
Southern Asia - Peanut Butter and Prepared or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends and Insights
Southern Asia: Peanut Butter Market 2023
Peanut Butter Market Size in Southern Asia
In 2021, after three years of growth, there was decline in the South Asian peanut butter market, when its value decreased by -2.5% to $X. The market value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020, and then dropped slightly in the following year.
Peanut Butter Production in Southern Asia
In value terms, peanut butter production declined modestly to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +19.5% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 23%. The level of production peaked at $X in 2020, and then shrank in the following year.
Peanut Butter Exports
Exports in Southern Asia
In 2021, after two years of growth, there was significant decline in shipments abroad of peanut butter and prepared or preserved groundnuts, when their volume decreased by -23.8% to X tons. Over the period under review, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 68% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell significantly in the following year.
In value terms, peanut butter exports shrank notably to $X in 2021. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 64% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then declined sharply in the following year.
Exports by Country
India dominates exports structure, recording X tons, which was approx. 98% of total exports in 2021. Pakistan (X tons) followed a long way behind the leaders.
India was also the fastest-growing in terms of the peanut butter and prepared or preserved groundnuts exports, with a CAGR of +23.7% from 2012 to 2021. At the same time, Pakistan (+5.3%) displayed positive paces of growth. India (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -5% from 2012 to 2021, respectively.
In value terms, India ($X) remains the largest peanut butter supplier in Southern Asia, comprising 98% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 1.5% share of total exports.
From 2012 to 2021, the average annual growth rate of value in India totaled +27.8%.
Export Prices by Country
In 2021, the export price in Southern Asia amounted to $X per ton, rising by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.3%).
Peanut Butter Imports
Imports in Southern Asia
In 2021, approx. X tons of peanut butter and prepared or preserved groundnuts were imported in Southern Asia; increasing by 1.9% against the previous year's figure. Over the period under review, imports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 277%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.
In value terms, peanut butter imports rose slightly to $X in 2021. Overall, imports saw a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 197%. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.
Imports by Country
In 2021, Pakistan (X tons) was the major importer of peanut butter and prepared or preserved groundnuts, committing 55% of total imports. It was distantly followed by Afghanistan (X tons), India (X tons) and Sri Lanka (X tons), together generating a 33% share of total imports. Bangladesh (X tons), Nepal (X tons) and Maldives (X tons) held a little share of total imports.
Pakistan was also the fastest-growing in terms of the peanut butter and prepared or preserved groundnuts imports, with a CAGR of +79.4% from 2012 to 2021. At the same time, Nepal (+54.5%), India (+47.2%), Bangladesh (+44.4%), Maldives (+19.8%) and Afghanistan (+14.2%) displayed positive paces of growth. By contrast, Sri Lanka (-6.7%) illustrated a downward trend over the same period. While the share of Pakistan (+53 p.p.), India (+8.2 p.p.), Nepal (+3.7 p.p.) and Bangladesh (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Afghanistan (-11.8 p.p.) and Sri Lanka (-56.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Pakistan ($X) constitutes the largest market for imported peanut butter and prepared or preserved groundnuts in Southern Asia, comprising 47% of total imports. The second position in the ranking was held by Afghanistan ($X), with a 17% share of total imports. It was followed by India, with a 12% share.
From 2012 to 2021, the average annual rate of growth in terms of value in Pakistan amounted to +75.5%. The remaining importing countries recorded the following average annual rates of imports growth: Afghanistan (+12.7% per year) and India (+41.8% per year).
Import Prices by Country
The import price in Southern Asia stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price, however, recorded a pronounced decline. The growth pace was the most rapid in 2015 an increase of 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+2.6%), while the other leaders experienced mixed trends in the import price figures.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the peanut butter market in Southern Asia. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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