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Global Curcumin Market InsightMay 19, 2022 Comments
Global curcumin is forecast to 8.91% over the next five years. According to the WK-chem Research, “Global Curcumin Professional Survey Report 2022, Forecast to 2027”, the curcumin market is expected to witness a huge development due to growth in consumer awareness regarding its therapeutic properties. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 8.91% base on WK-chem Research regression analysis model.
“The global market is highly competitive & fragmented and majorly driven by its applicability in the nutraceuticals and cosmetics industry. This product is extracted from turmeric and ginger and hence production plants are needed to be in the vicinity of the raw material source, which lowers down the cost of the final product and removes the strains observed in logistics”, said Manny Patel, Senior analyst, in WK-chem Research.
Enhanced health consciousness, multiple health benefits of curcumin, and increased need of natural & organic supplements have fueled the demand for curcumin in the past few years, thus propelling the growth of the curcumin market. In addition, factors such as living a healthy life, rise in demand for organic-based foods as well as ayurvedic medicinal formulations, and innovations in pharmaceutical & skincare products using curcumin have supplemented the growth of the global curcumin market.
However, the presence of cheaper synthetic food colorants and formulation challenges in curcumin-based products affect the growth of the market.
This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading curcumin companies that include: WackerChemie AG; BioMaxLifesciences Ltd.; Synthite Industries Ltd.; Hindustan Mint & Agro Products Pvt. Ltd.; Arjuna Natural Extracts Ltd.; SV Agrofood; Star Hi Herbs Pvt. Ltd.; Herboveda India Pvt. Ltd.; Helmigs Prima Sehejtera P.T.; Tri Rahardja PT/Javaplant; Konark Herbals & Healthcare; Rosun Natural Products Pvt. Ltd.; SabinsaCorp.
Segmentation of Curcumin Market:
According to the type, the market for curcumin is divided into: Powder, Liquid. Powder curcumin segment is anticipated to exhibit considerable growth during the forecast period, as they are easy to store and easy transport facility. In addition, powder curcumin has a long shelf life as compared to liquid form.
According to the application, the market for curcumin is divided into: Pharmaceutical, Food & Beverage, Cosmetic, Others. Pharmaceutical has the largest market share. Curcumin is used as an important ingredient in many medical and food applications owing to its anti-inflammatory, antioxidant, and cartilage building properties. Pharmaceutical industries are actively trying to formulate curcumin-based medicines in the form of powder, capsules, and syrups for treatment of numerous diseases and health problems such as healing wounds, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. Increase in scope of its application in the pharmaceutical and cosmetic industry is expected to boost the growth of the curcumin market during the forecast period.
Curcumin Market: Regional Analysis
In terms of geography, the global curcumin market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America was the largest market for curcumin, both, in terms of value and volume. Factors such as growth in population, increase in health awareness and introduction of innovative products propel the growth of curcumin. The Europe region is projected to be the fastest-growing market in terms of value during the forecast period. This development is predominantly determined by the increase in consumer expenditure on pharmaceutical and nourishment products along with positive regulations improving its overall market.
Largest share area：North America
Largest share country：United States
Product Type：Powder, Liquid.
Application：Pharmaceutical, Food & Beverage, Cosmetic, Others
Leading Company：WackerChemie AG; BioMaxLifesciences Ltd.; Synthite Industries Ltd.; Hindustan Mint & Agro Products Pvt. Ltd.; Arjuna Natural Extracts Ltd