Australia Peanut Butter Market Report and Forecast 2025-2034

Australia Peanut Butter Market Outlook 

The Australia peanut butter market size reached USD 151.85 million in 2023. The market is expected to grow at a CAGR of 3.67% between 2024 and 2032, reaching almost USD 210.22 million by 2032.

Key Takeaways:

• As per the US Department of Agriculture, in 2022, most peanut products in Australia were primarily produced in Queensland, accounting for 92% of the total peanut production, while New South Wales contributed 6% of the total peanut production.

• As reported by the US Department of Agriculture, Australia's peanut production for the year 2022/23 amounted to 16,000 tonnes, thereby contributing to the Australia peanut butter market growth. 

• Australia's imports of raw peanuts (groundnuts) from Turkey amounted to USD 1.21 thousand in 2021, as reported by the United Nations COMTRADE database on international trade.

Reduced-fat peanut butter is driving growth in the Australia peanut butter market, frequently selected by individuals looking to control their weight or enhance their dietary habits

Reduced-fat peanut butter presents a healthier choice with reduced fat content, appealing to health-conscious consumers. It offers a guilt-free treat with fewer calories while preserving the classic peanut butter flavour.

Creamy peanut butter boasts a smooth, easily spreadable texture, perfect for spreading on bread, crackers, and fruits. It provides convenience and versatility in usage, appealing to those who favour a softer, smoother consistency over chunkier varieties.

Further, companies have been focusing on expanding their portfolio to improve their market position. For instance, Snickers Creamy Peanut Butter was launched in Australia for a limited time only.

Simultaneously, Kellogg expanded its cereal offerings by introducing a limited-edition Nutri-Grain Peanut Butter Flavour cereal in collaboration with Bega. This range combined Kellogg's cereal bar crunchiness with Bega's peanut butter. The release followed previous collaborations with Nutri-Grain x Oak Plus and Coco Pops x Golden Gaytime.

Market Segmentation

Australia Peanut Butter Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Spread Type

• Reduced Fat

• Creamy

• Crunchy/Chunky

• Natural

• Honey Roasted

• Others

Market Breakup by Product Type

• Low Sugar

• Regular

• Low Sodium

• Plain

Market Breakup by Packaging Type

• Pouches

• Jars

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Online Stores

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia peanut butter market key players are Ambrosia Australia, Scoop Wholefoods Pty Ltd., Pepe Saya Butter Co., Bega Cheese Limited, and Live Life Nutrition Pty Ltd. among others. 

Key Highlights of the Report