New York, NY -- (SBWIRE) -- 03/16/2019 -- Persistence Market Research (PMR) estimates the global drinkable peanut powder market to be valued at US$ 518.3 Mn by 2016 end, and register Y-o-Y growth of 5.5% as compared to that in 2015
PMR Long-term outlook on Drinkable Peanut Powder Market: PMR maintains a positive long-term outlook on the global drinkable peanut powder market, anticipating global revenue to exceed US$ 800.0 Mn by 2024, expanding at a CAGR of 5.6% during the forecast period and Global Market Growth Driven Primarily by North America, APEJ over Forecast Period 2016–2024
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Key players in the global drinkable peanut powder market: The J.M. Smucker Company, Golden Peanut and Tree Nuts, Santa Cruz, Bell Research Companies, Peanut Butter & Co., The Tru-Nut Company, Sukrin Ltd., Protein Plus, LLC, BetterBody Foods, and Nutrinity.
Factors such as increasing demand for beverages, nutritious products, and plant-based proteins coupled with increasing health consciousness and awareness among consumers, and increasing production and consumption of peanuts and peanuts-based products are expected to drive growth of the global drinkable peanut powder market. Additionally, increasing penetration of retail and online distribution by major retailers and favorable food regulation by government and regulatory bodies such as the FDA in North America and EFSA in Europe are expected to fuel the overall growth of the global drinkable peanut powder market. The increasing popularity and consumer preferences for online retail channel for purchasing drinkable peanut powder products is expected to result in significant growth over the forecast period.
On the basis of product type, the global drinkable peanut powder market has been segmented into soluble (powder) and insoluble (particle). In terms of value share, soluble (powder) segment is expected to emerge the most attractive segment, with 64.1% share by 2024. This is attributed to the rich taste and easy solubility of soluble (powder) drinkable peanut powder products.
On the basis of application, the global drinkable peanut powder market has been segmented into shakes, smoothies and flavored beverages. In terms of value share, shakes segment is expected to emerge the most attractive segment, with 44.8% market share by 2024, followed by smoothies segment with 34.9% market share.
On the basis of distribution channel, the global drinkable peanut powder market has been segmented into super market & hypermarket, departmental stores, and online retailing. Super market & hypermarket is a major channel for sales of drinkable peanut powder. Super market & hypermarket segment is estimated to account for 46.2% market share of the global market by 2016 end, and anticipated to expand at a CAGR of 6.0% during the forecast period. Online retailing segment is estimated to be valued at US$ 143.2 Mn by 2016 end. Online retail is one of the most significant distribution channels used by various companies. Online retailers such as Amazon.com, Drugstore.com, Walmart.com, and Vitacost enable companies to enhance product penetration and expand consumer base.
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As per regional segmentation analysis, North America is expected to account for 37.8% share in the global market by 2016 end, registering a CAGR of 5.7% over the forecast period. Asia Pacific excluding Japan (APEJ) and Western Europe are major markets for drinkable peanut powder products. China and India are the major markets in the APEJ region.