Drinkable peanut powder is made by crushing the roasted peanuts. Crushing removes the natural oil and remaining particles are later grounded into the fine powder that contains few calories and less fat when compared to raw peanut butter. Such drinkable peanut powder is used to enhance the flavor of a wide range of beverages like smoothies. These powders are gaining immense popularity among people who desire to have a healthy diet and also among sports people owing to the fact that it is a rich source of protein which makes them fit for energy drinks.
The ongoing advancements in the field of the food and beverage sector globally are one of the key factors fuelling the growth of the global drinkable peanut powder market. Also, the propensity of a huge chunk of the population to give a try to new dishes and flavors will further boost market growth. It plays a vital role in boosting the demand for these powders. The growing demand for smoothies, dairy products, confectioneries, and such products is providing enough impetus growth to the market. Also, the presence of a large number of manufacturers of confectionery products including spreads and dips is complementing the demand. In addition, the growing preference and inclination of consumers towards functional and nutritious food & beverages is positively tracing the trajectory of the market. Furthermore, the growing penetration of online and retail distribution channels along with an impressive marketing strategy adopted by a majority of retailers and manufacturers to boost the demand for such powder is likely to scale the growth of the global drinkable peanut powder market in the forthcoming years.
The global drinkable peanut powder market can be segmented into the distribution channel, application, product, and region.
By distribution channel, the market can be segmented into online retailing, departmental stores, supermarkets, hypermarkets, and others.
By application, the market can be segmented into flavored beverages, smoothies, and shakes.
By product, the market can be segmented into insoluble and soluble.
North America accounts for the largest share in the global drinkable peanut powder market due to the presence of a strong consumer base in the region. Also, the growing consumer awareness regarding the benefits offered by such drinkable peanut powders when compared to regular peanut butter is likely to further accentuate the growth of the regional market. In addition, the constant launch of new products to meet the surging demands from the consumer is further likely to support the growth of the regional market.
Asia Pacific is likely to witness a significant growth rate in forthcoming years due to the growing demand for premium quality peanut products in the region.
Europe is considered as the largest market for groundnuts and thereby it is expected that in forthcoming years it will be the leading region in the global drinkable peanut powder market.
Some of the significant players in the global drinkable peanut powder market are Nutrinity Foundation, BetterBody Foods, Protein Plus, LLC, Sukrin Ltd., The Tru-Nut Company, Peanut Butter & Co., Bell Research Companies, Santa Cruz, Golden Peanut and Tree Nuts, and The J.M. Smucker Company. To cite, Protein Plus, LLC in November 2017 introduced Protein Energy Power, a natural peanut protein powder drink. It has gained immense popularity.
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Having a Master’s Degree in Brewing Technology and overall experience of 6 years in the field of writing, Jerri has been one of the most workaholic and dedicated team members of thefoodbeveragenews.com portal. She has been a part of this portal for 4 years now. Jerri started a career in writing with freelancing and the journey has been worth watching and appraising. She handles the Beverage Industry domain of the portal and along with her team provides all the vital and up-to-the-minute news and reports to the readers in a simple and comprehensible manner.