Curcumin Market Outlook 2031
The curcumin market size was USD 79.12 Million in 2022 and is estimated to reach USD 183.68 Million by 2031 expand at a high CAGR 9.81% during the forecast period 2023-2031. The growth of market is attributed to increasing awareness about the artificial ingredients present in food, adoption of organic contents in product formulation of cosmetics and medicines.
The curcumin market is a chemical compound used as the food coloring and flavoring agent. Curcumin is generally extracted from turmeric and ginger and is highly consumed in South- eastern countries in both food and medicines due to its therapeutic properties. The rising concerns among consumer about the health benefits and its worthy medical value is projected to drive the market.
In pharmaceutical industry curcumin is highly used due to its therapeutic properties. Researches are been initiated by using various nanoparticles such as polymeric nanoparticles, nanogel as an agent which can be used in the treatment of neurological diseases and cancer. It is proven that curcumin carries various health benefits and a great potential in preventing the diseases such as coronary heart diseases and Alzheimer.
The COVID-19 outbreak has severally affected the market but is anticipated to reach its pre-COVID level due to the demand for the curcumin for the treatment of viral infection and life threatening diseases globally.
Curcumin Market Trends, Drivers, Restraints, and Opportunities
- Growing awareness about the organic medicines, food, and cosmetics is projected to boost the market during the forecasted period.
- Rapid growth of the pharmaceuticals and food industry is the major factor fuelling the market.
- Increasing knowledge of curcumin and its properties such as anti-oxidation, anti-cancer, and anti-inflammatory is expected to spur the market in the coming years.
- Lack of awareness about the quality of the product among the consumers which deceives their buying behavior posses a major factor that can hamper the market during the forecast period.
- R&D investment and technological advancement against curcumin with nanoparticles are expected to offer lucrative opportunities for the market players.
Scope of The Curcumin Market Report
The report on the global curcumin market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Curcumin Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Food, Cosmetics, Pharmaceuticals, Nutraceuticals)
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Regional Scope
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Asia Pacific [India, China, Japan, Australia, and Rest of Asia Pacific], North America [Canada, Mexico, the United States, and Rest of North America], Europe [UK, France, Italy, Spain, Germany, Russia, and Rest of Europe], and Rest of the World [South America and Middle East & Africa]
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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SV Agro Foods; Herboveda India Pvt Ltd; Arjuna Natural Ltd; Biomax Life Sciences Ltd; and Synthite industries Ltd.
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Curcumin Market Segment Insights
The food segment is projected to account major share in the market
Based on applications, the market is classified as food, cosmetics, pharmaceuticals, and nutraceuticals. The food segment in expected to represent a major share of the market in the coming years owing to rising awareness about the health benefits directly related to organic products is anticipated to fuel the market.
Asia Pacific is anticipated to dominate the market
In terms of the regions, the market is fragmented into Asia Pacific [India, China, Japan, Australia and Rest of Asia Pacific]), (North America [Canada, Mexico, United States, Rest of North America]), (Europe [UK, France, Italy, Spain, Germany, Rest of Europe, Russia, Rest of Europe]), (Rest of the World [South America and Middle East & Africa].
Asia Pacific is estimated to dominate the market in the coming years owing to India is major exporter and producer of turmeric in the world.
Segments
The curcumin market has been differentiated on the basis of
Applications
- Food
- Cosmetics
- Pharmaceuticals
- Nutraceuticals
Regions
- Asia Pacific
- India
- China
- Japan
- Australia
- Rest of Asia Pacific
- North America
- Canada
- Mexico
- United States
- Rest of North America
- Europe
- UK
- France
- Italy
- Spain
- Germany
- Rest of Europe
- Russia
- Rest of the World
- South America
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the curcumin market include SV Agro Foods; Herboveda India Pvt Ltd; Arjuna Natural Ltd; Biomax Life Sciences Ltd; and Synthite industries Ltd.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In June 2021, Arjuna Natural Ltd announced the use of natural preservation solution for 100% fruit juice creation.
In December 2020, Synthite industries Ltd introduced new supplement called NatXtra.
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