Industry Background:
Turmeric is a perennial, rhizomatous, herbaceous plant native to Indian subcontinent and Southeast Asia. The turmeric powder is one of the key ingredients in many Asian dishes. It has been used in Ayurvedic medicine for many conditions including breathing problems, rheumatism, serious pain and fatigue. It is also used as a dietary supplement for inflammation, arthritis and other problems. It has various industrial applications such as dye, indicator and others.
According to AMA Research, the market for Turmeric Powder is expected to register a CAGR of 5.6% during the forecast period to 2030. This growth is primarily driven by Nutritional and Health Benefits Of the Turmeric Powder
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Chr. Hansen A/S (Denmark), Sabinsa Corporation (United States), Synthite Industries Ltd. (India), Ungerer & Company, Inc. (United States), Sensient Technologies Corporation (United States), Naturex S.A. (France), Kancor Ingredients Limited. (India), DDW The Colour House (United States), BOS Natural Flavors (P) Limited (India), Roha Dyechem Pvt. Ltd (India), ITC Limited (India), McCormick & Comp (United States), Virdhara International (India), NMP Udhyog (India), NCC Agro Industries (India) and Sudarshan Agro Foods (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2020, Chr. Hansen Holding A/S and HSO Health Care GmbH has entered into an agreement, under which Chr. Hansen will acquire HSO Health Care. The acquisition of the Austria-based B2B company specializing in probiotics for women’s health will strengthen and expand Chr. Hansen’s global microbial platform.
In March 2019, Naturex launches organic, water-dispersible, and bioavailable turmeric that has instant water dispersability.Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Influencing Trend:
Increasing Demand for Ayurvedic Treatments and Increasing Demand for Food industry
Market Growth Drivers:
Nutritional and Health Benefits Of the Turmeric Powder, High Demand for Numerous Industrial Applications and Growing Demand from Online Customers
Challenges:
Changing Weather Conditions May Hamper the Production of Turmeric
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Growing Demand from the Healthcare Sector, Increasing Applications in the Skincare Products and Increasing Awareness among People about Turmeric Benefits
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Turmeric Powder Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Turmeric Powder Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Turmeric Powder players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Turmeric Powder Study Sheds Light on
The Turmeric Powder Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Turmeric Powder industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Turmeric Powder industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.