Prepared or preserved groundnuts market in Asia

Earlier Report Observations

The market volume for prepared or preserved groundnuts in India grew from 310.2 thousand tonnes in 2018 to 542.6 thousand tonnes in 2023, a 75% increase. This expansion was driven by a surge in health-conscious consumption during the COVID-19 pandemic in 2020, which boosted demand for protein-rich snacks, supported by government policies to stabilize prices and assist farmers. After a contraction in 2021, the market grew sharply in 2022, fueled by policy shifts promoting organic farming practices and the rapid expansion of distribution channels, including e-commerce platforms.

Structural changes in the industry underpinned this growth. The entry of new players into processing and export, along with the launch of large-scale production facilities from 2021, significantly enhanced domestic capacity. In 2023, major companies announced further capacity expansions, while regulatory changes to improve food safety standards and export certifications ensured product quality met international requirements. Concurrently, the market saw the emergence of new product segments like ready-to-eat snacks and health supplements, diversifying the consumer offering.

Throughout the period, state-owned agricultural bodies and government schemes, notably the PM-KISAN program, provided consistent financial support to groundnut farmers, contributing to stable production. Consumer preferences increasingly shifted towards organic and traceable products, a trend reinforced by labeling and packaging requirements aligned with global standards, which helped integrate Indian groundnuts into international supply chains.

Production prepared or preserved groundnuts in Asia

In kind, 2017-2020, K t

Top producers of prepared or preserved groundnuts, 2017-2020

World map of production of prepared or preserved groundnuts, 2017-2020

Asia's production of prepared or preserved groundnuts rebounded after two consecutive years of decline. In 2019, output hit its lowest point at 451.9 thousand tons, marking a 6.7% decrease from the previous year. However, by 2020, production had recovered to 516.4 thousand tons, representing a 14.3% increase compared to 2019. Over the entire period from 2017 to 2020, production grew by 2.7%, which translates to an average annual growth rate of 0.9%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Following two years of contraction, the value of Asia's prepared or preserved groundnuts production showed a strong recovery. In 2019, the value dropped to its minimum of 1 162 million US dollars, an 8.4% decline from the previous year. By 2020, however, production value had surged to 1 438 million US dollars, reflecting a significant 23.8% year-over-year increase. From 2017 to 2020, the overall value growth was 13.2%, averaging 4.2% per year.

Annual dynamics of production in Asia in value, 2017-2020, M $ US

Exports prepared or preserved groundnuts from Asia

Exports in kind, K t

Asia's exports of prepared or preserved groundnuts in volume terms continued to decline for the third straight year. In 2020, exports stood at 246.8 thousand tons, showing a modest 6.0% decrease compared to the previous year. Over the 2017-2020 period, exports fell by 25.5%, with a compound annual growth rate of -9.3%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

Between 2017 and 2020, Asia's exports of prepared or preserved groundnuts in volume terms were highly diversified across destinations. The top three markets—the Netherlands (4.0% of exports), Spain (4.0%), and Algeria (2.6%)—collectively accounted for just 10.6% of total flows. The remaining 89.4% was distributed among a wide array of other countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

After two years of decline, the value of Asia's prepared or preserved groundnuts exports saw a slight uptick. In 2019, export value reached its lowest point at 674.7 million US dollars, down 12.1% from the previous year. By 2020, exports had increased to 687.2 million US dollars, reflecting a modest 1.8% year-over-year growth. However, over the 2017-2020 period, export value still decreased by 17.9%, with a compound annual growth rate of -6.4%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, Asia's prepared or preserved groundnuts exports in value terms were characterized by a highly diversified partner structure. The Netherlands (3.5% of exports), Spain (3.4%), and Algeria (2.3%) together represented only 9.2% of total flows. The vast majority—90.8%—was spread across numerous smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports prepared or preserved groundnuts to Asia

Imports in kind, K t

Asia's imports of prepared or preserved groundnuts in volume terms rebounded after two years of decline. In 2019, imports hit their lowest point at 104.3 thousand tons. The largest drop occurred in 2018, with a 22.4% decrease. By 2020, imports had surged to 146.7 thousand tons, marking a substantial 40.6% increase compared to 2019. Over the 2017-2020 period, imports decreased by 4.4%, with a compound annual growth rate of -1.5%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

Between 2017 and 2020, Asia's imports of prepared or preserved groundnuts in volume terms were widely scattered across source countries. The United States (7.8% of imports), Argentina (5.7%), and Canada (2.1%) together accounted for only 15.6% of total flows, with no single partner emerging as clearly dominant.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

Following two years of decline, the value of Asia's prepared or preserved groundnuts imports showed a recovery. In 2019, import value reached its minimum at 432.5 million US dollars, down 8.4% from the previous year. By 2020, imports had increased to 491.2 million US dollars, reflecting a 13.6% year-over-year growth.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, Asia's imports of prepared or preserved groundnuts in value terms were highly dispersed across partner countries. The United States (12.4% of imports), Argentina (4.7%), and Canada (2.7%) together represented just 19.8% of total flows, with the remainder spread across numerous other markets.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020