The 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.
Report HighlightsIn 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 OutlookPharmaceutical Food Cosmetics Others
Curcumin Regional OutlookNorth America U.S. Canada Mexico Europe Germany U.K. France Italy Spain Poland Russia Denmark Asia Pacific China India Japan Australia Malaysia Indonesia Thailand South Korea Vietnam Central & South America Brazil Argentina Middle East & Africa UAE Saudi Arabia South Africa
Why to Buy this Report?This market report is the perfect presentation of the qualitative and quantitative analysis of the market according to categorization considering economic and non-economic factors. It also provides provision of market value (USD Million) data for every segment and sub-segment. This report further focuses on prominent regions and segmentation of the market, which is anticipated to record the rapid growth and dominate the market.
Key Coverage of the ReportKey Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and Recommendations) Strategic recommendations for major business segments based on accurate estimations Competitive landscape mapping key trends in the regions Company profiling with strategic initiatives, financial standing, and recent events The report evaluated key market features, including revenue, price, capacity utilization, gross margin, production and consumption, demand and supply, import/export, along with market share and CAGR. In addition, the study offers a comprehensive analysis of these factors, along with pertinent market segments and sub-segments. Detailed SWOT analysis. Opportunities and threats faces by the existing vendors in Global Curcumin Market Trending factors influencing the market in the geographical regions. Strategic initiatives focusing the leading vendors. PEST analysis of the market in the five major region.
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