TURMERIC OLEORESIN MARKET ANALYSIS

Regional Analysis

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.