Turmeric, known as the "Golden Spice of India," has been used in food and medicine for centuries. Produced by the Curcuma genus of the Zingiberaceae family, turmeric is valued in the pharmaceutical industry. India is home to about 53 Curcuma species, with Curcuma longa being the most widely cultivated, especially in Maharashtra, West Bengal, Uttar Pradesh, Kerala, Karnataka, Tamil Nadu, and the North Eastern states. Curcuma is notable for producing curcuminoids—curcumin, demethoxycurcumin, and bisdemethoxycurcumin—which have anti-inflammatory, antioxidant, anticancer, antimicrobial, and other health benefits. These compounds have been a research focus due to their potential in treating various diseases, including cancer. Despite their benefits, curcuminoids have limited bioavailability, prompting extensive research into enhancing their therapeutic use. Genetic studies and chemical analyses suggest that curcuminoid production follows a specific pattern. A novel polyketide from Oryza sativa has shown potential for one-pot curcuminoid synthesis through bioengineering. Research labs have successfully produced curcuminoids in vitro using bioengineered microbes. This review explores curcuminoid biosynthesis in Curcuma species via type III polyketides and CoA condensation, highlighting bioengineering efforts for large-scale curcuminoid production.