Peanut Butter Market in Brazil
Market Overview
In 
, the Brazilian peanut butter market decreased by -% to $, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of % year-to-year. Peanut butter consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain the momentum.
In value terms, peanut butter production shrank to $ in estimated in export prices. In general, the total production indicated a notable increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2018 indices. The most prominent rate of growth was recorded in 2008 when the production volume increased by % against the previous year. Over the period under review, production attained the maximum level at $ in 2018; however, from 2019 to , production remained at a lower figure.
, the Brazilian peanut butter market decreased by -% to $, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 with an increase of % year-to-year. Peanut butter consumption peaked at $ in 2018; however, from 2019 to , consumption failed to regain the momentum.In value terms, peanut butter production shrank to $
in estimated in export prices. In general, the total production indicated a notable increase from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2018 indices. The most prominent rate of growth was recorded in 2008 when the production volume increased by % against the previous year. Over the period under review, production attained the maximum level at $ in 2018; however, from 2019 to , production remained at a lower figure.Consumption
In , consumption of peanut butter and prepared or preserved groundnuts decreased by -% to tonnes, falling for the second year in a row after four years of growth. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the consumption volume increased by % y-o-y. Over the period under review, consumption hit record highs at tonnes in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.
The value of the peanut butter market in Brazil reduced to $ in , falling by -% 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 ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 when the market value increased by % year-to-year. Peanut butter consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.
, consumption of peanut butter and prepared or preserved groundnuts decreased by -% to tonnes, falling for the second year in a row after four years of growth. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2008 when the consumption volume increased by % y-o-y. Over the period under review, consumption hit record highs at tonnes in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.The value of the peanut butter market in Brazil reduced to $
in , falling by -% 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 ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2008 when the market value increased by % year-to-year. Peanut butter consumption peaked at $ in 2018; however, from 2019 to , consumption remained at a lower figure.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 retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 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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