Areca Nut Market - Industry Size, Share, Growth & Forecast 2027...

Areca Nut Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

Posted 2022-10-12 14:19:27

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Areca nut, which is also known as betel nut, is the seed obtained from areca palm. It is an essential commercial fruit in Southeast Asia. The escalating demand for areca products, including pan, scented supari, and pan masala across countries like India, the U.S., Sri Lanka, Nepal, Thailand, Singapore, and others proliferates the areca nut market growth. Moreover, areca nuts comprise approximately 15% of fat that can be extracted and used in confectionery products. Also, the refined fat of the areca nut is hard in comparison to that of cocoa butter. Therefore, it can be extensively used for blending. This factor offers a lucrative opportunity to the manufacturers and is expected to propel market growth in the forthcoming years. The extract of areca nut exhibits properties of strengthening the muscle. Hence, it plays a vital role in stroke recovery. The water extract of the areca nuts holds anti-microbial activity and works towards some strains of oral bacteria. Therefore, chewing an areca nut can protect teeth from the cavity and avert dental plaque. However, the regular consumption of areca nut can lead to severe diseases like throat & mouse cancer, which might hamper the market growth in the future.

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According to UnivDatos Market Insights (UMI)’ research report “Areca Nut Market”, the market is expected to witness a CAGR growth of around 3.2% during the forecast period 2021-2027F. the increasing demand for areca products such as fragrant supari and others. Areca nut is widely used in a variety of applications. For instance: It is used to treat a variety of digestive issues. Intestinal parasites can be eliminated by consuming powdered areca nuts.

Based on Color, the Areca Nut market is categorized into Red and White. The White category is projected to acquire a considerable share of the Global Areca Nut Market. The white areca nut is produced by harvesting the fully ripe nuts and then exposing them to the sun for about 2 months for drying purposes. After this, the shells on the areca nuts are removed and are referred to as supari. On the other hand, red areca nut is produced by harvesting the green areca nut, boiled, and then its external husk is removed. The final product is called chikni supari.

Based on Product, the market is bifurcated into scented supari, tannins, and pan masala. During the forecast period, the scented supari is anticipated to grow at the fastest CAGR during the forecast period. The demand for scented supari is likely to increase significantly during the forecast period as it is being widely consumed in countries like India. The major producers of scented supari are China, India, Brazil, the US, Turkey, and Zimbabwe. Consumption of scented supari, especially in developing countries, is projected to increase due to the rapidly surging global population and trade liberalization.

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Asia-Pacific is expected to witness the highest growth

Based on regions, the report provides detailed analysis for overall demand of Areca Nut for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Indonesia, Bangladesh Rest of Asia-Pacific); and Rest of World.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Areca Nut Market are Swastika International, GM Group, Rubyndo, Sri Vinayaka Betelnut Traders, Shri Ganesh Prasad Traders, Vietdelta Industrial Co., Ltd, Biotan Pharma, and Surya Exim.

“Areca Nut Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Color (Red and White)

2. By Product (Scented Supari, Tannins, Pan Masala)

3. By Type (Split and Whole)

4. By Region (North America, Europe, Asia-Pacific, Rest of World)

5. By Company (Swastika International, GM Group, Rubyndo, Sri Vinayaka Betelnut Traders, Shri Ganesh Prasad Traders, Vietdelta Industrial Co., Ltd, Biotan Pharma, and Surya Exim.)

Key questions answered in the study:

1. What are the current and future trends of the Areca Nut industry?

2. How the industry has been evolving in terms of distribution channel and product category?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the Areca Nut industry?

5. What is the customer orientation, purchase behavior, and expectations from the Areca Nut product suppliers across various countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 ARECA NUT MARKET COVID-19 IMPACT