Ground-nut oil is an edible vegetable oil derived mainly through the extraction method. It can be referred to as Arachis oil or peanut oil. The oil can be served as a base for cooking or used to enhance the flavor of underlying foods. This oil has a strong aroma & flavor and is mostly utilized in the food industry.
Ground-nut oil is gaining popularity owing to numerous health benefits associated to it such as the low amount of cholesterol, saturated fats, and trans-fats. The rising demand of ground-nut oil in the food industry as a flavoring agent, growing knowledge and awareness related to the functional advantages of ground-nut oil amongst the end-users are also some of the factors that are propelling the growth of the global ground-nut oil market. Further, the rise in the trend of ground-nut oil owing to cost-effective prices in comparison to other products available in the market is estimated to propel the growth of the market. However, the availability of other healthy and refined alternatives in the market may limit the growth in some emerging markets owing to the increasing purchasing power of consumers. Furthermore, the increasing focus of suppliers on delivering value-added oil products will drive the global ground-nut oil market growth in the forecast period.
The global ground-nut oil market is divided based on type, application, and region. Based on the type, the global market is split into unrefined and refined types. The application segment consists of personal care products, pharmaceutical, and food applications.
Geographically, Asia Pacific is anticipated to dominate the global ground-nut oil market during the forecast period. Factors such as the high production rate of groundnuts and large utilization of groundnut oil as a food ingredient are driving the growth of the market in this region. Europe is estimated to hold the second-most position in the market. This is attributed to the rising healthcare awareness and increasing preference for a healthier alternative to animal fat.
Longda, Cargill Inc., Bunge Limited, Shandong Luhua, Ventura Foods, Corbion N.V., COFCO Group, Qingdao Changsheng Group Company Limited, The Archer-Daniels-Midland Company, Wilmar International, Amanah Oil, Yihai Kerry, Henan Sunshine Group Corporation, Shandong Bohi Industry, and Xiamen Zhongsheng, are some of the major players that are functioning in the global ground-nut oil market.
In 2020, the Yihai Kerry is majorly investing in grain and oil processing plants in China. This project includes corn, rice, peanut, wheat, edible oil refining & bottling, soybean crushing, and sesame processing.
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