Turmeric Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024

Report Code: ZMR-3165 | Report Format : | Status : Upcoming |

Abstract

Global Turmeric Market: Overview

Turmeric has been India’s golden spice for the past five centuries. It is one of those few Indian products having both commercials as well as mythological significance. Turmeric is used not only in the culinary item but also as cosmetics in almost every Indian household. Turmeric has been used in Asia for thousands of years and is a major part of Ayurveda, unman, and traditional Chinese medicine. It was first used as a dye, and then later for its supposed properties in folk medicine.

Turmeric is one of the key ingredients in many Asian dishes, imparting mustard like earthy aroma and pungent, slightly bitter flavor to foods. Turmeric is used mostly in savory dishes but also is used in some sweet dishes, such as the cake stuffing. Turmeric paper also called Curcuma paper; this paper is steeped in a tincture of turmeric and allowed to dry. It is used in chemical analysis as an indicator of acidity and alkalinity.

Global Turmeric Market: Growth Factors

Small-scale food processors, retailers, and ethnic food have a high presence in developing ethnic food taste in Western Europe. However, large retailers and multinationals are also increasingly active in this market thereby increasing revenue of global turmeric market. Growth in spice industry in European Union will continue witnessing growth at a significant pace. The reason for such escalating growth is increasing the popularity of ethnic taste in the European region.

France, UK, and Germany are considered one of the largest importers of herbal medicines and essentials oils. Another trend observed in Western Europe is that it is a hub for herbal products. Western Europe is considered as a second largest hub for herbal products as it represents a significant share in European pharmaceutical market.

European consumers are adopting a healthier lifestyle. Strong demand for turmeric in European market due to changing health perception is the fueling factor for the turmeric market.

Global Turmeric Market: Segmentation

Turmeric market is segmented on the basis of its application and form. In the context of healthcare segment, turmeric has application to combat health issues related to digestion, liver, cancer, cholesterol, osteoarthritis and many other health disorders. Another application of turmeric is in cosmetic industry where it is used as an herbal product in skin and body care products. Further, the market of food type can be segmented in terms of using the turmeric for different purposes such as taste enhancer, ingredients, and coloring purpose and in terms of beverage; it is used in tea, juices, and canned beverages.

In terms of form it can be segmented into three different forms which are powder, dried and liquid form, as per applications, it is segmented as food & beverages, cosmetics and medicinal.

Global Turmeric Market: Regional Analysis

As per the regional segment, turmeric market is categorized into seven different regions includes Latin America, North America, Western Europe, Eastern Europe and Asia Pacific region further segmented to Japan, middle east, and Africa. America and European region are the two major importers of turmeric. Asia Pacific region is one of the largest turmeric producers in world and majority of production is attained from China and India.

Global Turmeric Market: Competitive Players

Key market players in turmeric market mainly belong to Asia Pacific region, some of the major players of this industry are Nain agro foods, earth expo company, curcuminea, Sino-nature, MDH Spices, ITC Spices, Tag Agro Products and Shah Ratanshi Himeji and co. among others.

Global Turmeric Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • The UK
    • France
    • Germany
  • The Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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