Peanut Oil Market Size - By Type, Application, Distribution Channel Analysis, Share, Growth Forecast, 2024 - 2032

Peanut Oil Market Size

The global peanut oil market size was valued at USD 10.8 billion in 2023 and is estimated to grow at a CAGR of over 3.4% from 2024 to 2032, driven by increasing consumer awareness of its health benefits, such as promoting heart health and managing cholesterol. The demand for cold-pressed and unrefined peanut oils is rising, particularly among health-conscious consumers. Growth is most notable in the Asia-Pacific region, where peanut oil is a cooking staple.
 

In terms of applications, peanut oil is extensively used in the food industry for frying and general cooking. It also finds uses in cosmetics and personal care due to its moisturizing properties, and to a lesser degree in industrial applications like biofuels and lubricants. These diverse applications contribute to the market's sustained growth.
 

For instance, the favorable fat composition of peanut oil, with around 50% monounsaturated fats (MUFAs) and 32% polyunsaturated fats, plays a crucial role in its market growth. MUFAs, known for heart health benefits, and polyunsaturated fats, which support overall well-being, make peanut oil appealing to health-conscious consumers. This healthy fat ratio aligns with the growing demand for oils that promote cardiovascular health and reduce cholesterol levels. As more consumers seek plant-based, nutritious cooking oils, peanut oil’s balanced fat profile boosts its popularity in both home cooking and the food service industry, driving its sustained market expansion globally.
 

Peanut Oil Market Trends

The peanut oil industry is experiencing a positive trend driven by increasing health consciousness and the growing demand for natural and organic products. Consumers are increasingly recognizing the health benefits of peanut oil, including its heart-healthy properties and high smoke point, making it popular for cooking and frying. Additionally, the expanding use of peanut oil in the cosmetics and personal care industry due to its moisturizing properties is boosting market growth. The Asia-Pacific region remains the largest market, led by China and India, while rising competition from alternative oils poses challenges.
 

Peanut Oil Market Analysis

The peanut oil industry is experiencing significant growth driven by rising consumer awareness of health benefits, including its high monounsaturated fat content and favorable omega-6 to omega-3 ratio. The increasing demand for natural and organic oils, along with a surge in the food service industry, particularly in Asian cuisines, is further propelling market expansion.
 

Additionally, the growing trend towards plant-based diets and cooking at home has led to an uptick in peanut oil usage for frying and sautéing. Upcoming trends include the development of flavored peanut oils and innovations in sustainable sourcing practices, as well as potential market penetration through e-commerce platforms, catering to health-conscious consumers seeking convenient shopping options.
 

Refined peanut oil segment was valued at USD 6 billion in 2023, and it is anticipated to expand 3.5% of CAGR during 2024 to 2032, due to its widespread use in cooking, frying, and food processing. Its high smoke point and neutral flavor make it a preferred choice for both household and commercial kitchens.
 

Additionally, refined peanut oil undergoes extensive processing, which enhances its stability and shelf life, appealing to manufacturers and consumers seeking quality and durability. The growing trend of healthy cooking options further bolsters its popularity, as refined peanut oil is rich in antioxidants and promotes heart health. With rising demand for healthy cooking oils, the refined peanut oil sector is poised for continued growth and expansion.
 

The peanut oil market from food industry segment was valued at USD 6.5 billion in 2023 and gained 3.4% CAGR from 2024 to 2032, due to its extensive use in cooking, frying, and food preparation, particularly in Asian, African, and Middle Eastern cuisines. Peanut oil’s high smoke point makes it ideal for deep frying, enhancing its demand in restaurants and food service outlets. The rising popularity of convenience foods and ready-to-eat products has also spurred its use in processed food production.
 

Additionally, the food industry benefits from peanut oil's health positioning, as it contains heart-healthy fats, which appeals to health-conscious consumers. Growing trends in plant-based and organic foods are further driving the use of peanut oil as a preferred ingredient in packaged foods, expanding its presence in global food markets.
 

