According to Future Market Insights’ latest report, the global turmeric market is forecast to expand from US$ 4,419.3 million in 2023 to US$ 7,579.2 million by 2033. Overall turmeric sales are poised to rise at 5.5% CAGR from 2023 to 2033.
Market Dynamics
Turmeric’s rich phytochemistry, characterized by curcuminoids like curcumin, demethoxycurcumin, and bisdemethoxycurcumin, contributes to its significant health benefits. A cost-effective substitute for saffron, turmeric is gaining prominence in various culinary applications, from seafood and meat products to rice dishes and pickles.
Rising Demand in Diverse Industries
The demand for turmeric is propelled by its role as a natural food flavoring agent, aligning with the increasing preference for clean-label products. Consumers are willing to pay more for organic turmeric, recognizing its therapeutic properties. Additionally, the market is witnessing a surge due to the growing popularity of herbal cosmetics, where turmeric finds increased application.
Click Here to Get Free Sample Copy of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-1855
Key Takeaways from the Report:
- Between 2018 and 2022, global sales of turmeric are forecast to surge at a CAGR of 5.5%.
- The global turmeric market size is anticipated to reach US$ 23,977.9 million by 2033.
- In terms of product form, the processed turmeric segment accounts for a dominant share of 78.4% of the total market in 2023.
- Based on variety, Alleppey turmeric segment holds a significant market share of 38.4% of the total turmeric market in 2023.
- By end use, food and beverage processing segment leads the turmeric market with a prominent share of 36.4% in 2023.
- The United Kingdom turmeric market is projected to expand at a CAGR of 6.1% during the forecast period from 2023 to 2033.
- Turmeric sales across India are likely to increase at a robust CAGR of 9.2% between 2023 and 2033.
- The USA turmeric market is forecast to exhibit a CAGR of 4.5% during the assessment period.
“Growing awareness about the potential health benefits of turmeric is anticipated to help the market thrive steadily during the projection period (2023 to 2033),” says a lead analyst at Future Market Insights.
Purchase this Premium Research Report | Immediate Delivery Available@ https://www.futuremarketinsights.com/checkout/1855
Who is Winning?
Leading turmeric manufacturing companies profiled in the report include The Archer Daniels Midland Company, Naturex S.A., Everest Spices, Symrise AG, Sabinsa Corporation, Kancor Ingredients Limited, Chr. Hansen A/S, MDH Spices, Roha Dyechem Pvt. Ltd., DDW The Colour House Corporation, Biomax Life Sciences Ltd., Kalsec, Inc., ITC Limited, Vigon International, Inc., Universal Oleoresins, McCormick & Company, BOS Natural Flavors (P) Limited, Ungerer & Company, Sensient Technologies Corporation, and Frutarom Industries Ltd.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Turmeric market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study provides compelling insights into the Turmeric market based on Variety (Madras Turmeric, Alleppey Turmeric, West Indian Turmeric), Product Form (Whole Turmeric, Processed Turmeric), End Use (Food and Beverage Processing, Pharmaceuticals & Dietary Supplements, Cosmetics & Personal Care, Textiles, Foodservice/HoReCa, Retail/Household), and Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Convenience Stores, Online Retail), Nature (Organic, Conventional) across several regions.
Access the Complete Report Methodology Now@ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-1855
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
