- Developments in easy storage and transportation system are projected to boost the global turmeric oleoresin market significantly in the near future
- Oleoresins are becoming more popular due to their antioxidant properties as well as their capacity to lower cholesterol levels and treat pains & aches
ALBANY, N.Y., March 18, 2022 /PRNewswire/ -- The global turmeric oleoresin market is estimated to value over US$ 68.1 Mn in 2022. The global market is anticipated to develop at a CAGR of 9.4% during the forecast period, from 2022 to 2032. It is expected to surpass the valuation of US$ 165.7 Mn by 2032. The demand for turmeric oleoresin is high due to the growing inclination toward eating natural and nutritious foods. Oleoresins, which are generated from spices, offer a wide range of healing properties. Oleoresins are becoming increasingly popular among consumers as a result of their antioxidant characteristics, as well as their potential to lower cholesterol levels, treat aches and pains, and offer various health benefits.
Turmeric oleoresin aids in the preservation of food products. The global turmeric oleoresin market is expanding due to the growing use of turmeric oleoresins in various food products. Turmeric oleoresin is becoming increasingly popular due to its extended shelf life and potential to be used as a cost-effective alternative to ground spices. In the forthcoming years, this factor is likely to bolster the growth of the global turmeric oleoresin market. With developments in easy storage and shipping facilities as well as better government taxation systems and incentives, the global turmeric oleoresins market is likely to observe considerable growth during the forecast period.
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South Asia is likely to account for more than 60% of the global market's revenue. The market in the region is expected to be worth US$ 46.3 Mn in 2022 and reach US$ 109.7 Mn by 2032.
Key Findings of Market Report
- Use of oleoresin in dry mixes and margarine is likely to emerge as a significant driver for the global turmeric oleoresin market. Turmeric oleoresin in the form of dry powder is simpler to blend than regular oleoresins; therefore, it is becoming more popular in instant mix food products, such as beverages, soups, and ready - to - eat meals.
- The potential of turmeric oleoresin to increase stability and allow usage in food items is expected to drive global market in the years to come. Turmeric oleoresin is also projected to witness growth in demand in the future, owing to its extended shelf life and potential to function as a cost-effective alternative to ground spices.
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- Turmeric oleoresins are increasingly being used in the preparation of soaps and body lotions. Growth and development of the cosmetics and personal care segments are likely to drive the demand for oleoresin in the near future. Besides, oleoresins are increasingly being utilized in healthcare products to treat different ailments.
- Use of antioxidants in food items is growing with rising customer demand. The demand for turmeric oleoresin is being fueled by the global trend of eating healthy and natural food products
Global Turmeric Oleoresin Market: Growth Drivers
- Due to the growing popularity of ethnic cuisines such as Mexican, Thai, and Indian throughout the world, oleoresins are likely to remain in high demand. Turmeric oleoresins are inexpensive, and commonly utilized in instant-mix food products such as ready-to-eat meals, drinks, and soups.
- Consumers are more likely to purchase items through online channels as a result of digitalization and secure online payment options. In the future years, this factor is likely to boost the global turmeric oleoresin market. Strong presence of various product manufacturers across eCommerce platforms is likely to assist in market develop rapidly.
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Global Turmeric Oleoresin Market: Key Players
Some of the key market players are
- Naturite Agro Products Ltd.
- Kancor Ingredients Limited
- Synthite Industries Ltd
- Asian Oleoresin Company
- DDW The Color House
- Ungerer & Company
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Global Turmeric Oleoresin Market: Segmentation
Nature
- Organic
- Conventional
Extraction Method
- Solvent Extraction
- SCFE
End Use
- Food & Beverage Industry
- Pharmaceutical
- Nutraceuticals
- Retail/Household
Distribution Channel
- Business to Business [B2B]
- Business to Consumer [B2C]
Food & Beverages Industry battles Tangible Impact of Economic and Cultural changes, Explore Transparency Market Research's award-winning coverage of the global Food & Beverages:
Packaged Turmeric-Based Beverage Market - https://www.transparencymarketresearch.com/packaged-turmericbased-beverage-market.html
Organic Turmeric Market - https://www.transparencymarketresearch.com/organic-turmeric-market.html
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