Areca Nut Market is expected to foresee significant growth. Asia-Pacific to lead the growth!
- Himanshu Patni
- April 1, 2022
- CONSUMER GOODS, NEWS
- Areca Nut Market, Areca Nut Market growth, Areca Nut Market share, Areca Nut Market size, Areca Nut Market trends
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Areca Nut Market is expected to grow at a CAGR of around 3.2% during the forecast period 2021-2027. The market stood at around US$ XX billion in 2020. The market growth is primarily attributed to 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.
The use of areca nuts as an ingredient to betel leaf for the preparation of ‘paan’ contributes significantly to the growth of the areca nuts market. Paan is a popular snack in parts of Asia, particularly India. The increasing usage of areca nuts in paan could turn the market for areca nuts around
Overall areca nut industry is expected to witness strong and long-term demand, primarily due to the increase in consumption of areca nut products coupled with rapid population growth, especially in developing countries like India, China, Bangladesh, among others. In addition, due to lockdown imposed in the wake of the COVID-19 pandemic, many manufacturing units were shut down the number of workforces declined. This further negatively impacted the growth of the Global Areca Nut Market.
For a detailed analysis of the Covid-19 Impact on the market browse through – https://univdatos.com/report/areca-nut-market/
Based on the product, the market is bifurcated into scented supari, tannin, and pan masala. Among these segments, scented supari is projected to acquire a significant share of the Global Areca Nut market during the forecast period. Scented Supari poses a refreshing and cool taste and aroma. The demand for mouth freshener is significantly high in restaurants as it is widely consumed as a mouth freshener. Raw supari, on the other hand, is inedible. It requires adequate processing and packing before it can be consumed by humans. It is extremely profitable to start a small-scale scented supari business owing to the easy availability of raw material. Aside from that, there isn’t much of an investment requirement.
Based on the type, the market is bifurcated into split and whole areca nuts. In 2020, the split areca nuts category held a substantial share in the market. The growth owes to the increasing demand for split areca nuts in pan masala and scented supari. Most leading market players are launching new product variants, like sugar-coated fennel seeds, chocolate, sweet-preserved rose petals, saffron, and silver-coated areca nuts to enhance their overall sales and expand their existing consumer base. These strategies are likely to boost the demand for split areca nuts, thereby contributing to market growth.
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For a better understanding of the market, the report is analyzed based on different 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. In 2020, the Asia Pacific region held the highest market share in the global Areca Nut market. It is primarily due to the rapidly growing population and high consumer base consuming areca nut products like pan masala and scented supari in the region. The major consuming countries in the Asia-Pacific region are India, China, Bangladesh, Indonesia, and Myanmar. India is the world’s largest producer as well as the world’s largest consumer of areca nuts. India is responsible for more than half of the world’s areca nut output, importing various types from other countries in large quantities.
Areca Nut Market Segmentation
Market Insight, by Colour
Market Insight, by Type
Market Insight, by Product
- Scented Supari
- Pan Masala
Market Insight, by Region
- North America
- United States
- Rest of North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Swastika International
- GM Group
- Sri Vinayaka Betelnut Traders
- Shri Ganesh Prasad Traders
- Vietdelta Industrial Co., Ltd
- Biotan Pharma
- Surya Exim