Global Coleus and Turmeric Market

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 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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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).

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. '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'

Rising Demand in Sports Nutrition Industry

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.

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.

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