Singapore: Peanut Butter Market 2025

Peanut Butter Market Size in Singapore

In 2022, the Singaporean peanut butter market decreased by -3.5% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Peanut Butter Exports

Exports from Singapore

In 2022, shipments abroad of peanut butter and prepared or preserved groundnuts increased by 2.9% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2013 with an increase of 36% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, peanut butter exports rose modestly to $X in 2022. In general, exports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2013 with an increase of 41% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Yemen (X tons), Indonesia (X tons) and Malaysia (X tons) were the main destinations of peanut butter exports from Singapore, together comprising 47% of total exports. Brunei Darussalam, Japan, Russia, the United Arab Emirates, the Philippines, Mauritius, Hong Kong SAR, Bahrain, Cambodia and Qatar lagged somewhat behind, together comprising 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 the Philippines (with a CAGR of +67.3%), while the other leaders experienced more modest paces of growth.

In value terms, Yemen ($X), Malaysia ($X) and Indonesia ($X) appeared to be the largest markets for peanut butter exported from Singapore worldwide, with a combined 38% share of total exports. Cambodia, Brunei Darussalam, Japan, Russia, the Philippines, Qatar, the United Arab Emirates, Bahrain, Mauritius and Hong Kong SAR lagged somewhat behind, together accounting for a further 50%.

Among the main countries of destination, the Philippines, with a CAGR of +67.8%, 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, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2020 an increase of 14% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Indonesia ($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 Yemen (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Singapore

In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into Singapore dropped to X tons, leveling off at 2021 figures. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 10%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, peanut butter imports reduced to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 22% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Malaysia (X tons) and the United States (X tons) were the main suppliers of peanut butter imports to Singapore, together comprising 86% of total imports. Indonesia, New Zealand, the UK and India lagged somewhat behind, together comprising a further 8.5%.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +121.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest peanut butter suppliers to Singapore were China ($X), Malaysia ($X) and the United States ($X), with a combined 80% share of total imports. New Zealand, Indonesia, the UK and India lagged somewhat behind, together comprising a further 11%.

New Zealand, with a CAGR of +113.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average peanut butter import price amounted to $X per ton, shrinking by -2.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 11%. The import price peaked at $X per ton in 2021, and then declined in the following year.

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 New Zealand ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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