(Food-Beverage-News.Com, September 12, 2018 ) Global Drinkable Peanut Powder Market was valued at US$ 505.19 million in 2017 According To Drinkable Peanut Powder Market Report, by Product Type (Soluble, Insoluble, and Others), by Application (Shakes, Smoothies, Flavored Beverages, and Others) and by Distribution Channel (Supermarkets, Hypermarkets, Departmental Stores, Online Stores, and Others), and is expected to reach US$ 728.87 million by 2025, witnessing a CAGR of 4.91% over the forecast period (2018 – 2025).
Consumer preference towards plant-based protein supplement and nutritional products is increasing globally, due to its high nutrition content and low calorie. Therefore, demand for drinkable peanut powder is increasing, thus aiding in growth of the market.
Soluble peanut powder is expected to be dominant segment in peanut powder market due to soluble peanut powder being more convenient. Peanut powder contains niacin and vitamin-B, which is water soluble required for body processes including release of energy from carbohydrate and fats. Furthermore, health benefits associated with daily peanut consumption are aiding in reducing risk associated with cardiovascular diseases and type-2 diabetes. These factors are expected to aid in growth of the market.
Supermarket is expected to be dominant segment in the peanut powder market as peanut powder is easily available at retail shops. Furthermore, online segment is fastest growing in peanut powder market. This is due to increasing Internet penetration in emerging economies such as India and China, ease of comparison of prices, review of products, and ease of delivery at home through e-commerce sites. These are major factors driving growth of the segment in the peanut powder market.
Peanuts have essential nutrients such as vitamin, iron and magnesium. 100 gm of peanuts provide 567 calories along with phosphorus, dietary fiber, and minerals. Moreover, peanuts provide 25g of protein per 100g serving, which is higher in proportion than tree nuts. According to U.S. Food and Drug Administration, 1.5 ounces per day of peanuts as a diet provide low in saturated fat and low cholesterol and helps to reduce the risk of heart disease.
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North America is the largest market in the global drinkable peanut powder, owing to increasing demand for protein enriched products and nutritional products. This is due to increasing consumer awareness regarding protein rich food products. According to Coherent market insights, North America held highest market share of 34.72% of global drinkable peanut powder market in 2016 and it is expected to increase during forecast period. For instance, United States Department of Agriculture (USDA), the U.S. is the leading exporter of the peanut and third importer of the peanut. The U.S. accounts for 25% of world’s peanut exports and 10% of production across the globe. Changing consumer preferences towards plant-based products from animal-based products has led to high demand for peanuts in the region.
Peanut powder and peanut butter are most popular products in the U.S. Consumer preference towards peanut powder is increasing as compared to peanut butter, as powder has low calorie intake than peanut butter and aid in weight management. According to American Peanut Council (APC), American consumers drink or eat around 2.7 kg or 6 pounds of peanut products each year, which is worth over US$ 2 billion value at retail.
Moreover, manufacturing companies are developing new products, in order to enhance their market share. Protein Plus, LLC is a leading producer of peanut-based products for confectionary and food. In December 2016, the company introduced Protein Energy Powder. Protein Energy Power contains 17g of protein per 15 g of powder, low sodium, low cholesterol, high fiber.
Some of the major companies operating in the global drinkable peanut powder market are Golden Peanut and Tree Nuts, J.M. Smucker Company, Santa Cruz Organic, Bell Research Companies, Inc., Peanut Butter & Co., Sukrin Ltd, Protein Plus, LLC, and Nutrinity Foundation.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
