The new report by EMR titled, ‘Global Curcumin Market Price, Size, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global curcumin market, assessing the market based on its segments like forms, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 9.1%
The global curcumin market is expected to be driven by health benefits afforded by curcumin, including anti-inflammatory benefits; usefulness in heart disease, cancer, metabolic syndrome, Alzheimer’s disease, depression, arthritis, and various degenerative conditions; improved antioxidant capacity of the body; and enhanced brain-derived neurotrophic factor.
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Health-conscious consumers looking to perform better and stay active are expected to impact the market growth positively. Younger adults that use turmeric for antioxidant and recovery support and older consumers seeking benefits of turmeric for joint support and memory indications are likely to propel the market growth. In addition, rising consumer awareness of its health benefits and expanding medicinal value will increase product demand in other parts of the world.
During the forecast period, a growing shift in consumer trends and rising awareness about the benefits of employing organic and natural components in cosmetic, medicinal, and food applications will also fuel the product demand.
Curcumin Industry Definition and Major Segments
Turmeric, an Indian curry spice, has sparked a lot of interest since it contains bioactive curcuminoids (curcumin, demethoxycurcumin, and bisdemethoxycurcumin). Curcumin may have anticancer, antibacterial, anti-inflammatory, and anti-ageing properties.
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By form, the market is segmented into:
• Powder
• Liquid
The major applications of the market are:
• Pharmaceuticals
• Food
• Cosmetics
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Curcumin Market Trends
Curcumin is widely utilised in the cosmetic industry to treat acne and blemishes due to its natural antiseptic and antibacterial characteristics. In the cosmetic industry, it is also utilised as an anti-ageing and wrinkle solution. Thus, the rising cosmetic sector will encourage product uptake due to changing consumer lifestyles and increased expenditure on cosmetic products.
Also, increased consumer awareness of product benefits and customer preference for organically produced products will drive market expansion throughout the projection period. Due to the rising awareness of the ill effects of synthetic products, emerging countries such as China and India are witnessing incredible growth in such products in recent years. Further, the rising demand for curcumin-based ayurvedic and herbal personal care products is also expected to fuel the global market growth.
Key Market Players
The major players in the market are:
- Wacker Chemie AG,
- Biomax Life Sciences,
- Synthite Industries Ltd.,
- Shaanxi Jiahe Phytochem Co., Ltd,
- SV Agrofood,
- Nuvothera, Inc.,
- others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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