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Nigeria - Kola Nuts - Market Analysis, Forecast, Size, Trends and Insights
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View PricingNigeria: Kola Nut Market 2024
Kola Nut Market Size in Nigeria
The Nigerien kola nut market dropped remarkably to $X in 2023, which is down by X% against the previous year. Overall, consumption showed a dramatic setback. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.
Kola Nut Production in Nigeria
In value terms, kola nut production reduced sharply to $X in 2023 estimated in export price. Over the period under review, production recorded a dramatic shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a somewhat lower figure.
In 2023, the average yield of kola nuts in Nigeria expanded significantly to X tons per ha, surging by X% compared with the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the yield increased by X% against the previous year. The kola nut yield peaked at X tons per ha in 2020; however, from 2021 to 2023, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2023, the total area harvested in terms of kola nuts production in Nigeria fell to X ha, which is down by X% against 2022. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to kola nut production reached the maximum at X ha in 2015; however, from 2016 to 2023, the harvested area failed to regain momentum.
Kola Nut Exports
Exports from Nigeria
For the fourth year in a row, Nigeria recorded growth in shipments abroad of kola nuts, which increased by X% to X tons in 2023. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.
In value terms, kola nut exports reduced notably to $X in 2023. In general, exports saw a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.
Exports by Country
Niger (X tons), Cameroon (X tons) and the United Arab Emirates (X tons) were the main destinations of kola nut exports from Nigeria, together accounting for X% of total exports. South Africa and Bahrain lagged somewhat behind, together comprising a further X%.
From 2015 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, Niger ($X) emerged as the key foreign market for kola nuts exports from Nigeria, comprising X% of total exports. The second position in the ranking was taken by Cameroon ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.
From 2015 to 2023, the average annual growth rate of value to Niger stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cameroon (X% per year) and the United Arab Emirates (X% per year).
Export Prices by Country
In 2023, the average kola nut export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price showed a significant contraction. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Cameroon ($X per ton) was amongst the lowest.
From 2015 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (X%), while the prices for the other major destinations experienced a decline.
Kola Nut Imports
Imports into Nigeria
After two years of growth, supplies from abroad of kola nuts decreased by X% to X tons in 2023. In general, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2022, and then fell sharply in the following year.
In value terms, kola nut imports contracted rapidly to $X in 2023. Over the period under review, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2014 with an increase of X%. Imports peaked at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.
Imports by Country
Ghana (X tons), Cote d'Ivoire (X tons) and Niger (X tons) were the main suppliers of kola nut imports to Nigeria, with a combined X% share of total imports.
From 2013 to 2023, the biggest increases were recorded for Niger (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Cote d'Ivoire ($X) constituted the largest supplier of kola nuts to Nigeria, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports.
From 2013 to 2023, the average annual growth rate of value from Cote d'Ivoire stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Niger (X% per year).
Import Prices by Country
The average kola nut import price stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Niger ($X per ton), while the price for Ghana ($X per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the kola nut market in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 224 - Kolanuts
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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