he global Curcumin market size is expected to be worth around US$ 151.8 million by 2027, according to a new report by Vision Research Reports.
The global Curcumin market size was valued at US$ 58.3 Million in 2019 and is anticipated to grow at a CAGR of 12.6% during forecast period 2020 to 2027.
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This growth in demand is aligned to its inherent anti-cancer, anti-oxidant, and anti-inflammatory properties, which is promoting its use across end-user industries. Curcumin also finds wide applicability in skin care applications, including prevention of ring worm, eye infection, leech bites, sore skin, bruising, and swelling, which should in turn drive demand for the product over the forecast period.
Product demand is anticipated to be propelled by its increasing application in numerous industries including food, cosmetics, and pharmaceutical. It possesses valuable anti-oxidation and anti-inflammatory properties, emerging as a go-to pain relief choice for patients suffering from arthritis and osteoarthritis.
Rising awareness among consumers, particularly in developed countries including U.S., Germany, and Denmark, is likely to further fuel the demand for curcumin over the next eight years. It is an active component of turmeric, which is extracted from the Curcuma longa plant. The trend of increasing demand for ayurvedic medicinal formulations in numerous countries is observed, and this trend is projected to significantly benefit the curcumin market over the forecast period.
- In Europe, the application of curcumin in the pharmaceuticals sector accounted for a share of 57.1% in terms of revenue in 2019 owing to increasing focus on marketing of capsules/tablets that offer aid to immune system, joint, and digestive health
- In Europe, the market is anticipated to witness the fastest CAGR from 2020 to 2027 and is projected to reach USD 41.8 million in 2027 owing to its wide range of applications in pharmaceutical industry
- In Asia Pacific, the curcumin market is anticipated to witness the second fastest growth rate from 2020 to 2027. The region is estimated to have more demand owing to high consumption of turmeric in food products
- North America was the largest regional market in 2019, with a value of USD 73.7 million. Growing demand for processed food products and curcumin-based health supplements is expected to drive demand in this region
- Health issues due to the incorporation of synthetic ingredients in medicines, food, and cosmetics are the major reasons for influencing manufacturers to adopt natural ingredients in product formulation, which is likely to drive the market
SV Agrofood, Wacker Chemie AG, Arjuna Natural Extracts Ltd., and Synthite Industries Ltd. In March 2016, Arjuna Natural Extracts Ltd. invested around USD 1.5 million in the research and development of proactive curcumin. Turmeric is also used for dyeing numerous fabrics including cotton, silk, and wool for a yellowish shade, which is likely to create market opportunities.
Curcumin Application Outlook
Curcumin Regional Outlook
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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