India: Peanut Butter Market 2024

Peanut Butter Market Size in India

The Indian peanut butter market expanded modestly to $X in 2022, surging by 1.8% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 -0.7% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Peanut Butter Production in India

In value terms, peanut butter production amounted to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 16% 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 India

In 2022, the amount of peanut butter and prepared or preserved groundnuts exported from India reached X tons, increasing by 14% compared with 2021 figures. In general, exports showed a significant increase. The growth pace was the most rapid in 2014 when exports increased by 74%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, peanut butter exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 71%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons), Afghanistan (X tons) and South Africa (X tons) were the main destinations of peanut butter exports from India, with a combined 28% share 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 Afghanistan (with a CAGR of +329.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for peanut butter exported from India were Afghanistan ($X), the United Arab Emirates ($X) and Kenya ($X), together accounting for 29% of total exports.

In terms of the main countries of destination, Afghanistan, with a CAGR of +440.8%, 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

In 2022, the average peanut butter export price amounted to $X per ton, growing by 3.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The pace of growth appeared the most rapid in 2021 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Iraq ($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 Afghanistan (+26.1%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into India

In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into India expanded rapidly to X tons, surging by 14% on 2021. Overall, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 1,109% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, peanut butter imports skyrocketed to $X in 2022. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 1,191%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Brazil (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of peanut butter imports to India, with a combined 91% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +579.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Brazil ($X) and Taiwan (Chinese) ($X) constituted the largest peanut butter suppliers to India, with a combined 92% share of total imports.

Brazil, with a CAGR of +427.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, growing by 3% against the previous year. In general, the import price, however, saw a pronounced curtailment. The pace of growth appeared the most rapid in 2020 when the average import price increased by 60%. The import price peaked at $X per ton in 2015; however, from 2016 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 Thailand ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+8.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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