Peanut Meal Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for peanut meal is estimated to witness a CAGR of 4.5% in the forecast period.

The growing demand for meat and aquaculture products is the major driving force behind the growth of the peanut meal feed market. Increased awareness regarding quality meat and milk products and increased livestock production are two other factors augmenting the growth of the market studied. Peanut meal being a by-product of peanut productipon, the widespread production and consumption of peanut, also acts as a driver for peanut meal production, which in turn facilitates the growth of the market.

Key Market Trends

Growing Demand for Meat and Aquaculture Products is Driving the Market

The worldwide economic downturn has had a very limited effect on the global meat market, which has maintained its positive outlook. The highest growth of meat consumption is expected from the Asia-Pacific and South American regions because of changing diet patterns, urbanization, population, and economic growth. For example, the Chinese demand for meat continues to surpass the domestic supply, according to report by Agriculture and Agri-food Canada. Fish are low in fats, cholesterol, and carbohydrates. Although not very high in protein, fish also provide essential vitamins and amino acids. The demand for seafood is increasing rapidly as more and more people are becoming aware of the health benefits of fish consumption. Globally increasing population trends are also supporting the growth of the world meat and seafood market. Increasing life expectancy and limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for animal feed in the global meat industry. The growing demand for meat and seafood is inturn likely to boost the peanut meal market as it would ensure that there is a steady demand for animal feed that includes peanut meal, in the coming years.

North America Leads the Peanut Meal Market

North America accounts for the majority of share of the peanut meal market. The market in this region is characterized by the rising demand and consumption of nutmeals and high disposable incomes of the consumers allowing them to incorporate a good high-protein diet, with a high meat consumption. This increased demand for meat protein has triggered meat production in the region, especially in the countries of United States, Mexico,and Canada, where the uptake of peanut meal as feed has increased and is expected to show a healthy growth rate. Apart from improving nutritional value peanut meal feed is gaining importance for their role in meat quality improvement.

Competitive Landscape

The global peanut meal market is fragmented among small regional players and the top international companies occupy only a limited market share. The leading companies are focussed on acquiring feed mills and small manufacturing for expansion of the business in local as well as foreign markets. Some of the players have been expanding their geographical presence by acquiring or merging with the manufacturers in the foreign market. The leading companies are also focused on the expansion of the business across regions and setting up a new plant for increasing production capacity as well as a product line. The companies are also increasing production capacities of their existing plants. For instance, in 2019, Singapore-based Wilmar International built new plants as part of a project to construct integrated manufacturing complexes in China, in order to take advantage of the rising swine fever issues in the country and expanding its business.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support