How To Start Black Turmeric Business | SkillsAndTech

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

I. 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

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· 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

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· 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

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· Post harvesting

II. Licenses required

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

· Certificate from SBI (spices board India)

· GST registration

· Trade license

III. Investment required

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

IV. Profits made

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

V. 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

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· 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

VI. Area required

The area required to set up a black turmeric business is

· Wide scale Cultivation basis – 1 acre

· Small scale- ½ acre

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VII. 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

VIII. Machinery required

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

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· Fertiliser spraying machine

· Harvesting tools

IX. 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

X. Business model and growth

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

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

· Because of its scarce availability

· Wide consumer niche

ii. Target consumers: The target consumers for this business are

· Ayurvedic facilities

· Medical facilities

· Dermatologist

· Nutritionist

· Retail grocery and kirana stores

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· Online grocery stores

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

· Bharat herbs

· Astro hubs

iv. 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

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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

XI. Profits margin

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

XII. Suggestions

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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