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Turmeric Oleoresin Market report categorizes global market by form, and end use industry - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024
Turmeric Oleoresin Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018-2026
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.
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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.
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pallavi.reddy
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