In 2023, the global kola nut market was led by Nigeria, contributing significantly more to the production value than other countries. Nigeria's contribution rose slightly by 0.96% year-on-year. Ivory Coast, the second-largest producer, experienced a slight decline of -0.47%. Cameroon and Ghana saw growth rates of 0.52% and 0.62%, respectively, while Sierra Leone had a marginal increase of 0.066%. Benin registered a modest increase of 0.4%.
Over the past five years, the Compound Annual Growth Rate (CAGR) indicates stable investments in kola nut production across these nations, with Nigeria proving to be an influential leader in the market. The data highlights an ongoing demand for kola nuts, but with varying growth rates across producing countries reflecting different levels of market maturity.
Future trends to watch include:
- Potential shifts in global demand that could alter production priorities.
- Technological advancements in agricultural practices potentially influencing yield and quality.
- Market diversification strategies among producers to enhance competitive positioning.
- Impact of climate change on agricultural productivity in West African kola-producing regions.
Top countries in Kola Nuts Gross Production by Country
# | 6 Countries | Thousand US Dollars PPP = 2004–2006 | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 Nigeria | 126,120 | 2023 | +0.39% | +0.96% | View data |
2 | 2 Ivory Coast | 43,120 | 2023 | +0.79% | -0.47% | View data |
3 | 3 Cameroon | 36,470 | 2023 | +1.19% | +0.52% | View data |
4 | 4 Ghana | 18,270 | 2023 | +0.95% | +0.62% | View data |
5 | 5 Sierra Leone | 6,040 | 2023 | -0.17% | +0.066% | View data |
6 | 6 Benin | 455 | 2023 | +0.22% | +0.4% | View data |