As of 2021, global peanut production reached approximately 53.6 million metric tons.
China led this production with 18.4 million metric tons, accounting for nearly one-third of the world's total. India followed as the second-largest producer, contributing just over 10 million metric tons.
The global peanut butter market was valued at $5.70 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2028, reaching an estimated $9.09 billion by 2028.
Is driven by the versatility of peanut butter as a food product and increasing consumer interest in health-conscious and natural food options.
In terms of exports, China was a significant player in 2023, with the top export flow being from China to Japan, valued at $100.19 million.
Argentina, while ranking fourth in peanut production after the U.S., China, and Vietnam, leads the world in peanut and peanut butter exportation.
In the United States, peanut production was approximately 5.89 billion pounds in 2023, with a production value of $1.61 billion.The U.S. also exported $73.45 million worth of peanut butter to Canada in 2022.
Overall, the peanut butter industry continues to expand globally, with significant contributions from major producers and exporters like China, India, the United States, and Argentina.
The global peanut butter industry has experienced notable growth in recent years, driven by increasing consumer demand for nutritious and convenient food options. In 2021, the market was valued at approximately USD 5.70 billion and is projected to reach USD 9.09 billion by 2028, with a compound annual growth rate (CAGR) of 6.9% during this period.
Health and Wellness Trends: Consumers are increasingly seeking protein-rich and low-calorie food products. Peanut butter, being a good source of protein, fiber, and healthy fats, aligns well with these preferences.
Product Innovation: Manufacturers are introducing diverse flavors and formulations, including organic and natural variants, to cater to evolving consumer tastes.
Economic Factors: Inflation and rising product costs have influenced consumer behavior, with a noticeable shift towards more affordable brands and private-label options.
Regional Insights
North America: This region holds a significant share of the peanut butter market. In 2024, the North American market was valued at 292.3 kilotons and is expected to reach 374.5 kilotons by 2033, growing at a CAGR of 2.68% from 2025 to 2033.
United States: Major brands like Jif dominate the U.S. market, holding over 30% market share in 2017, significantly outpacing competitors.
Industry Challenges
Supply Chain Issues: Factors such as climate change and crop diseases can impact peanut production, affecting the availability and pricing of peanut butter.
Changing Consumer Preferences: Some traditional products have been discontinued due to declining demand, as seen with Sanitarium Health Food Company in Australia decision to cease peanut butter production after 100 years.
The peanut butter industry continues to expand, driven by health trends and product innovation. However, it faces challenges related to economic factors and shifting consumer preferences, necessitating adaptability from manufacturers to sustain growth.
If you're looking to develop your own brand of peanut butter, several private label manufacturers offer customizable solutions to meet your specific needs. Here are some notable companies:
Nature Nux Inc.
Specializes in producing private label nut butters, including peanut butter, tailored to your specifications. They emphasize fresh production upon order, ensuring premium quality and freshness.
Nutrionex Foods
An Indian-based manufacturer and exporter offering a diverse range of peanut butter products, such as creamy, crunchy, chocolate, and natural varieties. They provide private label services with customizable options to align with your brand requirements.
Once Again Nut Butter
Focuses on organic, gluten-free nut butters, including peanut butter. They offer private label partnerships, ensuring high-quality, natural, and vegan spreads made from premium ingredients.
https://saazfoods.com/private-label-peanut-butter-manufacturer/Saaz Foods
Provides private label peanut butter manufacturing with a variety of flavors and formulations. They assist in product development and offer customizable packaging solutions to help launch your brand.
Elvita Foods
Offers private label peanut butter manufacturing with a focus on quality and customization. They provide various flavors and packaging options to suit your brand's needs.
When selecting a private label manufacturer, consider factors such as product quality, customization options, production capacity, and compliance with food safety standards. It's advisable to contact these manufacturers directly to discuss your specific requirements and obtain detailed information on their services.
