The global turmeric market size is forecast to be valued at USD 4,419.3 million in 2023. Total turmeric sales worldwide are likely to rise at 5.5% CAGR throughout the forecast period, taking the overall market valuation past USD 7,579.2 million by 2033.
Growing usage of turmeric in food & beverage products, pharmaceuticals, cosmetics, personal care products, and textiles is driving the global turmeric industry.
Turmeric is a commonly used spice derived from the root of Curcuma longa. It is rich in curcumin and other curcuminoids and is being increasingly used for flavoring and coloring numerous food products.
Turmeric's phytochemistry plays a significant role in health effects. The ingredients in turmeric are known as curcuminoids, which include curcumin, demethoxycurcumin, and bisdemethoxycurcumin. These bioactive compounds have proven to offer significant health benefits.
Turmeric has become an ideal substitute for saffron due to its less inexpensive nature. It is being increasingly used to add flavor and color to seafood, meat products, rice dishes, pickles, etc.
Growing usage of turmeric as a natural food flavoring ingredient coupled with increasing demand for processed food products and beverages is expected to boost the global market during the forecast period.
One of the first features of a product that consumers seem to notice is its color. As the need for clean-label products grows, colors are becoming more than just what the eye can see. Several people are starting to prioritize natural colors when buying products, and businesses of all sizes are taking note.
Consumers are willing to pay more for organic foods because of their health advantages. They prefer products such as organic turmeric to make use of turmeric's therapeutic properties to the fullest extent.
During the projected period, turmeric demand will be boosted by the recent changes in consumer trends and growing knowledge of the advantages of using organic and natural ingredients in food, cosmetics, and medicinal applications.
The market is also anticipated to increase over the forecast period as a result of the rising demand for herbal cosmetics products and the increased use of turmeric in cosmetics.
Like other vibrant plant-based ingredients, turmeric is full of phytonutrients that defend the body from harm by scavenging free radicals (pollution, sunshine), which are responsible for cell damage. It has been linked to a lower risk of developing diseases including cancer and heart disease.
Increasing adoption of turmeric in the pharmaceutical industry is likely to boost sales during the projection period. Thanks to its antiseptic, antibacterial, antioxidant, and anti-inflammatory properties, turmeric finds application in various pharmaceutical products.
Various studies have revealed that turmeric can aid in the management of inflammatory and oxidative conditions, arthritis, hyperlipidemia, metabolic syndrome, and anxiety. This will create lucrative growth opportunities for turmeric manufacturers and suppliers.
Turmeric is also used in home remedies for curing cold, cough, and stomach issues, and several skin conditions. Hence, growing awareness about numerous health benefits of turmeric will help the market to thrive rapidly during the projection period.
| Attribute | Key Insights |
|---|---|
| Turmeric Market Estimated Value (2023E) | USD 4,419.3 million |
| Projected Market Value (2033F) | USD 7,579.2 million |
| Value-based CAGR (2023 to 2033) | 5.5% |
| Top 3 Countries Marketing Share | 30.1% |
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| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 3.9% |
| Jul to Dec (H2), 2021 (A) | 4.5% |
| Jan to Jun (H1), 2022 Projected (P) | 4.6% |
| Jan to Jun (H1), 2022 Outlook (O) | 4.3% |
| Jul to Dec (H2), 2022 Outlook (O) | 5.6% |
| Jul to Dec (H2), 2022 Projected (P) | 5.3% |
| Jan to Jun (H1), 2023 Projected (P) | 5.1% |
| BPS Change : H1, 2022 (O) to H1, 2022 (P) | 30 |
| BPS Change : H1, 2022 (O) to H1, 2021 (A) | 43 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | (-) 30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | (+) 113 |
Turmeric sales grew at a CAGR of 5.8% during the historical period from 2018 and 2022, as per Future Market Insights’ latest report. For the projection period (2023 to 2033), the global turmeric industry is forecast to expand at 5.5% CAGR, generating lucrative revenues by the end of 2033.
Increasing applications of turmeric across food & beverage industry is driving the global market forward.
Similarly, growing awareness about the potential health benefits of turmeric and the availability of turmeric in a variety of forms are forecast to boost global turmeric sales during the projection period.
Over the past few years, popularity of turmeric has increased significantly due to rising usage of this natural ingredient across thriving food & beverage industry. Turmeric not only helps to provide a distinct flavor to food products but also helps to extend their shelf life.
With growing inclination towards natural food ingredients, demand for turmeric is expected to rise at a significant pace during the projection period. Turmeric manufacturers aim to expand their business by introducing new varieties of turmeric and developing new technologies to achieve stable, improved potency at an economical price.
Principal Consultant
Rise in Aging Population to Boost Demand for Turmeric Industry
According to recent estimates by the United Nations Department of Economic and Social Affairs, currently, there are over 703 million people aged 65 or older. Further, it is estimated that the population aged 65 in several regions will double by 2050.
