Publish Time: 2020-09-14 Origin: Site
According to the market report recently released by Indian market research company Meticulous Research, the natural food coloring market will reach US$3.2 billion by 2027, with a compound annual growth rate of 8.4% during the forecast period (2019-2027). By type, the natural food coloring market is mainly subdivided into carmine, anthocyanins, caramel, carmine, carotenoids, chlorophyll, spirulina, turmeric, sugar beet, etc.
As people continue to understand the concept of a big healthy life, turmeric has become one of the trends in the development of the big healthy market. The market for turmeric-related dietary supplements, food and beverage products is currently continuing to grow. According to relevant data, as of March 24, 2019, the United States has launched products with turmeric as its main functional ingredient, which has increased by 13%. The multi-channel market for specialty foods containing turmeric has also seen a significant increase, and the annual growth of each channel is basically around 20%. At the same time, data shows that, driven by functional instant beverages, sales of functional foods and beverages containing turmeric have seen double-digit growth.
According to retail data provided by market research companies SPIN and IRI, turmeric had the largest increase in sales in mainstream retail channels in 2017, an increase of 46.7% year-on-year. Consumers’ total spending on turmeric supplements in mainstream retail stores was US$32,456,933, an increase of approximately US$10.3 million over the previous year. By 2019, the total global curcumin market has reached 1.2 billion yuan and is expected to grow to 2.4 billion yuan in 2026 , The compound annual growth rate (CAGR) is expected to reach about 10.7%.