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.
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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.
- Medicinal
- Ayurvedic
- Skin related
- Food and paste related
- Beauty
- Religious
- Traditional
- 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
- Raising propagules
- Preparation of land
- Irrigation process
- Pest control
- Crop harvesting
- Post harvesting
- Certificate from SBI (spices board India)
- GST registration
- Trade license
- Rhizomes
- Soil with PH 6-6.5
- Trichoderma for seed treatment
- Cow dung
- Water
- Manure and chemical fertilisers
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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 business 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.
The area required to set up a black turmeric business is
- Wide scale Cultivation basis – 1 acre
- Small scale- ½ acre
The machinery and equipments required to set up this black turmeric business is
- Fertiliser spraying machine
- Harvesting tools
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 growthBlog-Loan-Popup
The business model of this black turmeric business can be defined using these four variants
The value proposition which this business is likely to provide to you is
- Because of its scarce availability
- Wide consumer niche
- Ayurvedic facilities
- Medical facilities
- Dermatologist
- Nutritionist
- Retail grocery and kirana stores
- Online grocery stores
- Bharat herbs
- Astro hubs
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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.
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.
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