The global curcumin market is estimated to grow at remarkable CAGR over the forecast period (from 2017 to 2021), according to a report available on Radiant Insights, Inc. Growing demand for natural ingredients is presumed to be the primary growth-driving factor for the global market. Being a principal curcuminoid of turmeric, it can be used as a natural ingredient in food, medicines, and cosmetics. The anti-inflammatory and anti-oxidation properties of curcumin also help stimulate its demand in various applications.
Growing health consciousness among consumers owing to the presence of artificial ingredients in medicines, food, and cosmetics can influence the growth of this market. Increasing cases of chronic health disorders, such as cancer, caused due to unhealthy lifestyle and eating habits can also fuel the market growth in the forthcoming years. In addition, effective spot removal property of curcumin is anticipated to propel its demanding the textile industry.
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The curcumin market is segregated on the basis of product type, application, and region. Based on product type, the market is categorized into food grade, pharmaceutical grade, industrial grade, and others. Based on application, the market is classified into pharmaceutical, food, cosmetics, and others. In recent years, pharmaceutical segment held the maximum market share as a result of high demand for curcumin-based supplements in this sector. The availability of these supplements over-the-counter without any government regulations would further influence the segment development. The cosmetics segment is also anticipated to witness healthy growth during the forecast period owing to rising adoption of herbal skin care products.
On the basis of geographies, the curcumin market is divided into Europe, Japan, China, India, and North America. In North America, the market is expected to witness substantial growth over the next few years on account of high demand for curcumin-based supplements in the region. In addition, growing adoption of curcumin in cosmetic industry in the region can also fuel the region’s expansion. Followed by North America, European curcumin market is anticipated to expand at a noticeable growth rate attributed to extensive use of curcumin in pharmaceutical and food applications.
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Furthermore, rising number of R&D activities regarding the utilization of curcumin for the treatment of various chronic diseases, such as cancer, is also likely to influence the market growth in this region. In India, the curcumin market is estimated to witness a significant growth over the coming years. This growth can be attributed to the high demand for curcumin as a raw material from major herbal skin care products manufacturing companies in the region. Moreover, major production of turmeric in India is also expected to augment the market growth in this region.
Some of the leading companies operating in the global curcumin market are Sabinsa, Indena, Naturite, Perennial, Synthite Industries Limited, and Unibar. Most of these companies investing huge amounts in R&D activities to enhance the curcumin’s applications in pharmaceutical to meet the rising product demand as an essential ingredient in medicines. For instance, Verdure Sciences recently launched a new product called Neuralum, which contains curcumin as a major ingredient. The new Neuralumis designed especially for the cognitive- and eye-health markets. In another instance, CurcuminPro is offering a wide range of curcumin-based products such as shakes, capsules, drink mixes, and many more. These products contain company’s signature CPro ingredient, which provides essential benefits of curcumin and protein without affecting the flavor and nutrients.
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