Global Kola Nut Market 2024

Kola Nut Market Size

The global kola nut market fell to $X in 2022, waning by -5.4% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the global market remained at a somewhat lower figure.

Kola Nut Production

In value terms, kola nut production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a mild setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 41%. As a result, production attained the peak level of $X. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Nigeria (X tons) constituted the country with the largest volume of kola nut production, accounting for 55% 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 held by Cameroon (X tons), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume in Nigeria totaled +2.4%. The remaining producing countries recorded the following average annual rates of production growth: Cote d'Ivoire (-0.7% per year) and Cameroon (+0.4% per year).

The global average kola nut yield shrank slightly to X kg per ha in 2022, stabilizing at 2021. Overall, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by 5.7%. As a result, the yield attained the peak level of X kg per ha. From 2015 to 2022, the growth of the average kola nut yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of kola nuts were harvested worldwide; approximately reflecting 2021. Overall, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the harvested area increased by 6.9% against the previous year. The global harvested area peaked at X ha in 2015; however, from 2016 to 2022, the harvested area stood at a somewhat lower figure.

Kola Nut Exports

Exports

In 2022, shipments abroad of kola nuts decreased by -13.4% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by 75%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the global exports remained at a lower figure.

In value terms, kola nut exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 80% against the previous year. Over the period under review, the global exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Nigeria (X tons) represented the main exporter of kola nuts, making up 52% of total exports. Cote d'Ivoire (X tons) held the second position in the ranking, followed by Jamaica (X tons). All these countries together took near 34% share of total exports. The United States (X tons), Sierra Leone (X tons) and Cameroon (X tons) held a relatively small share of total exports.

Nigeria was also the fastest-growing in terms of the kola nuts exports, with a CAGR of +44.5% from 2012 to 2022. At the same time, Sierra Leone (+17.0%), Cameroon (+14.4%), the United States (+7.5%) and Jamaica (+5.1%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-1.2%) illustrated a downward trend over the same period. While the share of Nigeria (+49 p.p.) and Sierra Leone (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Jamaica (-5.8 p.p.) and Cote d'Ivoire (-28.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest kola nut supplying countries worldwide were Cote d'Ivoire ($X), Nigeria ($X) and Jamaica ($X), together accounting for 86% of global exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +39.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average kola nut export price amounted to $X per ton, declining by -1.6% against the previous year. Over the period under review, the export price saw a noticeable slump. The growth pace was the most rapid in 2019 an increase of 46%. The global export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.7%), while the other global leaders experienced more modest paces of growth.

Kola Nut Imports

Imports

After three years of growth, supplies from abroad of kola nuts decreased by -10.7% to X tons in 2022. Over the period under review, imports, however, showed significant growth. The pace of growth was the most pronounced in 2015 with an increase of 397%. Global imports peaked at X tons in 2021, and then shrank in the following year.

In value terms, kola nut imports surged to $X in 2022. In general, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 78%. Over the period under review, global imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Burkina Faso (X tons) was the main importer of kola nuts, constituting 68% of total imports. Bahrain (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by the United States (7.7%). The following importers - France (X tons) and Kazakhstan (X tons) - together made up 5.9% of total imports.

From 2012 to 2022, average annual rates of growth with regard to kola nut imports into Burkina Faso stood at +1.6%. At the same time, Kazakhstan (+19,140.4%), Bahrain (+125.2%), the United States (+4.5%) and France (+3.2%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the world, with a CAGR of +19,140.4% from 2012-2022. While the share of Burkina Faso (+68 p.p.), Bahrain (+11 p.p.) and Kazakhstan (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of France (-22.9 p.p.) and the United States (-36.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X), Bahrain ($X) and Burkina Faso ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 76% share of global imports.

In terms of the main importing countries, Bahrain, with a CAGR of +124.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average kola nut import price stood at $X per ton in 2022, growing by 77% against the previous year. Over the period under review, the import price, however, recorded a deep setback. Global import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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