Turmeric Powder Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The Turmeric Powder Market is expected to register a CAGR of 5.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The report is segmented by category (organic and conventional). The report further presents analysis based on distribution channel (supermarkets and hypermarkets, convenience stores, online retail, and others). The global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.

Purpose of the Report

The report Turmeric Powder Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

• Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
• Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
• Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Turmeric Powder Market Segmentation

Category

• Organic and Conventional

Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Retail
• Others
• Geography

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Turmeric Powder Market Growth Drivers

• Rising Disposable Income: The rising disposable income and increasing health consciousness across the globe contributing to the turmeric powder market growth. The antioxidant and anti-inflammatory properties of turmeric powder boost its demand among consumers for culinary purposes. It is widely used in Asian cuisine, which is leading to the consistent demand.
  
• Wider Applications: Wide applications of turmeric include home remedies, cooking, and homemade face packs. Moreover, increase in popularity of ethnic food fuels demand of turmeric powder. Additionally, DIY home remedies for skin care further boost the demand for turmeric powder. These factors expected to drive the market growth in the forecast period.
  
• Expansion and New Products Launches: Turmeric powder manufacturers are taking several strategic initiatives such as new product launches, production capacity scaleup, mergers and acquisitions, partnerships, and collaborations to improve their market position and meet growing demands from customers worldwide. Such strategic initiatives aid market growth globally.

Turmeric Powder Market Future Trends

• Rising Consumer Demand for Clean-Label Products: Consumers across the globe are highly concerned about the ingredients used for consumption. They pay attention to product labels and ingredients used in processed products. Consumers' interest in identifying the ingredients on the product packaging has also triggered their inclinations toward clean-label products.
  
• Rise of Clean-Label Products: An understandable and clear label with thorough ingredient information attracts consumers. Using clean-label ingredients also assists manufacturers in their marketing and branding strategies. Thus, the rising demand for clean-label products is expected to introduce new trends into the turmeric powder market during the forecast period.
  
• The Rising Demand for Ethically Sourced Ingredients: Organic ingredients such as turmeric powder is gaining significant popularity owing to their perceived health benefits. They are manufactured using ingredients harvested without pesticides, chemical fertilizers, and genetically modified organisms (GMOs), increasing their appeal among consumers, who are ready to pay higher prices. Moreover, consumers increasingly prefer products free of synthetic colors, flavors, and other food additives. Further, they focus on holistic and conscious consumption and prefer products made with ethically sourced ingredients.

Turmeric Powder Market Opportunities

• The Transformation of Shopping through E-Commerce: The emergence of e-commerce has transformed how people shop and purchase food products. The growing penetration of the internet and smartphones, quick access to emerging technologies, rising purchasing power, and convenience provided by online retail shopping platforms are among the key factors bolstering e-commerce.
  
• The Surge in Online Food Sales During the Pandemic: People are increasingly preferring online retail channels for buying turmeric powder. The online sales of food and beverages grew significantly during the COVID-19 outbreak due to the shutdown of brick-and-mortar stores and the imposition of several social restrictions by governments of various countries across the globe. According to the US Department of Commerce Retail Indicator Division, e-commerce sales in the US reached US$ 870 billion in 2021, up by 14.2% from 2020. Furthermore, online grocery sales grew by 170% in 2021 than 2020, accounting for 9.6% of total grocery sales in the US.
  
• The Shift of Turmeric Powder Sales to Online Platforms: With the rising penetration of e-commerce across multiple geographies, the manufacturers turmeric powder are also enhancing their online presence by selling products through Amazon, Tesco, Walmart, and other well-known e-commerce platforms. The growing adoption of e-commerce platforms is eliminating the dependency on offline retail stores. Thus, the increasing prevalence of online channels are contributing to the growth of the turmeric powder market.

Turmeric Powder Market Regional Insights

The regional trends and factors influencing the Turmeric Powder Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Turmeric Powder Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Turmeric Powder Market Report Scope

Turmeric Powder Market Players Density: Understanding Its Impact on Business Dynamics

The Turmeric Powder Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Turmeric Powder Market are:

1. McCormick and Company, Inc.
2. Badia Spices, Inc.
3. MOTHER NATURE ORGANICS
4. Sunfood
5. Frontier Co-op.

Disclaimer: The companies listed above are not ranked in any particular order.

Key Selling Points

• Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Turmeric Powder Market, providing a holistic landscape.
• Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
• Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
• Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Turmeric Powder Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.