Peanut Oil Market Size

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.