Turmeric Oleoresin Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Turmeric oleoresin is obtained by the extraction of roots of Curcuma longa Linn, processed with volatile solvents such as methanol, ethanol, and isopropanol, etc. It is typically a spice oleoresin that mainly constitutes of 15% to 20% of curcumin, obtained from the ground rhizomes of turmeric. Turmeric oleoresin is available in yellow to dark red-brown paste, lumps, powder or liquid form. It finds significant application in the food industry as a flavoring agent. Owing to its soluble characteristics, turmeric oleoresin finds high usage as a food additive in various cuisines across the globe. Countries such as India, China and Brazil are the major manufacturing hubs for turmeric oleoresin and thus, are the market leaders. CMI predicts the global turmeric oleoresin market to grow at a healthy growth rate owing to shifting consumer preference towards use of natural oleoresins.

A key driver propelling growth of the global turmeric oleoresin market is the usage of oleoresin in margarine and dry mixes. Turmeric oleoresin available in dry powder form allows for easy mixing as compared to conventional oleoresins and thus, finds increasing application in instant mix food products such as soups, beverages, and ready meal. Owing to the ability of turmeric oleoresin to enhance the stability and facilitate the application in food products is also expected to drive growth of the global market. Furthermore, turmeric oleoresin is expected to witness an escalating demand in the future due to its longer shelf-life and acts as an economical substitute for ground spices. With advancements in easy storage and transportation facilities the market of turmeric oleoresin is set to grow significantly in the future. Furthermore, global market is expected to witness a healthy growth rate during the forecast period owing to improving government taxation schemes and incentives across the world. For instance, countries such as Indonesia, Myanmar and Vietnam are offering Export Processing Zones (EPZ) space to manufacturers and a 5 -10 year tax holiday to attract the companies operating in the global turmeric oleoresin market.

Turmeric Oleoresin Market Taxonomy

By Form

On the basis of form, the global market is classified as:

  • Powder
  • Paste
  • Oil
  • Lumps

By End-use Industry

On the basis of application, the global market is classified as:

  • Pharmaceuticals
  • Personal Care & Cosmetics
  • Food & Beverages

Turmeric oleoresin finds wide application as a natural colorant in a variety of food and beverage products such as salad dressings, pickles, beverages, cereals, bakery products, and dairy products. Among all the end-use industries, the food & beverages segment is expected to occupy the major share of the global turmeric oleoresin market both in terms of value and volume in the near future. Consumption of turmeric oleoresin in the pharmaceuticals industry is forecast to witness highest growth rate over the forecast period, owing to its increasing use in preparation of drugs that are used in treatment of cancer, back pain, and other health problems. Turmeric oleoresin is also highly preferred in the personal care & cosmetics industry in applications such as lotions, creams, and dyes.

Turmeric Oleoresin Market Outlook - Asia Pacific to continue to be the key growth engine for global market

Region-wise, the global turmeric oleoresin market is segmented into North America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific is expected to retain its dominance in the global market throughout the forecast period, owing to the growing markets for turmeric oleoresin in countries such as India, China, and Brazil. India currently accounts for over 65% share of the total oleoresin and spice oils production globally. However, recent trends show a shifting focus towards other major oleoresin and spice producing countries such as China, Indonesia, Vietnam, Cambodia, Sri Lanka and Myanmar. This is mainly due to availability of raw material at lower price tags, low manufacturing costs and favorable taxation scenario in these regions.

Some of the key players identified in the global turmeric oleoresin industry are Ungerer & Company, Vidya Herbs Pvt. Ltd., Nikita Extracts, Kancor Ingredients Ltd., Universal Oleoresins, Ozone Naturals, Naturite Agro Products Ltd., Synthite Industries, Ltd. Asian Oleoresin Company and Indo-World etc. These players are expected to focus on enhancing their product portfolio with a view to expanding their business and gain a competitive advantage in the global turmeric oleoresin market. 

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Smiley face

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
Smiley face

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.