Global Tamarind Extract Market Size Likely to Surpass at a CAGR of 5.53% By 2033

As per the current market research conducted by CMI Market Research Team, the global Tamarind Extract Market size is expected to record a CAGR of 5.53% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 759.18 Million. By 2033, the valuation is anticipated to reach USD 1,232.33 Million.

Tamarind Extract Market: Growth Factors and Dynamics

• Rising Health Consciousness: The rise in health and wellness awareness among individuals is boosting the consumption of organic and functional components. For instance, tamarind seed extract boasts an impressive nutritional composition comprising antioxidants, vitamins, and fiber, among others. This makes it a suitable ingredient for healthy applications in foods, beverages, and diet supplementation.

• Rising Demand for Exotic Flavours: With the globalization and sophistication of cuisines, there is a trend for consumers to want an enhancement in their meals with interesting exotic tastes. Tamarind extract is deliciously sweet and sour, which makes it embraced in cuisines of different regions, countries even tum fusion cooking which is part of the reason the demand is growing.

• Expansion into Foods and Beverages Applications: The uses of tamarind extract are found in many forms of food and non-alcoholic beverage applications for example sauces, marinades, beverages and desserts among others. This is also increasing demand as producers are looking to use tamarind in order to develop exciting, palatable products for the range of consumers available within the market.

• Growth of Organic and Natural Products: The fact that consumers are increasingly inclined towards products with organic health benefits is positively impacting tamarind extract market. This is due to the fact that such consumers look for ingredients that do not have any synthetic content, causing even suppliers of the extract to look for its organic form and provide it to the appeased clients.

• Development of Nutraceutical Products: The growing demand for health supplements and nutraceuticals is helping new markets for tamarind extract open, in part due to its myriad potential health benefits which include digestive aid and anti-inflammatory properties. It is no wonder that this ingredient is being added to dietary supplements for those who wish to enjoy natural products and find relief in them.

• Innovation in Extraction Techniques: The modernization of extraction processes has made the production of tamarind extract cheaper and easier for the producers. Due to advanced techniques of extraction, more bioactive compounds can be preserved in an extract, thus widening the scope of the extract for food, cosmetic, and pharmaceutical industries.

• Rise of Online Platforms: E-business dynamics offer more opportunities for both retail and wholesale purchases of tamarind powder, and other products. A larger geographical area can be covered by the suppliers who engage in online management system, thus eliminating tamarind product sales limitations.

• Increased Focus on Sustainable Practices: With the growing awareness of environmental concerns among the consumers, growing is also the requirement for ingredients that are sustainably sourced. Tamarind extract is one of these ingredients, being commercially available from agricultural practices with low Environmental impact. When companies adopt a sustainable sourcing of raw materials coupled with sustainable production processes, they can target the environmentally responsible consumers better thereby widening their market base.

Tamarind Extract Market: Partnership and Acquisitions

• In 2024, Virchow Group and Symrise AG has entered into joint venture by the name of Vizag Care Ingredients Private Limited for the manufacturing of the personal care ingredients. The new company mixes Symrise’s leading beauty ingredients along with the Virchow’s expertise in the synthetic pharmaceuticals for enhancing its market presence.

• In 2023, Amyris and Givaudan has entered into partnership in which Givaudan’s cosmetics will get ingredients along with innovation capabilities from Amyris. Givaudan will be responsible for the commercialization of the future sustainable beauty ingredients for the enhancement of their collaboration.

Report Scope

Tamarind Extract Market: COVID-19 Analysis

The market for tamarind extract was affected negatively by the COVID-19 pandemic as a result of breaking supply chains as well as changes in demand in different levels. In addition to that, the nationwide lockdown caused the governments of different countries to order the temporary shutdown of all manufacturing activities thus affecting the production of tamarind extract.

In addition, the foodservice sector which is one of the major consumers of the tamarind in sauces and traditional dishes was hit hard where many hotels and restaurants were operating at half capacity or instead shut down. Consequently, there was a reduction in the bulk supply of tamarind extract to food producing companies.

In addition, transport and shipping in general posed some challenges in the distribution of tamarind products thus resulting to delays and high costs. There was also an alteration in consumer psychology as other non-food consumables were ignored and more accentuated on the provision of goods of primary importance leading also to the isolation of goods such as the extraction of tamarind.

Therefore, the net growth rate of the concerned market was declined, and the sensitivity of the tamarind extract supply chains towards the global calamities was aggravated.

List of the prominent players in the Tamarind Extract Market:

• Organic Herb Inc.
• Symrise AG
• Shaanxi Jiahe Phytochem Co. Ltd.
• Givaudan SA
• The Green Labs LLC
• Tamarind Extracts Pvt. Ltd.
• Mackenzie Chemical Ltd.
• Herbal Hills
• Kerry Group plc
• Bio Botanica Inc.
• BASF SE
• Xian TCM Pharmaceutical Co. Ltd.
• Natural Remedies Pvt. Ltd.
• Frutarom Industries Ltd.
• du Pont de Nemours and Company (DuPont)
• Others

The Tamarind Extract Market is segmented as follows:

By Form

• Powder
• Liquid
• Paste

By Application

• Beauty & Personal Care
• Pharmaceuticals
• Food & Beverages
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Online Retail
• Specialty Stores
• Direct Sales

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America