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.
Natural food colorant demand is fueling the turmeric ingredient market
Turmeric oleoresin finds wide use in a range of food and beverage products such as salad dressings, pickles, juices, cereals, baking products, and dairy products as a natural colorant. The population of health-conscious customers has risen exponentially, instigating demand for organic products like natural and organic food color.
Increased health awareness, multiple health benefits of turmeric ingredient, and increased need for natural & organic supplements have fuelled demand for turmeric essential oil in recent years, propelling turmeric ingredient market growth. In addition, factors such as living a healthy life, increasing demand for organic foods, as well as medicinal formulations, and pharmaceutical innovations are also boosting the overall market in all regions.
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