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Turmeric Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Turmeric Market Report is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The Study Includes the Production (Volume), Consumption (Value and Volume), and Trade in Terms of Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis. The Report Offers the Market Size and Forecasts in Terms of Volume in Metric Tons and Value in USD for all the Above Segments.

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Turmeric Market Size

Turmeric Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.9 Billion
Market Size (2029) USD 2.40 Billion
CAGR (2024 - 2029) 4.78 %
Fastest Growing Market North America
Largest Market Asia Pacific
Market Concentration Medium

Compare market size and growth of Turmeric Market with other markets in Agriculture Industry

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Turmeric Market Analysis

The Turmeric Market size is estimated at USD 1.9 billion in 2024, and is expected to reach USD 2.40 billion by 2029, at a CAGR of 4.78% during the forecast period (2024-2029).

  • The turmeric market is experiencing steady growth, fueled by its diverse applications across various sectors, including food, beverages, cosmetics, and pharmaceuticals. The Asia-Pacific region is at the forefront of this growth, with India leading global production, contributing approximately 80%. Other significant producers include China (8%), Myanmar (4%), Nigeria (3%), and Bangladesh (3%) in 2023. India’s position as both the largest producer and consumer of turmeric plays a crucial role in this dominance. In 2023, Indian turmeric, known for its high quality, accounted for about 70% of global consumption, driven by robust demand in domestic cooking and traditional medicine.
  • North America and Europe, driven by a consumer preference for organic and natural ingredients, have emerged as significant markets. However, these regions predominantly rely on imports, especially from Asia. Global demand for dietary supplements has surged, fueled by the growing awareness of turmeric's health benefits, especially its active component, curcumin. Recognized for its anti-inflammatory and antioxidant properties, curcumin is believed to aid conditions like arthritis and certain cancers. In the food sector, turmeric is increasingly featured in dairy products, sauces, and baked goods. Additionally, turmeric-infused beverages, such as lattes and shots, are witnessing a surge in popularity in Western markets, further driving market growth during the forecast period.

Turmeric Market Trends

United States Dominates the Global Imports of Turmeric

  • The United States holds a dominant position in global turmeric imports, with key import values reaching USD 50.8 million in 2023. The country's turmeric imports reached a volume of 11.9 thousand metric tons, demonstrating more than 11% growth from the previous year. As one of the leading importers of Indian turmeric, accounted for 67.2% of its turmeric imports. The United States is experiencing demand driven by the recognized health benefits of turmeric.
  • Key import hubs include cities like Chicago and New York, which collectively handle nearly 60% of all turmeric shipments. American consumers are showing preference for turmeric varieties with curcumin content ranging from 3.5% to 5%, reflecting a growing awareness of turmeric's health benefits and its connection to wellness trends.
  • In the United States, turmeric is available in multiple forms such as powders, capsules, and extracts, catering to a wide range of consumer preferences. In 2024, the popularity of golden milk is projected to rise, influenced by traditional Indian recipes. For instance, McDonald's CosMc's concept is featuring turmeric-spiced lattes, highlighting turmeric's mainstream appeal in 2024. The surging demand for turmeric not only shows its culinary versatility but also indicates a continued increase in turmeric imports to the United States.
Turmeric Market: Value of Imports in USD, By Country, 2023

Asia Pacific Dominates the Production and Export

  • The Asia-Pacific region is the dominant producer of turmeric globally, with India, Bangladesh, Myanmar, and China leading production in 2023. India alone accounted for around 80% of the world’s turmeric output in 2023, according to National Board of Turmeric, India is the largest producer, consumer and exporter of turmeric in the world. In the year 2022-23, an area of 0.32 million hectares was under turmeric cultivation in India with a production of 1.16 million metric tons. More than 30 varieties of Turmeric are grown in India and it is grown in over 20 states in the country. Key producing states within India, such as Telangana, Andhra Pradesh, Tamil Nadu, Maharashtra, and Karnataka, contribute significantly to the country’s turmeric supply, making it not only the largest producer but also the largest exporter.
  • According to ITC Trade Map, India has more than 64% share of world trade in turmeric, valued at USD 212.7 million was exported by more than 380 exporters in 2023. The leading export markets for Indian Turmeric are Bangladesh, UAE, USA, and Malaysia. With the focused activities of the Board, it is anticipated that turmeric exports will reach USD 1 billion by 2030. This dominance is driven by India’s long-standing agricultural tradition in turmeric cultivation, as well as its favorable tropical climate, which supports high curcumin-content varieties that are preferred in global markets.
  • Bangladesh, China, and Myanmar play pivotal roles in the regional turmeric production landscape. In Bangladesh, the Chittagong Hill Tracts and northern regions, with favorable soil and climate, stand out as prime zones for high-yield turmeric cultivation. Recognizing its potential, the Bangladeshi government is actively promoting turmeric as a cash crop, aiming to capitalize on both the rising local demand and attractive export opportunities. With Asia-Pacific dominating turmeric production, the region serves not just its local market but also international buyers, such as the United States, United Arab Emirates, and Europe, increasingly recognizing turmeric's health benefits.
Turmeric Market: Growth Rate(%) by Region, 2024 -2029

