Strategic Launches & Acquisitions to Drive Production Sales of Turmeric

Rapidly increasing multinationals and retailers have been contributing significantly towards the growing revenues of turmeric market across the globe. Rising number of spices industry has been witnessing considerable increase in customer-base demanding for ethnic taste. Apart from this, rapidly increasing multicultural population along with rising trend of travelling in stimulating the demand and supply of turmeric across the globe on a larger basis. Most of all, herbal products are gaining significant traction since the recent past in the turmeric market.

A research company recently carried out an all-inclusive study on the report, turmeric market. The analysts of the research company revealed some facts and figures relating the market across the globe on turmeric. Turmeric market is likely to grow at a CAGR of 5.5% during the assessment period, 2017-2027, in order to touch an estimate of approximately US$ 5,650Mn by 2027-end.

Leading players effective in the turmeric market are inclusive of Sensient Technologies Corporation, Frutarom Industries Ltd., Universal Oleoresins, Everest Spices, Roha Dyechem Pvt. Ltd, Kancor Ingredients Limited and Ungerer & Company. Leading players and manufacturers are increasing their concentration on developing and initiating new products, which would help in meeting their emerging and existing business plans and expansion of customer-base across the globe as well.

Sensient Technologies Corporation Acquires GlobeNatural

Leading players and manufacturers can note that Sensient Technologies Corporation recently acquired natural color business of GlobeNatural, which is a natural ingredient and food maker in Peru. This company manufactures and sources raw materials that is inclusive of chlorophyll, anthocyanins, turmeric derivatives, annatto derivatives and cochineal derivatives for natural coloring.

The acquired business is likely to operate as the Sensient Natural Colors Peru S.A.C. Sensient, which has been indicated as the new business firm, contributing towards the expansion of increasing natural foods segment.

Insight on the Acquisition

The notable idea here is that this strategic acquisition has turned out to be a lucrative component for the company’s ‘seed to shelf’ plan, with regards to food colors. Sensient Technologies Corporation has been taking immense efforts in expanding as well as innovating its supply chain portfolio of natural colors.

Shift from the synthetic colors towards natural sources is considered to be a long-term trend across the food industry. Vertical integration strategy of Sensient Technologies Corporation will lead towards long-term cost-in-the-usage improvement together with the supply chain transparency and security improvement. All of these have been significantly important for the customers as well as food manufacturers.

Groovy Food Company Introduces Turmeric-Fortified Virgin Coconut Oil

Leading players and manufacturers can note that Groovy Food Company recently introduced a brand new turmeric-fortified virgin coconut oil for the benefit of UK market. Customers can note that this new turmeric-fortified virgin coconut oil can be utilized as healthy alternative to the cooking oils. This oil is mainly beneficial for the usage in curries, roast potatoes, stir fries, marinades and many more. Most importantly, Groovy Food Company has been the first to take a unique initiative for integrating turmeric and coconut oil in a single product.

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About the Author

Shambhu Nath Jha

Shambhu Nath Jha with an experience nearing a decade, has helped over 50 large and medium to small business enterprise to foray into new markets, increase footprint in the existing bucket and understand the nature of the beast. These beasts are the companies that have been primarily engaged in chemicals, material or packaging activities, and encountering challenge either in maintain P&L or staying ahead of their competitors. He has authored over 300 industry research papers consisting critical information such as market growth, total addressable market, serviceable addressable market, market size, forecast, player strategies, market share estimates and winning imperatives along with recommendations. He is also the pioneer of “three slope distributor/off-taker evaluation model” used by several multinational companies to track the performance of channel partners. A consultant by profession, writer by mood and explorer by desire, Shambhu Nath is currently employed with a London based market research and consulting firm as a full time consultant. A few of the industry verticals where he demonstrated his skill includes water and wastewater treatment chemicals, high purity alumina, water purifiers, activated carbon, chloramine filters, bio-based bioplastics, water purifiers, textile chemicals etc.

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