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Coleus and Turmeric Market
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 ID:MRFB - 104483 Pages: 102 Mar-2021 Formats*: PDF Category: Food and Beverages Delivery: 2 to 4 HoursThe Coleus and Turmeric Market is expected to reach $6.9 billion by 2027, at a CAGR of 7.4% during the forecast period. 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 are the key factors driving the growth of the coleus and turmeric market. 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.
The Impact of COVID-19 on the Coleus and Turmeric Market
The COVID-19 disease caused by the novel coronavirus SARS-nCoV-2 has created a severe public health emergency globally, with its quick spread in more than 215 countries. To combat & control the spread of this disease, many countries worldwide have declared emergencies and announced complete nationwide, statewide, or citywide lockdown, halting all the travel, transport, manufacturing, educational institutions, and non-essential trade. This has had a significant impact on many industries globally, hitting hard in terms of reduced manufacturing and distributions across the globe.
In the first quarter of 2020, a major slowdown in the sales of coleus and turmeric was witnessed due to disruptions in logistics and transportation. The market also witnessed interruptions in the entire value chain from production, packaging, and distribution of the final coleus and turmeric products.
However, the pandemic has led to the adoption of some best-practice models for the food industry due to the growing importance of hygienic and nutritious foods. Further, dietary supplement sales increased during the pandemic as they enhance the immune system against COVID-19 (Source: Nutrition Outlook). During the last week of March 2020, the sales growth for overall dietary supplements escalated to more than 35% in the U.S.
Also, during the pandemic, the demand for immunity-boosting products increased throughout the globe. Indian spices, especially turmeric, experienced a surge in demand as they are considered a physical immunity booster. During the first half of 2020, immunity-boosting spices, such as turmeric, witnessed a 19% growth in the export of spices and spice products (Source: Spice Board India). India is the world's largest producer, consumer, and exporter of turmeric, accounting for about 75-80% of its total production and 60% of its export (Source: Agricultural Market Intelligence Centre, PJTSAU). The demand for Indian spices is mainly seen in major markets, like the U.S. and Europe.
Similarly, countries like Bangladesh, Morocco, Iran, Malaysia, China, and Pakistan are also witnessing enhanced demand for Indian spices, including turmeric. In 2020, due to the outbreak of COVID-19, there has been a growth in the consumption of immunity-boosting and Ayurvedic products, including turmeric, in various countries. This change in consumption pattern and growing focus on health and wellness will drive the growth of this market in the coming years.
In conclusion, the growing awareness about the health benefits of turmeric and coleus, strong demand for dietary supplements, and increasing usage of immunity-boosting products positively impact the coleus and turmeric market.
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Growing consumer demand for natural products fuels the growth of the coleus and turmeric market
In recent years, a widespread shift in lifestyle has been witnessed due to environmental awareness and growing focus on health and wellness. This has stimulated the demand for natural products, such as forskolin and turmeric. Due to the growing health awareness, consumers want to know the source of the product they consume and the exact type of ingredients used to prepare them.
There are various health benefits associated with natural supplements. Forskolin has been used to try to treat glaucoma. A study indicates that forskolin may help relieve pressure in the eyes, often seen in glaucoma. It has also been a safe alternative to beta blockers in glaucoma patients with concomitant asthma. As a result, consumers are also ready to pay a premium price for natural products. The companies are focusing on introducing new forskolin supplements and turmeric supplements with enhanced benefits to expand their product portfolio and increase their customer base. Thus, the growing interest of consumers in naturally extracted turmeric and coleus products is increasing their demands across the globe.
Key Findings in the Coleus and Turmeric Market Study:
In 2020, the turmeric powder segment dominated the coleus and turmeric market
Based on product, the coleus and turmeric market is mainly segmented into coleus forskohlii extract, turmeric powder, turmeric extract (curcumin), and branded turmeric. In 2020, the turmeric powder segment accounted for the largest share of the coleus and turmeric market. The growth in turmeric powder sales will be mainly supported by the growing demand for turmeric powder 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.
In 2020, the food and beverage segment dominated the turmeric powder market
- Based on application, the turmeric powder market is segmented into food and beverage, pharmaceutical and health supplements, cosmetics, other applications. The food and beverage segment commanded the largest share of the overall turmeric powder market in 2020, owing 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, owing to the growing demand for ayurvedic and herbal medicinal formulations. 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.
- The pharmaceutical and health supplements segment commanded the largest share of the overall branded turmeric market in 2020. However, the food and beverage segment is expected to register the highest CAGR during the forecast period.
