DRINKABLE PEANUT POWDER MARKET ANALYSIS

Drinkable Peanut Powder MarketSize and Trends

The global drinkable peanut powder market is projected to reach around US$ 941.4 million by the end of 2027, in terms of revenue, growing at CAGR of 5.6% during the forecast period (2019-2027).

Market Trends

Expanding distribution channels such as supermarkets and hypermarkets around the globe especially in the U.S. region is expected to add immense growth to the market of drinkable peanut powder. According to the Dotdash, the world's largest supermarket chain is U.S.-based Kroger Co., with US$ 119.0 billion in retail revenue in fiscal year 2017. Therefore, a growing distribution channel is projected to foster market growth.

Increasing consumption and imports of peanuts products in Europe is estimated to impact the market growth positively over the forecast period. According to the Centre for the Promotion of Imports, Europe is a large market for groundnuts, with an estimated average consumption of 650 thousand tons per year. Imports show a growing market, with an average annual increase of 2% in volume and 3.9% in value from 2013 to 2017. The Netherlands accounted for 40% of total European imports in 2017

Figure 3. Global Drinkable Peanut Powder Market, Revenue Share (%), By Application, in 2018

On the basis of application, in 2018, drinkable peanut powder shakes accounted the largest market share of 44% in terms of value, followed by smoothies and flavoured beverages respectively.