The global turmeric oleoresin market revenue was US$ 75.5 million in 2023. The global market is estimated to reach US$ 161.2 million by 2032, growing at a compound annual growth rate (CAGR) of 8.8% during the forecast period from 2024 to 2032.
Turmeric oleoresin is a concentrated extract derived from the rhizome of the Curcuma longa plant, commonly known as turmeric. This oleoresin captures the essential flavoring components of turmeric, maintaining a composition that includes 5 to 15% curcumin, the active compound responsible for many of its health benefits. Renowned for its vibrant yellow color and high curcumin content, turmeric oleoresin is celebrated for its antioxidant, anti-inflammatory, and antibacterial properties. These beneficial attributes make it a valuable ingredient across various industries, including food, pharmaceuticals, cosmetics, and personal care.
Factors Influencing the Global Turmeric Oleoresin Market
The expanding cosmetics and personal care sectors play a crucial role in driving the demand for turmeric oleoresin, which is acclaimed for its numerous beneficial properties. The remarkable characteristics make turmeric oleoresin a highly sought-after ingredient in various skincare products, such as creams, serums, and lotions. As consumers increasingly seek natural and effective solutions for their skin concerns, the appeal of turmeric oleoresin continues to grow, solidifying its place in the beauty industry.
The global turmeric oleoresin market is witnessing significant growth, driven by the popularity of functional and medicinal beverages that claim various health benefits. The active compound curcumin, found in high concentrations within turmeric oleoresin, is widely recognized for its positive effects on health, leading to increasing demand in the pharmaceutical and nutraceutical industries.
The increasing penetration of e-commerce and online stores is set to propel the global turmeric oleoresin market. Thanks to the long shelf-life of spice oleoresins like turmeric oleoresin, along with their small product sizes and the fragmented nature of the market, online platforms serve as an effective distribution channel for these products. Consumers are increasingly turning to online shopping for its convenience and accessibility, making it easier to find and purchase turmeric oleoresin. This trend is expected to enhance the market reach and overall growth of turmeric oleoresin in the coming years.
One of the primary challenges in the spice industry is ensuring that quality standards are consistently met. This involves cultivating and processing clean, high-quality spices free from adulteration or contamination. Maintaining these quality standards is crucial for consumer safety and satisfaction, as well as for the reputation of the products in the market.
Regional Analysis
Europe is likely to grow at the highest growth rate of the turmeric oleoresin market, primarily fueled by the increasing preference for natural ingredients within the food and beverage industry. As consumers become more health-conscious, there is a growing awareness of the health benefits associated with turmeric, particularly its active compound, curcumin. This shift in consumer behavior is further supported by strict regulations regarding food ingredients, which encourage the use of clean-label products free from synthetic additives.
In addition to its culinary applications, turmeric oleoresin is gaining traction in traditional and natural medicine across Europe. Its incorporation into various health products reflects a broader trend towards holistic wellness and herbal remedies.
Moreover, the beauty industry in Europe is increasingly integrating turmeric oleoresin into skincare and personal care products. This is largely due to its antioxidant and anti-inflammatory properties, which are highly valued for their potential to enhance skin health and address various skin concerns. As a result, the demand for turmeric oleoresin is expected to continue rising, driven by its versatility and the growing consumer preference for natural, effective solutions in the food and personal care sectors.
List of Key Companies
- Nikita Extracts
- Ungerer & Company
- Kancor Ingredients Limited
- Asian Oleoresin Company
- Vidya Herbs Pvt. Ltd.
- Naturite Agro Products Ltd.
- Universal Oleoresins
- Synthite Industries Ltd
- DDW The Color House
- Ozone Naturals
- Indo-World
- Other Prominent Players
Market Segmentation Outline
The global turmeric oleoresin market segmentation focuses on Nature, Extraction Method, End Use, Distribution Channel, and Region.
By Nature
- Organic
- Conventional
By Extraction Method
- Solvent Extraction
- Supercritical Fluid Extraction (SCFE)
By End Use
- Food & Beverage Industry
- Pharmaceutical
- Nutraceuticals
- Retail/Household
By Distribution Channel
- Business to Business
- Business to Consumer
- Hypermarket/Supermarket
- Specialty Stores
- Online Retail
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- South Korea
- Japan
- Australia & New Zealand
- ASEAN
- Malaysia
- Myanmar
- Philippines
- Singapore
- Thailand
- Vietnam
- Indonesia
- Cambodia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America