The peanut oil market from offline segment was valued at USD 9.4 billion in 2023 and gained 2.3% CAGR from 2024 to 2032, driven by the widespread availability of the product in supermarkets, hypermarkets, and grocery stores. Consumers prefer dates and peanut oil from physical outlets due to the ability to inspect the product's quality, check expiration dates, and compare brands before purchase.
 

Additionally, bulk buying options and the ease of access to trusted local stores make offline channels more convenient for many buyers. Traditional brick-and-mortar stores also provide promotional offers and discounts, attracting cost-conscious consumers. In rural and semi-urban areas, where online penetration is lower, offline retail remains the primary distribution channel, further reinforcing its dominance in the market.
 

China peanut oil market size dominated around USD 2.2 billion in 2023 and poised to expand at a 3.1% CAGR through 2032, due to its vast peanut cultivation and consumption base. As one of the largest producers and consumers of peanut oil, China benefits from its extensive agricultural infrastructure and favorable growing conditions for peanuts. The high demand for peanut oil in Chinese cuisine, particularly for frying and stir-frying, reinforces its market dominance.
 

Additionally, the rising disposable income and shift towards healthier cooking oils further boost domestic consumption. China's strong supply chain and ability to process and export peanut oil also contribute to its leadership in the market. Government initiatives promoting agricultural efficiency and food security enhance China's competitive edge, ensuring its continued dominance in the peanut oil sector.
 

Peanut Oil Market Share

The competitive landscape for the peanut oil industry features key global players such as Adani Enterprises, Archer Daniels Midland (ADM), Cargill, COFCO, Lorenzati Ruetsch y Cia, Louis Dreyfus, and Olam International. These companies leverage their extensive supply chains, vast agricultural expertise, and advanced processing technologies to maintain strong market positions. ADM, Cargill, and Louis Dreyfus dominate due to their global footprint and robust distribution networks, providing a competitive edge in both domestic and international markets.
 

 COFCO plays a critical role in China’s peanut oil sector, benefiting from local access to raw materials and peanut oil market demand. Olam International and Adani Enterprises excel in supply chain efficiency and strategic sourcing, with a strong presence in emerging markets. Meanwhile, Lorenzati Ruetsch y Cia, based in Argentina, focuses on regional strengths, emphasizing quality and premium-grade peanut oil. Competition revolves around sustainable practices, cost efficiency, and expansion into value-added product segments like organic and flavored oils.
 

Peanut Oil Market Companies

Major players operating in the peanut oil industry are:

• Adani Enterprises
• Archer Daniels Midland
• Cargill
• COFCO
• Lorenzati Ruetsch & Co.
• Louis Dreyfus
• Olam International
• The Hain Celestial Group
• The J.M. Smucker
• Wilmar International
   

Peanut Oil Industry News

• In October 2023, Bunge, a global leader in agribusiness, food and ingredients, through its Bunge Loders Croklaan JV with IOI Corporation Berhad, entered into a definitive asset purchase agreement with Fuji Oil New Orleans, LLC (Fuji Oil) to acquire its newly constructed, port-based refinery located in IMTT (International-Matex Tank Terminals) Avondale Terminal, Louisiana. The state-of-the-art facility has multi-oil refining capabilities and will enable Bunge to expand its existing customer base.
   
• In March 2022, Shree Ram Proteins Ltd diversified its business and announced its plan to set up a new oil refinery. The company ordered a state-of-the-art refining plant for the new business segment. The company will launch rapeseed oil, groundnut oil, and cottonseed oil by the end of January 2023. It comes under the category of refined edible oil and shall cater to the company's domestic market.
   

This peanut oil market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2021 to 2032, for the following segments:

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Market, By Type

• Refined peanut oil
• Unrefined peanut oil
• Peanut oil blends
• Cold-pressed

Market, By Application

• Food industry
• Cosmetics and personal care
• Industrial applications
• Others

Market, By Distribution channel

• Online retail
• Offline retail

The above information is provided for the following regions and countries:

• North Americas
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa