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Report World - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

World - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Global Groundnut Oil Market 2024

Groundnut Oil Market Size

The global groundnut oil market contracted modestly to $X in 2021, which is down by -2% against the previous year. In general, consumption continues to indicate a perceptible setback. Over the period under review, the global market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Groundnut Oil Production

In value terms, groundnut oil production reduced to $X in 2021 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. Over the period under review, global production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Groundnut Oil Exports

Exports

In 2021, global exports of groundnut oil skyrocketed to X tons, picking up by 86% against the previous year's figure. Overall, exports saw a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, groundnut oil exports soared to $X in 2021. In general, exports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 62%. Over the period under review, the global exports reached the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

In 2021, South Africa (X tons) was the key exporter of groundnut oil, making up 55% of total exports. India (X tons) took the second position in the ranking, followed by Brazil (X tons). All these countries together took approx. 28% share of total exports. The following exporters - Iraq (X tons), Argentina (X tons), Nicaragua (X tons) and the United States (X tons) - together made up 11% of total exports.

South Africa was also the fastest-growing in terms of the groundnut oil exports, with a CAGR of +131.5% from 2012 to 2021. At the same time, Iraq (+124.3%), India (+21.1%), Brazil (+9.4%), the United States (+5.9%) and Nicaragua (+1.9%) displayed positive paces of growth. By contrast, Argentina (-11.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Africa, India and Iraq increased by +54, +6.2 and +3.2 percentage points, respectively.

In value terms, the largest groundnut oil supplying countries worldwide were South Africa ($X), India ($X) and Brazil ($X), with a combined 76% share of global exports.

South Africa, with a CAGR of +110.2%, saw the highest rates of growth with regard to 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

In 2021, the average groundnut oil export price amounted to $X per ton, dropping by -22.1% against the previous year. Overall, the export price recorded a deep downturn. The pace of growth appeared the most rapid in 2020 when the average export price increased by 38%. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.7%), while the other global leaders experienced a decline in the export price figures.

Groundnut Oil Imports

Imports

For the fifth year in a row, the global market recorded growth in overseas purchases of groundnut oil, which increased by 14% to X tons in 2021. Overall, imports saw a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 17%. Over the period under review, global imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, groundnut oil imports soared to $X in 2021. Over the period under review, imports recorded prominent growth. The growth pace was the most rapid in 2020 with an increase of 50% against the previous year. Global imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

China dominates imports structure, recording X tons, which was near 66% of total imports in 2021. Italy (X tons) took the second position in the ranking, followed by the United States (X tons). All these countries together took near 14% share of total imports. The Netherlands (X tons), Hong Kong SAR (X tons), Afghanistan (X tons), France (X tons), Benin (X tons) and Switzerland (X tons) took a little share of total imports.

Imports into China increased at an average annual rate of +19.1% from 2012 to 2021. At the same time, Afghanistan (+115.4%), the United States (+13.4%), the Netherlands (+11.3%), Switzerland (+6.7%), Hong Kong SAR (+4.6%) and Italy (+1.9%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in the world, with a CAGR of +115.4% from 2012-2021. Benin experienced a relatively flat trend pattern. By contrast, France (-9.3%) illustrated a downward trend over the same period. China (+34 p.p.) and Afghanistan (+2.3 p.p.) significantly strengthened its position in terms of the global imports, while Hong Kong SAR, Benin, Italy and France saw its share reduced by -1.6%, -2.2%, -8.2% and -10.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported groundnut oil worldwide, comprising 64% of global imports. The second position in the ranking was taken by Italy ($X), with an 8.7% share of global imports. It was followed by the United States, with a 6.1% share.

In China, groundnut oil imports increased at an average annual rate of +15.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Italy (+0.2% per year) and the United States (+14.1% per year).

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, growing by 13% against the previous year. Over the period under review, the import price, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 34%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.6%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China constituted the country with the largest volume of groundnut oil consumption, accounting for 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. The third position in this ranking was occupied by Sudan, with a 4.5% share.
China constituted the country with the largest volume of groundnut oil production, accounting for 41% of total volume. Moreover, groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. India ranked third in terms of total production with a 6.9% share.
In value terms, India emerged as the largest groundnut oil supplier worldwide, comprising 48% of global exports. The second position in the ranking was occupied by Brazil, with an 18% share of global exports. It was followed by Argentina, with a 12% share.
In value terms, China constitutes the largest market for imported groundnut oil worldwide, comprising 65% of global imports. The second position in the ranking was occupied by Italy, with a 9.9% share of global imports. It was followed by Hong Kong SAR, with a 4.6% share.
The average groundnut oil export price stood at $1,704 per ton in 2020, growing by 36% against the previous year.
In 2020, the average groundnut oil import price amounted to $1,534 per ton, jumping by 33% against the previous year.

This report provides an in-depth analysis of the global 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:

  • FCL 244 - Oil of Groundnuts

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 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

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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