Dublin, April 29, 2021 (GLOBE NEWSWIRE) -- The "Coleus and Turmeric Market by Product (Coleus, Turmeric Powder, Curcumin, Branded Turmeric), Application (Food and Beverages, Pharmaceutical & Health Supplements, Cosmetics, Other Applications), and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The coleus and turmeric market is expected to reach $6.9 billion by 2027, at a CAGR of 7.4% during the forecast period
The growth of this market is mainly attributed to the growing demand for coleus forskolin in the sports nutrition industry, increasing consumption of weight loss supplements, consumer demand for natural products, and the growing Ayurveda sector.
Moreover, increasing government initiatives and growing focus on curcumin research and development are expected to provide lucrative opportunities for manufacturers in the market. However, health complications associated with excess intake and the adverse effects of climate change are expected to hinder market growth to some extent.
Based on product, the coleus and turmeric market is segmented into coleus forskohlii extract, turmeric powder, turmeric extract (curcumin), and branded turmeric. The turmeric powder segment accounted for the largest market share in 2020 due to its growing demand across various industries due to its high nutritional content and several health benefits.
Moreover, rising government initiatives to enhance turmeric cultivation and production in major turmeric production countries, including India, further support the growth of the turmeric powder market.
However, the coleus forskohlii extract segment is expected to register the highest growth during the forecast period, primarily due to the rising trend of plant-based cosmetic products, growing consumer awareness regarding personal health and wellbeing, and huge demand from the healthcare and pharmaceutical industry.
Based on application, the turmeric powder market is segmented into food and beverage, pharmaceutical and health supplements, cosmetics, and other applications. The food and beverage segment commanded the largest share of the overall turmeric powder market in 2020.
The largest share and fastest growth of this segment is mainly attributed to its extensive use as a spice in cooking across South Asian countries and the Middle East. Moreover, rising awareness about the benefits of natural food products and its growing demand in canned beverages, baked items, yellow cakes, sauces, dairy items, popcorn, sweets, cereals, cake icings, ice creams, orange juices, and biscuits are further support the growth of this market.
Moreover, the pharmaceutical and health supplements segment commanded the largest share of the overall turmeric extract (curcumin) market in 2020. However, the food and beverages segment is expected to register the highest growth during the forecast period, primarily due to increasing health consciousness among the consumer and growing demand for natural food coloring additives.
In 2020, the pharmaceutical and health supplements segment commanded the largest share of the overall coleus forskohlii extract market. The large share of this segment is primarily attributed to the growing health consciousness and health benefits of coleus forskohlii extract in the healthcare and pharmaceutical industry.
Geographically, Asia-Pacific commanded the largest share of the coleus and turmeric market in 2020, followed by the Middle East & Africa and Europe. The presence of key players, increasing demand for nutritional supplements, growing number of health-conscious people, rising government support for the cultivation of the coleus & turmeric, growing medical tourism sector, and increasing demand for herbal medicines are some of the factors propelling the growth of this market.
However, North America is expected to register the highest CAGR during the forecast period owing to the growing demand for food & nutritional supplements, increasing prevalence of chronic diseases, rising health awareness among the consumers, rising number of product launches, and the expanding Ayurveda industry. Also, the presence of numerous premium cosmetic brands and growing consumer inclination towards organic components, such as coleus and turmeric, further support the growth of this market.
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product, application, and region/country?
- What was the historical market size for coleus and turmeric across the globe?
- What are the market forecasts and estimates for the period 2020-2027?
- What are the major drivers, restraints, opportunities, and trends for the global coleus and turmeric market?
- Who are the major players in the global coleus and turmeric market?
- How is the competitive landscape, and who are the market leaders in the global coleus and turmeric market?
- What are the recent developments in the global coleus and turmeric market?
- What are the geographical trends and high-growth regions/countries?
- Who are the local emerging players in the global coleus and turmeric market, and how do they compete with the global players?
Key Topics Covered:
1. Introduction
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.3. Market Assessment
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. Executive Summary
3.1. Introduction
3.2. Segment Analysis
3.2.1. Product Analysis
3.2.2. Regional Analysis
3.2.3. Key Players
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Demand for Coleus Forskolin in the Sports Nutrition Industry
4.2.2. Increasing Consumption of Weight Loss Supplements
4.2.3. Consumer Demand for Natural Products
4.2.4. Growing Ayurveda Sector
4.3. Restraints
4.3.1. Health Complications Associated with Excess Intake
4.3.2. Adverse Effects of Climate Change
4.4. Opportunities
4.4.1. Increasing Government Initiatives
4.4.2. Growing Focus on Curcumin Research and Development
4.5. Trends
4.5.1. Growing Demand for Herbal Cosmetics Products
4.5.2. Increasing Demand for Organic Turmeric
5. Impact of Covid-19 on the Coleus and Turmeric Market
6. Global Coleus and Turmeric Market, by Product
6.1. Introduction
6.2. Turmeric Powder
6.3. Turmeric Extract (Curcumin)
6.4. Branded Turmeric
6.5. Coleus Forskohlii Extract
7. Global Coleus and Turmeric Market, by Application
7.1. Introduction
7.2. Food and Beverages
7.3. Pharmaceutical and Health Supplements
7.4. Cosmetics
7.5. Other Applications
8. Coleus and Turmeric Market, by Region
9. Competitive Landscape
9.1. Introduction
9.2. Competitive Benchmarking
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Wacker Chemie AG (Germany)
- Ambe Phytoextracts Pvt Ltd. (India)
- OmniActive Health Technologies Limited (India)
- Natural Remedies (India)
- Herbochem (India)
- Inventia Healthcare Limited (India)
- Sabinsa Corporation (U.S.)
- Star Hi Herbs Pvt Ltd. (India)
- Arjuna Natural Pvt Ltd. (India)
- Plant Lipids Private Limited (India)
- Pharmavit (Netherlands)
- Indena S.p.A. (Italy)
- Olive Lifesciences Pvt Ltd (India)
- Alchem International Pvt. Ltd. (India)
- Sanat Products Ltd. (India).
For more information about this report visit https://www.researchandmarkets.com/r/z68omd