Czech Republic: Peanut Butter Market 2024

Peanut Butter Market Size in the Czech Republic

In 2022, after two years of growth, there was decline in the Czech peanut butter market, when its value decreased by -1.3% to $X. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Peanut Butter Production in the Czech Republic

In value terms, peanut butter production skyrocketed to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +119.3% against 2015 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Peanut Butter Exports

Exports from the Czech Republic

In 2022, overseas shipments of peanut butter and prepared or preserved groundnuts increased by 16% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 32%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, peanut butter exports amounted to $X in 2022. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by 47%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Slovakia (X tons), Germany (X tons) and Croatia (X tons) were the main destinations of peanut butter exports from the Czech Republic, together comprising 64% 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 Croatia (with a CAGR of +38.6%), while the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X) remains the key foreign market for peanut butter and prepared or preserved groundnuts exports from the Czech Republic, comprising 35% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports. It was followed by Hungary, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia amounted to +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+7.3% per year) and Hungary (+24.6% per year).

Export Prices by Country

In 2022, the average peanut butter export price amounted to $X per ton, with a decrease of -13.5% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 an increase of 23% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Germany ($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 Hungary (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into the Czech Republic

In 2022, approx. X tons of peanut butter and prepared or preserved groundnuts were imported into the Czech Republic; approximately mirroring the previous year's figure. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 47% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, peanut butter imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 17% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest peanut butter supplier to the Czech Republic, accounting for a 44% share of total imports. Moreover, peanut butter imports from Poland exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), twofold. The third position in this ranking was taken by Argentina (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Poland totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+9.9% per year) and Argentina (+1.7% per year).

In value terms, Poland ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to the Czech Republic, comprising 43% of total imports. The second position in the ranking was taken by Slovakia ($X), with a 17% share of total imports. It was followed by Argentina, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+7.7% per year) and Argentina (-0.6% per year).

Import Prices by Country

In 2022, the average peanut butter import price amounted to $X per ton, reducing by -4.4% against the previous year. Over the period under review, the import price recorded a mild downturn. The most prominent rate of growth was recorded in 2021 an increase of 9.4%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 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 the UK ($X per ton), while the price for Argentina ($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 UK (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :