Global Kola Nut Market 2024

Kola Nut Market Size

The global kola nut market dropped to $X in 2023, falling by X% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the global market remained at a lower figure.

Kola Nut Production

In value terms, kola nut production contracted to $X in 2023 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, global production hit record highs at $X in 2014; however, from 2015 to 2023, production remained at a lower figure.

Nigeria (X tons) constituted the country with the largest volume of kola nut production, accounting for X% of total volume. Moreover, kola nut production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (X tons), threefold. The third position in this ranking was taken by Cameroon (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume in Nigeria totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Cote d'Ivoire (X% per year) and Cameroon (X% per year).

In 2023, the global average yield of kola nuts expanded slightly to X tons per ha, rising by X% against the previous year's figure. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the average kola nut yield reached the maximum level at X tons per ha in 2020; however, from 2021 to 2023, the yield remained at a 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, approx. X ha of kola nuts were harvested worldwide; which is down by X% against the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to kola nut production attained the peak figure at X ha in 2015; however, from 2016 to 2023, the harvested area remained at a lower figure.

Kola Nut Exports

Exports

For the third year in a row, the global market recorded growth in shipments abroad of kola nuts, which increased by X% to X tons in 2023. In general, exports recorded a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the global exports attained the maximum at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, kola nut exports stood at $X in 2023. Over the period under review, exports continue to indicate a modest increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

Ghana was the major exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Cote d'Ivoire (X tons) and Jamaica (X tons), together constituting a X% share of total exports. Sierra Leone (X tons), Nigeria (X tons) and France (X tons) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Nigeria (X%), France (X%), Sierra Leone (X%) and Jamaica (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Jamaica (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Jamaica ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of global exports. Sierra Leone, France and Nigeria lagged somewhat behind, together comprising a further X%.

France, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average kola nut export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. The global export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other global leaders experienced mixed trends in the export price figures.

Kola Nut Imports

Imports

After two years of growth, overseas purchases of kola nuts decreased by X% to X tons in 2023. Overall, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, global imports reached the peak figure at X tons in 2022, and then reduced modestly in the following year.

In value terms, kola nut imports dropped notably to $X in 2023. Over the period under review, imports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, global imports hit record highs at $X in 2017; however, from 2018 to 2023, imports failed to regain momentum.

Imports by Country

Burkina Faso prevails in imports structure, recording X tons, which was approx. X% of total imports in 2023. It was distantly followed by Bahrain (X tons), achieving a X% share of total imports. The following importers - Ghana (X tons), France (X tons) and the United States (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to kola nut imports into Burkina Faso stood at X%. At the same time, Bahrain (X%) and France (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2023. By contrast, the United States (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.) and Ghana (X p.p.) increased significantly in terms of the global imports from 2012-2023, the share of France (X p.p.) and the United States (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) constitutes the largest market for imported kola nuts worldwide, comprising X% of global imports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of global imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Bahrain amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (X% per year) and the United States (X% per year).

Import Prices by Country

The average kola nut import price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

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 Bahrain ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform