Consumers are changing preferences towards healthy food which has numerous health benefits and is convenient & flavorsome. Drinkable peanut powder is gaining attention from a health-conscious consumer base as it exhibits high protein content and flourishing bakery & confectionery industry.
A positive platform was created due to growing demand for plant-based proteins with growing vegan population and increase in demand for non-GMO, natural & organic foods. This is spurring the growth of the global drinkable peanut powder market. The growth of the market is also fueled by the growing inclination of the consumer towards healthy beverages, growing demand for high-end peanut products, and protein-rich food. Further, growing applications of drinkable peanut powder in flavored beverages, smoothies & shakes, and presence of strong distribution channels are some of the key aspects that are escalating the growth of the global market. Drinkable peanut powder also helps to boost the nutrition & flavor of the favorite drinks and is setting a trend on ways to enjoy peanuts. Also, key players are investing in new product launches and business expansion. These factors are also fostering the growth of the market. In November 2017, Protein Plus, LLC rolled out natural peanut protein powder drink, Protein Energy Power® which gained popularity among consumers. Furthermore, the rise in desire for peanut-based beverage supplement from geriatric population who are at risk of protein-energy malnutrition can have lucrative opportunities for the growth of the global market.
The global drinkable peanut powder market is categorized based on product type, distribution channel, application, and region. The product type segment is comprised of insoluble (particle) and soluble (powder). Online retailing, departmental stores, and super market & hypermarket are the distribution channels of the global market. The drinkable peanut powder has applications in smoothies, shakes, and flavored beverages.
North America is anticipated to contribute majorly to the global drinkable peanut powder market during the forecast period. The major factor boosting the market in this region includes increase in demand for drinkable peanut powder owing to its health benefits & high protein content. The growing inclination of the consumer towards smoothies & shakes is also driving the growth of the market in this region. Asia Pacific is estimated to be the fastest-growing region in terms of revenue. Growing consumer base and increase in awareness regarding drinkable peanut powder are the factors that are fostering the growth of the market in Asia Pacific.
Peanut Butter & Co., Bell Research Companies, Santa Cruz, Golden Peanut and Tree Nuts, The J.M. Smucker Company, Nutrinity Foundation, BetterBody Foods, Protein Plus, LLC, Sukrin Ltd., and The Tru-Nut Company are some of the predominant players that are operating in the global drinkable peanut powder market.