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Nov 06, 2024

Rising Demand for Natural Ingredients Drives Turmeric Oleoresin Market to Reach USD 118.1 Million by 2032 | Future Market Insights Inc.

Turmeric Oleoresin, primarily produced in India and China, is widely used as a natural food coloring and dietary supplement in the Asia Pacific, North America, and Europe. The growing demand for

Turmeric Oleoresin, primarily produced in India and China, is widely used as a natural food coloring and dietary supplement in the Asia Pacific, North America, and Europe. The growing demand for natural ingredients and its health benefits is driving market growth in the region.

NEWARK, DE / ACCESSWIRE / November 6, 2024 / The global market for turmeric oleoresin is on a strong growth trajectory, projected to increase from USD 71.1 million in 2022 to USD 118.1 million by 2032, exhibiting a CAGR of 5.20% during the forecast period of 2022 to 2032. With a rising demand for natural colorants and ingredients, turmeric oleoresin has become a vital ingredient across industries such as food and beverage, pharmaceuticals, and cosmetics.

Turmeric oleoresin, a concentrated extract derived from the turmeric plant (Curcuma longa), has long been valued for its medicinal, culinary, and cosmetic applications. Containing 5-15% curcumin, turmeric oleoresin offers the same therapeutic and flavoring benefits as the raw turmeric spice. However, its high solubility and potency make it particularly appealing for use in processed food products, cosmetics, and even pharmaceuticals. The market is increasingly driven by the food industry's growing demand for natural ingredients, as well as the burgeoning awareness of turmeric's health benefits, particularly its anti-inflammatory and antioxidant properties.

In 2021, the turmeric oleoresin market was valued at USD 68.6 million and has shown steady growth due to increasing adoption in both developed and emerging markets. This growth is anticipated to continue, driven by rising consumer preferences for clean-label and natural products.

Demand and Growth Factors

One of the primary drivers of the turmeric oleoresin market is its extensive use as a natural food coloring. With rising health consciousness, consumers are increasingly seeking natural alternatives to synthetic colorants. Turmeric oleoresin, known for its vibrant yellow pigment, has become a popular choice in the food and beverage industry, where it is used to color a wide range of products, including sauces, snacks, dairy products, and beverages.

The cosmetic industry has also played a key role in propelling the growth of this market. Turmeric oleoresin is frequently used in skincare products, including creams, lotions, and dyes, due to its anti-inflammatory and skin-soothing properties. Additionally, turmeric oleoresin's rising popularity as a dietary supplement, particularly in the form of capsules and powders, is further fueling its demand. Research linking turmeric to potential health benefits, such as improved joint health, cancer prevention, and enhanced cognitive function, is contributing to this surge in demand.

"Turmeric Oleoresin's versatility in soluble and insoluble forms allows for broad applications in pharmaceuticals and healthcare. Its soluble form is ideal for supplements due to better absorption, while the insoluble form is commonly used in topical treatments, enhancing its potential in medical and therapeutic uses."- says Nandini Roy Choudhury, Client Partner at Future Market Insights

Health Benefits Drive Market Growth

Recent research has highlighted the health benefits of turmeric oleoresin, particularly due to curcumin, its key active component. Known for its potent anti-inflammatory and antioxidant properties, curcumin has gained attention for its potential to reduce inflammation, manage pain, and support cognitive health. While more extensive research is needed to confirm these benefits, consumer interest in turmeric-based supplements and natural remedies continues to rise, driving market demand.

Regional Insights: Asia Pacific Leads Market Growth

Asia Pacific, led by India and China, dominates the global turmeric oleoresin market. India, the world's largest producer of turmeric, continues to play a crucial role in meeting the increasing demand for turmeric oleoresin, particularly in the food and pharmaceutical sectors. The region is also witnessing growth in exports to North America and Europe, where demand for natural and clean-label ingredients is on the rise.

Key Takeaways:

Strong CAGR of 5.20%: The turmeric oleoresin market is forecasted to grow steadily, driven by consumer demand for clean-label products and natural alternatives to synthetic additives.

Asia-Pacific Market Opportunities: Investors can look to capitalize on the rapid growth in the Asia-Pacific region, where production capabilities and consumer demand are expanding.

Rising Demand for Natural Food Colorants: With the food and beverage industry shifting toward natural ingredients, turmeric oleoresin serves as a viable alternative to synthetic food colorants.

Health-Conscious Consumers: Increasing awareness of the health benefits of natural ingredients is driving demand for turmeric oleoresin in dietary supplements.

Cosmetic Industry Applications: The cosmetics industry is utilizing turmeric oleoresin for its anti-inflammatory properties and natural pigmentation in creams, lotions, and dyes.

Detailed Market Study: Full Report and Analysishttps://www.futuremarketinsights.com/reports/turmeric-oleoresin-market

Competitive Landscape

The turmeric oleoresin market is highly competitive, with both established players and emerging companies striving to capture market share. Leading suppliers such as Nikita Extracts, Ungerer & Company, Kancor Ingredients Limited, and Synthite Industries Ltd are leveraging economies of scale to offer competitively priced products. Indian suppliers, benefiting from lower labor costs, maintain a strong position in the market, while Chinese companies continue to focus on quality improvement.

Turmeric Oleoresin segmentation

By End-use:

Hotel

Restaurants

Cafes

Cloud Kitchens

Domestic Purpose

Cosmetic

Pharmaceutical industry

By Region:

North America

Latin America

Europe

Asia Pacific

Oceania

Middle East and Africa (MEA)

By Product type:

Powder

Paste

Oil

By Distribution channel:

Hyper Market/Supermarket

Convenience Store

Retailers

Online

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

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SOURCE: Future Market Insights, Inc.

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