The Middle East and Africa Peanut Butter market was valued at USD 0.34 million in 2024 and is anticipated to reach USD 0.50 billion by 2032, with a CAGR of 4.94% during the forecast period.
Peanut butter is a food paste or spread made from ground, dry-roasted peanuts. It contains additional salt, sweeteners, or emulsifiers to modify taste or texture. Peanut butter offers several health benefits, enhancing the skin glow and creating healthy hair.
The increasing awareness among people regarding peanut butter's health benefits contributes significantly to regional market growth. The rising prevalence of lifestyle-related disorders like high blood pressure and obesity, which influence people to adopt healthy lifestyles, including a balanced diet including nuts, fruits, and others, is boosting the market revenue across the region. The increasing use of peanut butter in various cuisines is fueling the adoption rate in the region as it is considered kitchen essential in most countries. The escalating trend of plant-based and organic foods is gaining traction due to the rising number of vegans seeking protein-rich foods with non-animal sources. These factors are accelerating the adoption across the region, leading to expansion of the market size. The growing strategic movements by the manufacturers in advertising and production, which are gaining traction across the people, propel the regional market share. Most market players invest in research activities to develop more consumer-friendly flavors, positively impacting the region's market growth. Growing technological advancements in the food and beverage industry are the growth of the peanut butter market, which is augmenting the growth of the Middle East and Africa.
The primary factor restraining the peanut butter market in the Middle East and Africa is the presence of high-fat content in peanut butter, which leads to weight gain and cardiovascular problems when consumed in excess. Another significant factor is that peanuts cause severe anaphylaxis in some people. Anaphylaxis can be life-threatening if it is not treated at the correct time. This is expected to hamper the market growth across the region due to limited adoption. The need for more awareness among the people regarding the health benefits of peanut butter and the presence of other alternative protein-rich foods is estimated to hinder the market expansion across the region.
The growing introduction of new peanut butter flavors attracts people and leads to diverse taste preferences, which is expected to provide growth opportunities for market expansion. The ease of availability and sustainability are enhancing the adoption rate across the region. Various characteristics like longer shelf-life, high nutritional density, and different flavors are estimated to expand the opportunities for the manufacturers in terms of market size expansion. During the forecast periods, the increasing demand for peanut butter for various food applications will expand the Middle East and Africa's peanut butter market size. The insufficient raw materials supply leads to the high cost of the product, which is expected to limit the adoption across the people due to unaffordability by low-income people, which is a significant challenge for the manufacturers. The presence of stringent regulations and import restrictions for peanut butter is expected to impede the market expansion in the region.
The regular peanut butter product segment dominated the Middle East and Africa peanut butter market revenue. Regular peanut butter is highly adopted among children and adults, and a concentrated source of nutrition offering potential health benefits drives the segment's growth. Regular peanut butter is highly preferred due to its longer shelf-life, consisting of sugar and hydrogenated vegetable oil, fueling the segment's growth.
The low-sodium segment is expected to grow fastest during the forecast period as it is an excellent choice for people seeking a low-salt intake. Most people on diets, such as gym and sports, prefer low-sodium peanut butter as it is gluten-free, palm oil-free, and made without chemical preservatives. These characteristics are estimated to boost the adoption rate in the region over the forecast period.
The supermarket segment held the largest share of the regional market revenue due to ease of availability and a wide range of consumer options. The supermarkets consist of a wide range of products with different flavors, which eases consumers' choice according to their requirements, giving the segment growth. The presence of a vast distribution network is driving the supermarkets and hypermarkets segment, leading to the expansion of the market size in the region.
Online retailers are estimated to have the fastest growth during the forecast period. E-commerce has gained traction recently due to price offers, modes of payment, and door delivery, which are boosting the adoption of e-commerce services in the region.
African region dominated the Middle East and Africa's peanut butter market revenue due to the wide adoption of healthy food products. Increasing awareness among people regarding the health benefits of peanut butter is increasing the country's market revenue. As peanut butter can be the go-to option for breakfast and snacks, people are encouraged to adopt it due to their busy, sedentary lifestyle. The growing population across the GCC countries, with an awareness of peanut butter, contributes to the region's market growth. Most people in GCC countries prioritize healthier dietary choices, escalating the demand for peanut butter with a protein-rich and natural ingredient profile. The increasing marketing strategies and efforts by the manufacturers to promote peanut butter health benefits and flavors are raising the market revenue across countries like the UAE and Israel. Saudi Arabia is the most significant contributor to the GCC peanut butter market as it consists of a substantial market share of peanut butter.
Companies playing a key role in the Middle East and Africa peanut butter market include Procter & Gamble, Unilever, The J.M. Smucker Company, Hormel Foods Corporation, Boulder Brands Inc., Kraft Canada Inc. and Algood Food Company Inc.
Frequently Asked Questions
Peanut butter is rich in protein, healthy fats, fiber, vitamins (such as vitamin E and B vitamins), minerals (including magnesium, phosphorus, and potassium), and antioxidants. It provides sustained energy, supports muscle growth and repair, and promotes heart health, among other benefits.
Yes, there are various types of peanut butter available, including smooth, creamy, crunchy, unsalted, salted, natural, organic, and flavored variants such as chocolate, honey, and cinnamon. Each type offers a unique taste and texture to suit different preferences.
Peanut butter is not suitable for individuals with peanut allergies, as it can cause severe allergic reactions. However, there are alternative nut or seed butter options available for those with allergies or dietary restrictions.
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