Cameroon: Peanut Butter Market 2024

Peanut Butter Market Size in Cameroon

The Cameroonian peanut butter market shrank modestly to $X in 2022, waning by -1.9% against the previous year. In general, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Peanut Butter Production in Cameroon

In value terms, peanut butter production contracted slightly to $X in 2022 estimated in export price. Overall, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.8% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 60%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Peanut Butter Exports

Exports from Cameroon

After two years of growth, shipments abroad of peanut butter and prepared or preserved groundnuts decreased by -14.3% to X tons in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 406% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, peanut butter exports stood at $X in 2022. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 521%. Over the period under review, the exports hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports by Country

The United States (X tons), Belgium (X tons) and Canada (X tons) were the main destinations of peanut butter exports from Cameroon, together comprising 31% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +42.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for peanut butter exported from Cameroon were the United States ($X), Canada ($X) and Switzerland ($X), with a combined 54% share of total exports. Belgium and Benin lagged somewhat behind, together accounting for a further 5.9%.

In terms of the main countries of destination, Belgium, with a CAGR of +48.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average peanut butter export price stood at $X per ton in 2022, picking up by 17% against the previous year. In general, the export price, however, recorded a slight descent. The pace of growth appeared the most rapid in 2015 when the average export price increased by 29% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Cameroon

In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into Cameroon fell dramatically to X tons, with a decrease of -44.7% on the previous year's figure. Overall, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 709%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, peanut butter imports fell significantly to $X in 2022. In general, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 when imports increased by 563% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

France (X tons), the United States (X kg) and the United Arab Emirates (X kg) were the main suppliers of peanut butter imports to Cameroon, together comprising 80% of total imports. India, the Netherlands, South Africa, Thailand and Spain lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +31.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Cameroon, comprising 50% of total imports. The second position in the ranking was taken by the United States ($X), with a 24% share of total imports. It was followed by the Netherlands, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled -10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.1% per year) and the Netherlands (+20.3% per year).

Import Prices by Country

In 2022, the average peanut butter import price amounted to $X per ton, surging by 4% against the previous year. Over the period under review, the import price, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2017 an increase of 38%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for the United Arab Emirates ($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 States (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform