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 medicinal and therapeutic properties. It has been used as a spice
and medicinal 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.
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Curcumin
is responsible for the aroma, color, and bitter-warm taste of turmeric.
Turmeric is used as one of the most traditional 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 & natural 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%.
- China accounted
for the highest curcumin market share accounting approximately 36.5% in
the Asia-Pacificregion, 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, Konark Herbals & Health Care,
Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., NOW Health
Group, Inc., Phyo life Sciences, and Herboveda India Pvt. Ltd.
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