Market Overview:
The global turmeric market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to factors such as rising demand for curcumin, increasing awareness about the health benefits of turmeric, and growing popularity of ayurveda. In terms of type, the unpolished finger segment is expected to dominate the market during the forecast period owing to its low cost and high availability. However, with increasing awareness about the health benefits of consuming polished finger turmeric, this segment is projected to witness a higher growth rate than other segments during the forecast period. In terms of application, food and beverages segment is expected to account for majority share in global turmeric market due by its widespread use in various cuisines across different regions.
Product Definition:
A spice that comes from the root of a plant in the ginger family. It is orange and has a slightly bitter taste. It is often used to add flavor to food or as a dye.
Unpolished Finger:
Unpolished finger is also known as virgin copper. It is a pure form of copper without any other metal attached to it. The price of the product largely depends on its availability and demand from various end-use industries such as construction, electrical & electronics, and medical among others. As compared to polished products, the market for Unpolished Finger is less developed due to low commercialization rates coupled with limited production volumes in comparison with its counterpart i.
Polished Finger:
Polished finger is also known as finger crystal or moissanite. It is a type of mineral, which is made up of silicon dioxide and aluminum. Polished fingers are used in the manufacturing process of turmeric due to its special properties such as high thermal conductivity and heat capacity.
Turmeric (a spice) has been traditionally used in India for its yellow color; however, modern science has discovered many uses for this versatile natural pigment.
Application Insights:
Food and beverages was the largest application segment in 2017. The product is widely used as a spice, coloring agent, and preservative in food manufacturing industry. Turmeric is commonly added to chicken soup, curries, yogurt smoothies (as it provides health benefits on a nutritional level), energy drinks (to improve taste), cheese products (to increase shelf life stability) and bakery products.
The pharmaceutical segment is expected to witness substantial growth over the forecast period owing to its medicinal properties including anti-inflammatory & antioxidant activities that are beneficial for human health. It has been traditionally used as an antiseptic by practitioners of traditional medicine for centuries due to its high essential oil content which helps prevent infections caused by bacteria, fungi or viruses at different stages of development in the body such as during pre-cognition or early infection stage when no visible symptoms have appeared yet.
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing product demand from various end-use industries, such as food and beverage, pharmaceuticals, cosmetics and others. This can be attributed to growing population coupled with rising living standards that have led consumers to adopt turmeric based products for their nutritional benefits.
The presence of a large number of manufacturers in India has resulted in high product availability across various application segments at relatively lower prices compared to other countries. In addition, easy access of raw materials due to large scale production by farmers' themselves is anticipated to propel industry growth over the coming years.
Europe accounted for a major share owing its extensive usage in beauty products applications resulting into higher consumption rates especially among women age group 25-35 years old which are considered as trend setters for new innovative trends regarding skincare products across different countries worldwide including India China Japan Australia and U S A .
Growth Factors:
- Increasing demand for natural and organic products: The global market for organic foods and beverages was valued at .7 billion in 2016, and is projected to reach 6.3 billion by 2025, according to a study by MarketsandMarkets. This growth is being driven by the increasing awareness of the health benefits of organic foods, as well as the rising demand from millennials for healthier options. Turmeric is a naturally occurring spice that has numerous health benefits, making it an attractive option for consumers looking for healthy alternatives to conventional foods.
- Rising prevalence of chronic diseases: According to the World Health Organization (WHO), chronic diseases such as heart disease, stroke, cancer, diabetes mellitus and respiratory diseases are responsible for 63% of all deaths worldwide each year. These conditions are often associated with inflammation, which turmeric has been shown to help reduce . As more people become aware of the potential benefits of turmeric in preventing or managing chronic diseases , its popularity will continue to grow .
Scope Of The Report
Report Attributes
Report Details
Report Title
Turmeric Market Research Report
By Type
Unpolished Finger, Polished Finger, Double Polished Finger, Slice Turmeric, Powder, Others
By Application
Food and Beverages, Pharmaceuticals, Others
By Companies
Earth Expo Company, ITC Spices, Nani Agro Foods, Shah Ratanshi Khimji, Earth Expo Company
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
177
Number of Tables & Figures
124
Customization Available
Yes, the report can be customized as per your need.
