IndexBox has just published a new report: ‘EU – Peanut Butter And Prepared Or Preserved Groundnuts – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

In 2019, the EU peanut butter market decreased by -6.8% to $1.4B, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by 11% against the previous year. As a result, consumption attained the peak level of $1.5B. From 2018 to 2019, the growth of the market remained at a somewhat lower figure.

Consumption by Country

The countries with the highest volumes of peanut butter consumption in 2019 were the UK (103K tonnes), Germany (92K tonnes) and France (72K tonnes), with a combined 55% share of total consumption. Poland, Spain, the Netherlands, Belgium, Portugal, Bulgaria, Sweden, Denmark and the Czech Republic lagged somewhat behind, together comprising a further 31%.

From 2013 to 2019, the most notable rate of growth in terms of peanut butter consumption, amongst the main consuming countries, was attained by Denmark, while peanut butter consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest peanut butter markets in the European Union were the UK ($395M), Germany ($252M) and France ($177M), with a combined 60% share of the total market. Spain, Poland, the Netherlands, Bulgaria, Belgium, Sweden, Denmark, the Czech Republic and Portugal lagged somewhat behind, together accounting for a further 27%.

The countries with the highest levels of peanut butter per capita consumption in 2019 were Denmark (1.76 kg per person), Bulgaria (1.65 kg per person) and the UK (1.53 kg per person).

Production in the EU

In 2019, after four years of growth, there was a decline in the production of peanut butter and prepared or preserved groundnuts, when its volume decreased by -1.5% to 451K tonnes. The total output volume increased at an average annual rate of +3.2% over the period from 2013 to 2019; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period.

Production by Country

The countries with the highest volumes of peanut butter production in 2019 were the Netherlands (101K tonnes), Germany (79K tonnes) and the UK (66K tonnes), with a combined 54% share of total production. Poland, Spain, France, Belgium, Italy, Portugal, Hungary, Luxembourg and Bulgaria lagged somewhat behind, together accounting for a further 40%.

From 2013 to 2019, the biggest increases were in Luxembourg, while peanut butter production for the other leaders experienced more modest paces of growth.

Imports in the EU

In 2019, purchases abroad of peanut butter and prepared or preserved groundnuts decreased by -10.6% to 256K tonnes, falling for the second consecutive year after five years of growth. The total import volume increased at an average annual rate of +1.6% over the period from 2013 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of imports peaked at 318K tonnes in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure. In value terms, peanut butter imports shrank to $688M (IndexBox estimates) in 2019.

Imports by Country

In 2019, France (52K tonnes), the UK (50K tonnes) and Germany (39K tonnes) was the largest importer of peanut butter and prepared or preserved groundnuts in the European Union, comprising 55% of total import. It was distantly followed by the Netherlands (12K tonnes) and Sweden (12K tonnes), together achieving a 9.4% share of total imports. Austria (10K tonnes), Poland (9.4K tonnes), the Czech Republic (8.8K tonnes), Belgium (8.4K tonnes), Romania (6.5K tonnes), Spain (6.3K tonnes) and Ireland (5.5K tonnes) followed a long way behind the leaders.

From 2013 to 2019, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Austria, while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($129M), the UK ($117M) and Germany ($102M) were the countries with the highest levels of imports in 2019, together comprising 51% of total imports. These countries were followed by the Netherlands, Sweden, Austria, Poland, Belgium, the Czech Republic, Spain, Ireland and Romania, which together accounted for a further 33%.

Import Prices by Country

The peanut butter import price in the European Union stood at $2,684 per tonne in 2019, with an increase of 2.4% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 10% against the previous year.

Average prices varied somewhat amongst the major importing countries. In 2019, major importing countries recorded the following prices: in the Netherlands ($3,252 per tonne) and Ireland ($3,184 per tonne), while the Czech Republic ($2,283 per tonne) and the UK ($2,350 per tonne) were amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by the Netherlands, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform