U.S.: Peanut Butter Market 2025

Peanut Butter Market Size in the U.S.

In 2022, the U.S. peanut butter market increased by 0.7% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a perceptible decline. The pace of growth appeared the most rapid in 2018 when the market value increased by 6%. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Peanut Butter Production in the U.S.

In value terms, peanut butter production fell modestly to $X in 2022. In general, production saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 5.9%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Peanut Butter Exports

Exports from the U.S.

In 2022, peanut butter exports from the United States shrank to X tons, waning by -8.9% compared with 2021. In general, exports continue to indicate a mild setback. The most prominent rate of growth was recorded in 2013 with an increase of 42% 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 shrank modestly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 34%. 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

Canada (X tons), Mexico (X tons) and South Korea (X tons) were the main destinations of peanut butter exports from the United States, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +15.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for peanut butter exported from the United States were Canada ($X), Mexico ($X) and South Korea ($X), with a combined 62% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +18.0%, saw 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

In 2022, the average peanut butter export price amounted to $X per ton, with an increase of 8.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 the Netherlands ($X per ton), while the average price for exports to Norway ($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 the Netherlands (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into the U.S.

In 2022, imports of peanut butter and prepared or preserved groundnuts into the United States reduced slightly to X tons, with a decrease of -4.8% against 2021. Overall, imports showed a pronounced setback. The pace of growth was the most pronounced in 2016 with an increase of 19%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, peanut butter imports stood at $X in 2022. Over the period under review, imports continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2017 when imports increased by 13% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X tons), Canada (X tons) and Argentina (X tons) were the main suppliers of peanut butter imports to the United States, together accounting for 90% of total imports. India, China and Brazil lagged somewhat behind, together accounting for a further 8.2%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter suppliers to the United States were Canada ($X), Mexico ($X) and Argentina ($X), together comprising 90% of total imports. India, Brazil and China lagged somewhat behind, together comprising a further 6.8%.

In terms of the main suppliers, India, with a CAGR of +11.7%, 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

In 2022, the average peanut butter import price amounted to $X per ton, rising by 6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 13%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 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 Canada ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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