Global Turmeric Ingredient – Market Outlook
The most popular turmeric ingredient gaining popularity among the consumers as well as food manufacturers is turmeric oleoresin. Apart from turmeric powder, it is the most commonly used ingredient as food colorant by food manufacturers.
Due to the prevalence of artificial ingredients in food, drugs, and cosmetics, health issues are the main factors that motivate manufacturers to incorporate organic ingredients in product formulation. That is expected to drive the turmeric ingredient market.
Turmeric oleoresin is extensively used in the food industry as a flavoring agent. Rising demand for packaged spices in food products has raised turmeric oleoresin production. Due to its soluble characteristics, turmeric ingredients is globally used as a food additive in various food products
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Growing consumer interest in natural ingredients has strengthened the growth of the global turmeric ingredient market
Natural ingredients are now a priority for consumers and are willing to pay premium prices for the procurement of organic products, due to their health benefits. Organic turmeric ingredient is in high demand among consumers who seek to reap the full health benefits of functional properties of the turmeric.
Increasing R&D investment, technological advancements in the processing of ingredients, and cost-effective manufacturing technologies are other factors that are expected to further drive turmeric ingredient market growth.
Increased spending on the development of innovative plant extracts into different personal care is expected to foster demand over the forecast period. In addition, different regulations which promote the use of the natural ingredient in products are likely to boost the market growth.
Some of the key players of the global turmeric ingredient market are d?TERRA, Kancor Ingredients Limited, Synthite Industries Ltd., Universal Oleoresins, Naturite Agro Products Ltd., DDW, INDO WORLD TRADING CORPORATION and others.
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