TURMERIC OLEORESIN MARKET ANALYSIS

Turmeric Oleoresin MarketSize and Trends

CMI predicts the global turmeric oleoresin market to grow at a healthy growth rate owing to shifting consumer preference towards use of natural oleoresins.

A key driver propelling growth of the global turmeric oleoresin market is the usage of oleoresin in margarine and dry mixes. Turmeric oleoresin available in dry powder form allows for easy mixing as compared to conventional oleoresins and thus, finds increasing application in instant mix food products such as soups, beverages, and ready meal. Owing to the ability of turmeric oleoresin to enhance the stability and facilitate the application in food products is also expected to drive growth of the global market. Furthermore, turmeric oleoresin is expected to witness an escalating demand in the future due to its longer shelf-life and acts as an economical substitute for ground spices. With advancements in easy storage and transportation facilities the market of turmeric oleoresin is set to grow significantly in the future. Furthermore, global market is expected to witness a healthy growth rate during the forecast period owing to improving government taxation schemes and incentives across the world. For instance, countries such as Indonesia, Myanmar and Vietnam are offering Export Processing Zones (EPZ) space to manufacturers and a 5 -10 year tax holiday to attract the companies operating in the global turmeric oleoresin market.

Market- Trends