Turmeric Market Size, Share, Price 2032

Turmeric Market Insights

Zion Market Research has published a report on the global Turmeric Market, estimating its value at USD 4.77 Billion in 2023, with projections indicating that it will reach USD 7.65 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.4% over the forecast period 2024-2032.

The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Turmeric industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Introduction

Turmeric belongs to rhizomatous herbaceous perennial plant family of ginger referred as Zingiberaceae and is the key source of curcumin. It possesses many beneficial medicinal features as well as anti-inflammatory, anti-oxidant, and anti-tumor characteristics. Apparently, the spice helps in effectively managing metabolic syndrome, hyperlipidemia, cerebral ischemia disorder or ischemic injury, respiratory tract disorders, anxiety, arthritis, oxidative stress ailments, cerebral stroke, neuronal disorder, and degenerative eye conditions. In addition to this, the product offers numerous health benefits including benefits for kidneys. Moreover, Curcuma longa or rhizomatous herbaceous perennial has been used in Asia as a medicinal plant owing to its anti-mutagenic, anti-cancer, anti-microbial, anti-oxidant, and anti-inflammatory properties.

In addition to this, it is extensively used as spice in cooking across Middle East regions as well as South Asian countries. It is intensely utilized in sweet & savory dishes as well as in turmeric pickle in East Asian countries. Photochemical analysis of turmeric has unleashed its contents like volatile oils, curcumin, and curcuminoids having inherent & beneficial pharmacological features.  

Market Growth Dynamics

Turmeric comprises of curcumin as its key components which has assisted in prevention of chronic ailments including Alzheimer and cancer as well proves to be helpful in providing relieve to the patients suffering from depression. This will prop up the growth of the market in the years ahead. Furthermore, clinical trials conducted by NIH researchers have demonstrated that curcumin – a key component of curcuma longa- has proved to be effective against various human ailments including heart disorders, tropical pancreatitis, uveitis, Crohn’s disease, irritable bowel syndrome, gastric inflammation, psoriasis, atherosclerosis, and renal conditions. In addition to this, turmeric consumption can also help in increasing the immune system and is used as herbal therapeutic agent in chronic uveitis, skin cancer, wound healing, liver ailment, small pox, conjunctivitis, gall bladder problems, urinary tract infections, and chicken pox, thereby driving the expansion of turmeric market over forecast timespan. Moreover, NIH researchers have exhibited the proficiency, pharmacokinetics, and safety of turmeric against many disorders occurring in the humans. All these aforementioned will drive the market trends.

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Furthermore, turmeric is also used in canned beverages, baked items, yellow cakes, sauces, dairy items, popcorn, sweets, cereals, cake icings, ice creams, orange juices, and biscuits. It also finds a spectrum of applications in cosmetics and medicines apart from food items. Apparently, turmeric is also used in botanical    supplements as well as alternative treatments for chronic inflammatory ailments like asthma and rheumatoid arthritis. It has found massive usage in Ayurveda, Chinese medicine, Egyptian medicine, and Kampo, a Japanese medicine since many centuries. With its massive use in digestive orders for reducing flatus, colic, and menstrual problems in women as well as abdominal pain & appetite loss, the market is likely to gain traction over the forthcoming years. The antiseptic, nephronprotective, cardio-protective, radioprotective, local anesthetic, choleretic, carminative, and hepatoprotective actions of turmeric has made it more popular across the globe.

Turmeric Market: Report Scope

Asia Pacific Market To Attain Numero Uno Position During Forecast Timespan

The growth of the market in Asia Pacific over the forecast timespans is due to highest production of turmeric in the region with Indian turmeric considered to be best in the world as per NCBI reports. Moreover, India consumes nearly eighty percent of the product and uses it in its routine cooking activities. It is also massively consumed in countries like China, Tibet, Mongolia, and Japan. Furthermore, India being the largest producer of turmeric, the market in the region is likely to attain scalable heights in the near future.  

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Key players profiled in the report are -

• Windcrest Farm
• Oregon's Wild Harvest
• Organic Wise
• Naturex S.A.
• Jacarandas International
• Mountain Rose Herbs
• NHR Organic Oils
• Kauai Organic Farms
• Feel Good Organics
• Spicely Organics
• Aryan International
• Turmeric Australia.

The global turmeric market is segmented as follows:

By Type:

• Raw
• Processed

By Application:

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

By Distribution Channel:

• Direct Sales
• Indirect Sales

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa