Kola Nut Market

The article discusses the forecasted market trends for kola nuts, predicting an increase in consumption, production, import, and export volumes over the next eight years. Nigeria emerges as the largest consumer and producer of kola nuts, while the United States and Cote d'Ivoire are significant importers and exporters. The data highlights the growth rates, market sizes, market values, and consumption patterns of kola nuts in various countries, providing a comprehensive overview of the global kola nut market.

Market Forecast

Driven by increasing demand for kola nuts worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 352K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $1.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Kola Nuts

In 2022, global kola nut consumption was estimated at 320K tons, standing approx. at the previous year. The total consumption volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Global consumption peaked at 327K tons in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

The global kola nut market size fell to $1.1B in 2022, shrinking by -5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $1.4B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

Nigeria (169K tons) remains the largest kola nut consuming country worldwide, comprising approx. 53% of total volume. Moreover, kola nut consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Cote d'Ivoire (58K tons), threefold. Cameroon (49K tons) ranked third in terms of total consumption with a 15% share.

From 2012 to 2022, the average annual growth rate of volume in Nigeria stood at +2.3%. The remaining consuming countries recorded the following average annual rates of consumption growth: Cote d'Ivoire (-0.6% per year) and Cameroon (+0.4% per year).

In value terms, the largest kola nut markets worldwide were Nigeria ($369M), Cote d'Ivoire ($363M) and Cameroon ($200M), with a combined 82% share of the global market.

Nigeria, with a CAGR of +4.5%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of kola nut per capita consumption in 2022 were Cote d'Ivoire (2.1 kg per person), Cameroon (1.7 kg per person) and Sierra Leone (1 kg per person).

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +1.1%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Kola Nuts

In 2022, the amount of kola nuts produced worldwide amounted to 310K tons, therefore, remained relatively stable against the previous year's figure. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 13%. Global production peaked at 321K tons in 2015; however, from 2016 to 2022, production remained at a lower figure. The general positive trend in terms output was largely conditioned by a relatively flat trend pattern of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, kola nut production contracted to $1.1B in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the production volume increased by 33%. Over the period under review, global production reached the peak level at $1.5B in 2019; however, from 2020 to 2022, production remained at a lower figure.

Production By Country

Nigeria (169K tons) remains the largest kola nut producing country worldwide, accounting for 54% of total volume. Moreover, kola nut production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (59K tons), threefold. The third position in this ranking was taken by Cameroon (49K tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Nigeria amounted to +2.3%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-0.6% per year) and Cameroon (+0.4% per year).

Yield

The global average kola nut yield dropped slightly to 548 kg per ha in 2022, flattening at 2021 figures. Overall, the yield, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 5.7% against the previous year. As a result, the yield reached the peak level of 561 kg per ha. From 2015 to 2022, the growth of the average kola nut yield remained at a somewhat lower figure.

Harvested Area

In 2022, the global harvested area of kola nuts reached 566K ha, remaining relatively unchanged against the year before. Over the period under review, the harvested area showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 6.9%. The global harvested area peaked at 579K ha in 2015; however, from 2016 to 2022, the harvested area stood at a somewhat lower figure.

Imports

World Imports of Kola Nuts

In 2022, after three years of growth, there was decline in overseas purchases of kola nuts, when their volume decreased by -3.8% to 11K tons. Overall, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 378% against the previous year. Global imports peaked at 12K tons in 2021, and then fell modestly in the following year.

In value terms, kola nut imports soared to $23M in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 79% against the previous year. Over the period under review, global imports reached the peak figure at $24M in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports By Country

Burkina Faso represented the major importing country with an import of around 8.2K tons, which accounted for 71% of total imports. Bahrain (1,155 tons) ranks second in terms of the total imports with a 10% share, followed by the United States (7.3%). France (454 tons) and Kazakhstan (180 tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to kola nut imports into Burkina Faso stood at +4.0%. At the same time, Kazakhstan (+99,950.0%), Bahrain (+98.4%), 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 +99,950.0% from 2012-2022. From 2012 to 2022, the share of Burkina Faso, Bahrain and Kazakhstan increased by +71, +10 and +1.6 percentage points, respectively.

In value terms, the largest kola nut importing markets worldwide were the United States ($7.7M), Bahrain ($7.7M) and Burkina Faso ($2.6M), together comprising 78% of global imports.

Among 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 $2,016 per ton in 2022, jumping by 63% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt shrinkage. Global import price peaked at $6,830 per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($9,227 per ton), while Kazakhstan ($46 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+13.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Kola Nuts

Global kola nut exports reduced rapidly to 1.6K tons in 2022, waning by -60.7% against 2021. Overall, exports, however, continue to indicate a mild increase. The pace of growth appeared the most rapid in 2016 when exports increased by 98% against the previous year. The global exports peaked at 3.9K tons in 2021, and then declined rapidly in the following year.

In value terms, kola nut exports shrank significantly to $6.6M in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 62% against the previous year. The global exports peaked at $16M in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

Cote d'Ivoire (497 tons) and Jamaica (435 tons) represented the main exporters of kola nuts in 2022, accounting for approx. 32% and 28% of total exports, respectively. Russia (180 tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by the United States (5.8%) and Sierra Leone (5.6%). The following exporters - Italy (40 tons) and Cameroon (39 tons) - each recorded a 5.1% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Russia (with a CAGR of +52,557.9%), while the other global leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($2.9M), Jamaica ($2M) and Sierra Leone ($297K) constituted the countries with the highest levels of exports in 2022, with a combined 80% share of global exports. Italy, the United States, Cameroon and Russia lagged somewhat behind, together accounting for a further 9.1%.

Among the main exporting countries, Italy, with a CAGR of +40.2%, saw 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

The average kola nut export price stood at $4,260 per ton in 2022, increasing by 67% against the previous year. Over the period under review, the export price, however, showed a slight shrinkage. The global export price peaked at $5,040 per ton in 2012; however, from 2013 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 Italy ($6,943 per ton), while Russia ($46 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 (+3.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform