Saudi Arabia: Peanut Butter Market Overview 2021

Peanut Butter Market Size in Saudi Arabia

For the third consecutive year, the Saudi peanut butter market recorded growth in sales value, which increased by X% to $X in 2019. In general, the total consumption indicated a tangible expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2012 with an increase of X% against the previous year. Peanut butter consumption peaked in 2019 and is likely to see gradual growth in the immediate term.

Peanut Butter Production in Saudi Arabia

In value terms, peanut butter production shrank to $X in 2019 estimated in export prices. Over the period under review, the total production indicated a tangible expansion from 2007 to 2019: its value decreased at an average annual rate of -X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% y-o-y. Peanut butter production peaked at $X in 2018, and then fell in the following year.

Peanut Butter Exports

Exports from Saudi Arabia

In 2019, the amount of peanut butter and prepared or preserved groundnuts exported from Saudi Arabia stood at X tonnes, increasing by X% compared with 2018. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2012 with an increase of X% y-o-y. Exports peaked in 2019 and are expected to retain growth in the immediate term.

In value terms, peanut butter exports rose remarkably to $X in 2019. Overall, exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, exports attained the maximum in 2019 and are likely to see steady growth in the immediate term.

Exports by Country

Ethiopia (X tonnes) was the main destination for peanut butter exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, peanut butter exports to Ethiopia exceeded the volume sent to the second major destination, Qatar (X tonnes), more than tenfold.

From 2007 to 2019, the average annual growth rate of volume to Ethiopia amounted to +X%.

In value terms, Ethiopia ($X) remains the key foreign market for peanut butter exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was occupied by Qatar ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Ethiopia totaled +X%.

Export Prices by Country

The average peanut butter export price stood at $X per tonne in 2019, picking up by X% against the previous year. In general, export price indicated a moderate expansion from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, peanut butter export price increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2008 an increase of X% year-to-year. Over the period under review, average export prices hit record highs at $X per tonne in 2013; however, from 2014 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Qatar ($X per tonne), while the average price for exports to Ethiopia totaled $X per tonne.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Qatar.

Peanut Butter Imports

Imports into Saudi Arabia

In 2019, the amount of peanut butter and prepared or preserved groundnuts imported into Saudi Arabia soared to X tonnes, picking up by X% compared with 2018 figures. Overall, total imports indicated resilient growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports decreased by -X% against 2017 indices. The growth pace was the most rapid in 2008 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

In value terms, peanut butter imports expanded sharply to $X in 2019. In general, imports showed a resilient expansion. The pace of growth appeared the most rapid in 2008 with an increase of X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

Imports by Country

Canada (X tonnes), the United Arab Emirates (X tonnes) and the U.S. (X tonnes) were the main suppliers of peanut butter imports to Saudi Arabia, with a combined X% share of total imports. China, India and Argentina lagged somewhat behind, together accounting for a further X 2007 to 2019, the biggest increases were in Argentina, while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), the U.S. ($X) and Canada ($X) were the largest peanut butter suppliers to Saudi Arabia, together accounting for X% of total imports.

Among the main suppliers, the U.S. 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

In 2019, the average peanut butter import price amounted to $X per tonne, falling by -X% against the previous year. Over the period under review, import price indicated moderate growth from 2007 to 2019: its price increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, peanut butter import price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2010 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per tonne in 2018, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was the United Arab Emirates ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for peanut butter and prepared or preserved groundnuts in the world?

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China (859K tonnes) remains the largest peanut butter consuming country worldwide, accounting for 17% of total volume. Moreover, peanut butter consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (374K tonnes), twofold. The third position in this ranking was occupied by India (332K tonnes), with a 6.5% share.

What are the largest producers of peanut butter and prepared or preserved groundnuts in the world?

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China (1.2M tonnes) constituted the country with the largest volume of peanut butter production, accounting for 23% of total volume. Moreover, peanut butter production in China exceeded the figures recorded by the second-largest producer, the U.S. (408K tonnes), threefold. The third position in this ranking was occupied by India (352K tonnes), with a 6.7% share.

What are the leading suppliers of peanut butter and prepared or preserved groundnuts to Saudi Arabia?

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In value terms, the United Arab Emirates ($15M), the U.S. ($10M) and Canada ($9.3M) constituted the largest peanut butter suppliers to Saudi Arabia, together accounting for 81% of total imports.

What are the leading importers of peanut butter and prepared or preserved groundnuts from Saudi Arabia?

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In value terms, Ethiopia ($1.5M) remains the key foreign market for peanut butter exports from Saudi Arabia, comprising 75% of total exports. The second position in the ranking was occupied by Qatar ($374K), with a 18% share of total exports.

What is the average export price for peanut butter and prepared or preserved groundnuts in Saudi Arabia?

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In 2019, the average peanut butter export price amounted to $4,204 per tonne, picking up by 5.1% against the previous year.

What is the average import price for peanut butter and prepared or preserved groundnuts in Saudi Arabia?

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The average peanut butter import price stood at $2,960 per tonne in 2019, dropping by -11.1% against the previous year.