The Indonesia peanut butter market is projected to grow at a CAGR of 1.97% during the forecast period, reaching a market size of US$6.458 million in 2027 from US$5.633 million in 2020.
The growth in the food processing industry in Indonesia is anticipated to push the demand for peanut processing as well, thereby increasing the overall market share for the same. Additionally, as per the March 2022 OilSeeds and Product Annual Report by the USDA, India has a major 83% of the total export share of peanuts to Indonesia. In another instance, as per the August 2021 release by the Center for North American Studies, Indonesia has no tariffs on Indian peanuts.
No export tariff on peanuts imported from major exporters like India also plays an important role in maintaining an abundant supply of the main raw material needed to produce peanut butter, which is projected to directly affect the market for peanut butter in the country on a positive scale. Also, most of the Indonesian population being millennials or GenZ is a vital determinant in progressing the market growth rate of peanut butter in the country. Also, developments by market players are also expected to play a key role in enhancing the lucrativeness of the market. For instance, PT Kaldu Sari Nabati, in July 2021 added the peanut butter variant under the Nabati Vitakrim vitamin-fortified wafer.
As per the August 2021 upload by the Center for North American Studies, the imports of in-shell peanuts in Indonesia increased from 137,000 metric tons in 2016 to 266,000 metric tons in 2018. Additionally, according to the March 2022 Oilseeds and Products Annual Report by the United States Department of Agriculture (USDA), the projected peanut imports in Indonesia are projected to reach 400,000 metric tons by 2022/23 which is a 4% increase from 2021/22 period following the high demand from the food sector. Also, as per the source, peanut consumption in Indonesia is forecast at 1.355 MMT in 2022/23 which is also a slight increase from the previous year. Furthermore, the source also stated that farmers in Indonesia cultivate peanut crops as rotational crops to improve the soil quality between the planting sessions of main crops like rice and plant peanut crops for utilizing unused spaces between the rice paddy fields. The growth in peanut production, imports, as well as consumption of the same, are highly anticipated to influence the market for peanut butter in Indonesia in the coming years.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2020 | US$5.633 million |
| Market Size Value in 2027 | US$6.458 million |
| Growth Rate | CAGR of 1.97% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Type, Product, Packaging Type, End-User, And Distribution Channel |
| Companies Covered | Hormel Foods, LLC, PT Kaldu Sari Nabati, Bali Direct, Bali Buda, Dale's Farm - PT. David Roy Indonesia, PT. Dima Indonesia, PT Kraft Ultrajaya Indonesia |
| Customization Scope | Free report customization with purchase |
Indonesia Peanut Butter Market Segmentation: