Drinkable Peanut Powder Market Size, Share, Growth, and Industry Analysis, By Type (Soluble (Powder), Insoluble (Particle)), By Application (Super Market & Hypermarket, Departmental Stores, Online Retailing), Regional Forecast To 2028

Updated On: 22 April 2024

Report Overview

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The global drinkable peanut powder market size was USD 485.4 million in 2022. As per our research, the market is expected to reach USD 572.9 million in 2028, exhibiting a CAGR of 2.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with drinkable peanut powder market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Drinkable peanut powder, often referred to as peanut protein powder or peanut butter powder, is a product made from roasted peanuts that have had their oils extracted and have been ground into a fine powder. This powder can be rehydrated with water or other liquids to create a peanut-flavored beverage or shake. It is commonly used as a convenient source of protein and flavor, particularly in the fitness and health food industries.

The market for drinkable peanut powder is growing steadily due to health-conscious consumers and those seeking plant-based protein sources. The growth of the fitness and sports nutrition industry also contributed to the demand for such protein-rich products. 

COVID-19 Impact: Pandemic Hampered the Demand for Market

Lockdowns, restrictions on movement, and disruptions in transportation networks could have led to challenges in sourcing raw materials and distributing finished products. This could have affected the production and availability of drinkable peanut powder. During the pandemic, there was a notable shift towards healthier eating and a focus on immune-boosting foods. This could have led to increased interest in products like peanut powder, which is often marketed as a source of protein and other nutrients. The closure or limited operation of restaurants, cafes, and other foodservice establishments could have affected the demand for products like peanut powder, which might be used in foodservice offerings. Depending on the perceived safety of packaged foods, there might have been fluctuations in consumer demand for various products, including peanut powder. Brands that effectively communicated their safety measures could have gained a competitive advantage.

Latest Trends

"Growing Health and Wellness Awareness to Fuel Market Growth"

Health-conscious consumers were increasingly seeking out alternatives to traditional high-calorie beverages. Drinkable peanut powder, often marketed as a source of protein and other nutrients, gained traction due to its perceived health benefits.  With the rise of vegetarian and vegan diets, there was a growing demand for plant-based protein sources.  Peanut powder, being derived from peanuts, which are legumes, fits into the plant-based protein trend. These peanut powder products were positioned as convenient and portable options for consumers with busy lifestyles. They could be easily mixed with water, milk, or other liquids, making them suitable for on-the-go consumption. While peanuts are a common allergen, some peanut powder products were marketed as being processed to remove allergenic components. This allowed individuals with mild peanut allergies to potentially enjoy the product without adverse reactions. Companies were introducing various flavors of peanut powder to appeal to a wider audience. Flavors like chocolate, vanilla, and various fruit flavors were being incorporated to enhance the taste and increase consumer interest.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Soluble (Powder), Insoluble (Particle).

• By Application Analysis

Based on application, the market can be divided into Super Market & Hypermarket, Departmental Stores, Online Retailing.

Driving Factors

"Rising Plant-Based and Vegan Diets to Drive Market Growth"

The rise of plant-based and vegan diets had led to a demand for alternative protein sources. Peanut powder, being plant-based, provided a viable option for individuals following these dietary trends. Drinkable peanut powder can be easily mixed with water, milk, or other beverages to create a quick and convenient high-protein drink. This convenience factor was appealing to busy individuals who needed a convenient on-the-go option. Athletes and fitness enthusiasts were incorporating peanut powder into their diets due to its protein content, which is crucial for muscle recovery and growth. Manufacturers were introducing a variety of flavors and formulations, such as chocolate-flavored peanut powder or blends with other ingredients like cocoa, fruits, and spices, to cater to diverse consumer preferences. Effective marketing campaigns highlighting the health benefits of peanut powder, such as its protein content, fiber, and potential satiety benefits, were driving consumer interest and adoption. Availability through various retail channels, including supermarkets, health food stores, and online platforms, was increasing the accessibility of peanut powder products to a wider audience. Functional foods that offer specific health benefits beyond basic nutrition were gaining popularity. These peanut powder, with its potential to support muscle recovery, weight management, and overall well-being, aligned with this trend. All these factors are contributing to drinkable peanut powder market growth.

Restraining Factors

"Competition from Other Protein Sources to Restrict Market Growth "

The market for protein supplements is quite diverse, with various sources like whey, plant-based proteins (such as soy, pea, and rice), and other nut-based powders. This competition might impact the adoption of drinkable peanut powder, as consumers have numerous options to choose from.

Regional Insights

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"Presence of Key Players in North America Anticipated to Drive Market Expansion "

North America holds leading position in drinkable peanut powder market share due to its health-conscious consumer base and the popularity of plant-based diets in the region. The United States and Canada often drive trends in the health and wellness sector. With a strong focus on plant-based diets and protein supplementation, these countries might be significant markets.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are The J.M. Smucker, Golden Peanut And Tree Nuts, Santa Cruz, Bell Research, Peanut Butter, The Tru-Nut, Sukrin, Protein Plus, BetterBody Foods, Nutrinity Foundation. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• The J.M. Smucker
• Golden Peanut And Tree Nuts
• Santa Cruz
• Bell Research
• Peanut Butter
• The Tru-Nut
• Sukrin
• Protein Plus
• BetterBody Foods
• Nutrinity Foundation

Report Coverage

This report examines an understanding of the drinkable peanut powder market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.