Africa: Areca Nut Market 2024

Areca Nut Market Size in Africa

For the third consecutive year, the African areca nut market recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption showed a noticeable descent. The most prominent rate of growth was recorded in 2020 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Areca Nut Production in Africa

In value terms, areca nut production soared to $X in 2023 estimated in export price. In general, production showed significant growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, production reached the peak level in 2023 and is expected to retain growth in the near future.

South Africa (X tons) constituted the country with the largest volume of areca nut production, accounting for X% of total volume. Moreover, areca nut production in South Africa exceeded the figures recorded by the second-largest producer, Nigeria (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume in South Africa amounted to X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Tanzania (X% per year).

Areca Nut Exports

Exports in Africa

In 2023, shipments abroad of areca nuts increased by X% to X tons, rising for the sixth year in a row after two years of decline. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, areca nut exports rose significantly to $X in 2023. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports hit record highs in 2023 and are expected to retain growth in years to come.

Exports by Country

South Africa prevails in exports structure, recording X tons, which was approx. X% of total exports in 2023. The following exporters - Nigeria (X tons) and Tanzania (X tons) - each accounted for a X% share of total exports.

South Africa was also the fastest-growing in terms of the areca nuts exports, with a CAGR of X% from 2012 to 2023. At the same time, Nigeria (X%) and Tanzania (X%) displayed positive paces of growth. From 2012 to 2023, the share of South Africa increased by X percentage points.

In value terms, South Africa ($X) remains the largest areca nut supplier in Africa, comprising X% of total exports. The second position in the ranking was held by Tanzania ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa stood at X%. In the other countries, the average annual rates were as follows: Tanzania (X% per year) and Nigeria (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced a decline in the export price figures.

Areca Nut Imports

Imports in Africa

In 2023, areca nut imports in Africa declined notably to X tons, with a decrease of X% against 2022 figures. Over the period under review, imports saw a perceptible downturn. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.

In value terms, areca nut imports contracted rapidly to $X in 2023. Overall, imports continue to indicate a slight descent. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

Imports by Country

South Africa dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2023. Democratic Republic of the Congo (X tons) held the second position in the ranking, followed by Morocco (X tons). All these countries together held approx. X% share of total imports. Mauritius (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to areca nut imports into South Africa stood at X%. At the same time, Democratic Republic of the Congo (X%), Mauritius (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Democratic Republic of the Congo emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2023. Democratic Republic of the Congo (X p.p.), Morocco (X p.p.) and Mauritius (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported areca nuts in Africa, comprising X% of total imports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total imports. It was followed by Morocco, with a X% share.

In South Africa, areca nut imports declined by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Democratic Republic of the Congo (X% per year) and Morocco (X% per year).

Import Prices by Country

The import price in Africa stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Mauritius ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mauritius (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform