PUBLISHER: Value Market Research | PRODUCT CODE: 1547717
PUBLISHER: Value Market Research | PRODUCT CODE: 1547717
The global demand for Turmeric Market is presumed to reach the market size of nearly USD 11.46 Billion by 2032 from USD 5.83 Billion in 2023 with a CAGR of 7.81% under the study period 2024-2032.
Turmeric, also referred to as Curcuma longa, is a subspecies of the Curcuma genus from Zingiberaceae family. It has multiple therapeutic properties, such as anti-inflammatory, antioxidant, and cancer prevention. It has been used in Ayurveda medicine for various conditions such as inflammation, ulcers, diabetes, diarrhea, liver disease, and different skin conditions, including insect bites, chickenpox, and itching. Besides, turmeric is used as a spice and a colorant in foods, cosmetics, and textiles.
The global turmeric market is projected to grow at a robust rate during the forecast timeframe. The global turmeric market is promising for suppliers in emerging countries. The growing importance of turmeric in Ayurveda and the food industry is anticipated to drive the market growth. Growing applications of turmeric in the cosmetic sector create an opportunity for suppliers. The cosmetic industry is increasingly making turmeric used as an active compound in skin care preparations because of its antioxidant, anti-inflammatory, and anti-aging activity. Turmeric possesses many health benefits that meet the needs of Asian and European consumers. India is the largest turmeric producer, followed by China, Indonesia, Bangladesh, Myanmar, and Vietnam. India alone produces 70- 75% of the world total production. However, turmeric is not yet widely used in Western medicines due to inadequate knowledge about its benefit. This is anticipated to hamper the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Turmeric. The growth and trends of Turmeric industry provide a holistic approach to this study.
This section of the Turmeric market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Turmeric market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Turmeric market include Windcrest Farm, Oregon'S Wild Harvest, Organic Wise, Naturex S.A., Jacarandas International, Mountain Rose Herbs, NHR Organic Oils, Kauai Organic Farms, Feel Good Organics, Spicely Organics, Aryan International, Turmeric Australia. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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