Turmeric Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025

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Turmeric Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025

Status : August, 2020 | Food and Beverages | PPT format

Report Digest


Global Turmeric Market: Snapshot

The extensive use of turmeric, mainly in food preparations makes the turmeric market a playing field. Besides its bright yellow color, turmeric features a number of medicinal and antibacterial properties.

Turmeric boasts a number of health benefits. This is mainly because of presence of phytochemicals, namely bisdemethoxycurcumin, demethoxycurcumin, and diferuloylmethane. This composition manifest as antibacterial, antioxidant, antiviral, and anti-fungal properties. Such composition of turmeric helps bring down sugar levels, improve overall well-being, and even fight cancer.

Turmeric finds extensive applications in cosmetic products. In some Eastern cultures, turmeric has traditionally been used as a skin toner. Turmeric mixed with some herbs made into a paste used to be applied directly on the skin. The paste serves as a deep cleanser for antiseptic and anti-acne use. Turmeric also helps control wrinkles and evade their early formation on the skin.

Food and beverages and pharmaceuticals are key end users of the turmeric market. Urbanization and changing lifestyle have in general boosted the growth of food industry. Prepared foods, spices, sauces, and cold cuts are some foods that use spices such as turmeric. Turmeric is an essential spice used in several Eastern foods, predominantly food preparations in India, Malaysia, and Thailand.

Asia Pacific is a key consumer of turmeric. Turmeric has traditionally been used in several food preparations in several countries of the region. Turmeric finds its use for its bright yellow color, and for its medicinal value. Besides this, turmeric is taken orally with water for clearing the throat.

Global Turmeric Market: Overview

Entry-barriers are practically non-existent in the global market for turmeric. As a result the market is choc-o-bloc with regional and global players. This not just makes the landscape fragmented but also highly competitive and diversified. Against such a backdrop companies are seen focusing on enhancing their brand values by churning out quality products and proactive marketing strategies. They are also seen indulging in competitive pricing and bolstering their distribution networks to up sales and surge ahead of their rivals. Overall, such strategies are serving to catalyze growth in the market.

Global Turmeric Market: Drivers and Restraints

Fuelling growth in the global market for turmeric is the growing awareness about its myriad health benefits. This is mainly on account of the presence of phytochemicals, namely demethoxycurcumin, diferuloylmethane, and bisdemethoxycurcumin.  Further, turmeric curcumin has important nutrients needed for the growth and development of the body. It also helps to bring down blood sugar levels, better liver health, boost effects of chemotherapy, battle cancer, and so on. This is because of its antibacterial, antiviral, antioxidant, and anti-fungal properties. Apart from its health benefits, it also adds flavor and color to cooked food.

Yet another important factor majorly boosting the market is the usage of turmeric in cosmetic products because of their ability to heal the skin and condition it too. It also brings about deep cleansing and has antiseptic and anti-acne properties. It can control wrinkles and crease formation on the surface of the skin as well.

However, despite so many unique perceived benefits of the products, players find it difficult to progress in the global market for turmeric owing to cutthroat competition, volatility in prices of raw materials, and difficulties posed by adverse weather conditions. To overcome such hiccups these players are seen banking upon product differentiation through unique value proposition.

Global Turmeric Market: Trends and Opportunities

Some of key end use segments in the market are food and beverages and pharmaceuticals. Among them, the former is responsible for driving most of the demand in the market. Turmeric finds widespread usage as an edible coloring agent in a range of foods, most popular of which are curries. Besides, turmeric roots paste is used to marinate different types of meat and extend shelf life. Furthermore, it is also used in turmeric tea and smoothies, which are prepared with certified organic turmeric and do not contain any artificial additives and sweeteners.

Global Turmeric Market: Regional Analysis

From a geographical standpoint Asia Pacific is a prominent region due to the high usage of turmeric extracts for culinary purposes. India, China, Malaysia, and Thailand are some of the main drivers of the market in the region both in terms of production and consumption. Agriculture still forms the backbone of most economies in the region and India is the main producer of turmeric mainly on account of the suitable weather conditions and right kind of soil in the region.

Global Turmeric Market: Competitive Landscape 

Our market intelligence reports provide actionable insights on some of the leading vendors in the food sector including Kraft Heinz, Unilever, Givaudan, ConAgra, Nestlé, 2 Sisters Food Group, The Hain Celestial Group, General Mills, Dr. Schär, and Epermarket. It finds that they are eyeing new untapped markets and strengthening their distribution channels and packaging to grow their market shares.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.