World - Peanut Butter And Prepared Or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends And Insights
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The global peanut butter market is expected to see continued growth in consumption and market value from 2022 to 2030. Despite fluctuations in consumption and production volumes over the years, overall trends indicate positive growth. China, the United States, and Russia are among the top consumers and producers of peanut butter. The Netherlands, India, and China are leading exporters in the market. Prices and volumes have shown variations by country, with some experiencing steady growth while others have seen declines in the export and import prices.
Market Forecast
Driven by increasing demand for peanut butter and prepared or preserved groundnuts worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 4.9M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $15.7B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Peanut Butter And Prepared Or Preserved Groundnuts
Global peanut butter consumption reached 4.3M tons in 2022, remaining stable against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.8% against 2020 indices. Over the period under review, global consumption reached the maximum volume at 4.4M tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
The global peanut butter market value declined to $11.5B in 2022, falling by -2% 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). Overall, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.3% against 2020 indices. Global consumption peaked at $11.9B in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.
Consumption By Country
China (623K tons) constituted the country with the largest volume of peanut butter consumption, comprising approx. 14% of total volume. Moreover, peanut butter consumption in China exceeded the figures recorded by the second-largest consumer, the United States (264K tons), twofold. Russia (256K tons) ranked third in terms of total consumption with a 5.9% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +1.7%. In the other countries, the average annual rates were as follows: the United States (+0.5% per year) and Russia (+8.2% per year).
In value terms, Japan ($1.5B), China ($1.3B) and the United States ($682M) were the countries with the highest levels of market value in 2022, together accounting for 30% of the global market. Russia, India, Indonesia, Germany, the UK, Pakistan, Nigeria, Brazil, Mexico and Bangladesh lagged somewhat behind, together accounting for a further 25%.
Bangladesh, with a CAGR of +6.6%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of peanut butter per capita consumption in 2022 were Russia (1,782 kg per 1000 persons), Japan (1,271 kg per 1000 persons) and the UK (1,243 kg per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +8.2%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Peanut Butter And Prepared Or Preserved Groundnuts
Global peanut butter production amounted to 4.5M tons in 2022, standing approx. at the year before. The total output volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 8.3%. Over the period under review, global production hit record highs at 4.5M tons in 2020; afterwards, it flattened through to 2022.
In value terms, peanut butter production reached $11.5B in 2022 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23% against the previous year. Global production peaked at $12.2B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Production By Country
The country with the largest volume of peanut butter production was China (906K tons), comprising approx. 20% of total volume. Moreover, peanut butter production in China exceeded the figures recorded by the second-largest producer, the United States (284K tons), threefold. The third position in this ranking was held by India (273K tons), with a 6.1% share.
From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: the United States (+0.6% per year) and India (+5.3% per year).
Imports
World Imports of Peanut Butter And Prepared Or Preserved Groundnuts
In 2022, overseas purchases of peanut butter and prepared or preserved groundnuts increased by 1.6% to 686K tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 10% against the previous year. Global imports peaked at 704K tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.
In value terms, peanut butter imports expanded slightly to $1.8B in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 12%. Over the period under review, global imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.
Imports By Country
The purchases of the seven major importers of peanut butter and prepared or preserved groundnuts, namely France, the United States, Japan, Germany, South Korea, Canada and the UK, represented more than third of total import. The following importers - Poland (14K tons), Saudi Arabia (14K tons), Sweden (13K tons), Australia (12K tons), Russia (12K tons) and Mexico (12K tons) - each finished at an 11% share of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mexico (with a CAGR of +9.7%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest peanut butter importing markets worldwide were France ($148M), the United States ($141M) and Japan ($108M), together comprising 22% of global imports. Germany, Canada, the UK, South Korea, Saudi Arabia, Mexico, Poland, Sweden, Australia and Russia lagged somewhat behind, together comprising a further 31%.
In terms of the main importing countries, Mexico, with a CAGR of +11.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average peanut butter import price amounted to $2,671 per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 4.8% against the previous year. Global import price peaked at $2,846 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($3,295 per ton), while Russia ($1,945 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+1.4%), while the other global leaders experienced mixed trends in the import price figures.
Exports
World Exports of Peanut Butter And Prepared Or Preserved Groundnuts
In 2022, overseas shipments of peanut butter and prepared or preserved groundnuts were finally on the rise to reach 824K tons for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 12%. As a result, the exports attained the peak of 1.2M tons. From 2018 to 2022, the growth of the global exports failed to regain momentum.
In value terms, peanut butter exports expanded remarkably to $2.1B in 2022. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. As a result, the exports attained the peak of $2.5B. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.
Exports By Country
China was the main exporter of peanut butter and prepared or preserved groundnuts in the world, with the volume of exports accounting for 285K tons, which was near 35% of total exports in 2022. The Netherlands (109K tons) took the second position in the ranking, followed by the United States (71K tons), Argentina (47K tons) and India (41K tons). All these countries together took approx. 33% share of total exports. Poland (36K tons), Germany (28K tons), Canada (24K tons), Belgium (23K tons) and Mexico (21K tons) took a relatively small share of total exports.
China experienced a relatively flat trend pattern with regard to volume of exports of peanut butter and prepared or preserved groundnuts. At the same time, India (+22.7%), Belgium (+17.1%), Poland (+12.2%), the Netherlands (+5.6%), Mexico (+4.3%), Canada (+3.7%) and Germany (+1.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.7% from 2012-2022. By contrast, the United States (-1.2%) and Argentina (-16.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, India, Poland and Belgium increased by +6.2, +4.4, +3.1 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest peanut butter supplying countries worldwide were China ($598M), the Netherlands ($318M) and the United States ($213M), with a combined 54% share of global exports. Poland, Germany, India, Canada, Argentina, Mexico and Belgium lagged somewhat behind, together accounting for a further 26%.
Among the main exporting countries, India, with a CAGR of +26.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average peanut butter export price amounted to $2,541 per ton, dropping by -2.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 14% against the previous year. The global export price peaked at $2,609 per ton in 2021, and then contracted in the following year.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($3,449 per ton), while Argentina ($1,658 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.3%), while the other global leaders experienced mixed trends in the export price figures.
This report provides an in-depth analysis of the global peanut butter market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10392330 - Prepared or preserved groundnuts (including peanut butter, e xcluding by vinegar or acetic acid, frozen, purees and pastes)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
This report provides an in-depth analysis of the global peanut butter market.
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In 2015, the countries with the highest levels of nut production were China (X thousand tons), Mexico (X thousand tons), Indonesia (X thousand tons), together accounting for X% of total output.
Turkey is one of the leaders in the global nut trade. In 2014, Turkey exported X thousand tons of nuts totaling X million USD, X% over the previous year. Its primary trading partner was Italy, where it supplied X% of its total nut exports in
Thailand dominates in the global trade of prepared or preserved pineapples. In 2014, Thailand exported X thousand tons of prepared or preserved pineapples totaling X million USD, which was X million USD less than the year before. Its primary trad