- In 2020, the pharmaceutical and health supplements segment commanded the largest share of the overall coleus forskohlii extract market. The largest share of this segment is primarily attributed to the growing health consciousness and high health benefits of coleus forskohlii extract in the healthcare and pharmaceutical industry.
In 2020, Asia-Pacific accounted for the largest share of the coleus and turmeric market
Based on region, Asia-Pacific commanded the largest share of the coleus and turmeric market in 2020, followed by the Middle East & Africa, Europe, North America, and Latin America. The large share of Asia-Pacific is mainly attributed to 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.
The market in North America is expected to register the highest CAGR during the forecast period mainly due to the rising demand for food & nutritional supplements, rising prevalence of chronic diseases, increasing health awareness, rising number of product launches, and the expanding Ayurveda industry. Moreover, 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 Players
The key players profiled in the coleus and turmeric market are 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), and Sanat Products Ltd. (India).
Scope of the Report
Coleus and Turmeric Market, by Product
- Coleus Forskohlii Extract
- Turmeric Powder
- Turmeric Extract (Curcumin)
- Branded Turmeric
Coleus and Turmeric Market, by Application
- Food and Beverages
- Pharmaceutical and Health Supplements
- Cosmetics
- Other Applications
Coleus and Turmeric Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Netherlands
- France
- Spain
- RoE (Rest of Europe)
- Asia-Pacific
- India
- China
- Japan
- Australia
- RoAPAC (Rest of Asia-Pacific)
- Latin America
- Middle East & Africa
Key Questions Answered in the Report:
Coleus forskohlii is a popular traditional medicine for treating various diseases and disorders. Forskolin is extracted from the roots of the Coleus forskohlii. As an herbal compound, forskolin is used to treat various health complications, such as obesity, respiratory disorders, insomnia, and digestive disorders, among others. Turmeric, also known as Curcuma longa, is a type of spice widely cultivated in southern Asia. It is a key source of curcumin, volatile oil, and curcuminoids. It possesses several medicinal features as well as anti-inflammatory, antioxidant, and anti-tumor characteristics.
The coleus and turmeric market is projected to reach $6.9 billion by 2027, at a CAGR of 7.4% during the forecast period.
Based on product, the turmeric powder segment is expected to witness the fastest growth during the forecast period.
o Growing demand for coleus forskolin in the sports nutrition industry o Increasing consumption of weight loss supplements o Consumer demand for natural products o Growing Ayurveda sector
o Health complications associated with excess intake o Adverse effects of climate change
Some of the key players operating in the coleus and turmeric market are 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), and Sanat Products Ltd. (India).
North America demonstrates strong growth potential due to rising demand for food & nutritional supplements, rising prevalence of chronic diseases, increasing health awareness, rising number of product launches, and the expanding Ayurveda industry. Moreover, 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.
Related Tag:
food and beverage
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up Approach
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
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
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.3. Europe
8.3.1. U.K.
8.3.2. Germany
8.3.3. Netherlands
8.3.4. France
8.3.5. Spain
8.3.6. Rest of Europe (RoE)
8.4. Asia-Pacific
8.4.1. India
8.4.2. China
8.4.3. Japan
8.4.4. Australia
8.4.5. Rest of Asia-Pacific (RoAPAC)
8.5. Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Competitive Benchmarking
