Saudi Arabia: Peanut Butter Market 2022

Peanut Butter Market Size in Saudi Arabia

The Saudi peanut butter market dropped markedly to $X in 2021, with a decrease of -X% against the previous year. Over the period under review, consumption, however, enjoyed strong growth. Peanut butter consumption peaked at $X in 2020, and then fell significantly in the following year.

Peanut Butter Production in Saudi Arabia

In value terms, peanut butter production dropped dramatically to $X in 2021 estimated in export price. In general, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Peanut butter production peaked at $X in 2020, and then fell dramatically in the following year.

Peanut Butter Exports

Exports from Saudi Arabia

After seven years of decline, shipments abroad of peanut butter and prepared or preserved groundnuts increased by X% to X tons in 2021. Over the period under review, exports, however, continue to indicate a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, peanut butter exports skyrocketed to $X in 2021. In general, exports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Ethiopia (X tons) 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, Yemen (X tons), fourfold. India (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ethiopia amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Yemen (+X% per year) and India (-X% per year).

In value terms, Yemen ($X), Ethiopia ($X) and the United Arab Emirates ($X) were the largest markets for peanut butter exported from Saudi Arabia worldwide, together accounting for X% of total exports.

Yemen, with a CAGR of +X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average peanut butter export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Yemen ($X per ton), while the average price for exports to Ethiopia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+X%), while the prices for the other major destinations experienced a decline.

Peanut Butter Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was decline in overseas purchases of peanut butter and prepared or preserved groundnuts, when their volume decreased by -X% to X tons. The total import volume increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked at X tons in 2020, and then declined modestly in the following year.

In value terms, peanut butter imports dropped to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

The United Arab Emirates (X tons), Canada (X tons) and China (X tons) were the main suppliers of peanut butter imports to Saudi Arabia, together accounting for X% of total imports. The United States, India and Argentina lagged somewhat behind, together accounting for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter suppliers to Saudi Arabia were the United Arab Emirates ($X), Canada ($X) and the United States ($X), together accounting for X% of total imports. These countries were followed by China, India and Argentina, which together accounted for a further X the main suppliers, Argentina, with a CAGR of +X%, 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 2021, the average peanut butter import price amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight increase. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably countryorigin: the country with the highest price was the United Arab Emirates ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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