Global Turmeric Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026

Turmeric Market Introduction

"The Turmeric Market Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Turmeric powder is a bright yellow powder prepared by dry grinding of mature turmeric rhizomes which is an underground stem.  It is a form of spice that contains almost no calories and zero cholesterol. It is rich in dietary fiber, iron, potassium, magnesium, and vitamin B6. The powder is also used as a coloring agent in South Asian cuisines. The leaves of the turmeric plant also impart a distinct flavor.

These leaves are used to wrap and cook food. The benefits of turmeric are largely due to its phytochemistry. The compounds in turmeric, are called curcuminoids such as curcumin, demethoxycurcumin, and bisdemethoxycurcumin.

It offers several advantages to human health and beauty. Turmeric also contains volatile oils namely turmerone, Atlante, and zingiberene. Other constituents of turmeric are proteins, resins, and sugars.

Increasing demand for turmeric owing to the increasing use of turmeric in the food industry is a key factor driving the growth of the global turmeric market. In addition, the growing demand for herbal cosmetics products coupled with the increasing use of turmeric in cosmetic products is the other factor expected to fuel the market growth in the forecast period. Moreover, increasing consumer interest in organic turmeric and increasing research and development in medical applications of turmeric are likely to drive market growth.

However, the availability of various alternatives to turmeric in the food and beverage industry such as food colors and, stringent import and export regulations imposed by the government may restrain the market growth to a certain extent.

The increasing popularity of ethnic food is a new trend observed in European countries. The spice market is expected to register significant growth in the European countries owing to shifting consumer interest toward ethnic taste. Another observed trend is the rising demand for herbal products in European countries.

The market in the Asia Pacific is expected to dominate the global turmeric market during the forecast period to the wide application of turmeric extract in the region. Moreover, the market is expected to   witness continuous high demand for turmeric in developing economies, such as India and China owing to the growing awareness of turmeric health benefits

Global Turmeric Market Segmentation:

Segmentation on the basis of type:

• Raw
• Processed

Segmentation on the basis of application:

• Industrial
• Health and Personal Care Products
• Commercial
• Household

Segmentation on the basis of distribution channel:

• Direct Sales
• Indirect Sales

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa