Areca Nut Market: Current Analysis and Forecast (2021-2027)

Areca Nut Market: Current Analysis and Forecast (2021-2027)

Areca Nut Market is anticipated to display a CAGR of around 3.2% over the forecast period (2021-2027). 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.

Insights Presented in the Report

“Amongst Product, Scented Supari segment held significant market share in 2020”

Based on the product, the market is categorized into scented supari, tannins, and pan masala. 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.

“Amongst Type, Split Areca Nut to witness fastest growth rate”

Based on type, the market is bifurcated into split and whole areca nuts. Among these, split supari is expected to witness robust growth 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.

“Asia Pacific To Dominate the Market During the Forecast Period”

For a better understanding of the market adoption of Areca Nut, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and 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. Some of the major players operating in the market are Swastika International, GM Group, Rubyndo, Sri Vinayaka Betelnut Traders, Shri Ganesh Prasad Traders.

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