Peanut Flour Market Size, Share, Growth, and Industry Analysis, By Type (Peanut Flours of Light, Peanut Flours of Medium and Peanut Flours of Dark), By Application (Peanut Butters, Sauces, Baked Goods, W/Strong Flavors, Pet Treats and Extruded Crisps) and Regional Insights and Forecast to 2031

Updated On: 06 May 2024

PEANUT FLOUR MARKET REPORT OVERVIEW

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The global peanut flour market size was USD 238.2 million in 2019 and the market is projected to touch 274.1 million by 2026, exhibiting a CAGR of 2.0% during the forecast period.

Peanut flour is a versatile and nutritious ingredient that is gaining popularity in various culinary applications. Made from finely ground roasted peanuts, this flour offers a rich, nutty flavour that enhances the taste of both sweet and savoury dishes. It is a great source of plant-based protein, making it an excellent choice for those looking to boost their protein intake while following a vegetarian or vegan diet. Additionally, peanut flour is naturally gluten-free, making it suitable for individuals with gluten sensitivities or celiac disease.

Beyond its nutritional benefits, peanut flour is often used in baking, smoothies, and as a thickening agent in sauces and soups. It can be incorporated into recipes for pancakes, muffins, and energy bars to add a delightful peanut flavour without the added oils and sugars found in traditional peanut butter. Some people also use it as a coating for meats or vegetables to achieve a crispy texture when cooking. As with any food product, it's important for individuals with peanut allergies to exercise caution and consult with a healthcare professional before incorporating peanut flour into their diet.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering; with the peanut flour market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic led to disruptions in supply chains globally, affecting the production and distribution of many food products, including peanut flour. Lockdowns, restrictions, and changes in consumer behaviour impacted the flow of goods, causing delays and shortages in some instances. International trade and export/import activities were impacted by lockdowns and travel restrictions, affecting the availability and pricing of peanut flour in different regions.

Closure or restrictions on restaurants, cafes, and catering services significantly affected the food service sector. Peanut flour, often used in commercial food preparation, may have experienced a decline in demand from this segment. Some businesses faced operational challenges, while others pivoted to meet changing consumer demands, potentially influencing the availability and marketing of peanut flour products. The market is anticipated to boost the peanut flour market growth following the pandemic.

LATEST TRENDS

"Gluten-Free and Allergen-Friendly Products to Drive Market Growth"

Peanut flour's natural gluten-free properties make it appealing to individuals with gluten sensitivities or those seeking gluten-free alternatives. Moreover, it's used in products catering to those with peanut allergies as it provides a peanut flavor without the allergenic concerns associated with whole peanuts. Peanut flour has found applications in baking and snack products, contributing a unique flavor profile and nutritional benefits. Manufacturers may continue to explore innovative uses of peanut flour in cookies, cakes, energy bars, and other baked goods.

Consumers are increasingly prioritizing health and wellness, and peanut flour's nutritional composition, including its protein content and healthy fats, aligns with these trends. The demand for products that support a healthy lifestyle may drive the use of peanut flour in a variety of food items. These latest developments are anticipated to boost the peanut flour market share.

PEANUT FLOUR MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Peanut Flours of Light, Peanut Flours of Medium and Peanut Flours of Dark.

Peanut Flours of Light: Lightly roasted peanuts are used in the production of light peanut flour. peanut flour retains a milder, less intense peanut flavour compared to darker varieties. The light roast allows the natural sweetness of the peanuts to come through. Light peanut flour has a lighter colour, often closer to the natural colour of raw peanuts. Light peanut flour is versatile and can be used in a variety of culinary applications, including baking, smoothies, sauces, and coatings for a subtler peanut flavour.

Peanut Flours of Medium: Peanuts for medium peanut flour are roasted to a moderate level. Medium peanut flour exhibits a balanced flavour profile, offering a combination of the nutty sweetness from the peanuts and a slightly more robust, roasted taste compared to the light variety. Medium peanut flour has a deeper colour than the light version, showcasing a moderate roast level. This type of peanut flour is often used in both sweet and savoury dishes, providing a well-rounded peanut flavour without the intensity of darker roasts.

Peanut Flours of Dark: Dark peanut flour is made from peanuts that undergo a more extended and intense roasting process. Dark peanut flour has a rich, intense, and distinctly roasted peanut flavour. The extended roasting process enhances the depth and complexity of the taste. Dark peanut flour has a deep, brown colour, reflecting the thorough roasting of the peanuts. Dark peanut flour is suitable for applications where a robust peanut flavour is desired. It is often used in baking, cooking, and as an ingredient in products that benefit from a pronounced peanut taste.

• By Application

Based on application the global market can be categorized into Peanut Butters, Sauces, Baked Goods, W/Strong Flavors, Pet Treats and Extruded Crisps.

