The Areca nut is a southeast Asian fruit produced by palm palms. The production of areca nut is, however, dependent on the region’s geographic and climatic conditions. As a result, price changes are mostly determined by areca nut production. In southeast Asia and the Pacific, areca nuts are used not just for chewing with betel leaves, but also for a variety of rituals. India is the world’s largest user and producer of areca nuts. Because excessive consumption of areca nut produces serious health concerns, the global market for areca nut has reached maturity.
Areca Nut Market Dynamics:
The areca nut is affected by weather conditions in the producing area, government laws, the growth of consumer industries, government policies for consumer industries, and a few other things. If ingested consistently, areca nuts cause significant illnesses such as throat cancer and mouth cancer. Because of the enormous number of people who have been damaged by areca nut consumption, the Indian and other governments have enacted several rules governing the production and consumption of areca nuts. As a result of this reality, the market for areca nuts has been strangled.
Areca Nut Market Regional Outlook:
With more than 90% of the global market share, Asia Pacific is the world’s largest market for areca nuts. India is the world’s greatest producer and consumer of areca nuts. India produces more than half of the world’s areca nut, yet it still imports huge quantities from other countries. Several Asia Pacific countries, as well as a tiny share of the United Arab Emirates, the United States, and the United Kingdom, are among India’s key export destinations. The import of areca nuts from Bangladesh has increased by roughly thrice as a result of the Indian government’s import tariff easing. India, Bangladesh, Indonesia, Thailand, Sri Lanka, and Myanmar are collectively responsible for about all of the areca nut demand.
Areca Nut Market Key Players:
- Viet D.E.L.T.An Industrial Co., Ltd. • GM group • Surya Exim • K. TRADING • Biotan Pharma • Shri Ganesh Prasad Traders • Marlene Traders Co., Ltd.
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