10. Company Profiles (Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Wacker Chemie AG
10.2. Ambe Phytoextracts Pvt., Ltd.
10.3. OmniActive Health Technologies
10.4. Natural Remedies
10.5. Herbochem
10.6. Inventia Healthcare Limited
10.7. Sabinsa Corporation
10.8. Star Hi Herbs Pvt., Ltd.
10.9. Arjuna Natural Pvt. Ltd.
10.10. Plant Lipids Private Limited
10.11. Pharmavit
10.12. Indena S.p.A.
10.13. Olive Lifesciences Pvt. Ltd.
10.14. Alchem International Pvt. Ltd.
10.15. Sanat Products Limited
11. Appendix
11.1. Questionnaire
11.2. Available Customization
List of Tables
Table 1 Global Coleus and Turmeric Market: Impact Analysis of Market Drivers
(2020–2027)
Table 2 Global Coleus and Turmeric Market: Impact Analysis of Market Restraints (2020–2027)
Table 3 Global Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 4 Global Turmeric Powder Market Size, by Application, 2018–2027 (USD Million)
Table 5 Turmeric Powder Market Size, by Country/Region, 2018–2027 (USD Million)
Table 6 Global Turmeric Extract (Curcumin) Market Size, by Application, 2018–2027 (USD Million)
Table 7 Turmeric Extract (Curcumin) Market Size, by Country/Region, 2018–2027 (USD Million)
Table 8 List of Companies offering Branded Turmeric Products
Table 9 Global Branded Turmeric Market Size, by Application, 2018–2027 (USD Million)
Table 10 Branded Turmeric Market Size, by Country/Region, 2018–2027 (USD Million)
Table 11 Global Coleus Forskohlii Extract Market Size, by Application, 2018–2027 (USD Million)
Table 12 Coleus Forskohlii Extract Market Size, by Country/Region, 2018–2027 (USD Million)
Table 13 Coleus and Turmeric Market Size, by Region, 2018-2027 (USD Million)
Table 14 North America: Coleus and Turmeric Market Size, by Country, 2018–2027 (USD Million)
Table 15 North America: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 16 U.S.: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 17 Canada: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 18 Use and Classification of Curcuma Longa in Health Products
Table 19 Europe: Leading Countries Importing Turmeric, 2018
Table 20 Europe: Coleus and Turmeric Market Size, by Country, 2018–2027 (USD Million)
Table 21 Europe: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 22 U.K.: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 23 Germany: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 24 Netherlands: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 25 France: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 26 Spain: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 27 Rest of Europe: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 28 Asia-Pacific: Coleus and Turmeric Market Size, by Country, 2018–2027 (USD Million)
Table 29 Asia-Pacific: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 30 India: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 31 China: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 32 Japan: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 33 Australia: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 34 Rest of Asia-Pacific: Export of Turmeric, 2016-2019 (Tons)
Table 35 Rest of Asia-Pacific: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 36 Latin America: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 37 Middle East and Africa: Coleus and Turmeric Market Size, by Product, 2018–2027 (USD Million)
Table 38 Number of Developments by the Major Players During 2018-2021
List Of Figures
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6 Market Size Estimation
Figure 7 Turmeric Powder to Dominate the Coleus and Turmeric Market Through 2027
Figure 8 North America to Grow at the Highest CAGR During the Forecast Period
Figure 9 Market Dynamics
Figure 10 Global Coleus and Turmeric Market Size, by Product, 2020–2027 (USD Million)
Figure 11 Global Turmeric Powder Market Size, by Application, 2020–2027 (USD Million)
Figure 12 Global Turmeric Extract (Curcumin) Market Size, by Application, 2020–2027(USD Million)
Figure 13 Global Branded Turmeric Market Size, by Application, 2020–2027 (USD Million)
Figure 14 Global Coleus Forskohlii Extract Market Size, by Application, 2020–2027 (USD Million)
Figure 15 Coleus and Turmeric Market Size, by Region, 2018-2027 (USD Million)
Figure 16 Percentage of the U.S. Adults Take Dietary Supplements, 2019
Figure 17 U.S.: Turmeric (Curcuma) Import, 2016-2020 (In Tons)
Figure 18 Number of Adults in Canada With Class II or III Obesity
Figure 19 Canada: Turmeric (Curcuma) Import, 2016-2020 (In Tons)
Figure 20 European Vitamin and Supplements Market in Europe, 2010-2020 (Eur Billion)
Figure 21 U.K.: Turmeric (Curcuma) Import, 2016-2020 (In Tons)
Figure 22 Germany: Turmeric (Curcuma) Import, 2016–2020 (In Tons)
Figure 23 France: Turmeric (Curcuma) Import, 2016-2020 (In Tons)
Figure 24 Spain: Turmeric (Curcuma) Import, 2016–2020 (In Tons)
Figure 25 Italy: Turmeric (Curcuma) Import, 2016–2019 (In Tons)
Figure 26 India: Turmeric Production, 2017–2020 (Thousand Tons)
Figure 27 India: Turmeric Export, 2015–2019 (Thousand Tons)
Figure 28 China: Export of Turmeric (Curcuma), 2015-2019 (Tons)
Figure 29 China: Retail Sale of Cosmetic Products, 2014–2019 (USD Billion)
Figure 30 Japan: Import of Turmeric (Curcuma), 2016-2020 (Tons)
Figure 31 Australia: Import of Turmeric (Curcuma), 2016–2020 (Tons)
Figure 32 Latin America: Leading Turmeric (Curcuma) Importing Countries, 2019–2020 (In Tons)
Figure 33 Key Growth Strategies Adopted by Leading Players, 2018-2021
Figure 34 Global Coleus and Turmeric Market: Competitive Benchmarking
Figure 35 Wacker Chemie AG: Financial Overview (2019)
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