The Areca Nuts Market is projected to register a CAGR of 3.2% during the forecast period (2020-2025). The major producers of areca nuts include India, Bangladesh Myanmar Indonesia China, Taiwan, Sri Lanka, Thailand, and Nepal. The major importing countries of areca nuts are Myanmar, India, Singapore, Bangladesh, and others. Thailand, Indonesia, Sri Lanka, Singapore, India, and others are some of the major exporters of areca nuts globally in 2019.
Key Market Trends
Increasing Imports from India
The demand for areca nuts is enhancing in India due to its usage in both traditional customs as well as its consumption in various forms. The usage of these nuts in betel leaves with different flavors is enhancing the market for these areca nuts in the country. These are used in various forms including fresh, dried, baked, boiled, roasted, and cured. Dehusked areca nuts are used in a raw or processed form generally with tobacco. These are also majorly used in different industrially manufactured products such as gutka and pan masala. These factors are further expected to increase the imports of India.
Increasing Consumption in Asia-Pacific Countries
The growth of the areca nuts market is mainly due to the rising consumption of nuts in both developed and developing countries of Asia-pacific. The major consuming countries in Asia-Pacific are India, China, Indonesia, Bangladesh, Myanmar. India is the largest consumer of areca nuts followed by China and Myanmar. However, the per capita consumption of areca nuts is high in Myanmar followed by Bangladesh, India, Indonesia, and China. The consumption is further expected to enhance in the near future as the consumption of these in different processed foods is increasing.
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