LONDON
Technavio, a tech-focused research firm, has published a new report on the turmeric market in India which is expected to grow at a CAGR of more than 1% from 2015-2019.
According to the latest report by Technavio, turmeric has been known for its ayurvedic therapeutic essence, on both national and international levels. It has been granted generally recognized as safe (GRAS) status by the United States food and drug administration (USFDA).
“Curcumin, which is an ingredient found in turmeric, is regarded as a very useful catalyst in the prevention of many prolonged diseases like cancer, inflammation, liver problems, and type II diabetes. These medicinal benefits of turmeric increase the consumer base and further drive market growth,” says Faisal Ghaus, Vice President of Technavio.
The new report by Technavio also highlights the growing demand for turmeric from many foreign countries, which is driven by the growing use of this product.
“Countries such as the US, the UAE, Iran, Malaysia, and Japan are the leading importers of Indian turmeric, whereas France, Germany, and the UK are considered to be emerging markets. This increase will lead to larger amounts of revenue flowing into the country, thus improving its economy,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
About Technavio
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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