Peanuts Market Size, Share, and Industry Analysis By Form (Raw, Roasted, Powder, and Others), By Application (Bakery and Confectionery, Dairy, Functional Food, Retail, and Others), and Regional Forecast till 2032

The global peanuts market is experiencing strong growth driven by the rising knowledge of their health properties, including high protein content and heart-healthy fats. Peanuts are becoming more popular as a plant-based protein substitute as more people turn to plant-based diets, so increasing market demand. Consumption of peanuts, popular in developed and developing countries in snacks, confectionery, and bakery products, is on the rise. Peanut butter substitutes and functional snacks are among the peanut-based goods innovations offering fresh chances. The peanut market is well-positioned for steady expansion in the next years owing to robust production bases in continents such as Africa, North America, and Asia Pacific.

• According to the United States Department of Agriculture, the U.S. produced 5.93 billion pounds of peanuts in 2021.

Peanuts Market Driver

Increasing Demand for Snack Foods, Health Benefits of Peanuts, and Rising Popularity of Plant-Based Proteins to Foster Market Growth

Particularly in both developed and developing markets, the demand for peanuts is increasing worldwide since they are used in snacks including peanut butter and granola bars. Particularly with the rising popularity of quick and healthy snack options, peanuts' versatility, long shelf life, and low cost make them a favorite choice.

Rising recognition of peanuts' nutritional advantages, including high protein content and fats good for the heart, is driving market expansion. Fiber and vitamins in addition to calories are helping peanuts become popular for their part in supporting cardiovascular health and general well-being as people turn to better diet choices.

Peanuts are becoming more of a plant based protein source as more individuals adopt plant based diets. Particularly in items like plant based burgers and protein bars, their presence in vegan and vegetarian diets is driving a rise in the peanut industry as customers choose sustainable and healthy choices.

Peanuts Market Restraint

Price Fluctuations, Pest and Disease Risks, and Allergy Concerns May Affect Market Expansion

Extempore, crop yields, weather patterns, and disturbances in the global supply chain can all cause changes in peanut pricing, which in turn influence market equilibrium. Peanut costs are uncertain due to these variables, which compound difficulties for consumers and producers in terms of affordability and budgeting.

Peanuts can be weakened by several diseases and pests, hence lower the quality of the harvest and lower production, so restricting the general supply in the marketplace. Further complicating the supply chain and availability of peanuts are shortages and increased prices from these difficulties.

Particularly in areas of high allergy rates, peanut allergies are a major worry that reduces the consumer appeal of the market for certain demographics. Particularly in industries like food production and treats, where peanuts are a common ingredient, this health issue affects demand.

Peanuts Market Opportunity

Expansion of Plant-Based Food Products, Growth in Developing Markets, and Innovative Peanut-Based Products to Offer New Market Avenues

Vegan and vegetarian diets are becoming more popular, so plant based protein options are in high request, and peanut based products are now in favor. Gifting a sustainable, high protein answer for people wanting to cut back animal based protein consumption, these items fit now's health trends.

The demand for packed peanut goods and snacks is being supported by urbanization as well as increasing income levels in developing countries. Growing middle-class populations are driving peanut use in several processed formats as consumers look for fast, on-the-go food alternatives.

The creation of pioneering peanut based offerings, such as peanut butter substitutes and health conscious snacks opens large avenues for expansion in the industry. These items satisfy the need for nutrient dense snacks that are savoury and practical as people look for healthier alternatives.

Segmentation

Key Insights

The report covers the following key insights:

• Global Production and Consumption Statistics of Peanuts, by Key Countries
• Key Health Benefits and Nutritional Value of Peanuts
• Major Market Drivers, Trends, and Investment Opportunities
• Business Strategies Adopted by Key Players and Key Industry Developments (Mergers, Acquisitions, Partnerships)
• Overview: Regulatory Scenario and Government Policies Affecting Peanut Production and Trade

Analysis by Form

By form, the Peanuts market is divided into raw, roasted, powder, and others

Used mostly in cooking and peanut oil manufacturing, raw peanuts have great market share thanks to their versatility in several food uses. For both house and industrial applications, this part of market has constant growth propelled by demand.

Driven by their popular use as snacks and in processed food items, roasted peanuts account for a good part of the market. Given that roasted peanuts are a favourite snack option, the sector is expanding considerably, and their demand is rising.

The market is growing most quickly for peanut powder, which is found in protein bars, baking, and health oriented cuisine. With the increase of health conscious shoppers looking for low-fat, protein-dense substitutes, this sector is enjoying great demand in plant based and nutritional items.

Analysis by Application

By application, the Peanuts market is divided into bakery and confectionery, dairy, functional food, retail, and others

Because they are extensively used in pastries, cookies, and candies, which have a large market share, peanuts have a major use in bakery and confectionery items. Rising use of peanuts in different baked goods and sweets is driving this sector.

Peanuts in the dairy industry help to improve the taste and consistency of items like dairy based snacks and peanut butter. Peanut butter's popularity and increased need for almond based dairy replacements are driving strong expansion in the sector.

As customers move toward a more healthy and nutrient rich diet, functional foods peanut based snacks and fortified foodstuffs are seeing strong development. This fad helps to drive the demand for peanuts in this context.

Rising consumer demand for quick, on-the-go snacks is driving the fast growth of the retail sector, which comprises bagged peanuts and peanut snacks. Because more people are including peanuts in their daily snacking routine, this industry is increasing the most quickly.

Regional Analysis

Based on region, the Peanuts market has been studied across North America, South America, Europe, the Middle East & Africa, and the Asia Pacific

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With traditional use and rising demand for processed peanut items driving high consumption levels, countries like India and China top peanut production in the Asia Pacific region. Significant development in both output and consumption in this area helps underwrite its hegemony in the world market.

Particularly in the United States, North America has a well developed peanut sector with high demand for plant based protein substitutions, snacks, and peanut butter. As customers more and more turn to peanuts for their nutritional advantages and ease of use, the market in this area is steadily expanding.

Driven in part by rising local use since peanuts are appreciated for their affordability and nutritional value, Middle East & African nations, including Nigeria, are seeing a belt in peanut production. The great market growth is partly driven by the increasing dependence on peanuts for protein supply in this area.

Key Players Covered

The report includes the profiles of the following key players:

• Hormel Foods, LLC – U.S.
• 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.
• Wilco Peanut Company – U.S.
• Cargill, Incorporated – U.S.
• Whitley's Peanut Factory – U.S.

Key Industry Players

• In 2023, Olam Group, a global leader in the agriculture sector, announced an expansion of its peanut processing facilities to meet the rising demand for peanut products.
• In 2024, J.M. Smucker launched a new line of organic and healthier peanut butter variants catering to health-conscious consumers.
• In 2023, ADM entered a partnership with a major food company to enhance its peanut product offerings, focusing on sustainable sourcing and processing methods.