Areca Nut Market to Witness high growth by 2027|UnivDatos Market Insights

The Areca Nut Market is expected to grow at a CAGR of ~3.2% between 2021-2027. A comprehensive overview of the Areca Nut Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Automated Parking System Market. The report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Areca Nut Market at the regional levels.

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Market Overview

Areca nut contains protein, fiber, polyphenols, and fat polysaccharides. It is one of the most crucial ingredients used in making pan masala. In addition to this, tannins are used in dyeing as a food color, clothes, and leather which is attained from the processing of unripe areca nuts. India is the largest producer and consumer of areca nuts. Other countries like Indonesia, Bangladesh, China, Thailand, Malaysia, and part of Africa also produce a significant amount of areca nuts.

Areca nut exhibits properties like strengthening the muscle which plays a vital role in stroke recovery. It is also beneficial for protecting teeth from the cavity and preventing dental plaque. Hence, these medical aspects of areca nuts are likely to augment the Global Areca Nut market during the forecast period.

However, the rising prevalence of mouth and throat cancer due to the regular consumption of areca nuts coupled with increasing awareness regarding the harmful impact on the health of consuming areca nut products are the major challenges restraining the market growth.

COVID-19 Impact

The ongoing COVID-19 pandemic across the world has had a tremendous impact on different spectra of society, the market for Areca Nut no less. Returning to some likeness of normalcy depends on continued safety measures, effective diagnostic testing, and widespread vaccination. COVID-19 has caused widely documented supply chain and logistics disruptions across industries, including those in the Areca Nut industry, which have been exacerbated during the latter portion of fiscal 2021. However, as stay-at-home restrictions were lifted in many parts of the world by the 2nd-3rd quarter of 2020, the major industry players across North America and the Asia Pacific saw an increase in demand for many of its areca nut products later during fiscal 2020 owing to the resumption in production capacity. As a result, the areca nut industry experienced strong demand in the latter half of fiscal 2020.

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Areca Nut Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Color, the market is primarily bifurcated into:

·        Red

·        White

Based on color, the market is categorized into red and white areca nuts. The white category is projected to attain a considerable share of the Global Areca Nut Market. White Supari is made by harvesting completely ripped areca nuts and sun drying them for 40 to 50 days. The nut's shell is then removed by hand or machine when it has dried. Areca nut is the nut obtained from this dried fruit. On other hand, red areca nut is obtained from harvesting the tender (green) Areca nut and peeling the husk. The nut is extracted by peeling the delicate nut, then processed as needed (whole nut or split nut), boiled in water, and sun-dried. The white form of Areca, known as the Chali variety, is primarily grown in Karnataka's South Kanara and North Kanara, as well as the northern sections of Kerala. Red areca nuts are primarily grown in Shimoga, Chikmagalur, and North Kanara.

By Type, the market is primarily studied into:

·        Split

·        Whole

Based on type, the market is bifurcated into split and whole. The split segment is likely to acquire a substantial share of the Global Areca Nut Market during the forecast period. 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.

Areca Nut Market Region Segmentation Includes:

·        North America

·        Europe

·        Asia-Pacific

·        Rest of World

Based on the estimation, Geographically, Asia Pacific leads the market in 2021. This is mainly due to the rising population growth and increasing preference for areca nut products. Furthermore, Asia Pacific countries like India, China, Indonesia, and Bangladesh are among the largest producer and consumers of areca nut products, thereby contributing to the market growth.

The major players targeting the market include:

·        Swastika International

·        GM Group

·        Rubyndo

·        Sri Vinayaka Betelnut Traders

·        Shri Ganesh Prasad Traders

·        Vietdelta Industrial Co., Ltd

·        Biotan Pharma

·        Surya Exim

Competitive Landscape

The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating in the global context. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Areca Nut Market. The major players have been analyzed using different research methodologies for getting insight views on market competition.

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Key questions resolved through this analytical market research report include:

·        What are the latest trends, new patterns, and advancements in the Areca Nut Market?

·        Which factors are influencing the Areca Nut Market over the forecast period?

·        What are the challenges, threats, and risks in the Areca Nut Market?

·        Which factors are propelling and restraining the Areca Nut Market?

·        What are the demanding regions of the Areca Nut globally?

·        What will be the market size in the upcoming years?

·        What are the crucial market acquisition strategies and policies applied by the companies?

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