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North America Areca Nuts Market By Volume (Imports, Exports), By Distribution Channel (hypermarkets And Supermarkets, Food And Drink Specialists, Convenience Stores, Others) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2022 to 2027

Published: March, 2023
ID: 4698
Pages: 145
Formats: report pdf report excel report power bi report ppt

North America Areca Nuts Market Size, Share, Growth (2022-2027)

North America Areca Nuts Market is expected to grow a CAGR of 4.5 % throughout the forecast period 2022 - 2027.

Overview:

The areca nut is the seed of the areca palm (Areca catechu), which grows throughout much of the tropical Pacific (Melanesia and Micronesia), Southeast Asia and southern Asia, and parts of East Africa. It is commonly known as betel nut, not to be confused with the betel leaves that are often used for wrapping. Several compounds found in walnut, including arecoline (the main psychoactive ingredient similar to nicotine), contribute to histological changes in the oral mucosa. It is known to be a major risk factor for cancer of the mouth and esophagus. 

Recent Developments in North America Areca Nuts Market

  • The Central Cooperative for Processing and Marketing of Arecanut and Cacao (Campco) will coordinate with other areca nut cooperatives to source canut from producers and stabilize the market affected by foreclosures in the country.

  • The Multi Commodity Exchange (MCX) has received approval from the Securities and Exchange Board of India to initiate future operations in Arecanut, which is one of India's major cash crops. The exchange plans to launch futures contracts in August, mid-season. The exchange manager said MCX will opt for a Red Rashi variety for the future Arecanut.

  • To provide further relief to farmers in the midst of foreclosure, Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd. (CAMPCO), Mangaluru, will increase the purchase price of arecanut from April 29. In addition, the cooperative will buy more arecanut from producers starting Wednesday, increasing its supply limit. This is because the circulation of the "chali" (or white sugar cane) variety has resumed in Uttar Pradesh, one of the main consumer markets for the variety in North India.

  • Nivedan Nempe, a young researcher and entrepreneur known for his invention of areca tea, is set to launch a range of organic cosmetics made from local areca nuts. The product is exported to the West Indies, Russia and the Gulf countries, parts of the UK and also Australia. Areca tea currently comes in different flavors such as mint, ginger, lemon and tulsi.

Drivers and Restraints:

The North American areca nuts market is mainly influenced by weather conditions in the production area, government policies, growth of consumer industries, government policies for consumer industries, and some other aspects. Regular consumption of areca nut causes serious diseases such as throat cancer and oral cancer. Due to the large number of people affected by the consumption of areca nuts, various governments have imposed regulations on the production and consumption industries of areca nuts. This fact has restricted the local market for areca nuts. In addition, the growing awareness of people regarding a healthy lifestyle and the serious effects of areca nut has resulted in an obstacle for the areca nuts market. Since the pre-production age of palms is between 5 and 8 years, and only 5% of them give rise to seeds, the cultivation of the areca nuts takes a long time. The time required for the cultivation of the areca nut and the required environmental conditions, such as a minimum humidity of 70%, restrict the North American market on the supplier side.

North America Areca Nuts Market Segmentation

  • type

  • product

  • volume

  • distribution channel

By type

  • red areca nut

  • white areca nut

As a product

  • scented supari

  • tannin

  • pan masala

By volume

  • imports

  • exports

Based on the distribution channel

  • supermarkets

  • hypermarkets

  • convenience stores

  • drink specialists 

Impact of COVID-19 on North America Areca Nuts Market:

There is no evidence that coronavirus can be transferred from food or food packaging. The 2008 financial crisis showed us what can happen when falling incomes and uncertainty cause people to spend less and demand falls. Sales have decreased. Production too. At the beginning of the COVID-19 pandemic, there was a significant increase in demand. However, the unprecedented outbreak of this pandemic has altogether changed the consumer perception towards foods, pushing them towards the healthier side. This acted as an inhibitor to the areca nuts market in North America and the whole world. The lockdown conditions and temporary shutdown of production units have further declined the sales in the industry amid the coronavirus period. The United States is among the most deeply affected areas of COVID-19, which led to declined revenue in the areca nuts business in North America.

North American Areca Nuts Market Regional Insights:

  • United States

  • Canada

  • Mexico

  • rest of North America

North American region has the largest share of the global market revenue due to remarkable growth in consumption driven by established distribution channels. In the United States, areca nut is not a controlled or specially taxed substance and can be found in some Asian grocery stores. However, the importation of areca nuts in any form other than whole or carved nut seeds may be stopped at the discretion of US customs officials for reasons of food, agricultural or medicinal violation, which is very rare.

North American Areca Nuts Market Key Players

  1. Kuber Grains & Spices

  2. Amafu Stock Trading Pty

  3. Plamai Gabor Gyorgy

  4. Aluvium Permata

  5. Portpro Duct Co.

  6. Indo Agro Komoditindo

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