Packaged Turmeric-Based Beverage: Market Outlook

Turmeric is a yellow-orange colored spice, commonly found in Indian, South Asian, and the Middle East regions. Turmeric has a warm and bitter taste that is used frequently as a coloring agent widely used for making curries. It is often called Indian Saffron or the Golden Spice. Turmeric is now becoming is gaining its popularity for its anti-inflammatory, anti-oxidant properties to treat Arthritis, Alzheimer’s disease and due to its bio-active compounds that holds powerful medicinal properties.

Turmeric can be included in the diet through curries and different beverages. Out of the two, beverages is the most convenient way to include turmeric in the daily diet owing to the fact that they are easy to consume. Increasing demand for healthy and nutritious beverages and evolving beverage industry is opening avenues for turmeric-based beverages in foreseeable future. Innovations are being made by certain manufacturers who are making it easier to consume turmeric in our diet by introducing novel products, like turmeric tea, latte, juice and many more.

Consumers are preferring to buy packaged turmeric-based beverage as it is easy to consume, and also acts as on-the-go snack for the health conscious consumers.

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Emerging Potential of Turmeric-Based Beverage in the Market

In the global beverages market, product innovation is continuous process which evolved the beverages market over the decades. The beverage industry has evolved and moved past soft drinks and has evolved to large varieties of beverages with different health benefiting properties. Once such innovation is turmeric-based beverage.

The increasing flavor inspiration among the customers has also raised the demand for exciting flavors and more tasty beverages in the market, which has generated various new concepts in the beverage industry, such as functional beverages, and more recently turmeric-based beverage has also been launched in the beverages market. Turmeric-based beverage is gaining customer’s attention with their high nutritional value and exciting taste due to addition of more than one component in the beverages.

Consumers are reacting positively to the different blends and usage of turmeric in various beverages, as it is the most convenient and can also be consumed as a healthy on-the-go beverage.

Many medical affiliations have also approved the benefits and applications of turmeric that will increase the demand for the turmeric-based products in the market. North America and Europe are the potential markets that will witness a large demand for turmeric-based beverages benefits because of its health benefits.

The growing influence of veganism is impacting the market of turmeric-based beverage positively. This is encouraging a considerate share of consumers to choose a different form of vegan turmeric beverages like juices, elixirs, etc. Different products of the range of turmeric-based beverages are influencing the growth rate to reach double-digit over the forecasted period.

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Packaged Turmeric-Based Beverage: Market Segmentation

Based on Distribution Channel, Packaged Turmeric-Based Beverage Market can be segmented as:

  • Store-based Retailing
    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Health and Wellness Stores
    • Independent Small Groceries
    • Specialty Stores
    • Others
  • Online stores
  • Others

Based on Type, Turmeric-Based Beverage Market can be segmented as:

  • Turmeric Teas
  • Turmeric Lattes
  • Turmeric-based Juices
  • Sparkling Water
  • Turmeric Detox Water

Based on Nature, Turmeric-Based Beverage Market can be segmented as:

  • Organic
  • Conventional

Based on Packaging, Turmeric-Based Beverage Market can be segmented as:

  • Plastic bottles
  • Tin Can
  • Tetra Packs
  • Others

Key Players in Turmeric-Based Beverage Market

Dunn's River Brands, Unilever, Gaia Herbs, House Foods Group, Numi, Just-C, Traditional Medicinals Inc., Diaspora Tea & Herb Company LLC, R C Bigelow Inc, Buddha Teas, Heleys and Rishi Tea are some of the prime players in the market of Packaged Turmeric-Based Beverage.

Growing Interest of Investors in Turmeric-Based Beverage Market

Modern day consumers are acknowledging the benefits and usage of turmeric and its products, manufacturers are developing a range of turmeric-based products. In ancient times turmeric milk was the most prevalent product, but now manufacturers are innovating to develop novel products to attract more consumers.

North America and Europe are considered as the market that has the potential of witnessing growth at a considerate rate as a turmeric-based beverage is a novel in the domestic market. The western world is yet to discover more beneficial properties of turmeric and with more knowledge, demand is set to increase owing to the medicinal gains to the population.

Several medical bodies and organization have identified the potential of these beverages and thus approved them to be produced for the masses. With this approval, many investors are looking forward to capitalizing on the domain for commercial production of packaged turmeric-based beverages in the market. With commercial production of the beverages, the manufacturers are also focusing on novel innovation for packaging. Therefore, they are also encouraged to acquire reliable labels to establish a quality standard for the product.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Packaged Turmericbased Beverage Market

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