Global Groundnuts Market 2024

Groundnuts Market Size

The global groundnuts market amounted to $X in 2022, almost unchanged from the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the market value increased by X%. Global consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Groundnuts Production

In value terms, groundnuts production rose to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were China (X tons), India (X tons) and Nigeria (X tons), with a combined X% share of global production. The United States, Sudan, Senegal, Myanmar, Argentina, Guinea and Chad lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Senegal (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

The global average groundnuts yield expanded to X tons per ha in 2022, growing by X% compared with the previous year. Overall, the yield recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the yield attained the peak level of X tons per ha. From 2021 to 2022, the growth of the average groundnuts yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ground-nut (in-shell) production worldwide fell to X ha, waning by X% compared with 2021 figures. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the harvested area reached the peak level of X ha, and then contracted in the following year.

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Groundnuts Exports

Exports

In 2022, overseas shipments of ground-nut (in-shell) decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the global exports failed to regain momentum.

In value terms, groundnuts exports rose sharply to $X in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the global exports remained at a lower figure.

Exports by Country

The United States dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Egypt (X tons), India (X tons) and China (X tons), together mixing up a X% share of total exports. The following exporters - Israel (X tons), Uzbekistan (X tons) and Lao People's Democratic Republic (X tons) - each accounted for a X% share of total exports.

The United States was also the fastest-growing in terms of the ground-nut (in-shell) exports, with a CAGR of X% from 2012 to 2022. At the same time, India (X%), Israel (X%) and Egypt (X%) displayed positive paces of growth. By contrast, Lao People's Democratic Republic (X%), Uzbekistan (X%) and China (X%) illustrated a downward trend over the same period. While the share of the United States (X p.p.), India (X p.p.) and Uzbekistan (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Egypt (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest groundnuts supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Egypt ($X), with an X% share of global exports. It was followed by China, with a X% share.

In the United States, groundnuts exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (X% per year) and China (X% per year).

Export Prices by Country

The average groundnuts export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, 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 Israel ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

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

Groundnuts Imports

Imports

Global groundnuts imports declined markedly to X tons in 2022, with a decrease of X% on the previous year. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Global imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, groundnuts imports reduced dramatically to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Global imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the main importing country with an import of about X tons, which recorded X% of total imports. Germany (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Italy (X%) and Spain (X%). The following importers - Thailand (X tons), Canada (X tons), Malaysia (X tons), Nepal (X tons), Afghanistan (X tons) and France (X tons) - together made up X% of total imports.

China was also the fastest-growing in terms of the ground-nut (in-shell) imports, with a CAGR of X% from 2012 to 2022. At the same time, Canada (X%), Afghanistan (X%), Nepal (X%), Germany (X%), France (X%), Malaysia (X%), Spain (X%) and Thailand (X%) displayed positive paces of growth. Italy experienced a relatively flat trend pattern. China (X p.p.), Germany (X p.p.) and Canada (X p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest groundnuts importing markets worldwide were China ($X), Germany ($X) and Italy ($X), with a combined X% share of global imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. Global import price peaked at $X per ton in 2013; afterwards, it flattened through to 2022.

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 Italy ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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