Report Overview

GCC Peanut Butter Market – Industry Trends & Forecast Report, 2029

GCC peanut butter market size was estimated at USD 260 million in 2022. During the forecast period between 2023 and 2029, the size of GCC peanut butter market is projected to grow at a CAGR of 9.06% reaching a value of USD 440 million by 2029. The GCC (Gulf Cooperation Council) peanut butter market is influenced by several key factors. Firstly, rising health consciousness among consumers is driving demand for nutritious and protein-rich spreads like peanut butter. Also, the growing expatriate population in GCC countries, who are familiar with peanut butter from their home countries, contributes to market growth. Further, the convenience and versatility of peanut butter as a snack or ingredient in various cuisines boost its popularity. On top of that, marketing efforts by manufacturers to promote peanut butter's health benefits and taste contribute to market expansion. These factors collectively fuel the growth of the GCC peanut butter market.

GCC Peanut Butter Market - Overview

Peanut butter is a creamy or crunchy spread made from roasted peanuts. It is a popular food product known for its rich, nutty flavor and versatility. Peanut butter is a good source of protein, healthy fats, vitamins, and minerals, including vitamin E, magnesium, and potassium. It can be used in a variety of culinary applications, from sandwiches and smoothies to baking and cooking. Also, peanut butter is a staple in many cultures worldwide and is often enjoyed as a convenient and delicious snack. However, it's essential to choose natural, unsweetened varieties to maximize their nutritional benefits.

Growth Drivers

Health Conscious Consumers

One of the key growth drivers for the GCC peanut butter market is the rising health consciousness among consumers. As people in the Gulf Cooperation Council (GCC) region increasingly prioritize healthier dietary choices, peanut butter is gaining popularity for its protein-rich and natural ingredient profile. With a growing awareness of the benefits of peanut butter, including its protein content, heart-healthy fats, and versatility as a snack or ingredient, demand is on the upswing. Health-conscious individuals are seeking nutritious alternatives, and peanut butter's reputation as a wholesome option is propelling its market expansion across the GCC countries.

Restraints

Regulatory Hurdles

GCC peanut butter market faces a significant restraint in the form of stringent regulations and import restrictions. As health and safety concerns continue to grow, GCC governments have implemented strict quality control measures and labeling requirements for food products, including peanut butter. These regulations often require costly testing and compliance procedures, hindering smaller producers' entry into the market. Also, trade barriers and import restrictions can limit the variety of peanut butter brands available in the region, restricting consumer choice. Overcoming these regulatory challenges is vital for sustained growth and innovation in the GCC peanut butter industry.

GCC Peanut Butter Market

Segmental Coverage

GCC Peanut Butter Market – By Product Type

Based on product type, GCC peanut butter market is bifurcated into Smooth Peanut Butter and Crunchy Peanut Butter segments. The smooth peanut butter segment is the larger in the GCC peanut butter market. This market is divided into two primary categories, smooth peanut butter and crunchy peanut butter, with smooth peanut butter emerging as the dominant segment. Smooth peanut butter is favored by a significant portion of consumers in the Gulf Cooperation Council (GCC) region due to its creamy texture and versatile applications in various culinary dishes, spreads, and snacks. Its popularity can be attributed to its widespread use in sandwiches, and baking, and as a complement to various Middle Eastern and international cuisines, making it the leading choice in the GCC peanut butter market.

GCC Peanut Butter Market – By Distribution Channel

By distribution channel, GCC peanut butter market is divided into Supermarkets & Hypermarkets, Convenience Stores, and Online Stores segments. The supermarkets & hypermarkets segment is the largest, capturing the majority of the market share. These traditional brick-and-mortar retail outlets offer a wide range of products and attract a significant customer base due to their accessibility and convenience. Convenience stores also play a substantial role in the market, serving consumers looking for quick and easy purchases. Meanwhile, online stores represent a growing segment, driven by the increasing trend of e-commerce and online shopping, offering consumers a convenient way to access peanut butter products.

