How to Start Black turmeric business – Investment, Requirements | StartupYo

Black turmeric business

Overview

There are all sorts of traditional herbs and plants whose properties and nature has bought some good business to many companies belonging to the healthy and beauty industry.

Then there are those traditional herbs which are now at the verge of extinction because of their scarcity and differences in soil and climatic conditions for them to grow, Black turmeric

Yes, milk with that colour wouldn’t have looked ideal or even preferred but the benefits it comes with could open one big market for it because of its properties to assist the Ayurvedic, beauty and healthcare industry

As of 2016, Black turmeric has been listed as an endangered species by the Indian agricultural department, says sources.

Black turmeric resembles ginger a lot than it resembles the yellow turmeric. The climatic conditions unavailable today for the parts of this black Turmeric like rhizome, leaves and the flower, curcuma Caesia, to grow has made it a scarce commodity

This now gives you more than just any reasons to get started with this black turmeric business

Market potential and uses

Black turmeric, is the underground portion of the stem, rhizome of its plant curcuma Caesia. This plant has been originated in the north eastern and central parts of India, specifically in the state of Madhya Pradesh

Key facts about black turmeric as as follows

Colour : Blueish black
Shape : 2-6 cm in diameter
Flesh colour : Blueish white
Taste : Bitter, pungent, hot and earthy taste

The market potential for black turmeric is quite vast and enlarging because of its natural and organic healing properties, application in health care, Ayurvedic medical care as well as the nutrition and beauty industry.

Further, the market potential for this business can be defined and elaborated on the following basis

On the basis of type of use of black turmeric

Medicinal
Ayurvedic
Skin related
Food and paste related
Beauty
Religious
Traditional

Uses of black turmeric

Used in to heal toothache and migraine as a black turmeric paste
Used in treating lung illness
Used as a paste for treating leucoderma
Used as a pain reliever
As an aid in treating cancer
Helps in loosing weight and regulating blood sugar
Used in boosting the stamina
Used as a part of many religious rituals

Process of cultivation of black turmeric

Raising propagules
Preparation of land
Irrigation process
Pest control
Crop harvesting
Post harvesting

Licenses required

The licenses required to start up a black turmeric cultivation business is

Certificate from SBI (spices board India)
GST registration
Trade license

Investment required

The investment required to set up a black turmeric business for 1-acre cultivation is ₹50000

Profits made

The profits which one can earn from this black turmeric busines for 1 acre cultivation is ₹60000 per year

Target consumers

The target consumers for this business would be

Medical sectors: The medical sector makes use of black turmeric business as an infusion in various modern medicines to treat lung illness, cancer, in pain relievers etc

Dermatologist industry: The dermatologists and the skin specialist involved in making ointments, pills, oils etc for treating skin ailments also make use of black turmeric because of its healing properties

Food industry: The food processing industry makes use of black turmeric as a part of certain snacks, meals etc for people with certain diet restrictions to control their weight and blood pressure

Beauty industry: The beauty industry makes use of black turmeric as an element in ointment, masks, face washes creams etc because of its nature and properties to reduce inflammation on the skin

Retail grocery and kirana stores: These tend to stock up on dried form of black turmeric for the purpose of catering the traditional demand for it from consumers who use it in a paste format to cure headaches and toothaches

Religious places: These make use of black turmeric powder as a peer of performing certain religious rituals etc

Area required

The area required to set up a black turmeric business is

Wide scale Cultivation basis – 1 acre
Small scale- ½ acre

Raw materials required

The raw materials required to set up this business is

Rhizomes
Soil with PH 6-6.5
Trichoderma for seed treatment
Cow dung
Water
Manure and chemical fertilisers

Also read :

Machinery required

The machinery and equipments required to set up this black turmeric business is

Fertiliser spraying machine
Harvesting tools

Manpower required

The manpower required to set up this business is

2-skilled workers
5-unskilled workers

Moreover, ample training in terms of the following must also be provided with

Equipment usage
Safety and precautions

Business model and growth

The business model of this black turmeric business can be defined using these four variants

Value proposition: The value proposition which this business is likely to provide to you is

Because of its scarce availability
Wide consumer niche

Target consumers: The target consumers for this business are

Ayurvedic facilities
Medical facilities
Dermatologist
Nutritionist
Retail grocery and kirana stores
Online grocery stores

Competitor review: The competitors to you in this business are as follows

Bharat herbs
Astro hubs

Marketing strategy: The marketing strategy that can be implemented by your business is

Sponsored promotion on online grocery stores
Presence in blogs and articles justifying the purity of the black turmeric manufactured by your company
Sales promotion: bulk and cash discounts

Growth

The black turmeric business has witnessed and has the potential for following growth prospects

The growth in global natural cosmetic products is expected to increase by a CAGR of 5.01% from 2019-2025
Secondly, the health benefits of black turmeric in India where people adhere to tradition ailing methods has been consistent

Profits margin

The profit margin you’re likely to yield from this business is

Suggestions

If you are having second thoughts of whether or not to take up this business we’ve got a closure for you

Firstly, because of scarcity of this product it is desired more than ever from the health care and the beauty industry shifting towards a natural infusion of organic products in their final products
Secondly, because it is originated in India the soil and climate conditions are in sync with you for undertaking an easy production process
Lastly, you’ll also witness a global demand because of its scarecrow and limited availability