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Turmeric Market By Size, Supplier, Demand Analysis, Type, Statistics, Regions and Forecast – 2030

09-15-2021 11:45 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: PROPHECY MARKET INSIGHTS

Prophecy Market Insights

Prophecy Market Insights

The report "Global Turmeric Market, by Type (raw and Processed), by Application (Industrial, Health and Personal Care Products, Commercial, and Household), by Distribution Channel (Direct Sales and Indirect Sales), and Region - Global Forecast to 2030" Global Turmeric Market accounted for US$ 64.53 million in 2020 and is estimated to be US$ 191.94 million by 2030 and is anticipated to register a CAGR of 11.5%. . The global turmeric market is expected to register moderate growth over the forecast period. This is attributed to increasing adoption of turmeric in food industry, coupled with rising utilization of turmeric in medicine as well as in cosmetics.

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Driver: The growing demand for turmeric as a result of its increased use in the food industry is one of the primary factors driving the global turmeric market's rise. Furthermore, rising consumer interest in organic turmeric and increased research & development in turmeric's medical applications are expected to propel market expansion. Other factors projected to drive market expansion in the forecast period include rising demand for herbal cosmetics and an increase in the use of turmeric in cosmetic products.
Restrain: The availability of different turmeric substitutes in the food and beverage industry, such as food colors, as well as government-imposed import and export restrictions, may limit market growth to some extent. Curcumin, the yellow pigment in turmeric, is unstable and degrades when exposed to light. Thus, synthetic dyes such as mentail yellow, sunset yellow, and Sudan dye are used to maintain the color of turmeric. The European Food Standards Agency, on the other hand, considers these synthetic colors to be dangerous food additives, and consequently prohibits their usage, which is expected to limit the market for turmeric in the near future.
Key Highlights:
• On November 2018, Gaia, Inc launched organic turmeric granules. These granules are natural, containing no pesticides and additives, and has a high Curcumin content.
• In September 2017, Arya announced that ARYA Turmeric Sparkling Water, the world’s first curcumin-infused Sparkling Water is now available at over 2,400 select Drug Channel stores nationwide.
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Key Market Insights from the report:
The Global Turmeric Market accounted for US$ 64.53 million in 2020 and is estimated to be US$ 191.94 million by 2030 and is anticipated to register a CAGR of 11.5%.The market report has been segmented on the basis of type, application, distribution channel, and region.
• By type, the processed turmeric type is segment accounted for major revenue share in 2018, owing to increasing adoption of turmeric in food sector, cosmetics, and medicine.
• By application, the global turmeric market is categorized into industrial, health and personal care products, commercial, and household.
• By distribution channel, the global turmeric market is bifurcated into direct sales and indirect sales.
• By region, The Europe turmeric market is expected to account for major share in terms of revenue in the global turmeric market and is further anticipated to maintain its dominance over the forecast period, owing to increasing demand for personal care, beauty products, and health supplements in the countries of the region. The Asia Pacific turmeric market is expected to dominate the global turmeric market during the forecast period in 2018.

Competitive Landscape & their strategies:
The prominent player operating in the global turmeric market includes Mountain Rose, Inc., Naturex S.A., Feel Good Foods Inc., Organic Farm Share Ltd., Gaia, Inc., Windcrest Farm, Organic Spices Inc., Arya, Wild Harvest Ltd .Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market.

Related Reports:

Global Spice Market:

https://www.prophecymarketinsights.com/market_insight/Global-Spice-Market-4342

Global Plant Extract Market:

https://www.prophecymarketinsights.com/market_insight/Global-Plant-Extract-Market-By-1104

About Report:
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Explore Extensive Coverage of Prophecy Market Insights Healthcare Industry:

Key questions answered in the report:

• What will the market growth rate of Turmeric Market in 2026?
• What are the key factors driving the global Turmeric Market?
• Who are the key manufacturers in Turmeric Market space?
• What are the market opportunities, market risk and market overview of the Global Turmeric market?
• What are sales, revenue, and price analysis of top manufacturers of Turmeric Global market?
• What are sales, revenue, and price analysis by types and applications of Turmeric Market?
• What are sales, revenue, and price analysis by regions of Turmeric market?

To know more
Contact Us:
Sales
Prophecy Market Insights
+1 860 531 2701
Email- sales@prophecymarketinsights.com

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

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