Report Nigeria - Areca Nuts - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Mar 9, 2022

Nigeria - Areca Nuts - Market Analysis, Forecast, Size, Trends and Insights
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Nigeria: Areca Nut Market 2022

Areca Nut Market Size in Nigeria

For the third year in a row, the Nigerien areca nut market recorded decline in sales value, which decreased by -X% to $X in 2020. Over the period under review, consumption continues to indicate a significant decrease. The most prominent rate of growth was recorded in 2017 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. from 2018 to 2020, the growth of the market remained at a lower figure.

Areca Nut Production in Nigeria

In value terms, areca nut production fell to $X in 2020 estimated in export prices. In general, production showed a slight downturn. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. As a result, production attained the peak level of $X. from 2018 to 2020, production growth remained at a somewhat lower figure.

In 2020, the average yield of areca nuts in Nigeria stood at X kg per ha, stabilizing at the year before. Overall, the yield continues to indicate a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, the harvested area of areca nuts in Nigeria stood at X ha, leveling off at 2019. Over the period under review, the harvested area continues to indicate a relatively flat trend pattern.

Areca Nut Exports

Exports from Nigeria

For the third year in a row, Nigeria recorded growth in overseas shipments of areca nuts, which increased by X% to X tonnes in 2020. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% year-to-year. Over the period under review, exports attained the peak figure in 2020 and are likely to see steady growth in the near future.

In value terms, areca nut exports skyrocketed to $X in 2020. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2016 with an increase of X% year-to-year. Exports peaked in 2020 and are likely to continue growth in years to come.

Exports by Country

The UK (X tonnes) was the main destination for areca nut exports from Nigeria, with a approx. X% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to the UK amounted to +X%.

In value terms, the UK ($X) also remains the key foreign market for areca nut exports from Nigeria.

From 2012 to 2020, the average annual growth rate of value to the UK totaled +X%.

Export Prices by Country

In 2020, the average areca nut export price amounted to $X per tonne, dropping by -X% against the previous year. Overall, the export price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. Over the period under review, average export prices reached the peak figure at $X per tonne in 2012; however, from 2013 to 2020, export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the UK.

From 2012 to 2020, the rate of growth in terms of prices for the UK amounted to -X% per year.

Areca Nut Imports

Imports into Nigeria

In 2020, the amount of areca nuts imported into Nigeria surged to X kg, picking up by X% against 2019 figures. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. Imports peaked in 2020 and are expected to retain growth in the immediate term.

In value terms, areca nut imports skyrocketed to $X in 2020. Overall, imports recorded a significant increase. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2020 and are likely to continue growth in years to come.

Imports by Country

In 2020, India (X kg) was the main supplier of areca nut to Nigeria, accounting for a approx. X% share of total imports.

From 2012 to 2020, the average annual rate of growth in terms of volume from India totaled +X%.

In value terms, India ($X) constituted the largest supplier of areca nut to Nigeria.

From 2012 to 2020, the average annual growth rate of value from India stood at +X%.

Import Prices by Country

In 2020, the average areca nut import price amounted to $X per tonne, stabilizing at the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2020 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for India.

From 2012 to 2020, the rate of growth in terms of prices for India amounted to +X% per year.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tonnes

Frequently Asked Questions (FAQ) :

What are the largest markets for areca nuts in the world?
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India constituted the country with the largest volume of areca nut consumption, comprising approx. 54% of total volume. Moreover, areca nut consumption in India exceeded the figures recorded by the second-largest consumer, Bangladesh, threefold. Myanmar ranked third in terms of total consumption with a 7.8% share.
What are the largest producers of areca nuts in the world?
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The country with the largest volume of areca nut production was India, accounting for 45% of total volume. Moreover, areca nut production in India exceeded the figures recorded by the second-largest producer, Bangladesh, threefold. The third position in this ranking was occupied by Indonesia, with a 10% share.
What are the leading suppliers of areca nuts to Nigeria?
+
In value terms, India constituted the largest supplier of areca nut to Nigeria.
What are the leading importers of areca nuts from Nigeria?
+
In value terms, the UK remains the key foreign market for areca nut exports from Nigeria.
What is the average export price for areca nuts in Nigeria?
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In 2020, the average areca nut export price amounted to $728 per tonne, with a decrease of -13.1% against the previous year.
What is the average import price for areca nuts in Nigeria?
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In 2020, the average areca nut import price amounted to $9,180 per tonne, flattening at the previous year.

This report provides an in-depth analysis of the areca 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 2025.


Product coverage:
• FCL 226 - Areca nuts
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2007–2021
Table 3:
Market Value, 2007–2021
Table 4:
Per Capita Consumption In 2007–2021
Table 5:
Imports, In Physical Terms, By Country, 2007–2021
Table 6:
Imports, In Value Terms, By Country, 2007–2021
Table 7:
Import Prices, By Country Of Origin, 2007–2021
Table 8:
Exports, In Physical Terms, By Country, 2007–2021
Table 9:
Exports, In Value Terms, By Country, 2007–2021
Table 10:
Export Prices, By Country Of Destination, 2007–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2021
Figure 2:
Market Value, 2007–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2021
Figure 5:
Trade Balance, In Physical Terms, 2007–2021
Figure 6:
Trade Balance, In Value Terms, 2007–2021
Figure 7:
Per Capita Consumption, 2007–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2021
Figure 22:
Production, In Value Terms, 2007–2021
Figure 23:
Area Harvested, 2007–2021
Figure 24:
Yield, 2007–2021
Figure 25:
Imports, In Physical Terms, 2007–2021
Figure 26:
Imports, In Value Terms, 2007–2021
Figure 27:
Imports, In Physical Terms, By Country, 2021
Figure 28:
Imports, In Physical Terms, By Country, 2007–2021
Figure 29:
Imports, In Value Terms, By Country, 2007–2021
Figure 30:
Import Prices, By Country Of Origin, 2007–2021
Figure 31:
Exports, In Physical Terms, 2007–2021
Figure 32:
Exports, In Value Terms, 2007–2021
Figure 33:
Exports, In Physical Terms, By Country, 2021
Figure 34:
Exports, In Physical Terms, By Country, 2007–2021
Figure 35:
Exports, In Value Terms, By Country, 2007–2021
Figure 36:
Export Prices, By Country Of Destination, 2007–2021
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