CIS: Peanut Butter Market 2023

Peanut Butter Market Size in CIS

The CIS peanut butter market reached $X in 2021, picking up by 2.5% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in years to come.

Peanut Butter Production in CIS

In value terms, peanut butter production amounted to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 32%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Peanut Butter Exports

Exports in CIS

Peanut butter exports surged to X tons in 2021, jumping by 30% on the previous year. Over the period under review, exports recorded a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 211% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, peanut butter exports soared to $X in 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 114% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Russia was the key exporting country with an export of about X tons, which reached 83% of total exports. It was distantly followed by Uzbekistan (X tons), comprising a 13% share of total exports.

Russia was also the fastest-growing in terms of the peanut butter and prepared or preserved groundnuts exports, with a CAGR of +33.7% from 2012 to 2021. Uzbekistan (-31.9%) illustrated a downward trend over the same period. While the share of Uzbekistan (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Russia (-1.7 p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest peanut butter supplier in the CIS, comprising 86% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with an 8.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Russia totaled +25.8%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, increasing by 3.5% against the previous year. Over the period under review, the export price, however, saw a deep setback. The pace of growth was the most pronounced in 2019 when the export price increased by 13%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Russia ($X per ton), while Uzbekistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+10.2%).

Peanut Butter Imports

Imports in CIS

In 2021, approx. X tons of peanut butter and prepared or preserved groundnuts were imported in the CIS; rising by 17% on the previous year. Over the period under review, imports recorded strong growth. The growth pace was the most rapid in 2017 with an increase of 70%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, peanut butter imports surged to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.3% against 2017 indices. The growth pace was the most rapid in 2017 when imports increased by 56% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

In 2021, Kazakhstan (X tons) and Russia (X tons) were the key importers of peanut butter and prepared or preserved groundnuts in the CIS, together constituting 68% of total imports. It was distantly followed by Belarus (X tons) and Azerbaijan (X tons), together making up a 24% share of total imports. The following importers - Moldova (X tons) and Kyrgyzstan (X tons) - together made up 6.5% of total imports.

From 2012 to 2021, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +19.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Kazakhstan ($X) and Belarus ($X) were the countries with the highest levels of imports in 2021, together accounting for 85% of total imports. Azerbaijan, Moldova and Kyrgyzstan lagged somewhat behind, together comprising a further 13%.

In terms of the main importing countries, Azerbaijan, with a CAGR of +22.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, almost unchanged from the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 8.9%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Azerbaijan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+16.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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