BANGKOK, Thailand – The Ministry of Agriculture and Cooperatives, the Ministry of Commerce, and other relevant agencies are driving initiatives to boost the agricultural sector. The latest effort is by integrating herbal product entrepreneurs and enhancing the export potential of Thai turmeric-based beauty and wellness products.
Turmeric, is a highly valued medicinal herb known for its skincare benefits, such as anti- inflammatory and anti-bacterial properties. In 2024, the global turmeric market was valued at approximately THB7.98 billion (USD242 million), with Thailand holding a 5.6% share. The market is expected to grow, exceeding THB10 billion (USD295 million) globally by 2027, while Thailand’s turmeric market is expected to reach THB550 million (USD16 million), growing at an average annual rate of 11.4%.
Currently, Thailand has 2.06% registered cosmetic products containing turmeric; this indicates significant growth potential for turmeric-based products. Recognizing this opportunity, the Government has designated turmeric as one of the 15 “Herbal Champions.” Efforts are being made to enhance turmeric’s potential as a globally recognized herbal product by developing diverse formulations that meet international standards, ensuring its long-term market value. (PRD)
