USD 5.23 billion
Global Coleus And Turmeric Market Size, Share, Growth Analysis, By Product(Coleus forskohlii extract, turmeric powder), By Application(Food, beverage) - Industry Forecast 2024-2031
Report ID:
SQSG30B2011 |
Region:
Global |
Published Date: February, 2024
Pages:
267
|
Tables:
67 |
Figures:
75
Global Coleus And Turmeric Market Insights
Coleus And Turmeric Market size was valued at USD 5.23 billion in 2019 and is poised to grow from USD 5.65 billion in 2023 to USD 11.4 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).
Coleus forskohlii is a well-known traditional medicine used to treat a variety of diseases and disorders. Coleus forskohlii roots are used to extract forskolin. Forskolin, as a herbal compound, is used to treat a variety of health issues, including obesity, respiratory disorders, insomnia, and digestive disorders, among others. Turmeric, also known as Curcuma longa, is a popular spice in Southern Asia. It contains a lot of curcumin, volatile oil, and curcuminoids. It has anti-inflammatory, antioxidant, and anti-tumor properties, among other things. However, health complications associated with excessive consumption, as well as the negative effects of climate change, are expected to stymie market growth to some extent.
However, due to the growing importance of hygienic and nutritious foods, the pandemic has resulted in the adoption of some best-practice models for the food industry. Furthermore, dietary supplement sales increased during the pandemic because they boost the immune system's resistance to COVID-19. In the last week of March 2020, overall dietary supplement sales increased by more than 35% in the United States. Moreover, during the pandemic, the global demand for immunity-boosting products increased. Indian spices, particularly turmeric, have seen an increase in demand due to their reputation as a physical immunity booster. Immunity-boosting spices like turmeric saw a 19% increase in spice and spice product exports during the first half of 2020. India is the world's leading producer, consumer, and exporter of turmeric, accounting for approximately 75-80% of total production and 60% of export. The demand for Indian spices is primarily seen in major markets such as the United States and Europe.
US Coleus And Turmeric Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
turmeric powder
Fastest Growth
coleus forskohlii extract
Growth Rate
8.1% CAGR
Coleus and Turmeric Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Coleus and Turmeric Market By Product , 2021-2028 (%)
Coleus and Turmeric Market By Product 2021-2028 (%)
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Global Coleus And Turmeric Market Segmental Analysis
Global Coleus and Turmeric Market is segmented based on the Product, Application, and region. Based on Product, the market is segmented into coleus forskohlii extract, turmeric powder, turmeric extract (curcumin), and branded turmeric. Based on Application, the market is segmented into food and beverage, pharmaceutical and health supplements, cosmetics, other applications. Based on region, the market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA.
Coleus And Turmeric Market Analysis by Product
Turmeric powder held the largest market share in 2021, owing to its growing demand across various industries due to its high nutritional content and numerous health benefits. Furthermore, rising government initiatives to improve turmeric cultivation and production in major turmeric producing countries, such as India, support the turmeric powder market's growth.
Due to the increasing trend of plant-based beauty products, increasing consumer awareness about individual health and wellbeing, and high demand from the healthcare and pharmaceutical industries, the coleus forskohlii extract segment is expected to grow the most during the forecast period.
Coleus And Turmeric Market Analysis by Application
In 2021, the food and beverage segment held the largest share of the overall turmeric powder market. This segment's largest share and fastest growth can be attributed to its widespread use as a spice in cooking throughout South Asian countries and the Middle East. Furthermore, rising consumer awareness of the benefits of natural food products, as well as increased demand for canned beverages, baked goods, yellow cakes, sauces, dairy products, popcorn, sweets, cereals, cake icings, ice creams, orange juices, and biscuits, are driving the growth of this market.
The pharmaceutical and health supplements segment held the largest share of the overall turmeric extract (curcumin) market in 2021, due to increasing demand for ayurvedic and herbal medicinal formulations. However, due to increasing consumer health consciousness and demand for natural food colouring additives, the food and beverages segment is expected to grow the most during the forecast period.
Coleus and Turmeric Market By Product , 2021 (%), 2023 (%)
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Global Coleus And Turmeric Market Regional Insights
Asia-Pacific was indeed the largest Global Coleus and Turmeric Market in 2021, followed by the Middle East and Africa, Europe, North America, and Latin America. The presence of key players, rising demand for nutritional supplements, an increasing number of health-conscious people, rising government support for coleus and turmeric cultivation, a growing medical tourism sector, and rising demand for herbal medicines all contribute to Asia-large Pacific's share.
