China: Peanut Butter Market 2025

Peanut Butter Market Size in China

In 2022, the Chinese peanut butter market decreased by -1.1% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Peanut Butter Production in China

In value terms, peanut butter production rose slightly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 9.1% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Peanut Butter Exports

Exports from China

In 2022, shipments abroad of peanut butter and prepared or preserved groundnuts increased by 7.3% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 50% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, peanut butter exports totaled $X in 2022. In general, exports, however, saw a pronounced decrease. The pace of growth appeared the most rapid in 2017 when exports increased by 22%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons), Indonesia (X tons) and South Korea (X tons) were the main destinations of peanut butter exports from China, with a combined 42% share of total exports. The Philippines, the Netherlands, Thailand, Malaysia, Iran, Russia, the United Arab Emirates, Iraq, Kazakhstan and Saudi Arabia lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +23.4%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Indonesia ($X) and South Korea ($X) were the largest markets for peanut butter exported from China worldwide, with a combined 41% share of total exports. The Philippines, the Netherlands, Malaysia, Thailand, Iran, Russia, the United Arab Emirates, Iraq, Kazakhstan and Saudi Arabia lagged somewhat behind, together comprising a further 35%.

Iraq, with a CAGR of +18.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, falling by -4.1% against the previous year. Overall, the export price continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2020 when the average export price increased by 13% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and Japan ($X per ton), while the average price for exports to Iran ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.3%), while the prices for the other major destinations experienced a decline.

Peanut Butter Imports

Imports into China

In 2022, approx. X tons of peanut butter and prepared or preserved groundnuts were imported into China; therefore, remained relatively stable against the previous year's figure. Overall, imports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2020 with an increase of 29% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, peanut butter imports expanded rapidly to $X in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Thailand (X tons) and New Zealand (X tons) were the main suppliers of peanut butter imports to China, together accounting for 75% of total imports. Vietnam, Japan, Australia and Indonesia lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +150.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter suppliers to China were New Zealand ($X), the United States ($X) and Thailand ($X), with a combined 82% share of total imports. Vietnam, Japan, Australia and Indonesia lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, Vietnam, with a CAGR of +147.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average peanut butter import price stood at $X per ton in 2022, rising by 5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The pace of growth was the most pronounced in 2021 when the average import price increased by 26% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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