Embracing Natural Beauty: Peanut Oil's Skincare Benefits Fuel Market Growth 2023 - 2028

DUBLIN, Aug. 17, 2023 /PRNewswire/ -- The "Peanut Oil Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.

The Peanut Oil Market size is expected to grow from USD 10.80 billion in 2023 to USD 12.10 billion by 2028, at a CAGR of 2.30% during the forecast period (2023-2028).

Key Highlights

• With a high nutritional profile and people looking for immune-boosting ingredients, there is an increase in retail demand for peanut oil. According to the study published in the International Union Of Pure And Applied Chemistry journal by Beare-Rogers, peanut oil is naturally low in saturated fats, cholesterol-free, and trans fats.
• Oleic acid, a monounsaturated fatty acid (MUFA), accounts for 52% of its composition; linoleic acid, a polyunsaturated fatty acid (PUFA), accounts for 32%. Additionally, the oil is a source of naturally occurring substances like antioxidants, vitamin E, phytosterols, squalene, and p-coumaric acid, all of which help preserve good health. Due to its high oleic acid content, peanut oil has a wide range of advantageous biological benefits.

Peanut Oil Market Trends

Increasing Awareness of Peanut Oil Benefits in Skincare Products

• With the growing culture of modernization, consumers' lifestyles are also changing daily. Consumers are trending toward the usage of natural products in their daily life. Moreover, with the development of science and technologies, consumers are also acknowledging the benefits of organic ingredient-based skin care cosmetic products, resulting in a rising demand for these natural ingredients such as peanut oil.
• For instance, consumers prefer peanut oil-based skincare products because they can help relieve skin of minor irritations while reducing redness. Eventually, the antioxidant powers found in its vitamin E content help fight aging.
• As a rich emollient, peanut oil helps condition and moisturize skin that looks and feels softer, smoother, and more radiant. Hydrogenated peanut oil also acts as a viscosity-increasing agent, which makes it an important part of the skincare industry. Due to its high-fat content, peanut oil is a great foundation for massage oils.
• Several cosmetic producers use fortified peanut oil as an emollient in skincare and hair care products. Cosmetic producers employ flavor-infused plant-based oils that retain their nutrients to create appealing soaps, serums, and other products. For instance, the cosmetics and pharmaceutical industries can use the peanut oil that Henry Lamotte Oils GmbH offers.
• Therefore, with the growing demand for peanut oil-based products in daily life, consumers are trending toward the peanut oil market, which is also driving the market significantly.

Asia-Pacific Holds the Largest Market Share

• Asia-Pacific is the largest market for peanut oil. Countries such as China and India contribute a large share of peanut oil consumption globally. According to the Department of Agriculture of the United States, the consumption of peanut oil in India was 1,170 thousand metric tons in the fiscal year 2021, whereas, in China, the consumption was around 3.28 million metric tons in the same fiscal year.
• Further, peanut oil is mainly used for cooking in Asian countries because it provides a different color and neutral taste and imparts a pleasant aroma to the cuisines served. It helps to multiply the taste of the food served.
• According to the peanut institute, refined peanut oil has a unique quality that makes it ideal for deep frying. In addition to its excellent flavor because it can reach a high temperature that maintains the exterior of food as crispy and the interior as extremely moist, refined peanut oil is also one of the most widely used deep-frying oils in the world.
• Both types of peanut oil have been used for all kinds of cooking, but many restaurants have long preferred refined peanut oil for frying due to its adaptability and stable flavor per the same organization.

Peanut Oil Industry Overview

The Global Peanut Oil Market is highly competitive in nature due to the presence of domestic and international players in this sector.

Some of the top players in this segment are Archer Daniels Midland, Cargill Incorporated, CHS Inc., Adani Group, and Olam International. Key players are focusing on product development and product innovation to meet consumers' needs by offering a variety of tastes and product quality to maintain premiumization.

Some of the major players use mergers and acquisitions as their key strategy. The strategy to follow mergers and acquisitions by these top players is to sustain and secure a leading position in the industry. This will enable the companies to maintain dominance over other players and remain a strong competition for other players in the market.

A selection of companies mentioned in this report includes

• Archer Daniels Midland Company
• Cargill Incorporated
• Olam International
• Wilmar International Limited
• CHS Inc.
• Hain Celestial Group Inc.
• Liberty Oil Mills Limited
• Shandong Xingquan Oil Co. Ltd
• Bunge Ltd
• Luhua Group Co., Ltd
• Lorenzati Group

For more information about this report visit https://www.researchandmarkets.com/r/qhdzbe

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