Manufacturers of turmeric supplements are concentrating on releasing products with turmeric and turmeric extracts that are especially beneficial for the aging population to appeal to the senior market.
Turmeric is recognized for its cleansing properties due to its high antioxidant content, which is crucial in assisting elderly people in getting rid of accumulated waste and toxins from their systems.
As elderly people aim to maintain an active lifestyle and mental acuity, they are utilizing healthy ingredients such as turmeric and turmeric extracts in their diet. This will boost the worldwide turmeric industry during the projection period.
| Region | North America |
|---|---|
| Country | United States |
| CAGR | 4.5% |
| BPS Analysis | -127 |
| Market Value (2033) | USD 857.3 million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 6.1% |
| BPS Analysis | -195 |
| Market Value (2033) | USD 278.4 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 6.1% |
| BPS Analysis | -26 |
| Market Value (2033) | USD 287.3 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 9.2% |
| BPS Analysis | -390 |
| Market Value (2033) | USD 198.9 million |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR | 7.3% |
| BPS Analysis | +119 |
| Market Value (2033) | USD 154.7 million |
Rising Consumption and Export of Turmeric Boosting Sales in India
According to Future Market Insights, India’s turmeric market is anticipated to expand at a substantial growth rate of 9.2% CAGR over the forecast period. Total market size in the country is forecast to reach a valuation of USD 198.9 million by 2033.
Rising usage of turmeric across households and food & beverage sector along with increasing export of spices is a key factor expected to drive demand for turmeric in India market.
The Indian turmeric market is growing swiftly, and the circumstances are favorable for rapid expansion in the coming years. Along with its thriving economy, India has a significant advantage in the turmeric industry as it is the world's leading producer, consumer, and exporter of turmeric.
According to the Trade Promotion Council of India (TPCI), India contributes more than 80% of global turmeric production. Further, the country exported turmeric worth USD 236 million in 2018.
Due to the expanding disposable income of the middle class and the growing consumer knowledge of the health benefits of turmeric, India is set to emerge as one of the most lucrative markets for turmeric. Manufacturers are likely to use innovative marketing and promotional techniques to boost their revenues.
For the past few centuries, turmeric has been considered India's "golden spice." It is one of the selected Indian products with both mythological and commercial value. In almost every Indian home, turmeric is utilized not only in food but also in cosmetics.
Since ancient times, people in Asia have utilized turmeric, as a key component in Ayurveda, Unani, and traditional medicine. Further, it serves as an indicator of acidity and alkalinity in chemical analysis.
Growing Awareness About Health Benefits of Turmeric Fueling Demand in the USA Market
Currently, the USA accounted for a dominant share of 19.4% of the global market and it is anticipated to expand at a steady CAGR of 4.5% during the forecast period. By 2033, the United States turmeric market size is expected to reach USD 857.3 million.
The market is primarily driven by the health benefits of turmeric and a shift in consumer lifestyles. Similarly, growing focus of people to lose weight, the significance of eating healthy foods, and rising applications of turmeric in cosmetics and pharmaceuticals, are expected to elevate turmeric demand in the country during the forecast period.
In an effort to reduce the expense of their healthcare, consumers are increasingly consuming turmeric and other healthy ingredients to preserve their health. This will help the turmeric industry in the USA expand at a rapid pace.
Further, robust expansion of food service industry in the United States will play a key role in fostering turmeric sales over the next ten years.
Rising Demand for Organic and Natural Ingredients Boosting Turmeric Sales in the United Kingdom
According to Future Market Insights’ latest report, the United Kingdom turmeric market is forecast to accelerate a CAGR of 6.1% between 2023 and 2033, reaching a valuation of USD 278.4 million by 2033.
Growing usage of turmeric in pharmaceutical sector, increasing popularity of herbal products, and rising demand for organic and natural food ingredients are key factors driving the United Kingdom market.
Similarly, growing popularity of ethnic food is expected to positively influencing turmeric industry in the country.
The United Kingdom is a hub for herbal products. It is considered a prominent importer of herbal medicines and essential oils, which significantly contributes to the growing demand for turmeric.
Turmeric products are becoming increasingly popular in the United Kingdom as a result of the significance of good health with consumers adopting healthier lifestyles and rising demand for organic and natural food ingredients. Further, rising interest in organic Curcuma longa is positively influencing turmeric sales in the country.
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Processed Turmeric Remains the Most Sought After Product Form Worldwide
Based on product form, the global market for turmeric market is segmented into whole turmeric and processed turmeric. Among these, processed turmeric segment currently holds around 78.4% share of the global market and it is expected to retain its dominance during the forecast period.
Rising usage of processed turmeric across diverse industries including pharmaceutical, food & beverage, food service, and cosmetics is a key factor driving growth of the target segment.
