About Areca Nut
Areca nut is also known as Betelnut, basically, it is the seed of an areca palm which grows in tropical parts of the Asia Pacific and Eastern Africa regions. It is highly used in paan with the combination of other substances including tobacco, and others. It has both stimulant and relaxation effects. In-country like India, the betel nut chewing practice is often passed down in families and it becomes one of the important social cultures in India.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global Areca Nut market is strongly competitive and having a huge number of market-leading players. In terms of market share, some of the key players highly dominate this market majorly in India. These market players are highly focusing on strategic initiatives to enhance their market share and improve their profitability. Analyst at AMA Research estimates that India Vendors will contribute the maximum growth to Global Areca Nut market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Swastika International (Indonesia), R. K. TRADING (India), GM Mallikarjunappa & Son's (India), Maganlal Shivram & Company (India), S. K. Associates (India), GM group (India), Surya Exim (India), Shri Ganesh Prasad Traders (India) and Marlene Traders Co., Ltd. (Thailand) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Viet D.E.L.T.A Industrial Co., Ltd. (Vietnam) and Taj Agro International (India).
Segmentation Overview
AMA Research has segmented the market of Global Areca Nut market by Type (Split Betel Nut and Whole Betel Nut) and Region.
On the basis of geography, the market of Areca Nut has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Foods will boost the Areca Nut market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Online Stores will boost the Areca Nut market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Scented Supari will boost the Areca Nut market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Consumption of Areca Nuts on Daily Basis in India
Market Growth Drivers:
Growing Demand for Areca Products Such as Pan, Scented Supari, and Pan Masala
Challenges:
Ingesting of Areca Nut on a Daily Basis Causes Dangerous Diseases Including Mouth Cancer and Throat Cancer
Restraints:
Growing Health Concerns
Opportunities:
Increase in Availability of Online Sales Channels, Along with that Increasing Penetration of Internet
Market Leaders and their expansionary development strategies
May 2022, The Central Arecanut and Cocoa Marketing and Processing Cooperative (Campco) Ltd urged the External Affairs Ministry to restrict the movement of areca nuts at Integrated Check Post (ICP) at Moreh in Manipur along the India-Myanmar border which has affected the domestic market resulting in great distress to farmers.
September 2022, The government allowed the import of 17,000 metric ton of green areca nut without minimum import price (MIP) condition from Bhutan every year through LCS Jaigaon (INJIGB), subject to a valid registration certificate issued by the Directorate General of Foreign Trade (DGFT).
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Areca Nut Product Manufacturer, Distributors, and Suppliers, Raw Material Providers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.