Global curcumin market was worth USD 58,199.4 million in 2020. It is projected to grow at a compound annual rate (CAGR), of 16.1% between 2020 and 2028. The inherent properties of curcumin, including its anti-cancer, antioxidant and anti-inflammatory qualities, have contributed to this growth. It is widely used in skin care applications such as the prevention of ringworms and eye infection, leech bites. Sore skin, bruising and swelling are all possible. This will drive the market's growth over the forecast period. Curcumin, a active ingredient in turmeric and ginger, is commonly extracted. Turmeric, which is known for its healing properties, is widely used in South East Asian countries as a food ingredient and in medical products.
The product demand will rise in other regions of the globe due to increasing awareness about the health benefits and rising medicinal value. The forecast period will see a shift in consumer trends as well as a rise in awareness about the health benefits of organic and natural ingredients used in food, cosmetics and medical applications.
The traditional therapeutic uses of curcumin are what drive its use in the pharmaceutical industry. Curcumin is both hydrophobic, lipophilic, and has been used extensively in the pharmaceutical industry. Diverse researches are underway to explore the possibility of using different nanoparticles (dendrimers, polymeric and nanogels) to deliver curcumin to treat cancer and other neurological disorders. It has been shown to have many health benefits, including the potential to prevent several diseases such as Alzheimer's and coronary heart disease.
The market was affected by the COVID-19 pandemic. The growing demand for curcumin to treat viral infections around the world is expected to continue to grow. This is in keeping with the expected exponential growth of the market over the forecast period. Curcumin is a natural ingredient that has been extensively researched for its antiviral qualities. It also has a variety of therapeutic properties such as anti-microbial and anti-inflammatory properties.
Due to increasing awareness about the product's medicinal properties and other health benefits, the U.S. has seen a significant increase in product demand in the last few years. It is also used in tissue Engineering. Companies are now investing more in research to expand its use in the pharmaceutical industry, mainly because it is non-toxic. These research findings are well known by consumers in developed countries, so high demand can be expected from countries like the U.S., Denmark and Germany.
With a revenue share greater than 51%, the pharmaceutical application segment led market in 2020. This segment is expected to grow at a faster CAGR of 5% between 2020 and 2028. Curcumin has been used for centuries in traditional Asian herbal remedies to relieve inflammation and infections. Over the forecast period, cosmetics applications will experience significant growth. Its anti-inflammatory, antioxidant, and anti-aging properties are the main reasons for its widespread use in cosmetic applications. The skin can become irritated by UV radiations.
These free radicals can also cause visible signs of photo-aging, including hyperpigmentation, wrinkles and loss in skin firmness. These effects can be reduced by using curcumin-infused products. Brand owners in the cosmetic and personal care verticals are increasingly incorporating it as an ingredient. The market will see increased awareness and consumer preference for organically-produced products. Due to wide product use as food additives, the food application segment will see the second highest CAGR of 16.0% during the forecast period.
The fastest CAGR in Europe is 16.7% over the forecast period. The well-established cosmetics and personal care industry in Western European countries like Spain, Germany, Italy, and Italy is a major driver of the market. Due to high demand for food and nutritional supplement, North America had the largest revenue share in 2020. North America is home to many premium cosmetic brands. These companies are more inclined to use organic ingredients in their products which in turn provides growth opportunities for the market.
Asia Pacific will see the second fastest CAGR during the forecast period. This is mainly due to the lower awareness of curcumin in the region. Brand owners have a unique opportunity to educate consumers and launch products that cater to regional demand. Regional market growth will also be driven by the rising demand for herbal and ayurvedic personal care products.
Global market is competitive and fragmented. Its main driver is its application in the nutraceuticals or cosmetics industries. The product is made from ginger and turmeric. Production plants must be located near the source of raw material to lower the cost and eliminate logistical strains. India accounts for 78% of global production of turmeric. More companies are focusing on setting up production facilities in India. In the next few years, the market will be strengthened by the favorable regulatory regimes as well as the supportive government policies. The following are some of the major players in the global curcumin industry:
Synthite Industries Ltd.
Hindustan Mint & Agro Products Pvt. Ltd.
Arjuna Natural Extracts Ltd.
Star Hi Herbs Pvt. Ltd.
Herboveda India Private Limited Ltd.
Helmigs Prima Sehejtera P.T.
Tri Rahardja PT/Javaplant
Konark Herbals & Healthcare
Rosun Natural Products Pvt. Ltd.
Up Market Research published a new report titled “Curcumin Market research report which is segmented by Application (Cosmetics, Pharmaceutical, Food), By Players/Companies WackerChemie AG, Arjuna Natural Extracts Ltd, BioMaxLifesciences Ltd, Synthite Industries Ltd, SV Agrofood, Tri Rahardja PT/Javaplant, Konark Herbals & Healthcare, Hindustan Mint & Agro Products Pvt Ltd, Rosun Natural Products Pvt Ltd, SabinsaCorp, Herboveda India Pvt Ltd, Star Hi Herbs Pvt Ltd, Helmigs Prima Sehejtera PT”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Curcumin Market Research Report|
|By Application||Cosmetics, Pharmaceutical, Food|
|By Companies||WackerChemie AG, Arjuna Natural Extracts Ltd, BioMaxLifesciences Ltd, Synthite Industries Ltd, SV Agrofood, Tri Rahardja PT/Javaplant, Konark Herbals & Healthcare, Hindustan Mint & Agro Products Pvt Ltd, Rosun Natural Products Pvt Ltd, SabinsaCorp, Herboveda India Pvt Ltd, Star Hi Herbs Pvt Ltd, Helmigs Prima Sehejtera PT|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||243|
|Number of Tables & Figures||171|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Cosmetics, Pharmaceutical, Food).
Curcumin Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Curcumin Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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