The global domestic consumption of peanut oil is heavily dominated by China, accounting for over half of the consumption. While China’s usage increased slightly by 2.46%, India’s consumption decreased by 1.63% year-over-year. Burkina Faso saw a notable double-digit growth of 11.33%, whereas Vietnam experienced a significant decline of 10.22%. Countries like the United States and Bangladesh saw moderate growth, while several African nations such as Nigeria, Sudan, and Tanzania maintained stable consumption levels.
Future trends to watch include:
- Potential increase in consumption as emerging markets develop and consumer preferences shift towards healthier oils.
- Volatility in the growth rates due to geopolitical factors or climate impacts affecting peanut production.
- Continued market expansion and intensified competition among key countries, notably in Asia and Africa.
Top countries in Peanut Oil Domestic Food Consumption Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 55.38 | 2023 | +2.11% | +2.46% | View data |
| 2 | 2 India | 16.66 | 2023 | 0% | -1.63% | View data |
| 3 | 3 Nigeria | 4.17 | 2023 | 0% | 0% | View data |
| 4 | 4 Myanmar | 3.97 | 2023 | +6.38% | +1.25% | View data |
| 5 | 5 Sudan | 3.89 | 2023 | -3.92% | 0% | View data |
| 6 | 6 Tanzania | 2.22 | 2023 | 0% | 0% | View data |
| 7 | 7 United States | 2.22 | 2023 | -1.41% | +2.79% | View data |
| 8 | 8 Burkina Faso | 2.06 | 2023 | +4% | +11.33% | View data |
| 9 | 9 Chad | 1.02 | 2023 | 0% | 0% | View data |
| 10 | 10 Niger | 0.94 | 2023 | 0% | 0% | View data |
