The Global Turmeric Market Report provides an in-depth analysis of the market by assessing the growth trends, products, applications, end-user segment, historical data, and information obtained through interviews of industry experts. This market intelligence report includes a comprehensive evaluation of the market, discussing the value, volume, size, share, growth rate, key trends, demand supply ratio, gross revenue, competitive landscape, regional analysis, manufacturers, product types, and end-user applications to give a 360° overview of the global 777 industry. The study provides key information pertaining to the different elements that are propelling or restraining the growth of the sector. It draws accurate forecasts to estimate the prospective growth of the overall business.
The global Turmeric Market is forecasted to reach USD 135.4 Million by 2027, according to a new report by Reports and Data. The market is witnessing a surge in demand owing to the rising customer consciousness about the health benefits and therapeutic properties of curcumin. Moreover, the rising trend of using natural ingredients in cosmetic products is fostering the market demand. However, the availability of cheaper synthetic products is hampering the growth of the market.
The report has been formulated through extensive research and provides insights into the paradigm shifts observed in the market to assist readers maximize on their investments and capitalize on the recent development and competitive landscape of the global market. The report is an exhaustive assessment of the crucial aspects of the market including key geographical regions, technology, product types, application spectrum, key companies operating in the market, and overall industry overview.
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The report offers a thorough analysis of the regions with regards to production and consumption patterns, supply and demand dynamics, import/export, technological and product advancements, current and emerging trends, consumer demands, consumer behavior shifts, and presence of key market players in each region. The report also covers a comprehensive country-wise analysis to impart better understanding of the scope and growth of the market.
Key Companies In The Industry:
Key participants include SV Agrofood, Biomax Life Sciences Ltd., Konark Herbals and Health Care, Star High Herbs Pvt. Ltd., Hebei Food Additive Co. Ltd., Arjuna Natural Extracts Ltd., BioThrive Sciences, Synthite Industries Ltd., Herboveda India Pvt. Ltd., and Hindustan Mint Agro Products Pvt. Ltd., among others.
Further key findings from the report suggest:
- The largest application of Turmeric is in the pharmaceutical sector, and it occupied 55.7% of the market in 2019. This is primarily because of the increasing awareness regarding the health benefits of curcumin.
- The food-grade sub-segment occupied 36.2% of the market in 2019, mainly due to the increasing use of Turmeric in food in the developed countries and developing countries like China and India. Food-grade is forecasted to grow at a CAGR of 11.7% in the forecast period.
- Offline stores dominated the distribution channel and occupied 77.18% of the market share in 2019. The major reason behind this is that internet penetration is low in many areas, and the majority of the population still prefers to buy groceries offline in developing countries.
- North America dominated the market for Turmeric in 2019. The reason behind this is that the population in this region is highly educated, and hence consumer awareness regarding the health benefits and cosmetic applications is high.
- India is the largest producer of curcumin, majorly because of the large applications of Turmeric in the food segment, apart from the pharmaceutical and cosmetic segment, which is also prevalent in the rest of the world. India is responsible for about 80% of the production of Turmeric in the world and is accountable for 60% of the exports.
- In March 2017, Arjuna Natural Extracts Ltd. invested USD 1.5 Million in the research and development of proactive curcumin. This is expected to drive the demand for the market.
Market Segmentation:
Application Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Food
- Cosmetics
- Pharmaceuticals
- Other Uses
Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Food Grade
- Cosmetics Grade
- Pharmaceutical Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Offline Stores
- Online Stores (E commerce)
Regional Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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Key Questions Answered:
- Which of these regions – North America, Europe, Asia Pacific, Latin America, and Middle East Africa, dominates market share?
- What is the outcome of the COVID-19 Impact Analysis performed in the report?
- What are the revenue estimations for every region in the Turmeric market?
- What is the current market valuation of each region and the estimated market size by the end of the forecast period?
- What is the projected growth rate of the global Turmeric market?
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
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