Toughcompetition and vast fragmentation encircle global curcumin market says the latest report byTransparency Market Research (TMR). Industries like food processing haveinvolved curcumin owing to its various functional properties. The market isdriven by major players like Biomax Life Sciences, Synthite Industries,Herboveda India, SV Agrofood, and Hindustan Mint and Agro Products. Theseplayers are building channels of small supply chains to take control of theglobal market. They are able to achieve this target as a result ofcollaborations of exporters and producers in various countries across theglobe. This allows both the entities to eliminate middleman resulting in thereduction of the cost and better profit.
Accordingto the latest report by TMR, global curcumin market is estimated to worth US$465.8 million by the end of 2026. It is noticeable that by the end of 2018, networth of the market was estimated at around US$ 282.2 million. This means themarket is expected to grow at least 6.5% in terms of CAGR from 2018 to2026.
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TMRreport presents an in-depth analysis of various segments of the global curcuminmarket. The market is segmented on the basis of nature, end-users, form, andapplication. Out of these segments, nature segment tends to show maximum growthin the forecast period. The segment is further bifurcated into organic andconventional curcumin. Amongst the two, Organic Curcumin is likely to show thehighest CAGR in the forecast period. This can be the result of relatively fewerside-effects on the users as compared to conventional curcumin.
The global curcuminmarket is fragmented across regions like North America, Europe, Asia Pacific,Middle East & Africa, and Latin America. TMR report estimates that NorthAmerica tends to show the highest growth among all regions around the globe.This hike is accounted to the increasing awareness of health benefits ofcurcumin. Also, the rising demand for natural products in various cosmetic andpersonal care in North America is also one of the major reason that is makingthis region grow at an exponential rate in the forecast period.
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Raisein Natural Product for Skincare Fueling the Global Curcumin Market
Inspiredby its presence in Ayurveda, curcumin plays a vital role in many beautyproducts. Ever since people have become more cautious about the ingredients andchemical present in their skin care products, they have shown more inclinationtowards products made by natural ingredients. Owing to this increasing demandof natural products in cosmetics and skin care products, the market of curcuminis growing across the world. Also, curcumin is one of the most prominentconstituents of major food dishes, and growing spurge of serving cuisines fromvarious countries in international hotels is also helping global curcuminmarket to grow exponentially.
GrowingDemand for Quality Products shall Help companies to Overcome the Challenge ofShort Supply
Theworld economy is getting stable day by day. This provides a better amount ofdisposable income for the people. As a result, people are focusing more onquality of the product they are using. This focus allows businesses toincorporate curcumin in their product globally. Although these companies tendto face some challenges in acquiring the curcumin as a result of short supply,they can generate with the number so products they sell and grow during theforecast period of 2018 to 2026.
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Thestudy presented here is based on a report by Transparency Market Research (TMR)titled “Curcumin Market (Nature – Organic Curcumin, Conventional Curcumin; Form– Powder, Liquid; Application – Heart Health, Brain Health, Stress/AnxietyRelief, Anti-inflammation, Antioxidant, Flavorant & Colorant; End Use –Dietary Supplements, Food Products, Herbal & Medicinal Products, Cosmetics)- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 -2026”.
GlobalCurcumin Market can be segmented into:
· Nature
o Organic Curcumin
o Conventional Curcumin
· Form
o Powder
o Liquid
· Application
o Heart Health
o Brain Health
o Stress/Anxiety Relief
o Anti-inflammation
o Antioxidant
o Flavorant & Colorant
· End Use
o Dietary Supplements
o Food Products
o Herbal & Medicinal Products
o Cosmetics
