Project Report For Groundnut Processing
Project Report For Groundnut Processing is as follow
During the projected timeframe, 2021-2026, the peanuts industry is expected to increase at a CAGR of 4.5 percent.
Peanut exporting nations have indeed been heavily affected by the COVID-19 lockdown, which has resulted in a drop in demand in importing nations. In contrast, most emerging economies’ industrial sector were shut down for months. As a result, worldwide demand for peanuts has decreased. Peanut demand, on the other hand, has recovered to pre-COVID-19 levels and seems to be likely to rise throughout the projected period, as exporters see demand from Southeast Asian nations and Europe.
China and India are indeed the nation’s biggest consumers and exporters of peanuts, contributing for even more than 36.0 percent of worldwide demand as of 2019. Peanut consumption, on the other hand, grew at a 12.0% annual rate from 2016 to 2018.
Market potential & Strategy
Peanuts are widely used in the food business, which is a primary driver for the peanut market. Peanuts are frequently utilized for oil extraction and peanut flour production. The processing of peanuts, as well as their widespread use as snacks, does have a favourable influence on market growth. Peanuts are becoming increasingly famous within health-conscious customers due to their high nutritious content. The favorable expansion of the peanuts industry has been aided by a shift in consumption patterns and the embrace of a healthy diet.
Peanuts are mostly exported from India, the United States, and Argentina. Over the projection period, rising demand for nut-based snacks, nut butter, and protein-rich meals is predicted to fuel strong demand for peanuts worldwide, resulting in increased exports. The Netherlands, Germany, and the United Kingdom are 3 nations where peanut exporters from underdeveloped nations may find plenty of chances. Customers’ consumption habits are changing, and plant-based protein is getting popular rather than meat-based protein, therefore the European market for peanuts is predicted to continue to go up.
Peanuts are predicted becoming a significant source of unsaturated fats, fiber, proteins, vitamins, and minerals as people grow increasingly aware of healthy eating.
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