The global peanut oil market was valued at USD 8.20 billion in 2024 and is projected to expand from USD 8.65 billion in 2025 to USD 12.73 billion by 2032, reflecting a CAGR of 5.69% during the forecast period. In 2024, the Asia Pacific region dominated the global market, capturing 92.44% of the total share.
Peanut oil—also referred to as groundnut oil—is a plant-based edible oil derived from peanut seeds. Known for its mild taste, high smoke point, and nutritional value, it is a preferred choice for cooking, especially in Southeast Asian and American cuisines. The oil is available in refined and cold-pressed/unrefined varieties. India and China lead global production, while China and Myanmar rank among the top consumers.
Apart from culinary applications, peanut oil is also used in cosmetics, pharmaceuticals, and biofuel manufacturing. Rising health awareness and a growing preference for natural, traditional oils are major factors fueling global demand.
Key market players include Cargill, Incorporated, Archer-Daniels-Midland Company, and The Hain Celestial Group, Inc.
Information Source: https://www.fortunebusinessinsights.com/peanut-oil-market-113599
Market Trends
Expanding Applications in Pharmaceuticals
The use of peanut oil in pharmaceuticals has grown significantly due to its therapeutic benefits and ability to serve as a carrier oil for medicinal formulations. It is increasingly used in ear drops, laxatives, earwax softeners, topical preparations, controlled-release injectables, and oral drugs. The oil’s favorable composition and compatibility with active ingredients have boosted its adoption in drug manufacturing.
In the Asia Pacific, the market grew from USD 7.11 billion in 2023 to USD 7.58 billion in 2024, highlighting robust demand across pharmaceutical applications.
Segmentation Analysis
In 2024, the refined peanut oil segment held the largest market share, primarily due to its impurity-free composition and neutral aroma, making it ideal for both domestic and commercial applications. By nature, the conventional segment dominated the market, supported by its wide availability and cost-effectiveness. In terms of application, household usage led the segment, driven by a surge in home cooking trends, higher disposable incomes, and the sustained preference for traditional culinary practices.
Regional Insights
The peanut oil market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Among these, Asia Pacific holds the largest and fastest-growing share, supported by strong production capabilities, rising consumer demand, and the cultural significance of groundnut oil in daily cooking. North America and Europe are witnessing consistent growth, attributed to the increasing incorporation of peanut oil in specialty foods, bakery items, and cosmetic formulations. Meanwhile, South America and the Middle East & Africa are emerging as promising markets, driven by advancements in food processing infrastructure and the expansion of import networks.
Competitive Landscape
Leading industry players are emphasizing innovation, strategic collaborations, and government partnerships to reinforce their market presence. Companies such as The Hain Celestial Group, Inc., Archer-Daniels-Midland Company, and Cargill, Incorporated are actively expanding their product portfolios and exploring value-added peanut oil varieties to meet evolving consumer preferences.
Key Companies Profiled