Areca Nuts Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Areca Nuts Market: Overview
The global areca nuts market is likely to witness turbulence in its growth trajectory in the coming few years. Unlike, last few years the coming years are not going to be cakewalk for the players operating in the areca nuts market.
Some of the factors which are expected to support growth in the areca nuts market are increasing application scope of areca nut, prevalence of clean labeling, awareness of the medicinal values of areca, and growing prominence of the online platform.
TMR Research has added a new report on areca nuts market in its ever growing repository. The report is expected to offer a thorough analysis of drivers, restraints, challenges and opportunities present in the market. This report is crucial for those associated with the areca nuts market directly or indirectly.
Global Areca Nuts Market: Notable Developments
Some of the notable developments in the global areca nuts market are –
The average height of areca plant is around 80 to 100 feet and often areca plant suffers from fruit disease. Due to this disease, a major portion of areca plants are destroyed, this was restraining growth in the areca nuts market. To over this situation, farmers take spray copper sulphate solution over the crops to prevent them decaying. Due to height of the tree it was getting difficult for farmers to spray solution over the crops. To address these problems, governments have launched two innovative prototypes in March 2018, a tractor with a mounted sprayer and a drone. The increasing support from government and technological innovations is expected to widen the growth prospects in the areca nuts market by improving quality and production level of areca nuts.
Global Areca Nuts Market: Key Trends
Areca nut is a palm tree fruit majorly found in South East Asia. Areca nuts have several medicinal benefits and it is also chewed with betel leaf. Other than this, it is considered as an auspicious fruit by people is several regions.
Areca nuts is also used for manufacturing of tabaco by several industry players. This is expected to increase demand for areca nuts in the coming few years.
However, there are several factors which are expected to hinder growth in the areca nuts market. Some of them are price volatility of areca nuts, stringent government regulations over the consumption of tobacco and rising cases of month cancer due to consumption of areca nuts. addition to this, the farming of areca nuts is majorly depending on rain. Any short of change in amount of rainfall could ruin entire farming of areca nuts. In years 2018, a major cyclone hit South East Asia Pacific region, this had an adverse impact on areca nuts farming.
A huge gap in supply and demand of areca nuts has increased number cases of areca nuts alteration. Several players have started selling artificial and chemical made areca nuts in order to take advantage of commodity shortage. This is a major factor expected to hinder growth in the global areca nuts market.
However, emergence of advance farming techniques and equipment and rise in land field for areca nuts farming are the two factors likely to offer a significant boost to the areca nuts market.
Global Areca Nuts Market: Regional Outlook
The global areca nuts market is divided into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all these region, Asia Pacific is expected to hold maximum share in the coming few years. This is majorly due to significant rise in in production levels of areca nuts in the region and increasing consumption of areca in the counties such as India, Bangladesh, China, and Sri Lanka.
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