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NEW YORK , Sept. 19, 2022 /PRNewswire/ -- The "Packaged Turmeric-based Beverages Market by Application and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
The potential growth difference for the packaged turmeric-based beverages market between 2021 and 2026 is USD 446.08 million. The growth momentum is expected to accelerate at a CAGR of 11.75% during the forecast period. The report considers various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download Sample PDF Report Here to get an idea of the overall scope of the full report.
The health benefits of turmeric and the increase in demand due to organized retailing are some of the key market drivers. Turmeric has more than 300 bioactive antioxidant compounds, making it ideal for use in several inflammation diseases. Consumption of turmeric reduces arthritis-induced inflammation and swelling. Also, curcumin, one of the active compounds in turmeric drinks, helps in reducing pain in people with osteoarthritis. Moreover, the consumption of turmeric-based beverages such as turmeric tea contributes to cancer prevention, helps maintain ulcerative colitis (UC) remission, manages cholesterol levels, and reduces the risk of developing serious conditions like stroke and heart conditions. Many such health benefits are increasing the consumption of turmeric-based food and beverage products, which is driving the growth of the market.
However, an increase in demand for substitute products might challenge the growth of market players. Learn about other key drivers, trends, and challenges impacting the growth of the market. Buy Full Report Here
The packaged turmeric-based beverages market report is segmented by application (health and wellness and pharmaceutical) and geography (APAC, North America , Europe , South America , and the Middle East and Africa ).
By application, the market will observe significant growth in the health and wellness segment. The segment includes products such as turmeric latte, turmeric smoothies, golden milk, turmeric-based juices, turmeric teas, and sparkling water. The rising demand and popularity of products like turmeric latte and turmeric teas in regions such as North America and Western Europe are driving the growth of the segment. Also, a rise in the number of organized retailing outlets offering turmeric-based beverages, growing awareness of the health benefits of turmeric-based beverages, an increase in the number of product launches featuring turmeric as a key ingredient, and expanding millennial population base are contributing to the growth of the segment.
APAC will be the leading region, occupying 40% of the market share through the forecast period. The growing awareness of the health benefits of turmeric, increase in the number of organized retail outlets offering turmeric-based food and beverages and rise in the number of product launches featuring turmeric are driving the growth of the regional market. China , Japan , and India are the key markets for packaged turmeric-based beverages in APAC. Market growth in this region will be slower than the growth of the market in North America and Europe .
Packaged Turmeric-based Beverages Market Scope
Accelerate at a CAGR of 11.75%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Japan, India, and Germany
Leading companies, competitive strategies, consumer engagement scope
Alvita Tea, Bigelow Tea Co., Buddha Teas, Diaspora Co., Gaia Herbs Inc., Gujarat Cooperative Milk Marketing Federation, House Foods Group Inc., Keliff's, Mother Dairy Fruit and Vegetable Pvt. Ltd., Numi Inc., ORGANIC INDIA Pvt. Ltd., Rishi Tea and Botanicals, Senso Foods Pvt Ltd., The Turmeric Co., Traditional Medicinals, Unilever PLC, Vahdam Teas Pvt. Ltd., and Yamang Bukid Healthy Products Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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