LONDON--(BUSINESS WIRE)--SpendEdge, a global procurement intelligence advisory firm, has announced the release of their ‘Groundnut Oil Market Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the agro commodities and raw materials industry. This report breaks down the data and analysis behind the procurement of groundnut oil and acts as an all-inclusive guide for making smart purchasing decisions.
“In developing countries, the use of groundnut oil as a food supplement will drive the growth of the market,” says SpendEdge procurement analyst A Kowshik. “APAC is the largest producer as well as consumer of groundnut oil, and it accounted for more than half of global groundnut oil consumption in 2017,” added A Kowshik.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Groundnut Oil Market:
- Changing demand-supply dynamics increases prices of groundnut oil in short-to-medium term
- Frequent instances of expansion and strategic collaboration by large-scale suppliers
- Consumer preference shifting from taste to health
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Changing demand-supply dynamics increases prices of groundnut oil in short-to-medium term
In recent years, the fluctuation in the demand-supply dynamics has increased the volatility in the prices of groundnut oil. This, in turn, will affect the value generation and profit margins across end-user industries.
Frequent instances of expansion and strategic collaboration by large-scale suppliers
Globally, the control of the supply of groundnut oil from traditional supply base is witnessing an expansion to other emerging production hubs. This helps the buyers save procurement costs as the cost of transportation is likely to reduce.
Consumer preference shifting from taste to health
In the groundnut oil market, the consumers are becoming aware of the health benefits of groundnut oil. This shift in the preferences is compelling suppliers to focus more on the value-added oils, thereby resulting in an increase in the supply of healthier oil variants.
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