Middle East: Peanut Butter Market 2024

Peanut Butter Market Size in the Middle East

The Middle Eastern peanut butter market dropped to $X in 2022, reducing by X% against the previous year. In general, consumption, however, saw a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Peanut Butter Production in the Middle East

In value terms, peanut butter production fell modestly to $X in 2022 estimated in export price. In general, production continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Peanut Butter Exports

Exports in the Middle East

In 2022, overseas shipments of peanut butter and prepared or preserved groundnuts increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, peanut butter exports surged to $X in 2022. Overall, exports saw a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) prevails in exports structure, together mixing up X% of total exports. Kuwait (X tons) took a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

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

Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the export price in the Middle East amounted to $X per ton, declining by X% against the previous year. Overall, the export price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. 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.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 the Middle East

In 2022, purchases abroad of peanut butter and prepared or preserved groundnuts decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% 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 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, peanut butter imports reduced to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

The countries with the highest levels of peanut butter imports in 2022 were Saudi Arabia (X tons), Iraq (X tons), the United Arab Emirates (X tons), Iran (X tons), Israel (X tons) and Yemen (X tons), together recording X% of total import. Turkey (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%. 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

In 2022, the import price in the Middle East amounted to $X per ton, dropping by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood 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 Israel ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform