Global Peanut Butter Market 2024

Peanut Butter Market Size

In 2022, the global peanut butter market decreased by X% to $X, falling for the second consecutive year after six years of growth. Overall, the total consumption indicated a tangible increase 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, consumption decreased by X% against 2020 indices. Global consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Peanut Butter Production

In value terms, peanut butter production amounted to $X in 2022 estimated in export price. In general, the total production indicated a noticeable 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, global production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Peanut Butter Exports

Exports

After four years of decline, overseas shipments of peanut butter and prepared or preserved groundnuts increased by X% to X tons in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, peanut butter exports rose remarkably to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the global exports remained at a lower figure.

Exports by Country

China represented the major exporting country with an export of about X tons, which accounted for X% of total exports. The Netherlands (X tons) ranks second in terms of the total exports with a X% share, followed by the United States (X%), Argentina (X%) and India (X%). Poland (X tons), Germany (X tons), Canada (X tons), Belgium (X tons) and Mexico (X tons) held a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of peanut butter and prepared or preserved groundnuts. At the same time, India (X%), Belgium (X%), Poland (X%), the Netherlands (X%), Mexico (X%), Canada (X%) and Germany (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. By contrast, the United States (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, India, Poland and Belgium increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the Netherlands ($X) and the United States ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of global exports. Poland, Germany, India, Canada, Argentina, Mexico and Belgium lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded 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 global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average peanut butter export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The global export price peaked at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Peanut Butter Imports

Imports

In 2022, overseas purchases of peanut butter and prepared or preserved groundnuts increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. Global imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, peanut butter imports expanded modestly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

The countries with the highest levels of peanut butter imports in 2022 were France (X tons), the United States (X tons), Japan (X tons), Germany (X tons), South Korea (X tons), Canada (X tons) and the UK (X tons), together accounting for X% of total import. The following importers - Poland (X tons), Saudi Arabia (X tons), Sweden (X tons), Australia (X tons), Russia (X tons) and Mexico (X tons) - each resulted at an X% share of total imports.

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

In value terms, France ($X), the United States ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of global imports. Germany, Canada, the UK, South Korea, Saudi Arabia, Mexico, Poland, Sweden, Australia and Russia lagged somewhat behind, together comprising a further X%.

Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 peanut butter import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Global import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform