also high in antioxidants which adds to the health benefits obtained from peanuts, thereby fuelling the demand for the product. Peanuts are used in various industries and have multiple uses which is further driving the demand for the product.
Additionally, there is a huge demand for the product for culinary purpose owing to increasing awareness of benefits of peanuts. It has also been observed that the customers are more inclined towards various forms of peanuts available. The most common ways of using peanuts in India is in the form of oil and as roasted snack. Apart from satisfying hunger pangs, consumption of peanuts also makes the skin smooth, supple and younger looking which is adding fuel to the growth of peanut consumption. However, huge investment is required for peanut processing which may hinder the market growth.
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Major Key Players:
With the entry of industry players in the Peanuts segment, a trend of solid, volume- driven growth has been observed in the market. Key players in the Peanuts market are focusing on expansions, acquisitions, mergers and new product launches. New product launch is the main focus of the competitors in order to expand their business and increase their market base. R&D and product innovations are driving the growth of the market. There is continuous efforts by the key players to innovate their product offerings in the market.
The key players profiled in Peanuts market are 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.)
Latest Industry Updates:
Dec 2017 John B. Sanfilippo & Son, Inc. acquired Squirrel Brand, L.P or $31.5 million. Squirrel Brand is one of the leading suppliers of premium roasted nuts and snack mixes under its Squirrel Brand and Southern Style Nuts brands. The acquisition of the Squirrel Brand business provides the company with an established customer base and branded product line which will help in business expansion.
Sept 2017 KP Nuts launched new “on the go”. The product is available in attractive new packaging in four flavors; Fruit and Nut Energy Mix, Orange Nut Fudge Energy Mix, classic flavors Dry Roasted, and Original Salted. The product launch is in line with company’s strategy to acknowledge changing consumer preferences and customize products accordingly.
May 2017 KP nuts launched two new products under “on the go” product range, namely fruit & nut energy mix and orange nut fudge energy mix. The company also expanded its core flavor range with new variants, Salted Caramel and Smokehouse BBQ. Through this product launch, the company aims to target younger, female demographic.
Jan 2017 Amsterdam Commodities N.V. (Acomo) acquired 100% share in nuts trader Delinuts, Netherland based company. The new subsidiary complements the existing activities of group companies in nuts and dried fruits.
The global Peanuts market has been divided into type, form, distribution channel, and region.
On The Basis Of Form: Raw, Roasted, blanched, Powder, others
On The Basis Of Application: Direct consumption/Culinary purpose, Bakery and Confectionery, Peanut Butter and Spreads, Peanut Bars, Dairy Products, Oil Production, others
On the Basis of Distribution channel: Hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, E-commerce, others
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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The global Peanuts market is segmented into North America, Europe, APAC, and Rest of the World (RoW). APEJ is expected to be the fastest growing region over the forecasted period. Asia Pacific region has the major market share followed by North America. Changing life-style has led to adoption of healthy diet by consumers due to which Asia-Pacific is projected to generate a high revenue during the given forecast period.
The Major importers of peanuts include Netherlands, China, Vietnam, Indonesia and Germany. Based on the higher demand for food oils with high mono-unsaturated fatty acids, the import and export of peanuts in the developed countries is found to rise at a steady growth rate. Europe is likely to hold a significant Peanuts market share owing to the rise of aging population in this region.