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Turmeric Oleoresin Market Future Demand Strategies 2032

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5/23/2022

Turmeric Oleoresin Market Future Demand Strategies 2032

Durability and Cost-effectiveness to Drive Turmeric Oleoresin Market

Turmeric oleoresin is useful in improving stability of food items. Increasing applications of turmeric oleoresins in food is driving the expansion of the global market. There is an increasing demand for turmeric oleoresin, owing to its longer shelf life and ability to use it as a cost-effective solution for ground spices. This factor is expected to drive the global turmeric oleoresin market in the upcoming years. The global turmeric oleoresins market is significantly driven by factors such as advancements in convenient storage and transportation facilities, along with improved government taxation systems and incentives.

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Increase in Health Awareness and Adoption of Natural Products in Consumers

Rapid urbanization, growth in health awareness, and availability are some of the factors responsible for the rising demand for natural products. Consumers are spending a little more on natural products due to their health advantages. They are more aware about the choices of food after the coronavirus pandemic. They carefully investigate ingredients in the food and the processes that have been implemented for producing the final product before making a purchase. Thus, there is an increasing demand for essential oils and oleoresins by industries manufacturing consumer products. The rise in consumer awareness about nutritional advantages of turmeric oleoresins is responsible for market expansion.

Moreover, the growing applications of turmeric oleoresins in the production of body lotions and soaps is fueling global market. Growth and advancement in cosmetics and personal care industries is expected to propel the demand for oleoresin in the upcoming years. Oleoresin are increasingly being used in cosmetic products and healthcare products to treat various diseases.

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Increase in Applications of Turmeric Oleoresin in Food Industry

Turmeric oleoresin is commonly used for giving color and flavors to the food & beverages, due to their oxidative properties. Turmeric oleoresins majorly used as a colorant and flavoring agent, as it contains coloring matter, volatile oil, fatty oil, and bitter principles. Turmeric oleoresin is used for imparting colors that can be changed according to the pH. The Europe food processing segment is one of the most consuming markets globally for oleoresins. Applications of oleoresins are rapidly increasing in food & beverages industry across the globe.

There is an increasing demand for oleoresins due to rising popularity of ethnic dishes such as Indian, Thai, and Mexican cuisine across the globe. Oleoresins offers heat stability and longer shelf life to food items. Novel varieties of flavors are in high demand from consumers and food & flavoring companies. Turmeric oleoresins are low-cost and used in instant mix food products such as soups, beverages, and ready meals. Increasing applications of oleoresin in margarine and dry mixes is a major driver of the turmeric oleoresin market.

Strengthening Distribution Channels to Drive Global Market

The increasing demand for turmeric oleoresin across the globe is creating value-grab opportunities for product manufacturers to compete with top market players. Factors such as growing distribution channels including hypermarket/supermarket, specialty stores, etc. are responsible for the expansion of the global turmeric oleoresin market. Online retail channels offer a wide variety of buying options to their customers. Digitalization and online payment facilities with utmost security encourage consumers to buy products from online channels. This is expected to boost the global turmeric oleoresin market in the upcoming years. The lucrative presence of product manufacturers across the globe helps grow market exponentially.

Turmeric Oleoresin Market: Overview

Based on nature, the conventional segment of turmeric oleoresin is majorly consumed across the globe. The conventional segment holds a market volume share of around 95.9% and is estimated at 2,324 MT in 2022.
The North America holds market value share of 10.4% of the overall market. However, the U.S. holds market share of around 73.8% anticipated to reach 354 MT in terms of value by 2032.
Turmeric oleoresins are progressively becoming the major ingredients in different type of food products. Robust demand for oleoresin from various end-use industries, especially food and cosmetic, is expected to drive the global market. Oleoresin are extensively being used in cosmetic products, and utilized in healthcare products to treat several disease. Turmeric oleoresin is gaining recognition as an excellent ingredient in various cosmetic products. Advantages of using oleoresin; flavors are manifold. The food industry is witnessing considerable growth at the international level, which marks incremental opportunity for the turmeric oleoresin market.
Strong preference of antioxidants in food products is escalating with increasing demand from customers in the market. The global trend of consuming natural and healthy food ingredients is fueling the demand for turmeric oleoresin.

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Turmeric Oleoresin Market Future Demand Strategies 2032 Information may not be reliable