Drinkable Peanut Powder Market to be US$ 941.4 Mn by 2027

Drinkable peanut powder is a plant-based protein and is prepared by crushing or grinding the roasted peanuts in order to remove the natural oils. This peanut butter can be used in a variety of drinks such as smoothies and other beverages as peanut powder contains 85% less fat and 50% fewer calories offering various health benefits. Drinkable peanut powder has a sapid taste and it can be mixed with various beverages in order to enhance the flavor of the beverage. They can be classified soluble and insoluble and are available in supermarkets, hypermarkets and other retail stores. It has become popular on account of its sapid taste and gooey appeal which makes them ideal choice of ingredients in various food products.

The global drinkable peanut powder market is estimated to account for US$ 577.4 million in terms of value in the year 2018 and it predicted to grow at a CAGR of 5.6% during the forecast period (2019-2027)

Drivers

Increasing introduction of peanut products around the globe, mainly in highly harvested areas such as India and China, has resulted in high production of quality peanuts that can be used in the production of drinkable peanut powder is propelling the market growth. Moreover, consumption of peanuts as peanut butter, snacks, and peanut powder is high across regions such as North America and Europe, thus this factor is also expected to support the growth of the global drinkable peanut powder market.

Market Opportunities

Increasing focus of manufacturer to introduce smoothies and shakes due to rising demand for such products among consumers is expected to foster market growth. For instance, in December 2019, F’real has announced the plant to launch new fruit and plant-based smoothies in strawberry banana, mango, and acai berry flavors, which will have fewer calories and less sugar than its existing smoothie line. Also, it will launch a new line of shakes, each of which contains more than 15 grams of plant-based protein and reduced sugar. The shakes will come in cold brew, peanut butter and chocolate and salted caramel flavors.

Market Restraints

The availability of substitutes of peanut powder is expected to have a negative impact on the market of drinkable peanut powder. For example, ideal substitute of peanut powder is almond powder and butter, which have 69% more calcium, 169% more vitamin E, and 86% more iron than peanut powder and butter. Therefore, the presence of such alternate of peanut powder will negatively impact the market growth of drinkable peanut powder over the forecast period.

Key Takeaways

On the basis of type, the soluble (powder) product has dominated the global drinkable peanut powder market in 2018 with a 63% market share in terms of value, followed by insoluble particle product.

Market Trends

Growing production of peanuts around the globe is projected to augment the market growth of global drinkable peanut powder over the forecast timeframe. According to the American Peanut Council, the commercial peanut industry is composed of growers, shellers, manufacturers and allied industries. Peanuts are grown in 13 states, across the southern United States and in many countries around the world. World production of peanuts was approximately 45 million metric tons in 2017, with China being the world’s largest producer. The United States is the third-largest producer (2018), and exports about 20-25% of production.

Growing e-commerce worldwide that enable manufacturers to reach their products across the targeted customer is projected to accelerate the market growth of global drinkable peanut powder. According to the SaleCycle, U.S. Online retail had a 14.3% share of total retail sales in 2018, up from 12.9% in 2017 and 11.6% in 2016. In this respect, the US is the third most advanced eCommerce market worldwide, with the UK and Germany in first and second place. Therefore, rising e-commerce will favor market growth to some extent.

Competitive Section

Key players operating in global drinkable peanut powder market are The J.M. Smucker Company, Golden Peanut and Tree Nuts, Santa Cruz Natural Incorporated, Bell Research Companies, Peanut Butter & Co., The Tru-Nut Company, Sukrin Ltd., Protein Plus, LLC, Better Body Foods, Nutrinity Foundation

Few Recent Developments

Golden Peanut and Tree Nuts

In December 2015, the company acquired an 80% stake in a peanut bulk warehouse and shelling and storage facility in Jan Kempdrop, South Africa

Santa Cruz Natural Incorporated

In January 2016, the company launched Santa Cruz Organic Peanut Powder in two flavors; peanut powder with milled chia seeds and original peanut powder.

Market Taxonomy

By Type