Most of Turmeric Demand to Arise from Food & Beverage Processing Sector
Based on end use, the global turmeric industry is segmented into cosmetics & personal care, food and beverage processing, textiles, pharmaceuticals & dietary supplements, textiles, foodservice/HoReCa, and retail/household.
According to Future Market Insights, food and beverage processing segment dominates the global turmeric industry, accounting for a significant market share of 36.4% in 2023. This is attributed to rapid expansion of food and beverage processing sector and growing usage of turmeric as a spice in processed food products and beverages.
Similarly, rising application of turmeric to flavor or color various foods will aid elevate turmeric demand in the food & beverage processing industry.
The global turmeric industry is extremely fragmented and competitive due to presence numerous companies. Leading manufacturers of turmeric use a variety of marketing techniques, including new product launches, alliances, partnerships, facility expansions, acquisitions, mergers, and collaborations to gain a competitive edge in the market.
Recent Developments
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 4,419.3 million |
| Projected Market Size (2033) | USD 7,579.2 million |
| Anticipated Growth Rate (2023 to 2033) | 5.5% CAGR |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value & MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Europe, Germany, United Kingdom, France, Italy, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Vietnam, Philippines, Singapore, Oceania, Australia, New Zealand, Middle East & Africa, GCC Countries, Türkiye, Egypt, South Africa. |
| Key Segments Covered | Variety, Product Form, Distribution Channel, End User, Nature, and Region |
| Key Companies Profiled | Naturex S.A.; Sabinsa Corporation; Chr. Hansen A/S; Everest Spices; Biomax Life Sciences Ltd.; Sensient Technologies Corporation; ITC Limited; The Archer Daniels Midland Company; Symrise AG; MDH Spices; McCormick & Company; Kancor Ingredients Limited; BOS Natural Flavors (P) Limited; Roha Dyechem Pvt. Ltd.; Frutarom Industries Ltd.; Kalsec, Inc.; DDW The Colour House Corporation; Universal Oleoresins; Ungerer & Company; Vigon International, Inc.; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The market is valued at USD 4,419.3 million in 2023.
Naturex S.A., Sabinsa Corporation, and Chr. Hansen A/S are the top market players.
Food and beverage processing is the key end user.
The market registered a 5.8% CAGR From 2018 to 2022.
The United States market is likely to hold a 19.4% share through 2033.
1. Executive Summary 2. Market Overview 3. Market Dynamics 4. Global Market - Pricing Analysis 5. Value Chain Analysis 6. Global Market Size (in Value (USD Million) and Volume (MT) Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Variety 7.1. Madras Turmeric 7.2. Alleppey Turmeric 7.3. West Indian Turmeric 7.4. Others (Rajapore, BKK, etc.) 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Form 8.1. Whole Turmeric 8.2. Processed Turmeric 8.2.1. Powder 8.2.2. Oleoresin 8.2.3. Curcumin 8.2.4. Oil 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 9.1. Food and Beverage Processing 9.1.1. Processed Food Products 9.1.2. Dairy Products 9.1.3. Meat, Poultry and Seafood 9.1.4. Confectionery 9.1.5. Baked Goods 9.1.6. Sauces, Dressings and Condiments 9.1.7. Spices and Seasoning 9.1.8. Beverages 9.1.9. Others (Infusions, etc.) 9.2. Pharmaceuticals & Dietary Supplements 9.3. Cosmetics & Personal Care 9.4. Textiles 9.5. Foodservice/HoReCa 9.6. RETAIL/Household 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 10.1. Hypermarkets/Supermarkets 10.2. Specialty Stores 10.3. Convenience Stores 10.4. Online Retail 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature 11.1. Organic 11.2. Conventional 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia 12.6. Oceania 12.7. Middle East & Africa 13. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Country-level Market Analysis (2018 to 2022 and Forecast 2023 to 2033) 20. Market Structure Analysis 21. Competition Analysis 21.1. Sales Footprint 21.2. Sabinsa Corporation 21.3. Chr. Hansen A/S 21.4. Everest Spices 21.5. Biomax Life Sciences Ltd. 21.6. Sensient Technologies Corporation 21.7. ITC Limited 21.8. The Archer Daniels Midland Company 21.9. Symrise AG 21.10. MDH Spices 21.11. McCormick & Company 21.12. Kancor Ingredients Limited 21.13. BOS Natural Flavors (P) Limited 21.14. Roha Dyechem Pvt. Ltd. 21.15. Frutarom Industries Ltd. 21.16. Kalsec, Inc. 21.17. DDW The Colour House Corporation 21.18. Universal Oleoresins 21.19. Ungerer & Company 21.20. Vigon International, Inc. 22. Assumptions and Acronyms Used 23. Research Methodology
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