U.S.: Kola Nut Market Overview 2021

Kola Nut Market Size in the U.S.

After four years of growth, the U.S. kola nut market decreased by -X% to $X in 2020. In general, consumption, however, saw notable growth. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Kola nut consumption peaked at $X in 2019, and then declined significantly in the following year.

Kola Nut Exports

Exports from the U.S.

In 2020, the amount of kola nuts exported from the U.S. skyrocketed to X tonnes, with an increase of X% against 2019 figures. Over the period under review, exports recorded strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, exports attained the peak of X tonnes. from 2016 to 2020, the growth exports remained at a lower figure.

In value terms, kola nut exports soared to $X in 2020. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of X% y-o-y. Over the period under review, exports attained the peak figure in 2020 and are likely to continue growth in years to come.

Exports by Country

Spain (X tonnes), Mexico (X tonnes) and India (X tonnes) were the main destinations of kola nut exports from the U.S., with a combined X% share of total exports. Chile and Nigeria lagged somewhat behind, together comprising a further X 2012 to 2020, the biggest increases were in Nigeria (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Mexico ($X) and Spain ($X) were the largest markets for kola nut exported from the U.S. worldwide, together accounting for X% of total exports. These countries were followed by Nigeria and Chile, which together accounted for a further X the main countries of destination, Nigeria (+X% per year) saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average kola nut export price stood at $X per tonne in 2020, with a decrease of -X% against the previous year. In general, the export price, however, saw a buoyant expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by X% year-to-year. As a result, export price reached the peak level of $X per tonne, and then fell in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was India ($X per tonne), while the average price for exports to Chile ($X per tonne) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria, while the prices for the other major destinations experienced more modest paces of growth.

Kola Nut Imports

Imports into the U.S.

In 2020, after four years of growth, there was significant decline in overseas purchases of kola nuts, when their volume decreased by -X% to X tonnes. In general, total imports indicated a notable expansion from 2012 to 2020: its volume increased at an average annual rate of +X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% year-to-year. Over the period under review, imports attained the peak figure at X tonnes in 2019, and then reduced rapidly in the following year.

In value terms, kola nut imports dropped sharply to $X in 2020. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2020: its value increased at an average annual rate of +X% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2019, and then declined notably in the following year.

Imports by Country

Cote d'Ivoire (X tonnes), Jamaica (X tonnes) and Guinea (X tonnes) were the main suppliers of kola nut imports to the U.S., together comprising X% of total imports. These countries were followed by Nigeria, which accounted for a further X 2012 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Nigeria, while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constituted the largest supplier of kola nut to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Jamaica ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2020, the average annual growth rate of value from Cote d'Ivoire totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Jamaica (+X% per year) and Nigeria (+X% per year).

Import Prices by Country

In 2020, the average kola nut import price amounted to $X per tonne, which is down by -X% against the previous year. Over the last eight-year period, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per tonne in 2018; however, from 2019 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Cote d'Ivoire ($X per tonne), while the price for Guinea ($X per tonne) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Nigeria, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for kola nuts in the world?

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Nigeria (168K tonnes) remains the largest kola nut consuming country worldwide, comprising approx. 51% of total volume. Moreover, kola nut consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Cote d'Ivoire (59K tonnes), threefold. Cameroon (52K tonnes) ranked third in terms of total consumption with a 16% share.

What are the largest producers of kola nuts in the world?

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Nigeria (168K tonnes) constituted the country with the largest volume of kola nut production, comprising approx. 53% of total volume. Moreover, kola nut production in Nigeria exceeded the figures recorded by the second-largest producer, Cote d'Ivoire (60K tonnes), threefold. Cameroon (52K tonnes) ranked third in terms of total production with a 16% share.

What are the leading suppliers of kola nuts to the U.S.?

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In value terms, Cote d'Ivoire ($3.9M) constituted the largest supplier of kola nut to the U.S., comprising 70% of total imports. The second position in the ranking was occupied by Jamaica ($1.5M), with a 27% share of total imports. It was followed by Nigeria, with a 2.4% share.

What are the leading importers of kola nuts from the U.S.?

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In value terms, the largest markets for kola nut exported from the U.S. were India ($210K), Mexico ($115K) and Spain ($103K), together accounting for 92% of total exports. Nigeria and Chile lagged somewhat behind, together comprising a further 5.3%.

What is the average export price for kola nuts in the U.S.?

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In 2020, the average kola nut export price amounted to $6,037 per tonne, falling by -6.8% against the previous year.

What is the average import price for kola nuts in the U.S.?

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The average kola nut import price stood at $7,829 per tonne in 2020, which is down by -3% against the previous year.