New York City, NY -- (SBWIRE) -- 09/27/2016 -- The global market for drinkable peanut powder is expected to exhibit considerable growth as varying yet favourable food regulations in different regions promote the nutritional enhancement of beverages globally. In 2016, the global drinkable peanut powder market is expected to soar at y-o-y growth rate of 5.5% and attain market value of US$ 518.3 Mn. Moreover, the growing penetration of online retail will supplement the demand for drinkable peanut powder products to a larger extent.

Persistence Market Research (PMR) has estimated several key insights that will influence the growth of the global market for drinkable peanut powder in the report titled, "Global Market Study on Drinkable Peanut Powder: Increasing Demand for Protein and Especially Plant-Based Protein is Driving Market Growth By 2024." Consumption of food and beverages enriched with plant-based and organic protein is gaining momentum, and becoming the most crucial factor driving the growth of the global drinkable peanut powder market. Furthermore, growing consumer awareness regarding the health benefits of peanut-based protein, and favourable FDA approvals.

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Based on the type of product, the consumption of soluble powder is expected to be higher than insoluble particles, attributing to the rich taste and easy product solubility. In terms of value share, soluble powder segment is estimated to account for nearly 65% share by the end of forecast period.

Based on the application, the market is segmented into shakes, flavoured beverages and smoothies, of which the shakes segment is anticipated to more lucrative. In terms of market value share, the segment will account for more than 40% by the end of forecast period, followed by 34.9% from smoothies segment.

The global market for drinkable peanut powder is also segmented on the basis of distribution channels such as super market & hypermarket, departmental stores, and others. However, online retailing is also expected to procure resolute significance as one of the leading distribution channels for drinkable peanut powder market. Online retailers such as Amazon.com, Walmart.com and Vitacost.com will majorly contribute the segment's contribution to the global market value, which is projected to reach US$ 143.2 Mn by 2016-end. As of 2016, supermarkets and hypermarkets will continue dominating the global market, collectively accounting for more than 45% of the market share.

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Among the market's regional segmentation, North America is expected to acquire the market share of over 35% by the end of 2016. And, the rising awareness of nutritional beverages is expected to stimulate the growth of the market in Western Europe and Asia Pacific excluding Japan (APEJ) regions. Golden Peanut and Tree Nuts, The J.M. Smucker Company, Sukrin Ltd., Bell Research Companies, Santa Cruz, Peanut Butter & Co., Protein Plus, LLC, Nutrinity, BetterBody Foods, and The Tru-Nut Company, among others are recognised as some of the key players in the global drinkable peanut powder market.

Long-term Outlook: In terms of revenues, the global drinkable peanut powder market is forecasted to surpass US$ 800.0 Mn by 2024-end, registering a CAGR of 5.6% during the forecast period 2016–2024. North America to continue to dominate in terms of regional market share of the global market value during the forecast period.