GCC Peanut Butter Market – By Country

Geographically, the in-depth research report on the GCC peanut butter market covers Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, and Oman. Saudi Arabia is the largest country in the GCC peanut butter market, as the kingdom stands out as a significant player in the region's peanut butter industry, accounting for a substantial share of the market. With its large population and strong consumer demand for peanut butter products, Saudi Arabia has become a key market for peanut butter manufacturers and suppliers. While the other GCC countries, the UAE, Qatar, Bahrain, Kuwait, and Oman, also contribute to the market, Saudi Arabia's size and economic strength make it the dominant segment in terms of both production and consumption of peanut butter within the Gulf Cooperation Council region.

Competitive Landscape

Major players in the GCC peanut butter market include Mother Earth, Natures Choice, American Garden, JIF, Earth Goods, American Harvest, Eshmoon, and Nestlé. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Product Type

• Smooth Peanut Butter

• Crunchy Peanut Butter

By Distribution Channel

• Supermarkets & Hypermarkets

• Convenience Stores

• Online Stores

By Country

• Saudi Arabia

• UAE

• Qatar

• Bahrain

• Kuwait

• Oman

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3.  GCC Peanut Butter Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Health consciousness
         2. Urbanization
      2. Restraints
         1. Allergen concerns
         2. High price of peanut butter
      3. Opportunities
         1. Health and wellness trend
         2. Variety and flavors
      4. Challenges
         1. Counterfeit products
         2. Competition
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4.  GCC Peanut Butter Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share and Forecast
      1. By Product Type
         1. Smooth Peanut Butter
         2. Crunchy Peanut Butter
         3. Others
      2. By Distribution Channel
         1. Supermarkets and Hypermarkets
         2. Convenience Stores
         3. Online Stores
         4. Others
      3. By Country
         1. Saudi Arabia
         2. UAE
         3. Qatar
         4. Bahrain
         5. Kuwait
         6. Oman
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. GCC Peanut Butter Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of COVID-19 on GCC Peanut Butter Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Mother Earth
   2. Natures Choice
   3. American Garden
   4. JIF
   5. Earth Goods
   6. American Harvest
   7. Eshmoon
   8. Nestlé
   9. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.   Qualitative Research
      1.  Primary & Secondary Research
   2.   Quantitative Research
   3.   Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.   Breakdown of Primary Research Respondents, By Country
   5.   Assumptions & Limitations

*Financial information in case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

Figures

Figure 1       GCC Peanut Butter Segmentation

Figure 2       GCC Peanut Butter Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2021

Figure 4       GCC Peanut Butter Market Size, By Value (USD Million), 2019-2029

Figure 5       GCC Peanut Butter Market Share, By Product Type, By Value, 2019-2029

Figure 6       GCC Peanut Butter Market Share, By Distribution Channel, By Value, 2019-2029

Figure 7       GCC Peanut Butter Market Share, By Country, By Value, 2019-2029

Tables

Table 1        GCC Peanut Butter Market Size, By Value (USD Million), 2019-2029

Table 2        GCC Peanut Butter Market Share, By Product Type, By Value, 2019-2029

Table 3        GCC Peanut Butter Market Share, By Distribution Channel, By Value, 2019-2029

Table 4        GCC Peanut Butter Market Share, By Country, By Value, 2019-2029

Table 5        Mother Earth Company Overview

Table 6        Mother Earth Financial Overview

Table 7        Natures Choice Company Overview

Table 8        Natures Choice Financial Overview

Table 9        American Garden Company Overview

Table 10      American Garden Financial Overview

Table 11      JIF Company Overview

Table 12      JIF Financial Overview

Table 13      Earth Goods Company Overview

Table 14      Earth Goods Financial Overview

Table 15      American Harvest Company Overview

Table 16      American Harvest Financial Overview

Table 17      Eshmoon Company Overview

Table 18      Eshmoon Financial Overview

Table 19      Nestlé Company Overview

Table 20      Nestlé Financial Overview