What’s Driving the Turmeric Oleoresin Market in 2024?

The global turmeric oleoresin market is expected to witness substantial growth over the forecast period, driven by increasing demand for natural ingredients in food, pharmaceuticals, and cosmetics. In 2023, the market was valued at US$ 75.5 million and is projected to grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2034. Turmeric oleoresin, known for its potent antioxidant, anti-inflammatory, and coloring properties, is gaining popularity in the food industry as a natural food additive. The rising awareness of the health benefits of turmeric, along with the growing trend toward clean-label and organic products, is expected to boost market demand.

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By the end of 2034, the global turmeric oleoresin market is forecasted to reach US$ 192.2 million. The pharmaceutical industry is also increasingly using turmeric oleoresin for its medicinal properties, particularly in the development of anti-inflammatory and anti-cancer treatments. Additionally, the cosmetic industry is incorporating turmeric oleoresin into skincare products due to its ability to reduce inflammation and improve skin health. With rising consumer preference for plant-based ingredients and ongoing research into the potential health benefits of turmeric, the market outlook remains highly promising for the next decade.

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