Japan: Peanut Butter Market 2024

Peanut Butter Market Size in Japan

In 2022, the Japanese peanut butter market decreased by -12% to $X, falling for the second year in a row after three years of growth. In general, consumption saw a relatively flat trend pattern. Peanut butter consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Peanut Butter Production in Japan

In value terms, peanut butter production rose sharply to $X in 2022 estimated in export price. In general, production showed a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 59% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Peanut Butter Exports

Exports from Japan

In 2022, shipments abroad of peanut butter and prepared or preserved groundnuts increased by 0.5% to X tons, rising for the third consecutive year after two years of decline. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 44% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, peanut butter exports fell sharply to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 49% against the previous year. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Taiwan (Chinese) (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of peanut butter exports from Japan, together accounting for 56% of total exports. The United States, Singapore, Saudi Arabia and South Korea lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +41.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for peanut butter exported from Japan were Taiwan (Chinese) ($X), the United States ($X) and Hong Kong SAR ($X), with a combined 56% share of total exports. Singapore, China, Saudi Arabia and South Korea lagged somewhat behind, together accounting for a further 37%.

Among the main countries of destination, Singapore, with a CAGR of +41.5%, recorded the highest growth rate of 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, with a decrease of -17.8% against the previous year. In general, the export price recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 31% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 Singapore (+0.2%), while the prices for the other major destinations experienced mixed trend patterns.

Peanut Butter Imports

Imports into Japan

In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into Japan shrank to X tons, reducing by -7.9% on the previous year's figure. Over the period under review, imports continue to indicate a perceptible decline. The pace of growth appeared the most rapid in 2017 with an increase of 8.9% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, peanut butter imports shrank to $X in 2022. In general, imports continue to indicate a pronounced setback. The growth pace was the most rapid in 2017 when imports increased by 11% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main peanut butter supplier to Japan, accounting for a 96% share of total imports. It was followed by the United States (X tons), with a 3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -2.7%.

In value terms, China ($X) constituted the largest supplier of peanut butter and prepared or preserved groundnuts to Japan, comprising 91% of total imports. The second position in the ranking was held by the United States ($X), with a 7.5% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -3.9%.

Import Prices by Country

The average peanut butter import price stood at $X per ton in 2022, reducing by -4.5% against the previous year. Over the period under review, the import price continues to indicate a slight decline. The growth pace was the most rapid in 2020 when the average import price increased by 9.2% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.2%).

Source: IndexBox Platform

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