Saudi Arabia: Peanut Butter Market 2025

Peanut Butter Market Size in Saudi Arabia

The Saudi peanut butter market totaled $X in 2022, increasing by 6.9% against the previous year. In general, consumption recorded resilient growth. 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 Saudi Arabia

In value terms, peanut butter production rose rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The growth pace was the most rapid in 2014 when the production volume increased by 110%. 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 Saudi Arabia

After two years of growth, overseas shipments of peanut butter and prepared or preserved groundnuts decreased by -12.7% to X tons in 2022. Overall, exports continue to indicate a slight slump. The pace of growth was the most pronounced in 2013 with an increase of 268%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, peanut butter exports contracted to $X in 2022. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 127%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Bahrain (X tons) was the main destination for peanut butter exports from Saudi Arabia, accounting for a 74% share of total exports. Moreover, peanut butter exports to Bahrain exceeded the volume sent to the second major destination, Jordan (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Bahrain amounted to +41.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (+0.7% per year) and Kuwait (+1.5% per year).

In value terms, Bahrain ($X) remains the key foreign market for peanut butter and prepared or preserved groundnuts exports from Saudi Arabia, comprising 78% of total exports. The second position in the ranking was held by Kuwait ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bahrain totaled +33.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+4.2% per year) and Jordan (-13.0% per year).

Export Prices by Country

In 2022, the average peanut butter export price amounted to $X per ton, rising by 7.2% against the previous year. Overall, the export price, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2014 when the average export price increased by 40% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Kuwait ($X per ton), while the average price for exports to Jordan ($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 Qatar (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Saudi Arabia

Peanut butter imports into Saudi Arabia expanded significantly to X tons in 2022, with an increase of 7.8% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 17%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, peanut butter imports reached $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 13% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Canada (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main suppliers of peanut butter imports to Saudi Arabia, together accounting for 68% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +10.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter suppliers to Saudi Arabia were the United Arab Emirates ($X), the United States ($X) and Canada ($X), together accounting for 79% of total imports.

In terms of the main suppliers, the United States, with a CAGR of +11.6%, saw 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, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 8.5% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 Arab Emirates ($X per ton), while the price for India ($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 (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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