Curcumin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Curcumin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global curcumin market is projected to record a CAGR of 12.5%, during the forecast period (2020-2025).

Key Highlights

• Health concerns due to the presence of artificial ingredients in food, medicines, and cosmetics are the key aspects influencing manufacturers to adopt organic ingredients in product formulation. This is expected to drive the curcumin market.
• Anti-cancer, anti-inflammatory, and anti-oxidation properties of curcumin are expected to drive the market growth as well.
• Increased applications in the textile and cosmetic market are likely to enhance industry growth during the forecast period. The demand for products in skin care applications, including prevention from ringworm, leech bites, eye infections, skin sores, skin for pain, sprains, and swellings, bruising, and gum diseases are expected to propel the industry grow further.

Key Market TrendsIncreasing Awareness of Natural Food Ingredients

Color is one of the first things consumers notice about any product. But with clean-label demand spreading across the market, colors are increasingly about more than just what meets the eye. Natural colors are now a purchasing priority for an enormous chunk of the consumer base, and brands (big and small) are taking notice. Consumers are ready to pay premium prices to procure organic products, owing to their health benefits. Organic turmeric is in high demand among consumers who are looking to reap the full health benefits of turmeric’s functional properties. There are many functionality problems with natural colors. Nevertheless, exempt (Natural) colors are perceived by consumers as being less of a health hazard than the petroleum(coal-tar)-derived synthetics. Hence, manufacturers are incorporating them into their products to get an edge. This is driving the curcumin market.

Asia-Pacific is the Fastest Growing Market Segment

Increased focus on research and development, in order to enhance curcumin bioavailability is a major driver for curcumin in the Asia-Pacific region, with a larger number of laboratory studies to prove structure-function relationships, and human clinical trials to establish efficacy and safety by specific applications (prevention and supportive treatment of digestive disorders, arthritis, cancers, cardiovascular diseases). The Chinese curcumin industry is anticipated to witness heavy gain from the pharmaceutical and cosmetic sectors, subject to the product’s natural anti-oxidants. High demand for turmeric-based organic dietary supplements and anti-cancer medication is expected to fuel Japan’s curcumin market size. Increasing consumer consciousness toward the consumption of natural ingredients in food products, cosmetics, and medicines is expected to help Asian market players to exploit lucrative opportunities in the curcumin market. India is by far the largest producer and exporter of turmeric in the world. Turmeric occupies about 6% of the total area under spices and condiments in India.

Competitive Landscape

Key manufacturers are mostly concentrated in the Asia-Pacific region, due to proximity to raw material suppliers and relatively high content of curcumin in Indian turmeric varieties. Some of the major companies in the curcumin market are Biomax Life Sciences Ltd, Synthite Industries Ltd, and Konark Herbals & Health Care Arjuna Natural Extracts Ltd, SV Agrofood.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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