Report Update Nov 1, 2024

Republic of Korea - Areca Nuts - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Areca Nut Market 2024

Areca Nut Market Size in Republic of Korea

In 2022, the South Korean areca nut market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption enjoyed a significant increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Areca Nut Production in Republic of Korea

In value terms, areca nut production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a precipitous descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 2,399,100% against the previous year. Areca nut production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

In 2022, the average yield of areca nuts in South Korea stood at less than X kg per ha, remaining relatively unchanged against 2021 figures. Over the period under review, the yield recorded a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of areca nuts were harvested in South Korea; leveling off at the previous year. Overall, the harvested area saw a relatively flat trend pattern.

Areca Nut Exports

Exports from Republic of Korea

In 2020, the amount of areca nuts exported from South Korea stood at X kg, therefore, remained relatively stable against the previous year. In general, exports continue to indicate a sharp decline. The smallest decline of -0.1% was in 2015. The exports peaked at X tons in 2014; however, from 2015 to 2020, the exports stood at a somewhat lower figure.

In value terms, areca nut exports totaled $X in 2020. Over the period under review, exports continue to indicate a abrupt contraction. The smallest decline of -7.1% was in 2015. The exports peaked at $X in 2014; however, from 2015 to 2020, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X kg) was the main destination for areca nut exports from South Korea, with a approx. 100% share of total exports.

From 2014 to 2020, the average annual rate of growth in terms of volume to Myanmar was relatively modest.

From 2014 to 2020, the average annual growth rate of value to Myanmar was relatively modest.

Export Prices by Country

In 2020, the average areca nut export price amounted to $X per ton, approximately mirroring the previous year. In general, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2015 a decrease of -6.9% against the previous year. The export price peaked in 2020 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2014 to 2020, the rate of growth in terms of prices for Myanmar amounted to 0.0% per year.

Areca Nut Imports

Imports into Republic of Korea

In 2022, overseas purchases of areca nuts were finally on the rise to reach X tons after two years of decline. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 51,600%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, areca nut imports surged to $X in 2022. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 34,030% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) was the main supplier of areca nut to South Korea, accounting for a 99.9% share of total imports. It was followed by Myanmar (X kg), with less than 0.1% share of total imports.

From 2014 to 2022, the average annual growth rate of volume from Indonesia totaled +220.6%.

In value terms, Indonesia ($X) constituted the largest supplier of areca nuts to South Korea, comprising 99% of total imports. The second position in the ranking was held by Myanmar ($X), with less than 0.1% share of total imports.

From 2014 to 2022, the average annual growth rate of value from Indonesia stood at +187.1%.

Import Prices by Country

The average areca nut import price stood at $X per ton in 2022, with a decrease of -26.9% against the previous year. In general, the import price recorded a pronounced slump. The pace of growth appeared the most rapid in 2021 when the average import price increased by 24% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined sharply in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Myanmar totaled $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-10.4%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for areca nuts in the world?

India constituted the country with the largest volume of areca nut consumption, accounting for 54% of total volume. Moreover, areca nut consumption in India exceeded the figures recorded by the second-largest consumer, Bangladesh, threefold. Myanmar ranked third in terms of total consumption with a 7.8% share.

What are the largest producers of areca nuts in the world?

The country with the largest volume of areca nut production was India, accounting for 45% of total volume. Moreover, areca nut production in India exceeded the figures recorded by the second-largest producer, Bangladesh, threefold. The third position in this ranking was occupied by Indonesia, with a 10% share.

What are the leading suppliers of areca nuts to Republic of Korea?

In value terms, Indonesia constituted the largest supplier of areca nut to South Korea, comprising 98% of total imports. The second position in the ranking was occupied by Vietnam, with a 2.4% share of total imports.

What is the average export price for areca nuts in Republic of Korea?

The average areca nut export price stood at $6,819 per ton in 2020, which is down by -11.1% against the previous year.

What is the average import price for areca nuts in Republic of Korea?

The average areca nut import price stood at $3,046 per ton in 2020, waning by -2.2% against the previous year.

This report provides an in-depth analysis of the areca nut market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 226 - Areca nuts

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023