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.