MENA: Peanut Butter Market 2024

Peanut Butter Market Size in MENA

The MENA's peanut butter market shrank to $X in 2022, falling by X% against the previous year. Over the period under review, consumption posted a strong increase. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Peanut Butter Production in MENA

In value terms, peanut butter production dropped modestly to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Peanut Butter Exports

Exports in MENA

In 2022, overseas shipments of peanut butter and prepared or preserved groundnuts increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, peanut butter exports skyrocketed to $X in 2022. In general, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) prevails in exports structure, together generating X% of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Kuwait ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced a decline in the export price figures.

Peanut Butter Imports

Imports in MENA

In 2022, supplies from abroad of peanut butter and prepared or preserved groundnuts decreased by X% to X tons, falling for the fourth year in a row after four years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, peanut butter imports dropped to $X in 2022. The total import value increased at an average annual rate of X% 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 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), Iraq (X tons), the United Arab Emirates (X tons), Iran (X tons), Israel (X tons) and Yemen (X tons) represented roughly X% of total imports in 2022. The following importers - Turkey (X tons), Algeria (X tons), Oman (X tons), Kuwait (X tons), Qatar (X tons), Libya (X tons) and Palestine (X tons) - together made up X% 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 Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported peanut butter and prepared or preserved groundnuts in MENA, comprising X% of total imports. The second position in the ranking was held by Israel ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, peanut butter imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Israel (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform