Global Turmeric Sales Forecast: 2018-2022 vs 2023-2033 Outlook

How the Turmeric Market Has Evolved and Where It’s Headed

The global turmeric market has seen a significant rise in demand from 2018 to 2022, fueled by the increasing use of turmeric in pharmaceuticals, dietary supplements, cosmetics, and the food and beverage industries. The demand for organic turmeric, especially high-curcumin varieties, continues to grow across key global markets, including the USA, Europe, and Southeast Asia. For global turmeric importers, understanding the evolving trends and future demand projections from 2023 to 2033 is crucial for sourcing the best quality turmeric.

As one of India’s leading turmeric exporters, Indian Turmerics is strategically positioned to meet the rising global demand with its sustainably sourced, high-curcumin organic turmeric products.

Turmeric Market Growth from 2018 to 2022: A Retrospective

Between 2018 and 2022, the global turmeric market witnessed a compound annual growth rate (CAGR) of 7.2%, primarily driven by:

• Rising consumer health awareness: Turmeric’s anti-inflammatory, antioxidant, and immune-boosting properties led to increased usage in nutraceuticals and functional foods.
• Growing demand for organic turmeric: Organic turmeric accounted for a significant portion of turmeric exports, especially to Western markets like the USA, Germany, and the UK.
• Expanding applications in pharmaceuticals: Turmeric’s active compound, curcumin, became widely used in pharmaceutical formulations, particularly for its anti-cancer, anti-inflammatory, and cardiovascular benefits.
• Price fluctuations: Global turmeric prices ranged between $2,200 and $3,000 per ton, with variations based on curcumin content, origin, and certification (organic or non-organic).

Turmeric Demand Forecast for 2024-2025

For the fiscal year 2024-25, global turmeric demand is expected to rise by 8.5%, driven by growing health awareness, increasing use in pharmaceutical products, and surging demand for organic turmeric in the USA, Europe, and Asia-Pacific regions. With curcumin-rich turmeric gaining prominence, Indian exporters like Indian Turmerics are well-positioned to meet this demand with sustainable and organic supply chains. This trend further strengthens turmeric’s role as a critical component in global nutraceuticals, cosmetics, and functional food industries.

Forecast for 2023 to 2033: Key Growth Drivers and Opportunities

The turmeric market is expected to expand significantly over the next decade, with a projected CAGR of 8.5% from 2023 to 2033. This is largely due to several factors shaping global demand:

1. Health and wellness trends: As global consumers continue prioritizing health, turmeric’s natural medicinal properties will drive higher demand in the nutraceutical and pharmaceutical sectors. Curcumin-rich turmeric will see an especially sharp rise in demand.
2. Surging demand for organic turmeric: Global turmeric importers, especially from the USA, Canada, Germany, and Japan, are increasingly seeking certified organic turmeric. The organic segment is expected to grow at a CAGR of 9% during the forecast period.
3. Expanding usage in food & beverages: Turmeric is being increasingly used in food products such as spice blends, beverages, and health snacks. The demand for turmeric-based products is growing particularly in North America and Europe, where consumers are embracing turmeric as a superfood.
4. Rising demand in cosmetics: Turmeric’s anti-inflammatory properties have made it a sought-after ingredient in skincare and beauty products. This trend is projected to grow in Asia-Pacific markets and expand globally.

Country-wise Insights: USA Turmeric Market Growth Prospects

The USA is one of the largest importers of turmeric, accounting for over 15% of global turmeric imports. From 2018 to 2022, the USA saw a steady increase in turmeric demand, largely due to its use in dietary supplements, functional foods, and the wellness sector. Going forward, the USA turmeric market is expected to experience a CAGR of 9% through 2033, driven by:

• Rising demand for high-curcumin turmeric: Pharmaceutical companies and nutraceutical brands in the USA prefer turmeric varieties with high curcumin content for their health benefits.
• Growth in organic turmeric imports: Consumers in the USA increasingly seek organic products, making the country a key market for organic turmeric suppliers. The organic turmeric segment in the USA is forecasted to grow by 10.2% annually.
• Expanding usage in turmeric beverages: The turmeric latte and golden milk trend in the USA have led to higher demand in the beverage sector, which continues to grow.

Key Trends Shaping the Global Turmeric Industry

Global turmeric importers should keep an eye on several emerging trends that will influence demand and pricing over the next decade:

1. Focus on high-curcumin content: Global demand for turmeric with curcumin content of over 5% is on the rise, particularly in the pharmaceutical and nutraceutical industries. High-curcumin turmeric commands a 20-30% premium compared to standard varieties.
2. Sustainability and traceability in supply chains: As consumers become more conscious of sustainable sourcing, the demand for fair-trade and sustainably farmed turmeric is increasing, particularly in Europe and North America. Indian Turmerics, with its focus on organic and sustainable farming practices, is well-placed to cater to this demand.
3. Technological advances in turmeric extraction: Enhanced extraction methods are allowing for the production of higher curcumin yields, benefiting industries focused on curcumin-based products like supplements, skincare, and pharmaceuticals.
4. Government support for organic farming: Countries like India, the largest turmeric producer, are providing subsidies and incentives for organic farming, further boosting the supply of high-quality organic turmeric for export.

Price Trends and Global Market Data

In 2023, turmeric demand surged globally, driven by its high curcumin content, organic certifications, and diverse applications. Importers are increasingly seeking premium turmeric to meet the growing needs of wellness, pharmaceutical, and food industries, highlighting its rising value and importance. Prices for high-curcumin organic turmeric have been particularly strong, reflecting its growing demand in the pharmaceutical and nutraceutical sectors.

Global turmeric importers, especially in the USA, Germany, France, Japan, and Australia, are focusing on long-term contracts to secure high-quality turmeric at stable prices, as fluctuations in turmeric production due to weather patterns in India and Southeast Asia can impact prices.

Indian Turmerics: Meeting Global Turmeric Demand

As one of the largest turmeric exporters in India, Indian Turmerics is committed to supplying the global market with high-quality, organic turmeric. With over 30 years of experience and a focus on sustainable farming, we are well-equipped to meet the rising demand from turmeric importers worldwide.

Our turmeric products are rich in curcumin, organically grown, and traceable from farm to export. We work closely with global importers to provide customized solutions, ensuring timely delivery and consistent quality.

Conclusion

The global turmeric market is poised for significant growth from 2023 to 2033, with demand for high-curcumin, organic turmeric continuing to rise. Countries like the USA, Germany, and Japan are leading the charge, driven by health-conscious consumers and growing applications in pharmaceuticals and food products. Indian Turmerics, with its focus on sustainable, high-curcumin turmeric, is ready to meet the global demand.

Are you a global turmeric importer looking for the best quality organic turmeric? Partner with Indian Turmerics to ensure a consistent supply of high-curcumin turmeric. Contact us today for premium turmeric export solutions.