World - Refined Groundnut Oil - Market Analysis, Forecast, Size, Trends And Insights
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The article provides a detailed analysis of the global refined groundnut oil market, highlighting trends in consumption, production, imports, and exports. Consumption of refined groundnut oil is forecasted to grow steadily, with key markets such as China, the United States, and India leading in both volume and value terms. Production and imports are also on the rise, with countries like Afghanistan showing significant growth rates. The article also covers export data, with countries like Brazil and China leading the way. Overall, the market is poised for continued growth over the next decade.
Market Forecast
Driven by increasing demand for refined groundnut oil worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market volume to 3.5M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +6.9% for the period from 2022 to 2030, which is projected to bring the market value to $10.9B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Refined Groundnut Oil
After four years of decline, consumption of refined groundnut oil increased by 2.2% to 2.4M tons in 2022. In general, consumption enjoyed buoyant growth. Global consumption peaked at 2.9M tons in 2017; however, from 2018 to 2022, consumption remained at a lower figure.
The global refined groundnut oil market size shrank modestly to $6.4B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.9% against 2020 indices. Global consumption peaked at $7.8B in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (369K tons), the United States (258K tons) and India (153K tons), with a combined 32% share of global consumption. Japan, Pakistan, Germany, Nigeria, Afghanistan, Indonesia, Brazil, the UK, France and Bangladesh lagged somewhat behind, together comprising a further 25%.
From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +26.4%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, China ($877M), the United States ($562M) and India ($288M) appeared to be the countries with the highest levels of market value in 2022, together accounting for 27% of the global market. Japan, Germany, the UK, Bangladesh, Pakistan, France, Brazil, Nigeria, Indonesia and Afghanistan lagged somewhat behind, together comprising a further 22%.
Among the main consuming countries, Nigeria, with a CAGR of +14.1%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of refined groundnut oil per capita consumption in 2022 were Afghanistan (1,537 kg per 1000 persons), Germany (884 kg per 1000 persons) and the UK (771 kg per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +23.1%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Refined Groundnut Oil
In 2022, after four years of decline, there was growth in production of refined groundnut oil, when its volume increased by 1.7% to 2.4M tons. Over the period under review, production showed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 55%. Global production peaked at 2.9M tons in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.
In value terms, refined groundnut oil production contracted modestly to $6.4B in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. Over the period under review, global production reached the maximum level at $7.7B in 2017; however, from 2018 to 2022, production remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (380K tons), the United States (260K tons) and India (158K tons), together accounting for 33% of global production. Japan, Pakistan, Germany, Brazil, Nigeria, Indonesia, France, Bangladesh, the UK and Russia lagged somewhat behind, together comprising a further 26%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Nigeria (with a CAGR of +13.5%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Refined Groundnut Oil
In 2022, purchases abroad of refined groundnut oil increased by 15% to 100K tons, rising for the third consecutive year after two years of decline. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 51% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are likely to see steady growth in years to come.
In value terms, refined groundnut oil imports skyrocketed to $128M in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 19% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in years to come.
Imports By Country
Afghanistan prevails in imports structure, finishing at 63K tons, which was near 63% of total imports in 2022. It was distantly followed by Hong Kong SAR (9.7K tons), constituting a 9.7% share of total imports. The following importers - the UK (4K tons), the Netherlands (3.2K tons), France (2.5K tons), Germany (2.5K tons) and Canada (2.1K tons) - together made up 14% of total imports.
Afghanistan was also the fastest-growing in terms of the refined groundnut oil imports, with a CAGR of +138.2% from 2012 to 2022. At the same time, Hong Kong SAR (+8.5%), the UK (+5.9%) and Canada (+2.9%) displayed positive paces of growth. By contrast, France (-4.7%), Germany (-4.9%) and the Netherlands (-5.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Afghanistan increased by +63 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest refined groundnut oil importing markets worldwide were Afghanistan ($25M), Hong Kong SAR ($25M) and the UK ($12M), together comprising 49% of global imports.
Afghanistan, with a CAGR of +92.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
The average refined groundnut oil import price stood at $1,279 per ton in 2022, with an increase of 2.2% against the previous year. Overall, the import price, however, showed a abrupt setback. The growth pace was the most rapid in 2016 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs at $2,232 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($3,522 per ton), while Afghanistan ($401 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Refined Groundnut Oil
Global refined groundnut oil exports fell to 56K tons in 2022, waning by -2.3% on the previous year's figure. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 30% against the previous year. The global exports peaked at 69K tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.
In value terms, refined groundnut oil exports amounted to $140M in 2022. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 36%. The global exports peaked at $153M in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
Exports By Country
The biggest shipments were from Brazil (16K tons), China (11K tons) and Belgium (8.8K tons), together accounting for 63% of total export. It was distantly followed by India (4.8K tons), the United States (3.7K tons) and France (3.2K tons), together committing a 21% share of total exports. Italy (2.4K tons) took a minor share of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Brazil (with a CAGR of +101.2%), while the other global leaders experienced more modest paces of growth.
In value terms, Brazil ($28M), China ($26M) and Belgium ($23M) constituted the countries with the highest levels of exports in 2022, together comprising 56% of global exports.
Brazil, with a CAGR of +98.8%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
The average refined groundnut oil export price stood at $2,491 per ton in 2022, surging by 7% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 18% against the previous year. The global export price peaked at $2,525 per ton in 2012; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($3,174 per ton), while Brazil ($1,778 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.2%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global refined groundnut oil market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415200 - Refined groundnut oil and its fractions (excluding chemically modified)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global refined groundnut oil market.
This report provides an in-depth analysis of the global groundnut oil market.
Global Market for Ground-Nut Oil And Its Fractions. This report provides an in-depth analysis of the global market for ground-nut oil and its fractions.
This report provides an in-depth analysis of the global crude groundnut oil market.
Global groundnut oil imports reached $671M in 2020. In physical terms, global imports spiked by +15% y-o-y to 444K tons in 2020, mainly due to rising demand from China. China represents the world’s largest importer of groundnut oil, with a 61%-share of global import volume. In 2020, China’s groundnut oil imports jumped from $225M to $433M. Brazil and Argentina remain the key exporters of groundnut oil.
In 2015, the countries with the highest levels of ground-nut oil production were China (X thousand tons), India (X thousand tons), Nigeria (X thousand tons), together accounting for X% of total output.
Argentina dominates in the global ground-nut oil trade. In 2014, Argentina exported X thousand tons of ground-nut oil totaling X million USD, X% over the previous year. Its primary trading partner was China, where it supplied X% of its total grou