Vietnam Curcumin Market- Trend Analysis & Forecasts

The Vietnam curcumin market is gaining momentum amid growing global demand for natural health products and nutraceuticals. Valued at approximately USD ** million in 2024, the market is expected to expand at a CAGR of 9.1% through 2032, driven by rising exports, increasing domestic applications in food and pharmaceuticals, and government-backed agricultural diversification. Vietnam’s strength as a turmeric-producing nation, coupled with cost-effective extraction capabilities, places it in a strategic position within the global curcumin supply chain. As innovation, investment, and global interest intensify, Vietnam is poised to become a key player in the international curcumin market landscape.

Market/ Product Overview

Curcumin, the bioactive component of turmeric (Curcuma longa), has gained global prominence due to its proven antioxidant, anti-inflammatory, and anticancer properties. Vietnam, with its tropical climate and vast agricultural resources, is emerging as a significant contributor to curcumin production in Southeast Asia. The country’s turmeric cultivation, primarily located in provinces such as Gia Lai, Dak Lak, and Nghe An, supports a steadily growing curcumin extraction industry. As of 2024, Vietnam produces over ** thousand tonnes of turmeric annually, a portion of which is processed into curcumin for domestic and export use.

Vietnam’s curcumin market was valued at approximately USD ** million in 2024, and it is projected to reach nearly USD ** million by 2032. This growth is underpinned by increasing applications in nutraceuticals, functional foods, cosmetics, and pharmaceuticals. With rising health awareness post-pandemic and a shift towards natural therapeutics, Vietnamese curcumin products are witnessing enhanced demand, particularly in high-value markets such as the U.S., South Korea, Germany, and Japan.

Government initiatives promoting medicinal plant development and value-added processing are also encouraging small and mid-sized enterprises to invest in curcumin extraction technologies. Additionally, Vietnamese producers benefit from relatively low production costs compared to Indian counterparts, further enhancing competitiveness.

Significance of Vietnam in Global Curcumin Supply Chain

Vietnam is increasingly recognized as a rising player in the global curcumin supply chain, traditionally dominated by India, which contributes over 80% of global curcumin exports. While Vietnam’s curcumin export share is still modest at around **% in 2023, it is steadily climbing due to strategic advantages. The country’s curcumin extraction facilities—located near turmeric cultivation zones—optimize the value chain, reducing post-harvest losses and logistical costs.

Vietnamese curcumin has gained traction in international markets due to its high curcuminoid content (ranging between 90–95% in extract form) and compliance with global quality standards. Manufacturers such as Vietlife, Hanfimex, and Nagaileben Biotech have invested in supercritical CO₂ extraction and nano-curcumin technologies, enhancing the product's purity and bioavailability. In 2023 alone, Vietnam exported over ** tonnes of curcumin extract to Japan, South Korea, and the European Union, indicating its growing footprint.

Vietnam also benefits from bilateral trade agreements such as EVFTA and RCEP, which facilitate reduced tariffs and improve market access, especially in Europe and Asia-Pacific. This strategic positioning allows Vietnam to serve as a reliable secondary supply source amid global supply disruptions or price volatility in other major producing nations.

Vietnam Curcumin Supply & Demand Trend

Vietnam's curcumin market is underpinned by a robust domestic turmeric supply, with an estimated ** thousand tonnes of raw turmeric root produced in 2024. Approximately **% of this volume is used for curcumin extraction, yielding around ** thousand tonnes of curcumin annually, considering an average yield of **% from fresh turmeric.

Demand for curcumin in Vietnam is driven both domestically and internationally. Domestically, curcumin finds applications in health supplements, traditional medicine, skincare, and food coloring. The nutraceutical segment alone accounted for **% of domestic curcumin consumption in 2024. On the export front, Vietnamese curcumin shipments surged by **% YoY in 2023, reaching a trade value of USD ** million.

Export demand is especially strong from Japan, where curcumin-based supplements are witnessing annual growth exceeding **%, and Germany, where curcumin is integrated into functional foods and beverages. Furthermore, South Korean demand for Vietnamese nano-curcumin has grown rapidly, especially in skincare and health drink formulations.

