Global Drinkable Peanut Powder Market- Insights
Peanut powder contains sufficient amount of protein, vitamin E & niacin, fiber, and manganese, which makes it nutritional plant-based protein supplement. Peanut powder is made by pressing peanuts and it is free from natural oil.
Advances offered by drinkable peanut powder such as nutritional value and high protein supplement are driving the global drinkable peanut powder market. For instance, the protein fat ratio in peanut powder is (6gm protein: 1.5gm fat) along with fiber. 15gm of peanut powder contains 8gm of protein and 70 calories.
Peanuts powder used in nutritional snack-food and confectionery product to improve its nutrition. Peanuts contain high protein (34gm/100gm) as compare to dairy products (1.6gm/100gm), eggs (13gm/100gm), and meat (26gm/100gm), which makes peanut a healthy nutritional snack food and helps to improve nutritional value of protein powder. Peanut with Coenzyme Q10 helps to enhanced working capacity of heart.
Figure 1. Global Drinkable Peanut Powder Market Share, By Application, 2016
The global drinkable peanut powder market was valued at US$ 505.19 million in 2017 and is anticipated to register a CAGR of 4.91% in terms of revenue, over the forecast period to reach US$ 728.87 million by 2025.
The major growth driver for drinkable peanut powder market is demand for food processing across the globe owing to increasing drinkable peanut powder demand. For instance, according to the United States Department of Agriculture (USDA), food processing industry in Japan was valued at US$ 216.1 billion in 2016. As peanut powder contains functional compounds such as protein, fiber and antioxidant that are used as a functional ingredient in food processing industry.
Peanut powder shakes segment held significant market share of drinkable peanut powder market in 2017 and is expected to exhibit positive growth during the forecast period. This is owing to shakes being one of the easiest and convenient ways to increase protein intake, which helps to support muscle growth and other body functions such as tissue repairing and building. Furthermore, people also prefer shakes over other energy drinks.
Supermarket segment is expected to exhibit the highest growth in the peanut powder market. This is due to availability of varieties and flavors in these channels. For example, peanut powder is available in flavours such as chocolate, honey, unsweetened and banana. Major retailers around the globe focus on unique marketing activities to increase product sales. For example, Big Bazar, a major retailer in India, celebrated National Nutritional Week in 2016. This program showcased ready-to-drink and ready-to-food products in its stores across the country.
Asia Pacific exhibited positive growth in the global drinkable peanut powder market in 2016 and it is expected to increase during forecast period, Major driving factors responsible for growth of peanut powder market are increasing awareness about peanut powder for application in protein shakes and smoothies among health conscious consumers. Consumers in countries such as China and India are adopting peanut powder as a healthy snack for weight management and to aid in reducing symptoms of cardiovascular disease. Peanuts are polyphenol antioxidant and source of resveratrol, which could aid in lowing risk of heart diseases, cancers, degenerative nerve diseases, tumours and inflammation.
Figure 2. Global Drinkable Peanut Powder Market Share, By Region, 2016
Europe is third-largest consumer of peanut powder after North America and Asia Pacific. European peanut powder market is expected to exhibit growth during the forecast period, due to shift in consumption pattern, where consumers prefer vegetable sources and plant sources of protein instead of meat. According to CBI - Ministry of Foreign Affairs, Europe’s estimated peanut (groundnut) consumption is 550,000 tons per year and imports show a growing market with an annual increase of 1.2% in volume (4.3% in value) from 2011 to 2015. Furthermore, European peanut import market showed growth with an annual increase of 1.2 % in volume and 4.3% value in peanut from 2011 to 2015 according to CBI - Ministry of Foreign Affairs.
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.
Peanuts are a high-protein, nutritious food that are ready-to-eat with little preparation or can be eaten raw. Peanut can be processed by roasting and ground into various food products. Peanut shakes and smoothies segments are gaining significant traction in the global drinkable peanut powder market.
Rising demand for the healthy beverages such as drinkable peanut powder products driving the market. In addition, food manufacturers are developing peanut powder which is based beverages that are rich in protein and low in fat content with fewer calories which are healthy for consumers.
Soluble peanut powder was dominant in the drinkable peanut powder market in 2017 and is expected to exhibit similar trend over the forecast period. This is owing to increasing consumption of soluble peanut in protein shakes due to its low-calorie content and high nutritional value. This is expected to aid in growth of the segment over the forecast period. North America is one of the leading regions in peanut powder consumption due to highest demand for protein shakes and smoothies.
Asia Pacific region is also expected to exhibit positive growth in the peanut powder market, due to rising demand for it in processed foods and changing consumer preference towards plant-based protein supplement are the factors driving the drinkable peanut powder market. Nutritional benefits of peanut powder such as protein, fiber, polyphenols, antioxidant, vitamin and minerals that can be used as functional ingredients into processed foods. For instance, according to India Brand Equity Foundation (IBEF), in India the food processing industry is one of the largest industry which rank of 5th in terms of consumption, production & exports. Food processing sector in India was valued at USD258 billion in 2015.
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