Mexico - Peanut Butter And Prepared Or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMexico's Peanut Butter Exports Soar to a Record $72M in 2023
Mexico Peanut Butter Exports
In 2023, exports of peanut butter and prepared or preserved groundnuts from Mexico rose significantly to 23K tons, with an increase of 8.9% compared with the year before. Over the period under review, total exports indicated a temperate increase from 2013 to 2023: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by +79.4% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33%. The exports peaked in 2023 and are likely to see steady growth in the near future.
In value terms, peanut butter exports soared to $72M (IndexBox estimates) in 2023. In general, exports posted a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| COUNTRY | Export Value of Peanut Butter in Mexico (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 28.5 | 30.6 | 29.4 | 30.3 | 33.9 | 39.1 | 33.5 | 36.7 | 46.9 | 55.6 | 68.2 |
| Guatemala | 1.1 | 0.6 | 0.4 | N/A | 1.0 | 1.7 | 2.3 | 3.7 | 2.1 | 1.1 | 1.9 |
| Canada | N/A | N/A | N/A | 0.4 | 0.5 | 0.4 | 0.1 | N/A | N/A | 0.3 | 1.5 |
| Chile | 0.6 | 0.8 | 0.9 | 1.0 | 1.4 | 1.7 | 2.1 | 1.4 | 1.0 | 0.4 | N/A |
| Others | 6.8 | 1.0 | 0.9 | 0.4 | 0.1 | 0.8 | 0.7 | 0.7 | 0.3 | 0.3 | 0.1 |
| Total | 37.0 | 33.0 | 31.7 | 32.2 | 36.9 | 43.6 | 38.7 | 42.6 | 50.4 | 57.7 | 71.7 |
Exports by Country
the United States (22K tons) was the main destination for peanut butter exports from Mexico, with a 96% share of total exports. It was followed by Guatemala (629 tons), with a 2.7% share of total exports.
From 2013 to 2023, the average annual rate of growth in terms of volume to the United States totaled +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+8.1% per year) and Canada (+88.4% per year).
In value terms, the United States ($68M) remains the key foreign market for peanut butter and prepared or preserved groundnuts exports from Mexico, comprising 95% of total exports. The second position in the ranking was taken by Guatemala ($1.9M), with a 2.7% share of total exports.
From 2013 to 2023, the average annual rate of growth in terms of value to the United States amounted to +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+5.7% per year) and Canada (+93.2% per year).
Export Prices by Country
In 2023, the peanut butter price amounted to $3,131 per ton (FOB, Mexico), growing by 14% against the previous year. Over the period from 2013 to 2023, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2017 an increase of 15%. Over the period under review, the average export prices hit record highs at $3,253 per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.
Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($4,042 per ton), while the average price for exports to Guatemala ($3,064 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the peanut butter market in Mexico. 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.
Product coverage:
- Prodcom 10392330 - Prepared or preserved groundnuts (including peanut butter, e xcluding by vinegar or acetic acid, frozen, purees and pastes)
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
