Areca Nuts Market in APAC 2019-2023
About this market
Areca nuts have found widescale application as an alternative constituent in various industries. This is one of the major reasons behind the growth in demand and popularity of areca nuts in APAC. Areca nuts are used as a major ingredient in the preparation of products such as tea. Furthermore, the product has become widely popular in India and is even exported to countries like Russia, the UK, and Australia. Furthermore, in November 2017, Arecatea announced to launch a range of organic cosmetic products containing areca nuts as a major ingredient in the Indian market. Technavio’s analysts have predicted that the Areca nuts market in APAC will register a CAGR of over 4% by 2023.
Medicinal values od areca nuts
The inclusion of areca nuts in the preparation of ayurvedic medicines has been the major factor propelling their demand and popularity in APAC, especially in India and Sri Lanka. The chemical constituents in areca nuts are gallic acid, tannin, a fixed oil gum, a little terpineol, lignin, various salir substances, and three main alkaloids, namely, Arecoline. Arecain and Guacine, which have vasoconstriction properties.
Side effects of areca nuts
Areca nuts are widely chewed along with betel quid in most parts of rural India, Bangladesh, Sri Lanka, Myanmar, Vietnam, and Thailand. Areca nuts, however, can cause various side effects when taken in high doses.
For the detailed list of factors that will drive and challenge the growth of the areca nuts market in APAC during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
Technavio Announces the Publication of its Research Report – Areca Nuts Market in APAC 2019-2023
Technavio recognizes the following companies as the key players in the areca nuts market in APAC: GM Group, SHRI GANESH PRASAD TRADERS, SHRI GIRRAJ SUPARI TRADERS, THE CAMPCO, VIET DELTA.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the prevalence of clean labeling and fair- trade practice.”
According to the report, one of the major drivers for this market is the growing production area and volumes of areca nuts in APAC.
Further, the report states that one of the major factors hindering the growth of this market is the heavy consumption of areca nuts increases fluid secretion in the lung.
SHRI GANESH PRASAD TRADERS
SHRI GIRRAJ SUPARI TRADERS
and VIET DELTA