May 17, 2025
IndexBox has just published a new report: United Kingdom – Crude Groundnut Oil – Market Analysis, Forecast, Size, Trends And Insights.
The article discusses the projected growth of the UK market for crude groundnut oil, with an expected increase in consumption and market performance. By 2035, the market volume is anticipated to reach 128 tons, with a corresponding value of $547K. The forecasted CAGR for the period from 2024 to 2035 indicates promising growth prospects for the market.
Market Forecast
Driven by rising demand for crude groundnut oil in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +37.0% for the period from 2024 to 2035, which is projected to bring the market volume to 128 tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +34.2% for the period from 2024 to 2035, which is projected to bring the market value to $547K (in nominal wholesale prices) by the end of 2035.
ConsumptionUnited Kingdom’s Consumption of Crude Groundnut Oil
In 2024, consumption of crude groundnut oil decreased by -75.3% to 4 tons, falling for the second year in a row after two years of growth. Overall, consumption recorded a precipitous slump. Over the period under review, consumption hit record highs at 215 tons in 2019; however, from 2020 to 2024, consumption failed to regain momentum.
The size of the crude groundnut oil market in the UK declined dramatically to $21K in 2024, waning by -66% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a sharp decline. Over the period under review, the market reached the peak level at $699K in 2018; however, from 2019 to 2024, consumption stood at a somewhat lower figure.
ProductionUnited Kingdom’s Production of Crude Groundnut Oil
In 2024, production of crude groundnut oil in the UK reached 100 tons, almost unchanged from 2023 figures. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 0.8%. Over the period under review, production reached the maximum volume at 101 tons in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.
In value terms, crude groundnut oil production declined to $318K in 2024 estimated in export price. In general, the total production indicated a notable expansion from 2013 to 2024: its value increased at an average annual rate of +2.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -8.4% against 2021 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 21%. As a result, production attained the peak level of $347K. From 2022 to 2024, production growth remained at a lower figure.
ImportsUnited Kingdom’s Imports of Crude Groundnut Oil
After two years of growth, overseas purchases of crude groundnut oil decreased by -5.3% to 26 tons in 2024. Overall, imports continue to indicate a deep contraction. The growth pace was the most rapid in 2016 with an increase of 169% against the previous year. Imports peaked at 180 tons in 2019; however, from 2020 to 2024, imports remained at a lower figure.
In value terms, crude groundnut oil imports skyrocketed to $188K in 2024. Over the period under review, imports saw a mild decline. Over the period under review, imports attained the maximum at $350K in 2019; however, from 2020 to 2024, imports remained at a lower figure.
Imports By Country
In 2024, Hong Kong SAR (28 tons) was the main supplier of crude groundnut oil to the UK, with a approx. 108% share of total imports.
From 2013 to 2024, the average annual rate of growth in terms of volume from Hong Kong SAR stood at +9.7%.
In value terms, Hong Kong SAR ($137K) constituted the largest supplier of crude groundnut oil to the UK.
From 2013 to 2024, the average annual growth rate of value from Hong Kong SAR totaled +10.3%.
Import Prices By Country
In 2024, the average crude groundnut oil import price amounted to $7,312 per ton, surging by 93% against the previous year. Over the period under review, the import price saw resilient growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by 105%. The import price peaked in 2024 and is expected to retain growth in the near future.
As there is only one major supplying country, the average price level is determined by prices for Hong Kong SAR.
From 2013 to 2024, the rate of growth in terms of prices for Germany amounted to +16.4% per year.
ExportsUnited Kingdom’s Exports of Crude Groundnut Oil
In 2024, shipments abroad of crude groundnut oil increased by 9.7% to 122 tons, rising for the second consecutive year after three years of decline. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 276,039%. The exports peaked in 2024 and are likely to see steady growth in the immediate term.
In value terms, crude groundnut oil exports fell remarkably to $12K in 2024. Overall, exports, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2019 when exports increased by 299,417% against the previous year. As a result, the exports attained the peak of $1.4M. From 2020 to 2024, the growth of the exports failed to regain momentum.
Exports By Country
The Netherlands (2.5 tons) was the main destination for crude groundnut oil exports from the UK, with a 2% share of total exports. Moreover, crude groundnut oil exports to the Netherlands exceeded the volume sent to the second major destination, Spain (305 kg), eightfold.
From 2013 to 2024, the average annual growth rate of volume to the Netherlands totaled +62.4%.
In value terms, the Netherlands ($11K) and Spain ($8.2K) constituted the largest markets for crude groundnut oil exported from the UK worldwide.
In terms of the main countries of destination, the Netherlands, with a CAGR of +62.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review.
Export Prices By Country
The average crude groundnut oil export price stood at $95 per ton in 2024, dropping by -97.2% against the previous year. Overall, the export price continues to indicate a sharp reduction. The growth pace was the most rapid in 2022 when the average export price increased by 1,440% against the previous year. As a result, the export price reached the peak level of $1,286,640 per ton. From 2023 to 2024, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($26,987 per ton), while the average price for exports to the Netherlands stood at $4,597 per ton.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+56.3%), while the prices for the other major destinations experienced more modest paces of growth.