Peanut Butter Market Overview in Brazil
Market Overview
In 2019, the Brazilian peanut butter market decreased by -
% to $ for the first time since 2015, thus ending a three-year rising trend. The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2018, and then declined modestly in the following year.
In value terms, peanut butter production declined modestly to $ in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. Over the period under review, production reached the maximum level at $ in 2018, and then reduced slightly in the following year.
% to $ for the first time since 2015, thus ending a three-year rising trend. The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2018, and then declined modestly in the following year.In value terms, peanut butter production declined modestly to $
in 2019 estimated in export prices. The total output value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2008 with an increase of % y-o-y. Over the period under review, production reached the maximum level at $ in 2018, and then reduced slightly in the following year.Consumption
In 2019, the amount of peanut butter and prepared or preserved groundnuts consumed in Brazil totaled tonnes, approximately equating the previous year. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. Peanut butter consumption peaked in 2019 and is expected to retain growth in the immediate term.
The size of the peanut butter market in Brazil declined modestly to $ in 2019, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 when the market value increased by % y-o-y. Peanut butter consumption peaked at $ in 2018, and then dropped in the following year.
tonnes, approximately equating the previous year. The total consumption volume increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of % y-o-y. Peanut butter consumption peaked in 2019 and is expected to retain growth in the immediate term.The size of the peanut butter market in Brazil declined modestly to $
in 2019, remaining relatively unchanged against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 when the market value increased by % y-o-y. Peanut butter consumption peaked at $ in 2018, and then dropped in the following year.Market Forecast
Driven by increasing demand for peanut butter in Brazil, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Market Structure
Over the period under review, imports of peanut butter in Brazil were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for peanut butter.
Trade Balance
This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.
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