Azerbaijan: Peanut Butter Market 2025

Peanut Butter Market Size in Azerbaijan

The Azerbaijani peanut butter market stood at $X in 2022, surging by 8.9% against the previous year. In general, the total consumption indicated temperate growth from 2012 to 2022: its value 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 2022 figures, consumption decreased by -13.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Peanut Butter Production in Azerbaijan

In value terms, peanut butter production expanded rapidly to $X in 2022 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 -8.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 67% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Peanut Butter Exports

Exports from Azerbaijan

In 2022, overseas shipments of peanut butter and prepared or preserved groundnuts increased by 99% to X tons, rising for the sixth consecutive year after four years of decline. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 650% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, peanut butter exports soared to $X in 2022. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 436%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Georgia (X kg) was the main destination for peanut butter exports from Azerbaijan, accounting for a 74% share of total exports. Moreover, peanut butter exports to Georgia exceeded the volume sent to the second major destination, Moldova (X kg), threefold.

From 2012 to 2022, the average annual growth rate of volume to Georgia was relatively modest.

In value terms, Georgia ($X) emerged as the key foreign market for peanut butter and prepared or preserved groundnuts exports from Azerbaijan, comprising 74% of total exports. The second position in the ranking was taken by Moldova ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia was relatively modest.

Export Prices by Country

The average peanut butter export price stood at $X per ton in 2022, approximately mirroring the previous year. In general, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, peanut butter export price increased by +71.1% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Moldova totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+8.9%).

Peanut Butter Imports

Imports into Azerbaijan

In 2022, after two years of decline, there was significant growth in overseas purchases of peanut butter and prepared or preserved groundnuts, when their volume increased by 5.4% to X tons. In general, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 with an increase of 105%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, peanut butter imports reached $X in 2022. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 149% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and Uzbekistan (X tons) were the main suppliers of peanut butter imports to Azerbaijan, with a combined 89% share of total imports. Russia, Ukraine, India, Argentina and the United Arab Emirates lagged somewhat behind, together comprising a further 10%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +45.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Azerbaijan, comprising 55% of total imports. The second position in the ranking was held by Turkey ($X), with a 27% share of total imports. It was followed by Uzbekistan, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+26.5% per year) and Uzbekistan (+23.9% per year).

Import Prices by Country

The average peanut butter import price stood at $X per ton in 2022, increasing by 7.8% against the previous year. Overall, the import price recorded a resilient expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by 98% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+24.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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