Global Curcumin Market By Application (Pharmaceutical, Food, Cosmetics and Other Applications), By Nature (Organic and Conventional), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Curcumin Market Overview:

The global curcumin market was worth USD 67.5 million in 2021. From 2022 to 2032, it is expected that the compound annual growth rate of curcumin will be 15.5%.

The product’s inherent properties, such as its anti-cancer and antioxidant properties, are responsible for this increase. It’s also used in skin-care applications like the prevention of ringworms. Curcumin can be found in ginger and turmeric. Turmeric is a widely consumed ingredient in South East Asian countries, both in food and medical products.

Global Curcumin Market Scope:

Application analysis

With a 49% revenue share, the pharmaceutical application segment led the market. The fastest CAGR for this segment is between 2023-2032. Curcumin is a traditional Asian herb medicine that has been used to treat inflammation. The forecast period predicts significant growth in the cosmetics segment. Its anti-inflammatory, anti-inflammatory, as well as antiaging properties, make it a popular cosmetic product. Exposure to UV radiations results in the formation of free radical species. These react with proteins, DNA, and fatty acids, and cause irritation on the epidermis.

These free radicals also cause skin damage, such as hyperpigmentation and wrinkles. These effects may be diminished by by-products containing curcumin. So, brand owners in personal care and cosmetics verticals are increasingly including curcumin as an add-on. The market will grow during the forecast period due to increased consumer awareness of the benefits of organic products, and an increase in consumer desire for organically produced products. Because of the widespread use of food additives as food ingredients, the food application segment is expected to experience the second-highest CAGR (16.0%) during the forecast period.

Nature analysis

The global market is divided into organic or conventional products based on nature. Curcumin from turmeric is mainly cultivated in India and south-east Asia. India is the main producer of turmeric. The farmers in these countries make a much lower income than North American or European farmers, and so they opt for cheaper and more easily accessible agro products.

The availability of conventional products is easy and they cost much less than organic. This is why the main practice is to use them in these countries. Accordingly, the main market for conventional products is the one that will dominate in the next few years.

Кеу Маrkеt Ѕеgmеntѕ:

By Application

• Pharmaceutical
• Food
• Cosmetics
• Other Applications

By Nature

• Organic
• Conventional

Market Dynamics:

Consumers will become more aware of the benefits of organic and natural ingredients, as well as the increasing medicinal value. This will increase product demand around the world. The shift in consumer habits and increasing awareness about organic and natural ingredients for medical, cosmetic, food, and other purposes will increase product demand over the forecast period.

It is hydrophobic as well as lipophilic. The pharmaceutical industry uses curcumin mainly for its traditional therapeutic purposes. Many types of research are being conducted to determine the best way to deliver curcumin to patients with neurological diseases and cancer. It has been proven to have significant health advantages and the potential to prevent many diseases such as Alzheimer’s, coronary heart disease, and even cancer. The COVID-19 pandemic had an impact on the market. However, due to the increasing demand for curcumin as a treatment for viral infections, it is expected that the market will grow at an exponential rate for the next five years. Its antiviral properties have made it one of the most sought-after natural ingredients.

It is also known for its therapeutic properties. These include anti-microbial properties and anti-inflammatory and neuroprotective properties. In the United States, there has been a surge in product demand in recent years due to increased awareness about its medicinal properties. Due to its non-toxicity, companies are increasing their investment in research into the product to further expand its application in pharmaceutical industries. This product is well-known by consumers in developed nations, which means that high demand can also be expected from the U.S.A, Denmark, and Germany.

Regional Analysis:

The Asia Pacific is the largest region with a market share of 31.5% over the forecast. This can be attributed largely to the lower consumer awareness in this region regarding the health benefits associated with curcumin. But, brand owners can use this opportunity to educate the public and launch products to address the local demand. Regional market growth can also be supported by rising demand in herbal personal care products and Ayurveda products.

Europe is predicted to record the second-fastest growth rate over the forecast period. The strong personal care & cosmetics industries. Because of the high product demand for food & nutritional supplements, North America was the country with the third-highest revenue share. North America is also home to many premium cosmetic brands. This market offers growth opportunities by incorporating organic ingredients into its products.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

The global market is highly competitive and fragmented. This market is mainly driven by the application of nutraceuticals in cosmetics and other nutraceuticals. This product is extracted from ginger or turmeric. Therefore, production plants need to be within close proximity of the source. This lowers the final product cost and reduces logistics problems. India is the largest producer of turmeric with 78% of all global production. In India, companies are increasingly concentrating their efforts to set up production plants. In the years ahead, the market will continue to be supported by supportive government policies and favorable regulatory regimes. The prominent players in curcumin’s global market are:

Маrkеt Кеу Рlауеrѕ:

• WackerChemie AG
• BioMaxLifesciences Ltd.
• Synthite Industries Ltd.
• Hindustan Mint & Agro Products Pvt. Ltd.
• Arjuna Natural Extracts Ltd.
• SV Agrofood
• Star Hi Herbs Pvt. Ltd.
• Herboveda India Pvt. Ltd.
• Helmigs Prima Sehejtera P.T.
• Tri Rahardja PT/Javaplant
• Konark Herbals & Healthcare
• Rosun Natural Products Pvt. Ltd.
• SabinsaCorp.
• Other Key Players

For the Curcumin Market research study, the following years have been considered to estimate the market size: