Eastern Asia: Areca Nut Market 2024

Areca Nut Market Size in Eastern Asia

In 2022, the East Asian areca nut market increased by 3.6% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by 8.5% against the previous year. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Areca Nut Production in Eastern Asia

In value terms, areca nut production shrank modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 8.5% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Taiwan (Chinese) (X tons) and China (X tons).

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of -2.4%).

In 2022, the average areca nut yield in Eastern Asia amounted to X tons per ha, approximately reflecting the previous year. Overall, the yield, however, showed a mild reduction. The most prominent rate of growth was recorded in 2017 when the yield increased by 4.1% against the previous year. Over the period under review, the areca nut yield reached the peak level at X tons per ha in 2013; however, from 2014 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of areca nuts were harvested in Eastern Asia; approximately equating the previous year's figure. Over the period under review, the harvested area, however, recorded a slight decline. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Areca Nut Exports

Exports in Eastern Asia

In 2022, exports of areca nuts in Eastern Asia surged to X tons, rising by 49% against 2021 figures. Over the period under review, exports, however, saw a mild shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 103% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, areca nut exports soared to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 565% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, China (X tons) and Taiwan (Chinese) (X tons) represented the main exporters of areca nuts in Eastern Asia, together recording near 71% of total exports. It was distantly followed by Hong Kong SAR (X tons), achieving a 29% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +34.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest areca nut supplier in Eastern Asia, comprising 95% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 3.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +74.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-11.2% per year) and Hong Kong SAR (-1.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, increasing by 48% against the previous year. Overall, the export price continues to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when the export price increased by 641%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+29.2%), while the other leaders experienced a decline in the export price figures.

Areca Nut Imports

Imports in Eastern Asia

In 2022, overseas purchases of areca nuts increased by 126% to X tons, rising for the fifth year in a row after two years of decline. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 411%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, areca nut imports skyrocketed to $X in 2022. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 295% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

China (X tons) represented roughly 99% of total imports in 2022.

China was also the fastest-growing in terms of the areca nuts imports, with a CAGR of +37.5% from 2012 to 2022. From 2012 to 2022, the share of China increased by +8.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported areca nuts in Eastern Asia.

From 2012 to 2022, the average annual growth rate of value in China totaled +35.5%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, approximately mirroring the previous year. In general, the import price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2014 an increase of 40%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -1.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :