The analysis of global groundnuts demand indicates that China is the leading consumer, with significant demand as of 2023, followed by India and Nigeria. While China has shown moderate growth in demand, Nigeria has demonstrated considerable increases, reflecting a robust year-on-year growth rate over the last few years. Several countries, including Argentina, Russia, and Iran, are experiencing strong growth rates, while others, like Indonesia and Vietnam, are seeing declines. Long-term trends suggest that countries such as the Central African Republic, Nigeria, and repugnant growth rates could continue to alter global demand dynamics.
Future trends to watch include the impact of economic development and changing dietary preferences, particularly in emerging markets like Africa and Asia. Sustainable agriculture practices and innovations in cultivation techniques could also influence the demand and production of groundnuts. Additionally, geopolitical factors and trade policies will play crucial roles in shaping the international trade environment for groundnuts. Moreover, potential shifts towards plant-based diets worldwide could spur increased demand in new markets.
Top countries in Groundnuts Demand by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 17,180 | 2023 | +0.41% | +0.36% | View data |
| 2 | 2 India | 6,950 | 2023 | -0.11% | +1.06% | View data |
| 3 | 3 Nigeria | 4,590 | 2023 | +1.57% | +2.29% | View data |
| 4 | 4 United States | 2,180 | 2023 | +0.41% | +0.58% | View data |
| 5 | 5 Indonesia | 1,650 | 2023 | +0.24% | -0.36% | View data |
| 6 | 6 Myanmar | 1,500 | 2023 | 0% | -0.04% | View data |
| 7 | 7 Chad | 926 | 2023 | +0.87% | +0.75% | View data |
| 8 | 8 Senegal | 759 | 2023 | +0.8% | +0.95% | View data |
| 9 | 9 Niger | 625 | 2023 | +1.57% | +2.29% | View data |
| 10 | 10 Vietnam | 583 | 2023 | +0.69% | -0.74% | View data |