Turmeric Market News

  • June 2024: Nutriventia Limited revealed that Blackmores has introduced products utilizing its turmeric extract, TurmXTRA, targeting joint and muscle health with a daily dosage of 250 mg. This move underscores the proven efficacy and safety of TurmXTRA.
  • January 2023: SunPure South India’s largest edible oil brand entered the spice industry with the launch of turmeric and other powders.

Turmeric Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Consumer Awareness of Health Benefits

      2. 4.2.2 Rising Popularity of Natural and Organic Products

      3. 4.2.3 Increasing Demand in the Skincare and Cosmetics Industry

    3. 4.3 Market Restraints

      1. 4.3.1 Higher Dependence on Indian Exports and Limited Global Production

      2. 4.3.2 Price Volatility and Dependence on Weather Conditions

    4. 4.4 Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Geography

      1. 5.1.1 North America

        1. 5.1.1.1 United States

          1. 5.1.1.1.1 Production Analysis

          2. 5.1.1.1.2 Consumption Analysis and Market Value

          3. 5.1.1.1.3 Import Market Analysis (Volume and Value)

          4. 5.1.1.1.4 Export Market Analysis (Volume and Value)

          5. 5.1.1.1.5 Price Trend Analysis

        2. 5.1.1.2 Canada

          1. 5.1.1.2.1 Production Analysis

          2. 5.1.1.2.2 Consumption Analysis and Market Value

          3. 5.1.1.2.3 Import Market Analysis (Volume and Value)

          4. 5.1.1.2.4 Export Market Analysis (Volume and Value)

          5. 5.1.1.2.5 Price Trend Analysis

      2. 5.1.2 Europe

        1. 5.1.2.1 United Kingdom

          1. 5.1.2.1.1 Production Analysis

          2. 5.1.2.1.2 Consumption Analysis and Market Value

          3. 5.1.2.1.3 Import Market Analysis (Volume and Value)

          4. 5.1.2.1.4 Export Market Analysis (Volume and Value)

          5. 5.1.2.1.5 Price Trend Analysis

        2. 5.1.2.2 Germany

          1. 5.1.2.2.1 Production Analysis

          2. 5.1.2.2.2 Consumption Analysis and Market Value

          3. 5.1.2.2.3 Import Market Analysis (Volume and Value)

          4. 5.1.2.2.4 Export Market Analysis (Volume and Value)

          5. 5.1.2.2.5 Price Trend Analysis

        3. 5.1.2.3 Netherlands

          1. 5.1.2.3.1 Production Analysis

          2. 5.1.2.3.2 Consumption Analysis and Market Value

          3. 5.1.2.3.3 Import Market Analysis (Volume and Value)

          4. 5.1.2.3.4 Export Market Analysis (Volume and Value)

          5. 5.1.2.3.5 Price Trend Analysis

        4. 5.1.2.4 Spain

          1. 5.1.2.4.1 Production Analysis

          2. 5.1.2.4.2 Consumption Analysis and Market Value

          3. 5.1.2.4.3 Import Market Analysis (Volume and Value)

          4. 5.1.2.4.4 Export Market Analysis (Volume and Value)

          5. 5.1.2.4.5 Price Trend Analysis

        5. 5.1.2.5 France

          1. 5.1.2.5.1 Production Analysis

          2. 5.1.2.5.2 Consumption Analysis and Market Value

          3. 5.1.2.5.3 Import Market Analysis (Volume and Value)

          4. 5.1.2.5.4 Export Market Analysis (Volume and Value)

          5. 5.1.2.5.5 Price Trend Analysis

      3. 5.1.3 Asia-Pacific

        1. 5.1.3.1 China

          1. 5.1.3.1.1 Production Analysis

          2. 5.1.3.1.2 Consumption Analysis and Market Value

          3. 5.1.3.1.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.1.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.1.5 Price Trend Analysis

        2. 5.1.3.2 India

          1. 5.1.3.2.1 Production Analysis

          2. 5.1.3.2.2 Consumption Analysis and Market Value

          3. 5.1.3.2.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.2.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.2.5 Price Trend Analysis

