Egypt: Peanut Butter Market 2024

Peanut Butter Market Size in Egypt

The Egyptian peanut butter market totaled $X in 2022, rising by 3.6% against the previous year. In general, consumption, however, posted a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Peanut Butter Production in Egypt

In value terms, peanut butter production rose slightly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 53% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Peanut Butter Exports

Exports from Egypt

In 2022, exports of peanut butter and prepared or preserved groundnuts from Egypt fell dramatically to X tons, with a decrease of -72.1% on the year before. Over the period under review, exports recorded a deep reduction. The growth pace was the most rapid in 2013 when exports increased by 133% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, peanut butter exports shrank significantly to $X in 2022. In general, exports showed a abrupt downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 170%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Lebanon (X tons) was the main destination for peanut butter exports from Egypt, with a 41% share of total exports. Moreover, peanut butter exports to Lebanon exceeded the volume sent to the second major destination, Libya (X tons), threefold. The third position in this ranking was taken by Jordan (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to Lebanon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (-7.2% per year) and Jordan (-5.5% per year).

In value terms, Lebanon ($X) emerged as the key foreign market for peanut butter and prepared or preserved groundnuts exports from Egypt, comprising 41% of total exports. The second position in the ranking was taken by Libya ($X), with a 15% share of total exports. It was followed by Jordan, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Lebanon was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (-11.5% per year) and Jordan (-2.7% per year).

Export Prices by Country

The average peanut butter export price stood at $X per ton in 2022, with a decrease of -5.1% against the previous year. Overall, export price indicated temperate growth 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 pace of growth appeared the most rapid in 2017 when the average export price increased by 50%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then fell in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Jordan ($X per ton), while the average price for exports to Iraq ($X per ton) and Libya ($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 France (+4.3%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Egypt

In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into Egypt fell rapidly to X tons, dropping by -38.9% against 2021 figures. In general, imports, however, showed a moderate increase. The pace of growth appeared the most rapid in 2015 with an increase of 111%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, peanut butter imports declined significantly to $X in 2022. Overall, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 106%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of peanut butter to Egypt, with a 59% share of total imports. Moreover, peanut butter imports from India exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Brazil (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +47.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.1% per year) and Brazil (0.0% per year).

In value terms, India ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Egypt, comprising 59% of total imports. The second position in the ranking was held by Germany ($X), with a 22% share of total imports. It was followed by Brazil, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +47.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.6% per year) and Brazil (0.0% per year).

Import Prices by Country

In 2022, the average peanut butter import price amounted to $X per ton, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 43%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for Germany ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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