Because of rising demand for food and nutritional supplements, rising prevalence of chronic diseases, rising health awareness, increasing number of product launches, and the expanding Ayurveda industry, North America is expected to have the highest CAGR during the forecast period. Furthermore, the presence of a plethora of premium cosmetic brands, as well as a growing consumer preference for organic ingredients like coleus and turmeric, contribute to the market's growth.
Coleus and Turmeric Market By Region, 2021-2028, 2024-2031
- Largest
- Fastest
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Global Coleus And Turmeric Market Dynamics
Coleus And Turmeric Market Driver
- Rising Demand in Sports Nutrition Industry
Growth in this market is being driven by rising demand for coleus forskolin in the sports nutrition industry, rising consumption of weight loss supplements, consumer demand for natural products, and the expanding Ayurveda sector. Furthermore, rising government initiatives and a greater emphasis on curcumin research and development are expected to provide market participants with lucrative opportunities.
Coleus And Turmeric Market Restraint
- Climatic Changes to Hamper Market Growth
Health complications associated with excessive consumption, as well as the negative effects of climate change, are expected to impede market growth to some extent.
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Global Coleus And Turmeric Market Competitive Landscape
Due to the rising awareness for health, producers are partnering with other market participants to improve production capacity. Manufacturers are developing cutting-edge technology to boost manufacturing capacity.
Coleus And Turmeric Market Top Player's Company Profiles
- Sabinsa Corporation
- Synthite Industries Ltd.
- Arjuna Natural Pvt Ltd.
- Biomax Life Sciences Ltd.
- Herbochem
- Star Hi Herbs Pvt. Ltd.
- Naturite Agro Products Ltd.
- SV Agrofood
- Arpan Herbals Pvt Ltd.
- Helmigs Prima Sejahtera PT
- Organica Aromatics Pvt. Ltd.
- Ambe Phytoextracts Pvt Ltd.
- Indo World Trading Corporation
- The Green Labs LLC
- Universal Oleoresins
- Sami Labs Ltd.
- Gramin India Agri Businest Pvt Ltd.
- Alpspure Lifesciences Pvt Ltd.
- Plant Lipids
- M/s Jayshree Exports
Coleus And Turmeric Market Recent Development
- On July 2021, LipoTherapeia, London's skin tightening and cellulite specialists, are launching Celluence Legs, the world's first cellulite cream with high concentrations of nine extensively researched natural active molecules, specific to leg skin wellness: Curcumin (Turmeric extract), EGCG (Green Tea extract), Asiatic Acid + Madecassic Acid + Asiaticoside (Centella Asiatica extracts), Esculin (Horse Chestnut extract), Forskolin All of this is held together by a luxurious, naturally aromatic cream base of extra virgin plum oil.
Global Coleus And Turmeric Key Market Trends
- Environmental awareness and growing emphasis on health and wellness have resulted in a widespread shift in lifestyle in recent years. This has increased demand for natural products like forskolin and turmeric. Because of rising health consciousness, consumers want to know where their food comes from and what ingredients are used to make it. Natural supplements provide a variety of health benefits. Forskolin has been used in the treatment of glaucoma. According to one study, forskolin may help relieve eye pressure, which is common in glaucoma. It has also been shown to be a safe alternative to beta blockers in glaucoma patients with asthma. Customers are willing to pay more for natural products as a result. The companies concentrate their efforts on launching innovative forskolin supplements and turmeric supplements with advanced to expand their product portfolio and increase their customer base. As a result, global consumer demand for naturally extracted turmeric and coleus products is increasing.
Global Coleus And Turmeric Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Coleus and Turmeric Market, as a result of the COVID-19 outbreak in 2020, a number of countries have increased their consumption of immunity-boosting and Ayurvedic products, such as turmeric. This shift in consumption habits, along with a greater emphasis on health and wellness, will drive market growth in the coming years. Global Coleus and Turmeric Markets are expanding due to rising consumer demand for natural products. The turmeric powder segment dominated the Market in 2021. Because turmeric powder is widely used as a spice in cooking in South Asian countries and the Middle East, the food and beverage segment dominated the turmeric powder market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.23 billion |
| Market size value in 2031 | USD 11.4 billion |
| Growth Rate | 8.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Coleus And Turmeric Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Coleus And Turmeric Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Coleus And Turmeric Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Coleus And Turmeric Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Coleus And Turmeric Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Coleus And Turmeric Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Coleus And Turmeric Market Report Snapshots
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