Peanut Butters: Peanut flour is often used in the production of peanut butter. It serves as a key ingredient, contributing to the flavour, texture, and nutritional profile of the final product. Peanut flour enhances the peanut flavour in peanut butter while also contributing to the spreadable consistency. It may be used to achieve a desirable texture and thickness.

Sauces: Peanut flour is utilized in the formulation of sauces, such as peanut sauces for savoury dishes or dressings for salads. In sauces, peanut flour acts as a thickening agent and imparts a rich, nutty flavour. It provides a convenient way to incorporate peanut flavour without the need for whole peanuts.

Baked Goods: Peanut flour is commonly used in the baking industry for a variety of products, including cookies, cakes, muffins, and bread. In baked goods, peanut flour adds a nutty flavour, enhances the nutritional content by increasing protein levels, and contributes to the overall texture and moisture of the final product.

With Strong Flavors: Peanut flour is used in recipes where strong and bold flavours are desired, such as in energy bars, protein shakes, or specialty baked goods. Its robust peanut flavour can stand out in recipes with other strong ingredients, providing a distinctive taste. It is often chosen for products where the peanut taste needs to be pronounced.

Pet Treats: Peanut flour is incorporated into the production of pet treats, including biscuits and snacks for dogs. In pet treats, peanut flour serves as a flavour enhancer, offering a taste that pets find appealing. Additionally, it can contribute to the nutritional value of the treats.

Extruded Crisps: Peanut flour is used in the manufacturing of extruded crisps or snacks, providing a crunchy texture. In extruded crisps, peanut flour can act as a binding agent, adding protein content, and contributing to the overall flavour profile. It helps create a crispy and enjoyable snack.

DRIVING FACTORS

"Increasing Demand for Plant-Based Proteins to Boost the Market"

The growing trend toward plant-based diets and the desire for alternative protein sources have driven the demand for peanut flour. As a plant-based ingredient rich in protein, peanut flour appeals to consumers seeking vegetarian, vegan, or flexitarian food options. Consumers are increasingly seeking natural and minimally processed ingredients. Peanut flour, made from ground roasted peanuts, aligns with the demand for clean label products, which are perceived as healthier and more wholesome. The natural gluten-free nature of peanut flour makes it suitable for those with gluten sensitivities or celiac disease. Additionally, it serves as an alternative for individuals with peanut allergies who want to enjoy a peanut flavour without the risk of allergens.

"Rising Health Consciousness to Expand the Market"

Consumers are becoming more health-conscious, seeking products with nutritional benefits. Peanut flour is a good source of protein, fiber, and healthy fats, making it attractive to individuals looking to incorporate nutritious ingredients into their diet. The popularity of gluten-free and paleo diets has contributed to the demand for alternative flours. Peanut flour, being both gluten-free and suitable for paleo diets, has gained traction among individuals following these dietary trends. These factors are anticipated to drive the peanut flour market share.

RESTRAINING FACTOR

"Competitive Alternatives to Potentially Impede Market Growth"

Despite efforts to remove allergens during processing, peanut flour remains derived from peanuts, a common allergen. This poses a challenge for individuals with peanut allergies, limiting the market's reach and consumer base. While the nutty flavor of peanut flour is appealing to many, some consumers may not prefer or may be sensitive to the distinct taste of peanuts. This can limit the product's appeal in certain applications and consumer demographics. The market faces competition from other alternative flours, such as almond flour, coconut flour, and various grain-based flours. Consumer preferences and dietary trends may shift towards these alternatives, affecting the demand for peanut flour. The factors are anticipated to hinder the growth of the peanut flour market growth.

PEANUT FLOUR MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market owing to Consumer Awareness and Acceptance"

The market is primarily segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

In North America, there is generally higher awareness and acceptance of alternative flours, including peanut flour. Consumers are increasingly open to trying new and innovative ingredients, contributing to the growth of the peanut flour market. North American consumers have a diverse palate and a high demand for a variety of food products. Peanut flour, with its versatility, is incorporated into a wide range of products, including baked goods, snacks, sauces, and protein-rich foods, aligning with diverse consumer preferences. The North American food industry is highly innovative, and peanut flour finds applications in numerous food products. It is used in baking, confectionery, snacks, savoury dishes, and as a protein source in various food formulations. This diverse usage contributes to its prominence in the region.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• ADM (Archer Daniels Midland) [U.S.]
• CUKRA [Serbia]
• Amanda [Brazil]
• Vinay Industries [India]
• Puyang Tianli [China]

INDUSTRIAL DEVELOPMENT

January 2021: Golden Peanut and Tree Nuts has been known for its continuous efforts in product development within the peanut industry. The company has focused on creating specialized peanut flours to meet the diverse needs of the food industry, including variations in roast levels, particle sizes, and applications. This kind of innovation allows food manufacturers to choose peanut flours tailored to their specific product requirements, contributing to the overall growth and versatility of the peanut flour market.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.