Market Analysis
The global curcumin market is predicted to grow at a striking CAGR over the forecast period (2019-2024), as per the latest Market Research Future (MRFR) report. Curcumin is a bright yellow chemical that is found in turmeric. It is mostly sold as a food flavoring, herbal supplement, cosmetic supplement, and food coloring. As curcumin has a taste similar to turmeric, it is used in the food and beverage industry as well as in dietary supplements, food coloring, and cosmetics.
Various factors are propelling the curcumin market growth. These factors in accordance to the MRFR report, include growing use of curcumin in pharmaceutical, food, and cosmetic industries, its anti-oxidation, and anti-inflammatory properties help to relieve arthritis and osteoarthritis pain, and growing awareness among consumers. Growing demand for ayurvedic medicines, burgeoning demand for ayurvedic and herbal skincare products that are curcumin-based, increasing use in nutritional supplements, and favorable strategies undertaken by the government for increasing exports and expanding the production capacity are also boosting market growth.
On the contrary, excess consumption of curcumin may cause diarrhea, dizziness, nausea, and stomach upset, which may impede the curcumin market growth over the forecast period.
Key Players in the Global Curcumin Market
- Sabinsa Corporation (Germany)
- Rosun Natural Products Pvt. Ltd (India)
- Konark Herbals & Health Care (India)
- PT. Helmigs Prima Sejahtera (Indonesia)
- Star Hi Herbs Pvt. Ltd. (India)
- SV Agrofood (India)
- Arjuna Natural Extracts Ltd. (India)
- Hindustan Mint & Agro Products Pvt. Ltd. (India)
- Synthite Industries Pvt. Ltd. (India)
- Herboveda India Pvt. Ltd. (India)
Market Segmentation
The MRFR report provides a complete segmental analysis of the curcumin market share on the basis of application, category, and form.
Based on form, the curcumin nootropic market is segmented into powder and liquid. Of these, the powder segment will have the largest share in the market during the forecast period. This is on account of its wide use in pharmaceuticals and nutraceuticals.
Based on category, the curcumin market is segmented into conventional and organic. Of these, the conventional segment will dominate the market over the forecast period. This is owing to its lower price and easy availability compared to curcumin that is organically grown. The organic segment is likely to grow at the highest CAGR owing to the increasing inclination of customers for organic products.
Based on application, the curcumin market analysis is segmented into pharmaceuticals and nutraceuticals, food and beverage, and others. Of these, the pharmaceuticals and nutraceuticals segment will lead the market over the forecast period. Curcumin contains high antioxidants, thereby making it an essential ingredient in most medicines. Curcumin contains β-diketone, which has led to its extensive use in most Ayurveda medicines to treat asthma and allergies. The food and beverage segment, on the other hand, is predicted to grow at the highest CAGR due to the growing food and beverage industry where curcumin is extensively used as a coloring agent.
Regional Analysis
By region, the curcumin market report covers the latest trends and growth opportunities across Europe, the North America, Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region will stay at the fore in the market over the forecast period. This is owing to increasing awareness regarding the various health benefits of curcumin, the growing demand for natural and healthy ingredients, and demand from various skincare and cosmetic manufacturers.
The curcumin market size in North America is predicted to have a notable growth over the forecast period. This is owing to the growing demand for nutritional supplements that are curcumin-based and growing use in cosmetics. Canada as well as the US are the chief contributors in this region.
The curcumin market revenue in Europe is predicted to grow at the fastest pace over the forecast period. This is owing to its growing demand for food and pharmaceutical applications. It is widely used to treat cancer which is boosting the market growth in this region.
Industry News
August 2019: LivTru has launched antioxidant curcumin water, an ideal drink for all-natural muscle recovery and powerful hydration. It is the first to utilize a propriety technique for creating the highest bioavailable form of curcumin. This drink will be available in three delectable flavors- lavender lemonade, peach ginger, and strawberry lemon.
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