The global groundnut oil market is dominated by India and China, commanding the largest production volumes in 2023. India leads significantly with a production of 37.15 thousand metric tons, followed by China at 22.67 thousand metric tons. Notable growth from 2022 to 2023 includes Angola with a 3.04% increase and Ivory Coast at 4.56%, while Senegal and Brazil have seen declines of -2.11% and -2.64%, respectively. The production volume varies greatly, with countries like Nigeria and Myanmar also contributing substantially but on a smaller scale.
Future trends to watch include technological advancements in groundnut oil extraction, increasing health-related consumer awareness favoring groundnut oil, and fluctuations in crop yields due to climate change. Emerging economies may see increased production capabilities, influencing the global market share distribution. Demand in both domestic and international markets is also expected to rise, driven by developing countries focusing on agricultural innovations and health-oriented processed foods.
Top countries in Groundnut Oil Market Size Volume Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 India | 37.15 | 2023 | +2.17% | +3.87% | View data |
| 2 | 2 China | 22.67 | 2023 | +0.097% | +0.097% | View data |
| 3 | 3 Nigeria | 7.71 | 2023 | +1.15% | +1.42% | View data |
| 4 | 4 Myanmar | 5.74 | 2023 | +0.77% | +0.78% | View data |
| 5 | 5 Senegal | 1.75 | 2023 | -2.44% | -2.11% | View data |
| 6 | 6 United States | 1.45 | 2023 | +1.54% | +1.26% | View data |
| 7 | 7 Ghana | 1.4 | 2023 | 0% | -0.91% | View data |
| 8 | 8 Cameroon | 1.36 | 2023 | 0% | +0.66% | View data |
| 9 | 9 Netherlands | 1.14 | 2023 | 0% | 0% | View data |
| 10 | 10 Italy | 0.85 | 2023 | 0% | 0% | View data |
