Report Latin America and the Caribbean - Peanut Butter and Prepared or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Feb 2, 2023

Latin America and the Caribbean - Peanut Butter and Prepared or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends and Insights

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Latin America and the Caribbean: Peanut Butter Market 2023

Peanut Butter Market Size in Latin America and the Caribbean

The Latin American peanut butter market surged to $X in 2021, increasing by 17% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +78.1% against 2016 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in years to come.

Peanut Butter Production in Latin America and the Caribbean

In value terms, peanut butter production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 18% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Peanut Butter Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of peanut butter and prepared or preserved groundnuts decreased by -7.5% to X tons, falling for the fifth year in a row after two years of growth. In general, exports showed a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 27% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, peanut butter exports shrank slightly to $X in 2021. Over the period under review, exports faced a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 17%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Argentina was the key exporting country with an export of around X tons, which resulted at 47% of total exports. Mexico (X tons) took the second position in the ranking, distantly followed by Brazil (X tons) and El Salvador (X tons). All these countries together took approx. 43% share of total exports. The following exporters - Trinidad and Tobago (X tons), Honduras (X tons) and Nicaragua (X tons) - together made up 6.5% of total exports.

From 2012 to 2021, the biggest increases were recorded for Nicaragua (with a CAGR of +25.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter supplying countries in Latin America and the Caribbean were Argentina ($X), Mexico ($X) and Brazil ($X), with a combined 77% share of total exports. These countries were followed by El Salvador, Trinidad and Tobago, Honduras and Nicaragua, which together accounted for a further 17%.

In terms of the main exporting countries, Nicaragua, with a CAGR of +25.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 7.3% against the previous year. Export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, peanut butter export price increased by +64.5% against 2016 indices. The growth pace was the most rapid in 2020 when the export price increased by 31%. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Trinidad and Tobago ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Honduras (+1.0%), while the other leaders experienced mixed trends in the export price figures.

Peanut Butter Imports

Imports in Latin America and the Caribbean

In 2021, supplies from abroad of peanut butter and prepared or preserved groundnuts increased by 6.6% to X tons, rising for the sixth year in a row after two years of decline. Total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.5% against 2015 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 41%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, peanut butter imports soared to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.8% against 2015 indices. The growth pace was the most rapid in 2013 when imports increased by 25% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Mexico (X tons) and Chile (X tons) represented the key importers of peanut butter and prepared or preserved groundnuts in Latin America and the Caribbean, together mixing up 44% of total imports. Guatemala (X tons) held the next position in the ranking, followed by Uruguay (X tons), Panama (X tons) and the Dominican Republic (X tons). All these countries together held near 29% share of total imports. The following importers - Colombia (X tons), Jamaica (X tons), Peru (X tons), Costa Rica (X tons), Honduras (X tons) and Guyana (X tons) - together made up 17% of total imports.

From 2012 to 2021, the biggest increases were recorded for Panama (with a CAGR of +77.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Guatemala ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 53% share of total imports. These countries were followed by the Dominican Republic, Panama, Jamaica, Uruguay, Costa Rica, Colombia, Peru, Honduras and Guyana, which together accounted for a further 36%.

In terms of the main importing countries, Panama, with a CAGR of +73.3%, recorded 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 Latin America and the Caribbean stood at $X per ton in 2021, rising by 8.2% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Dominican Republic ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Colombia (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for peanut butter and prepared or preserved groundnuts in LatAmerica and the Caribbean?
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The countries with the highest volumes of consumption in 2021 were Argentina, Brazil and Mexico, with a combined 60% share of total consumption.
What are the largest producers of peanut butter and prepared or preserved groundnuts in LatAmerica and the Caribbean?
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The countries with the highest volumes of production in 2021 were Argentina, Brazil and Mexico, together accounting for 66% of total production. These countries were followed by Colombia, Venezuela, Peru, Chile, Ecuador, El Salvador, Cuba, the Dominican Republic, Bolivia and Honduras, which together accounted for a further 28%.
What are the leading suppliers of peanut butter and prepared or preserved groundnuts in LatAmerica and the Caribbean?
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In value terms, the largest peanut butter supplying countries in Latin America and the Caribbean were Argentina, Mexico and Brazil, together accounting for 77% of total exports. El Salvador, Trinidad and Tobago, Honduras and Nicaragua lagged somewhat behind, together accounting for a further 17%.
What are the leading importers of peanut butter and prepared or preserved groundnuts in LatAmerica and the Caribbean?
+
In value terms, the largest peanut butter importing markets in Latin America and the Caribbean were Mexico, Chile and Guatemala, together comprising 53% of total imports. The Dominican Republic, Panama, Jamaica, Uruguay, Costa Rica, Colombia, Peru, Honduras and Guyana lagged somewhat behind, together accounting for a further 36%.
What is the average export price for peanut butter and prepared or preserved groundnuts in LatAmerica and the Caribbean?
+
In 2021, the export price in Latin America and the Caribbean amounted to $2,230 per ton, with an increase of 7.3% against the previous year.
What is the average import price for peanut butter and prepared or preserved groundnuts in LatAmerica and the Caribbean?
+
The import price in Latin America and the Caribbean stood at $2,741 per ton in 2021, rising by 8.2% against the previous year.

This report provides an in-depth analysis of the peanut butter market in Latin America and the Caribbean. 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:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Physical Terms, By Country, 2012–2022
Table 7:
Imports, In Value Terms, By Country, 2012–2022
Table 8:
Import Prices, By Country Of Destination, 2012–2022
Table 9:
Exports, In Physical Terms, By Country, 2012–2022
Table 10:
Exports, In Value Terms, By Country, 2012–2022
Table 11:
Export Prices, By Country Of Origin, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2012–2022
Figure 17:
Production, In Value Terms, 2012–2022
Figure 18:
Production, By Country, 2022
Figure 19:
Production, In Physical Terms, By Country, 2012–2022
Figure 20:
Imports, In Physical Terms, 2012–2022
Figure 21:
Imports, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, By Country, 2022
Figure 23:
Imports, In Physical Terms, By Country, 2012–2022
Figure 24:
Imports, In Value Terms, By Country, 2012–2022
Figure 25:
Import Prices, By Country, 2012–2022
Figure 26:
Exports, In Physical Terms, 2012–2022
Figure 27:
Exports, In Value Terms, 2012–2022
Figure 28:
Exports, In Physical Terms, By Country, 2022
Figure 29:
Exports, In Physical Terms, By Country, 2012–2022
Figure 30:
Exports, In Value Terms, By Country, 2012–2022
Figure 31:
Export Prices, 2012–2022
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