With projected growth in turmeric cultivation and processing capacity, Vietnam’s curcumin supply is expected to surpass ** thousand tonnes by 2032, while domestic and export demand could push utilization rates above **%, indicating a tight but manageable balance in the coming years.

Market Growth Factors

A primary growth driver in the Vietnam curcumin market is the escalating global demand for plant-based nutraceuticals. The global curcumin market is projected to reach USD ** million by 2032, creating ample export opportunities for Vietnamese suppliers. Vietnam’s ability to offer competitive pricing, typically **–**% lower than Indian suppliers, enhances its appeal in cost-sensitive markets.

Health awareness in Vietnam is also on the rise and curcumin is increasingly integrated into wellness drinks, functional snacks, and cosmeceuticals.

The government’s support through programs like the National Medicinal Plant Development Plan and the "One Commune One Product" (OCOP) scheme has provided both technical and financial backing to curcumin processors. These initiatives have led to a **% increase in small-scale curcumin processing units between 2020 and 2023.

Lastly, technological innovation is accelerating market growth. Vietnamese firms are investing in nano-curcumin, which boasts 5x better bioavailability. For instance, Hanfimex reported a **% sales jump in its nano-curcumin product line in 2023, fueled by exports to South Korea and domestic wellness stores.

Market Restraints & Challenges

Despite its growth potential, the Vietnam curcumin market faces several challenges. A major constraint is the relatively small-scale nature of turmeric farming, which limits economies of scale. Average turmeric farm sizes in Vietnam are below 1 hectare, affecting consistent raw material availability. In 2023, around **% of processors reported seasonal shortages during the offseason.

Quality standardization is another concern. Although several exporters comply with global standards, a fragmented supply chain and inconsistent post-harvest handling lead to variability in curcumin quality. Contamination or adulteration issues—reported in **% of shipments in 2022—pose risks to brand reputation and export viability.

Export competitiveness is also threatened by India’s deep-rooted dominance in the curcumin trade and its extensive R&D infrastructure. Moreover, lack of awareness among rural turmeric growers about high-curcumin varieties reduces Vietnam’s yield potential. Despite some success stories, widespread adoption of high-yield turmeric remains limited due to inadequate extension services.

Finally, logistics and cold storage infrastructure remain underdeveloped in interior regions, particularly the Central Highlands. These gaps can inflate costs and reduce product shelf life, especially for heat-sensitive derivatives like nano-curcumin.

Vietnam Curcumin Market Segmentation

The Vietnam curcumin market can be segmented by form, application, and distribution channel.

By Form, the market comprises standard curcumin powder, curcumin extract (95% purity), and nano-curcumin. Standard powder accounted for over **% of the market in 2024 due to lower costs and widespread use in traditional medicine. However, nano-curcumin is gaining rapid traction, expected to grow at a CAGR of **% through 2032 due to its superior bioavailability. By 2032, nano-curcumin could represent **% of total market value.

By Application, nutraceuticals dominate, accounting for **% of the market in 2024. Demand for turmeric capsules, curcumin tablets, and functional beverages continues to grow, both domestically and through exports. The cosmetic industry, particularly skin brightening creams and anti-aging serums, comprises **% of curcumin applications. Food and beverage uses, including natural colorants in sauces, beverages, and confectionery, account for **%.

By Distribution Channel, B2B dominates the landscape. Over **% of curcumin sales in 2024 were to overseas buyers, supplement manufacturers, and pharmaceutical firms. The remaining share is divided between modern trade (supermarkets and pharmacies) and e-commerce platforms like Tiki, Shopee, and Lazada, which have fueled direct-to-consumer nano-curcumin sales. Notably, e-commerce sales of curcumin-based supplements grew **% in 2023 YoY.

As end-user industries diversify and Vietnam strengthens its domestic retail infrastructure, the market is expected to become more balanced between B2B exports and B2C domestic consumption by 2032.

Vietnam Curcumin Trade (Export & Import) Trend

Vietnam’s curcumin trade has shown consistent growth, with exports rising from USD ** million in 2020 to USD ** million in 2023, registering a CAGR of **%. The top export destinations in 2023 were Japan (USD ** million), South Korea (USD ** million), Germany (USD ** million), and the United States (USD ** million).

