Turmeric Oleoresin, otherwise called Indian Gooseberry, is one of the curcumin powder used for the purpose of food and medicinal applications. Turmeric oleoresin has been proven to have various health benefits including being able to promote the immune system. In addition, the natural compound is also known to have antioxidant properties that help in the protection of the body from free radicals that can lead to cellular damage, cell mutation, lipid peridoxation, and cancer formation. In fact, researchers have even found out that this compound has cytotoxic activity towards human leukemia cells. Turmeric Oleoresin has been widely used as a food and medicine additive in India and other Asian countries where it is widely used for many medicinal purposes.
Increasing demand for natural food coloring agents is expected to drive growth of the global turmeric oleoresin market. Turmeric oleoresin is widely used in the baking industry as a flavoring and coloring agent due to its intense coloring properties. Consumers are increasingly demanding organic products with the inclusion of natural ingredients such as additives and food colorings. Key players in the market are focused on research and development activities, in order to launch novel products and cater to rising demand. For instance, in September 2019, Diana Food launched a new line of organic colors for food and beverages in Europe with EU compliance certification. Furthermore, in June 2020, DIC Lifetec Co. Ltd., a subsidiary of DIC Corporation, launched a liquid version of its Lineblue, a naturally-derived blue food coloring. Hence, such factors are expected to drive growth of the global turmeric oleoresin market. Furthermore, rising usage of oleoresin in dry mixes and margarine is expected to propel the global turmeric oleoresin market growth in the near future.
However, a stringent regulatory framework imposed by governing authorities is expected to hamper the global turmeric oleoresin market. Among regions, Europe is expected to witness significant growth in the global turmeric oleoresin market. This is owing to increasing demand for ethnic cuisines such as Mexican, Indian, and Thai in the region. Furthermore, Asia Pacific is expected to register a robust growth rate, owing to the presence of the largest food and beverage industries across the region.
Key companies involved in the global turmeric oleoresin market are Nikita Extracts, Ozone Naturals, Ungerer & Company, Indo-World, Kancor Ingredients Limited, DDW The Color House, Asian Oleoresin Company, Synthite Industries Ltd, Vidya Herbs Pvt. Ltd., Givaudan, and Naturite Agro Products Ltd.
For instance, in November 2019, Givaudan, a Swiss manufacturer of flavors and fragrances, acquired Ungerer & Company, a U.S.-based flavors company.
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