Asia: Peanut Butter Market 2024

Peanut Butter Market Size in Asia

The Asian peanut butter market reached $X in 2023, approximately equating the previous year. The total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Peanut Butter Production in Asia

In value terms, peanut butter production totaled $X in 2023 estimated in export price. The total production indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Peanut Butter Exports

Exports in Asia

In 2023, shipments abroad of peanut butter and prepared or preserved groundnuts increased by X% to X tons, rising for the second year in a row after four years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2023, the growth of the exports remained at a lower figure.

In value terms, peanut butter exports rose significantly to $X in 2023. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, China (X tons) represented the main exporter of peanut butter and prepared or preserved groundnuts, making up X% of total exports. It was distantly followed by India (X tons), achieving a X% share of total exports. Thailand (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%) and Thailand (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of India increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest peanut butter supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: India (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Overall, the export price continues to indicate a slight decrease. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the export price figures.

Peanut Butter Imports

Imports in Asia

In 2023, purchases abroad of peanut butter and prepared or preserved groundnuts decreased by X% to X tons, falling for the sixth year in a row after six years of growth. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a lower figure.

In value terms, peanut butter imports rose to $X in 2023. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, imports reached the peak of $X. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons) and South Korea (X tons) represented the main importers of peanut butter and prepared or preserved groundnuts in 2023, resulting at approx. X% and X% of total imports, respectively. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (X%). Malaysia (X tons), Iran (X tons), Hong Kong SAR (X tons), Saudi Arabia (X tons), the Philippines (X tons), Kazakhstan (X tons), Singapore (X tons), Israel (X tons) and Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter importing markets in Asia were Japan ($X), South Korea ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. Hong Kong SAR, Iraq, Malaysia, Saudi Arabia, Singapore, Israel, the Philippines, Iran, Kazakhstan and Pakistan lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform