Overview of the European peanut market.

Overview:

The European peanut market has been steadily growing in recent years due to the increasing demand for peanuts and peanut-based products in the region. According to a report by Mordor Intelligence, the European peanut market was valued at USD 2.23 billion in 2020 and is projected to reach USD 2.84 billion by 2026, growing at a CAGR of 3.8% during the forecast period (2021-2026).

Market Drivers:

The growing popularity of plant-based diets and the increasing demand for healthy snacks are the primary drivers of the peanut market in Europe. Peanuts are considered a rich source of protein making them an ideal snack for health-conscious consumers. All this has led to increased consumption of peanut-based products in Europe.

Market Segmentation:

Based on product type, the European peanut market can be segmented into peanuts in shell, peanut seeds, peanut butter, peanut oil, roasted peanuts, peanut flour, and other peanut-based products. Peanut butter is the most popular product in the market, accounting for a significant share of the overall market revenue. Roasted peanuts and peanut oil are also popular products, with a growing demand for peanut flour due to its versatile use in various food products.

Based on distribution channel, the market can be segmented into supermarkets/hypermarkets, convenience stores, online stores, and others. Supermarkets and hypermarkets are the dominant distribution channels for peanut-based products in Europe, accounting for the highest revenue share due to their widespread presence and easy accessibility.

Regional Analysis:

The European peanut market can be further segmented into regions such as North Europe, South Europe, East Europe, and West Europe. North Europe is the largest market for peanut-based products, accounting for the highest revenue share due to the high consumption of peanut butter and roasted peanuts in countries like the UK, Germany, and France. South Europe is also a significant market, with the increasing demand for peanut oil and other peanut-based products in countries like Spain and Italy.

Competitive Landscape:

The European peanut market is highly competitive, with several players operating in the market. These companies are focusing on product innovation, partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolio.

Conclusion:

The European peanut market is projected to grow significantly in the coming years, driven by the increasing demand for healthy snacks and peanut-based products. With the growing popularity of plant-based diets and the increasing demand for convenience foods, peanut-based products are likely to see a surge in demand, presenting a lucrative opportunity for players in the market.