Groundnut Oil Market Expected to Exceed $17.3 Billion by 2034

Groundnut Oil Market Expected to Exceed $17.3 Billion by 2034

The global groundnut oil market is projected to experience steady growth over the next decade, with market size estimates around USD 12-14 billion by 2030. This moderate growth is expected at a CAGR of roughly between 2.5% to 4.5%, according to various industry reports.

Currently valued at USD 10.5 billion in 2024, the market is witnessing significant expansion strategies from major players such as Archer Daniels Midland (ADM) and Cargill. ADM has expanded its sustainable edible oil portfolio, including groundnut oil, through partnerships with farmers to promote regenerative agriculture. Cargill, on the other hand, has invested in sustainable groundnut oil production in India and Africa, supporting smallholder farmers with better farming techniques.

Refined groundnut oil holds a dominant share of 72.3% in the global market by type, and hot-pressed groundnut oil accounted for 69.9% of the market by product in 2024. The food industry remains the largest application segment, capturing 77.2% of groundnut oil demand, with food processing companies using it in processed food manufacturing for its stability during heating and storage.

Supermarkets and hypermarkets hold a substantial market share of 39.2%, capturing both the distribution channel and the consumer market. Households represented 66.6% of global consumption in 2024.

Groundnut oil is widely used in cooking and frying applications due to its mild flavor and high smoke point. It also finds use in cosmetics and skincare products for its moisturizing properties and compatibility with other natural ingredients. In addition, groundnut oil is being explored for its potential in making biodegradable lubricants and biofuels due to its renewable nature and good lubricating properties.

Pharmaceutical companies also incorporate groundnut oil as a carrier oil in certain medicines, ointments, and vitamin supplements.

Looking beyond 2030, while precise global market size specifically for 2034 is not directly available, growth rates suggest a steady expansion consistent with the 2.5–4.5% CAGR. The broader edible oils market, including all variants such as palm, soybean, sunflower oils, is much larger and growing at a CAGR around 4.6%, projecting to over USD 420 billion by 2034.

For instance, the Latin America and the Caribbean groundnut oil market is forecast to grow at a CAGR of about 1.3% in value from 2024 to 2035, reaching a market value of $603 million by 2035. Meanwhile, the Northern America groundnut oil market is expected to grow at a CAGR of approximately 1.7% in value from 2024 to 2035, reaching $883 million in nominal wholesale prices by 2035.

Notable developments include Eurovanille introducing organic-certified groundnut oil for gourmet and health-conscious consumers and the Santee peanut shelling plant securing USD 42 million in funding for an expansion project in 2024.

In summary, the global groundnut oil market is poised for steady growth, with major players investing in sustainable production and innovative uses for this versatile oil.

1. The science behind groundnut oil production and its potential applications in various industries is a subject of ongoing study.
2. Health-and-wellness enthusiasts are increasingly seeking out groundnut oil due to its high monounsaturated fat content.
3. Fitness-and-exercise aficionados can benefit from using groundnut oil in their cooking as it provides essential nutrients for muscle recovery.
4. Renewable-energy advocates are excited about the possibilities of using groundnut oil to create biodegradable lubricants and biofuels.
5. Manufacturing companies are exploring the use of groundnut oil in their processes, given its versatility and renewable nature.
6. Nutritionists recommend groundnut oil as a healthy alternative to other vegetable oils due to its high nutrient content.
7. The industry is keeping a close eye on the groundnut oil market, anticipating continued growth over the next decade.
8. Finance experts predict that the growth of the groundnut oil market will lead to significant opportunities for investors.
9. Energy sector professionals are interested in the potential use of groundnut oil in the production of sustainable fuels.
10. Aerospace companies are investigating the use of groundnut oil in their applications, considering its high smoke point.
11. Entrepreneurship in the groundnut oil industry is thriving, with many start-ups focusing on sustainable production and innovative uses for the oil.
12. Interior-design specialists are starting to use groundnut oil in their work, given its compatibility with other natural materials.
13. Cooking classes are incorporating groundnut oil into their curriculum, teaching students about its uses and benefits.
14. Leaders in the food industry are advocating for the use of groundnut oil in processed food manufacturing due to its stability during heating and storage.
15. Diversity-and-inclusion initiatives in the groundnut oil industry are focusing on supporting smallholder farmers in developing regions.
16. Wearables manufacturers are researching the use of groundnut oil in smartwatch batteries, given its renewable nature and good lubricating properties.
17. Smart-home-device creators are exploring the use of groundnut oil in their devices, considering its compatibility with various systems.
18. Cybersecurity professionals are watching the rise of groundnut oil-based technology closely, anticipating potential security risks.
19. Lifestyle influencers are promoting the use of groundnut oil in their daily routines, from cooking to skincare.
20. Outdoor-living enthusiasts are using groundnut oil for its moisturizing properties in skincare and sunscreen products.
21. Fashion-and-beauty companies are incorporating groundnut oil into their product lines, given its popularity and potential benefits.
22. Food-and-drink establishments are featuring groundnut oil in their menus, highlighting its versatility and health benefits.
23. Family-dynamics researchers are studying the impact of groundnut oil consumption on dietary habits and overall health.
24. Small-business owners are investing in groundnut oil production, hoping to capitalize on the growing market.
25. Investors are looking for opportunities in the groundnut oil industry, seeking out companies with sustainable practices and innovative ideas.
26. Wealth-management advisors are recommending groundnut oil as a potential investment for their clients.
27. Home-and-garden enthusiasts are using groundnut oil for its cleaning and moisturizing properties.
28. Home-improvement projects are increasingly using groundnut oil-based paints and varnishes, given their durability and eco-friendliness.

Read also: