Curcumin is a naturally occurring chemical compound that is found in the root of the spice turmeric. It is used as an important ingredient in many medical and food applications owing to its anti-inflammatory, antioxidant, and cartilage building properties. Curcumin has also been used as a preventive measure and cure for many diseases and health problems such as in wound healing, treating sprains, arthritis, liver problems, diabetes, and gastric problems. It also helps prevent Alzheimer’s disease, and reduces the possibility of heart attacks, kidney disorders, and other diseases. Rise in consumer awareness towards health benefits of curcumin and growth in demand for herbal nutritional supplements are the major factors that drive the global curcumin market.
Curcumin find its extensive applications in skin ointments, syrups, and juices, which have helped expand its scope in the cosmetic and pharmaceutical industry. In addition, curcumin functions effectively to alleviate depression, fight higher fat levels and reduce risk of cardiovascular diseases, which is expected to increase its commercial applications. Thus, the rise in the health benefits associated with curcumin has fueled its demand in recent years. Moreover, the demand for commercial curcumin extracts such as powder, capsules, and syrups has increased where the curcumin extracts are expected to witness high demand, owing to its application in the treatment of several severe diseases including, cancer, Alzheimer, and migraine.
The increase in the use of curcumin in skin care applications including prevention from acne, scars, aging, eye infections, skin sores, and others are expected to fuel its demand in the personal care industry. Curcumin enhances and preserves the nutritional value of food, and therefore, is used for flavoring, coloring, or seasoning purposes in many global cuisines. Developing inclination for solid and common nourishment items among masses is projected to enhance interest for curcumin as color or flavoring agent in different food applications. However, the presence of cheaper synthetic food colorants & flavoring agents and formulation challenges in curcumin-based products are estimated to hamper the market growth, but increase in the application of curcumin extracts in pharmaceutical and personal care products are expected to boost its demand.
The report on the global curcumin market is segmented based on application and geography. Based on application, the report includes pharmaceutical, food & beverage, cosmetic, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in the global curcumin market include Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd, NOW Foods, Phyo life Sciences and Herboveda India Pvt. Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global curcumin market for the period of 2018-2025 to identify the prevailing market opportunities.
- The key countries in all the major regions have been mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier buyer network.
- A comprehensive analysis of factors that drive and restrict the growth of curcumin market is provided.
- In-depth analysis of the curcumin market segmentation assists in determining the prevailing market opportunities.
- The report includes a detailed analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.
KEY MARKET SEGMENTS
By Application
- Pharmaceutical
- Food & Beverages
- Cosmetic
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- U.S.
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- UK
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- China
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Brazil
OTHER PLAYERS
Other prominent players in curcumin market are as follows.
- Cepham Inc
- Amoretti, Todd Botanical Therapeutics
- FLAVEX Naturextrakte GmbH
- Sabinsa Corporation
- Verdure Sciences, Inc.
- Sanat Products Ltd.
- Wacker Chemie AG
- The Synergy Company
- Vitamaze GmbH
*Profiles of these players are not included in the report, but can be included on request
Table of Contents
Executive Summary
According to a new report, titled, Curcumin Market by Application: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global curcumin market was valued at $52.45 million in 2017, and is projected to reach $104.19 million by 2025, registering a CAGR of 8.9% from 2018 to 2025. In 2017, the pharmaceutical segment accounted for more than 50% share of the global curcumin market in terms of value.
Curcumin is a bioactive compound found in turmeric, known for its powerful medicil and therapeutic properties. It has been used as a spice and medicil herb for thousands of years in Asian countries such as India, Thailand, Indonesia, and others. Owing to its anti-inflammatory, antioxidant, and cartilage building properties curcumin finds extensive applications in the cosmetic and pharmaceutical industry. Medicines containing curcumin extracts are used for treatment of numerous diseases and health problems such as wound healing, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. Curcumin extracts have been formulated in many skincare applications in the form of skin creams, ointments, powder, and others. It helps to heal and prevent dry skin, treat skin conditions such as eczema and acne, and delay the aging process. Thus, the increase in use of curcumin in cosmetic and pharmaceutical industry has propelled the curcumin market growth in recent years.
Curcumin is responsible for the aroma, color, and bitter-warm taste of turmeric. Turmeric is used as one of the most traditiol spices in many Indian, Thai, and Western cuisines. It enhances and balances the flavors of all other ingredients; hence it is used for flavoring, coloring, and seasoning purpose. The focus of food manufacturers is mostly on incorporation of curcumin in food products, which is expected to provide ample opportunities for curcumin industry. Other factors such as rise in living standards, increase in preference for healthy & tural food products, rapid urbanization, and surge in demand for ayurvedic and herbal skincare products have an indirect positive influence on the growth of the global curcumin market. Nonetheless, the presence of less expensive synthetic food colorants and formulation challenges in curcumin-based items are expected to hamper the market development. Technological advancements and introduction of innovative curcumin extract products such as powder, capsules, and syrups in pharmaceutical, skincare, and other commercial applications are expected to provide lucrative opportunities for the curcumin industry during the forecast period.
Key Findings of the Curcumin Market:
- The pharmaceutical segment was the highest contributor to the curcumin market in 2017, and is projected to grow at a CAGR of 9.1%.
- Europe is the quickest developing locale enlisting a CAGR of 9.5% over the figure time frame. Developing interest from purchasers combined with administrative help from the European Food Safety Association (EFSA) is expected to fuel the growth of the Europe market.
- In 2017, North America was the most elevated donor regarding quality and volume and is projected to grow at the most astounding CAGR of 9.0% from 2018 to 2025.
- In 2017, Asia-Pacific accounted for almost 14% of the share in terms of value in the global curcumin market and is projected to grow at a significant CAGR of 8.2%.
- Chi accounted for the highest curcumin market share accounting approximately 36.5% in the Asia-Pacific region, in 2017.
- In 2017, the food & beverage segment accounted for 33.2% of curcumin market share and is expected to grow at significant CAGR of 9.5%.
In terms of value, Asia-Pacific and LAMEA collectively contributed one-fifth share in the global curcumin market in 2017. The key players operating in the curcumin market are Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Kork Herbals & Health Care, Arju tural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., NOW Health Group, Inc., Phyo life Sciences, and Herboveda India Pvt. Ltd.
Companies Mentioned
- Biomax Life Sciences Ltd.
- Synthite Industries Ltd.
- BioThrive Sciences
- Konark Herbals & Health Care
- Arjuna Natural Extracts Ltd.
- SV Agrofood
- Star Hi Herbs Pvt. Ltd
- NOW Foods
- Phyo life Sciences
- Herboveda India Pvt. Ltd.
- Cepham Inc
- Amoretti, Todd Botanical Therapeutics
- FLAVEX Naturextrakte GmbH
- Sabinsa Corporation
- Verdure Sciences, Inc.
- Sanat Products Ltd.
- Wacker Chemie AG
- The Synergy Company
- Vitamaze GmbH
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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