LONDON--(BUSINESS WIRE)--The packaged turmeric-based beverages market is expected to post a CAGR of nearly 21% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the health benefits of turmeric. Turmeric-based beverages are primarily consumed due to their impact on inflammatory diseases. Some of the health benefits associated with turmeric are easing arthritis-induced inflammation and swelling, it also reduces synaptic marker loss and the accumulation of amyloids linked to the development of Alzheimer’s. Turmeric also helps in cancer prevention. Thus, with such benefits, the packaged turmeric-based market is expected to grow steadily during the forecast period.
This market research report on the packaged turmeric-based beverages market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing influence of veganism as one of the key emerging trends in the global packaged turmeric-based beverages market:
Global packaged turmeric-based beverages market: growing influence of veganism
With consumers preferences shifting from the consumption of meat-based food products to vegan food products, increasing number of consumers are adopting vegan diets owing to the health benefits associated with the consumption of vegan and plant-based foods. Veganism has transformed into a lifestyle choice which is expected to have a positive impact on the adoption and purchase of turmeric-based beverages such as golden milk, juices, elixirs, and teas.
“The increasing number of innovative product launches had been boosting the market since the last decade. The rise in demand for turmeric-based food and beverages in various countries is leading vendors to continually launch innovative products and support veganism” says a senior analyst at Technavio for research on non-alcoholic beverages.
Global packaged turmeric-based beverages: Segmentation analysis
This market research report segments the global packaged turmeric-based beverages market by application (health and wellness and pharmaceutical) and geographical regions (APAC, EMEA, and the Americas).
In 2017, the APAC region dominated the market with a market share of more than 40%, followed by the Americas and EMEA respectively. Although the APAC region was dominating in the year 2017, the Americas is expected to see a significant increase in its revenue due to turmeric milk and turmeric teas experiencing high demand in the US, Mexico, Argentina, Canada, and Brazil. In fact, the market share of the Americas is expected to surpass that of APAC by 2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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