In 2023, China led global peanut oil consumption at 3.49 million metric tons, with India following at 1.05 million metric tons. China saw a year-on-year increase of 2.46%, while India's consumption decreased by 1.63%. The United States and Burkina Faso showed significant increases of 2.79% and 11.33%, respectively. Stable consumption was noted in countries like Nigeria, Sudan, and Tanzania. Vietnam and Hong Kong faced declines, while Bangladesh recorded a modest rise. Over the last five years, annual growth trends varied widely across nations, emphasizing divergent consumption dynamics influenced by economic and cultural factors.
Future trends to watch involve China continuing its leading position in peanut oil consumption. Economic growth in developing nations might increase their consumption rates. Shifts in dietary preferences and socio-economic changes in large markets like India could alter demand. Additionally, countries with recent notable increases such as Burkina Faso and Senegal may see further growth if local conditions remain favorable.
Top countries in Peanut Oil Domestic Food Consumption by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 3,490 | 2023 | +2.11% | +2.46% | View data |
| 2 | 2 India | 1,050 | 2023 | 0% | -1.63% | View data |
| 3 | 3 Nigeria | 263 | 2023 | 0% | 0% | View data |
| 4 | 4 Myanmar | 250 | 2023 | +6.38% | +1.25% | View data |
| 5 | 5 Sudan | 245 | 2023 | -3.92% | 0% | View data |
| 6 | 6 Tanzania | 140 | 2023 | 0% | 0% | View data |
| 7 | 7 United States | 140 | 2023 | -1.41% | +2.79% | View data |
| 8 | 8 Burkina Faso | 130 | 2023 | +4% | +11.33% | View data |
| 9 | 9 Chad | 64 | 2023 | 0% | 0% | View data |
| 10 | 10 Niger | 59 | 2023 | 0% | 0% | View data |