Tariff advantages under bilateral agreements such as the EVFTA (EU-Vietnam Free Trade Agreement) and CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) have lowered duties on curcumin and turmeric extracts, enhancing Vietnam’s competitiveness. Under EVFTA, curcumin products now enter the EU at zero duty, leading to a **% YoY increase in shipments to Europe in 2023.

On the import front, Vietnam sources limited quantities of high-purity curcumin or processing equipment from India and China. These imports were valued at less than USD ** million in 2023, indicating Vietnam’s growing self-sufficiency.

Trade barriers remain low, but non-tariff challenges such as SPS (Sanitary and Phytosanitary) regulations from the EU and the U.S. require strict compliance. In 2022, **% of Vietnamese curcumin shipments to the EU were delayed due to documentation or testing issues.

Influence of Vietnam in Global Curcumin Price

Vietnamese curcumin prices have remained relatively stable over the past five years, averaging USD **–**/kg for 95% extract and USD **–**/kg for nano-curcumin in 2024. In comparison, Indian prices ranged 8–12% higher during the same period due to higher labor and processing costs.

In 2021, prices dipped **% due to oversupply and COVID-19-related demand slowdowns. However, from 2022 onwards, curcumin prices in Vietnam have shown a gradual upward trend due to increased global demand and currency fluctuations. Export prices rose **% in 2023, and further appreciation is expected in 2025 due to supply tightness and rising demand in the EU.

Domestically, wholesale prices of turmeric roots have also increased from USD **/kg in 2020 to USD **/kg in 2024, impacting curcumin cost structures. Nano-curcumin, due to its complex production process, commands premium pricing but offers higher profit margins (up to 40%).

Going forward, while short-term fluctuations may occur due to climate-related supply disruptions, the long-term price trend remains positive, especially for high-purity and value-added derivatives.

Vietnam Curcumin Market Competitive Analysis

The Vietnam curcumin market is moderately fragmented, with a mix of small-scale processors and a few mid-to-large-scale manufacturers leading the innovation and export landscape. Hanfimex Group, Vietlife, and Nagaileben Biotech are among the top players, collectively accounting for over **% of the market share in 2024.

Hanfimex, for instance, expanded its nano-curcumin production line in 2023 with a capacity of ** tons/year, aiming to cater to Japanese and South Korean buyers. Vietlife launched a new functional beverage series incorporating nano-curcumin in 2023, registering a **% rise in quarterly sales.

Other notable players include GNC Vietnam and Tien Thinh Group, which have invested in extraction facilities using ethanol and CO₂ technologies. Companies like Tan Hung and Sao Thai Duong have built strong B2C brands with presence across pharmacies and e-commerce.

Local competition is intensifying, but barriers to entry exist in the form of capital costs for extraction units, quality certification (GMP, HACCP), and international regulatory compliance. Players who invest in branding, traceability, and R&D are better positioned to thrive in both domestic and export markets.

List of Key Companies in Vietnam Curcumin Market,

■ Hanfimex Group
■ Vietlife
■ Nagaileben Biotech
■ Tien Thinh Group
■ GNC Vietnam
■ Sao Thai Duong
■ Tan Hung Agriculture
■ Vinamas Herbal
■ BioTrade Vietnam
■ Phyto Pharma
■ Traphaco
■ HAPLAST
■ Vietnam Natural Products Co.
■ Truong Sinh Group
■ Mediplantex

Future Outlook

Vietnam’s curcumin market is projected to grow from USD ** million in 2024 to USD ** million by 2032, driven by strong global and domestic demand, improved production efficiency, and innovation in high-bioavailability formats like nano-curcumin.

Export volumes are expected to double by 2032, while domestic consumption will rise due to increasing awareness and product diversification. Improved farmer training, government support, and private-sector R&D will support raw material expansion and supply stability.

Overall, Vietnam is well-positioned to emerge as a significant curcumin hub in Asia. However, achieving this potential will require continued investment in quality control, global certifications, supply chain integration, and market outreach strategies.