Global Turmeric Market Report Segments:
The global Turmeric market is segmented on the basis of:
Types
Unpolished Finger, Polished Finger, Double Polished Finger, Slice Turmeric, Powder, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food and Beverages, Pharmaceuticals, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Earth Expo Company
- ITC Spices
- Nani Agro Foods
- Shah Ratanshi Khimji
- Earth Expo Company
Highlights of The Turmeric Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Unpolished Finger
- Polished Finger
- Double Polished Finger
- Slice Turmeric
- Powder
- Others
- By Application:
- Food and Beverages
- Pharmaceuticals
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Turmeric Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Turmeric is a spice derived from the root of the Curcuma longa plant. It is used as a colorant and flavoring agent in food.
Some of the major players in the turmeric market are Earth Expo Company, ITC Spices, Nani Agro Foods, Shah Ratanshi Khimji, Earth Expo Company.
The turmeric market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Turmeric Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Turmeric Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Turmeric Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Turmeric Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Turmeric Market Size & Forecast, 2018-2028
4.5.1 Turmeric Market Size and Y-o-Y Growth
4.5.2 Turmeric Market Absolute $ Opportunity
Chapter 5 Global Turmeric Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Turmeric Market Size Forecast by Type
5.2.1 Unpolished Finger
5.2.2 Polished Finger
5.2.3 Double Polished Finger
5.2.4 Slice Turmeric
5.2.5 Powder
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Turmeric Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Turmeric Market Size Forecast by Applications
6.2.1 Food and Beverages
6.2.2 Pharmaceuticals
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Turmeric Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Turmeric Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Turmeric Analysis and Forecast
9.1 Introduction
9.2 North America Turmeric Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Turmeric Market Size Forecast by Type
9.6.1 Unpolished Finger
9.6.2 Polished Finger
9.6.3 Double Polished Finger
9.6.4 Slice Turmeric
9.6.5 Powder
9.6.6 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Turmeric Market Size Forecast by Applications
9.10.1 Food and Beverages
9.10.2 Pharmaceuticals
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Turmeric Analysis and Forecast
10.1 Introduction
10.2 Europe Turmeric Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Turmeric Market Size Forecast by Type
10.6.1 Unpolished Finger
10.6.2 Polished Finger
10.6.3 Double Polished Finger
10.6.4 Slice Turmeric
10.6.5 Powder
10.6.6 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Turmeric Market Size Forecast by Applications
10.10.1 Food and Beverages
10.10.2 Pharmaceuticals
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Turmeric Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Turmeric Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Turmeric Market Size Forecast by Type
11.6.1 Unpolished Finger
11.6.2 Polished Finger
11.6.3 Double Polished Finger
11.6.4 Slice Turmeric
11.6.5 Powder
11.6.6 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Turmeric Market Size Forecast by Applications
11.10.1 Food and Beverages
11.10.2 Pharmaceuticals
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Turmeric Analysis and Forecast
12.1 Introduction
12.2 Latin America Turmeric Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Turmeric Market Size Forecast by Type
12.6.1 Unpolished Finger
12.6.2 Polished Finger
12.6.3 Double Polished Finger
12.6.4 Slice Turmeric
12.6.5 Powder
12.6.6 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Turmeric Market Size Forecast by Applications
12.10.1 Food and Beverages
12.10.2 Pharmaceuticals
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Turmeric Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Turmeric Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Turmeric Market Size Forecast by Type
13.6.1 Unpolished Finger
13.6.2 Polished Finger
13.6.3 Double Polished Finger
13.6.4 Slice Turmeric
13.6.5 Powder
13.6.6 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Turmeric Market Size Forecast by Applications
13.10.1 Food and Beverages
13.10.2 Pharmaceuticals
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Turmeric Market: Competitive Dashboard
14.2 Global Turmeric Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Earth Expo Company
14.3.2 ITC Spices
14.3.3 Nani Agro Foods
14.3.4 Shah Ratanshi Khimji
14.3.5 Earth Expo Company