        3. 5.1.3.3 Japan

          1. 5.1.3.3.1 Production Analysis

          2. 5.1.3.3.2 Consumption Analysis and Market Value

          3. 5.1.3.3.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.3.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.3.5 Price Trend Analysis

        4. 5.1.3.4 Bangladesh

          1. 5.1.3.4.1 Production Analysis

          2. 5.1.3.4.2 Consumption Analysis and Market Value

          3. 5.1.3.4.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.4.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.4.5 Price Trend Analysis

        5. 5.1.3.5 Thailand

          1. 5.1.3.5.1 Production Analysis

          2. 5.1.3.5.2 Consumption Analysis and Market Value

          3. 5.1.3.5.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.5.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.5.5 Price Trend Analysis

        6. 5.1.3.6 Vietnam

          1. 5.1.3.6.1 Production Analysis

          2. 5.1.3.6.2 Consumption Analysis and Market Value

          3. 5.1.3.6.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.6.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.6.5 Price Trend Analysis

        7. 5.1.3.7 Indonesia

          1. 5.1.3.7.1 Production Analysis

          2. 5.1.3.7.2 Consumption Analysis and Market Value

          3. 5.1.3.7.3 Import Market Analysis (Volume and Value)

          4. 5.1.3.7.4 Export Market Analysis (Volume and Value)

          5. 5.1.3.7.5 Price Trend Analysis

      4. 5.1.4 South America

        1. 5.1.4.1 Brazil

          1. 5.1.4.1.1 Production Analysis

          2. 5.1.4.1.2 Consumption Analysis and Market Value

          3. 5.1.4.1.3 Import Market Analysis (Volume and Value)

          4. 5.1.4.1.4 Export Market Analysis (Volume and Value)

          5. 5.1.4.1.5 Price Trend Analysis

        2. 5.1.4.2 Peru

          1. 5.1.4.2.1 Production Analysis

          2. 5.1.4.2.2 Consumption Analysis and Market Value

          3. 5.1.4.2.3 Import Market Analysis (Volume and Value)

          4. 5.1.4.2.4 Export Market Analysis (Volume and Value)

          5. 5.1.4.2.5 Price Trend Analysis

      5. 5.1.5 Middle East & Africa

        1. 5.1.5.1 South Africa

          1. 5.1.5.1.1 Production Analysis

          2. 5.1.5.1.2 Consumption Analysis and Market Value

          3. 5.1.5.1.3 Import Market Analysis (Volume and Value)

          4. 5.1.5.1.4 Export Market Analysis (Volume and Value)

          5. 5.1.5.1.5 Price Trend Analysis

        2. 5.1.5.2 United Arab Emirates

          1. 5.1.5.2.1 Production Analysis

          2. 5.1.5.2.2 Consumption Analysis and Market Value

          3. 5.1.5.2.3 Import Market Analysis (Volume and Value)

          4. 5.1.5.2.4 Export Market Analysis (Volume and Value)

          5. 5.1.5.2.5 Price Trend Analysis

  6. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Turmeric Industry Segmentation

Turmeric is a flowering plant, Curcuma longa, of the ginger family, Zingiberaceae, the rhizomes used in cooking. The plant is a perennial, rhizomatous, herbaceous plant native to the Indian subcontinent and Southeast Asia that requires temperatures. 

Turmeric Market is Segmented by Geography (North America, Europe, Asia-Pacific, South America, and Middle East & Africa). The Study includes the Production (Volume), Consumption (Value and Volume), and Trade in terms of Import (Value and Volume), Export (Value and Volume), and Price Trend Analysis. The report offers the market size and forecasts in terms of volume in metric tons and value in USD for all the above segments.

Geography
North America
United States
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Canada
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Europe
United Kingdom
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Germany
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Netherlands
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Spain
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
France
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Asia-Pacific
China
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
India
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Japan
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Bangladesh
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Thailand
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Vietnam
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Indonesia
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
South America
Brazil
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Peru
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
Middle East & Africa
South Africa
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
United Arab Emirates
Production Analysis
Consumption Analysis and Market Value
Import Market Analysis (Volume and Value)
Export Market Analysis (Volume and Value)
Price Trend Analysis
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Turmeric Market Research FAQs

The Turmeric Market size is expected to reach USD 1.9 billion in 2024 and grow at a CAGR of 4.78% to reach USD 2.40 billion by 2029.

In 2024, the Turmeric Market size is expected to reach USD 1.9 billion.

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Turmeric Market.

In 2023, the Turmeric Market size was estimated at USD 1.81 billion. The report covers the Turmeric Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Turmeric Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Turmeric Industry Report

Statistics for the 2024 Turmeric market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Turmeric analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Turmeric Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)