USD 63.83 million
Curcumin Market Size, Share, Growth Analysis, By Nature(Organic, Conventional), By Form(Powder, Liquid), By Application(Food & Beverages, Pharmaceutical, Cosmetics, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2151 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
89
|Figures:
76
Curcumin Market Insights
Curcumin Market size was valued at USD 465.6 million in 2022 and is poised to grow from USD 527.6 million in 2023 to USD 1436.0 million by 2031, growing at a CAGR of 13.3% in the forecast period (2024-2031).
This expansion can be attributed to the product's natural qualities, such as anti-cancer, anti-oxidant, and anti-inflammatory capabilities. It is also widely used in skin-care applications, such as the prevention of ringworms, eye infection, leech bites, painful skin, bruises, and swelling, among others, which is likely to fuel curcumin market expansion over the forecast period. Curcumin is an active substance derived primarily from turmeric and ginger. Because of its medicinal benefits, turmeric is widely consumed in South East Asian countries in both food and medical items. Consumer knowledge of its health benefits and expanding medicinal values will increase product demand in other parts of the world. Consumer tastes are shifting, and there is growing knowledge about the benefits of employing organic and natural components in medicinal, cosmetic, and food applications, which will boost product demand throughout the projected period.
US Curcumin Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmaceutical
Fastest Growth
Pharmaceutical
Growth Rate
16.67% CAGR
Global Curcumin Market 2021-2028 ($ Bn)
Country Share for Europe Region- 2021 (%)
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Curcumin Market Segmental Analysis
Global Curcumin market is segmented based on nature, form, application. Based on nature, Curcumin Market is segmented into organic, conventional. Based on form, Curcumin Market is segmented into powder, liquid. Based on application, Curcumin Market is segmented into food & beverages, pharmaceutical, cosmetics, others. Based on region, Curcumin Market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa.
Curcumin Market Analysis by Application:
In 2020, the pharmaceutical application category led the curcumin market with a revenue share of more than 51%. From 2020 to 2028, the segment is expected to grow at the fastest CAGR. Curcumin has been commonly utilized in traditional Asian herbal remedies for ages to treat infections and inflammation. The cosmetics application segment is expected to increase significantly during the forecast period. The antioxidant, anti-inflammatory, and antiaging qualities of the substance contribute significantly to its suitability for cosmetic applications. UV rays trigger These free radicals also cause skin damage, resulting in obvious photoaging consequences such as hyperpigmentation, wrinkles, and loss of skin firmness. Curcumin-infused products can help to mitigate these effects. As a result, brand owners in the personal care and cosmetics industries are increasingly using it as an addition. Rising consumer awareness of product benefits, as well as customer preference for organically produced products, will drive market expansion throughout the projection period. Due to the widespread use of the product as a food additive, the food application segment is expected to achieve the second-highest CAGR of 16.0 percent over the projected period.
Global Curcumin Market By Application, 2021 (%)
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Curcumin Market Regional Insights
Based on region global Curcumin market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East Africa.
During the forecast period, Europe is expected to have the quickest CAGR of 16.7 percent. The well-established personal care and cosmetics business in Western European countries such as Italy, Germany, and Spain is a primary driver of the regional curcumin market. Due to increased product demand in food and nutritional supplements, North America accounted for the greatest revenue share in 2020. North America is also home to several premium cosmetic brands, and these companies are increasingly inclined to incorporate organic components into their products, which creates potential for the industry to flourish. Over the forecast period, Asia Pacific is expected to have the second-fastest CAGR. This is primarily owing to reduced consumer understanding of the health advantages of curcumin in the region. Lower consumer awareness, on the other hand, presents a wonderful chance for brand owners to educate the public and launch products to meet regional demand. Rising demand for curcumin-based ayurvedic and herbal personal care products will also drive regional market expansion.
Global Curcumin Market By Geography, 2021-2028
- Largest
- Fastest
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Curcumin Market Dynamics
Curcumin Market Drivers
Increased Consumer Awareness of Health and Wellbeing to Promote Market Growth
- Consumers globally have made health and wellness one of their top priorities. In recent years, there has been a substantial growth in the curcumin market for natural products with immune-boosting characteristics. Various natural extracts have proven useful against a variety of ailments and have consequently acquired popularity in recent years. Since ancient times, several countries, including India, have used turmeric in various medical and cosmetic formulations, and the commodity is still in demand today. Several clinical investigations have been undertaken around the world to demonstrate that curcumin has antioxidant and anti-inflammatory effects, making it appropriate for producing medical supplements and cosmetic formulations. As a result, demand has surged tremendously.
Curcumin Market Restraint
Availability of Low-Cost Substitutes will Stifle Market Growth
- Other low-cost curcumin replacements include natural spices like mustard powder, which can be utilized as natural food additives. In addition, various chemical compounds can be used to make medications and colours. As a result, manufacturers might switch to cheaper raw materials, slowing market growth. This has put additional strain on the turmeric supply chain to get raw ingredients and deliver these goods to enterprises for further processing. To fulfill this rising demand, some firms adulterate turmeric species or dyes, lowering the final product quality. This has an impact on brand perception, resulting in low market growth in the region.
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Curcumin Market Competitive Landscape
The global curcumin market is fragmented, with a prominent market player acquiring a sizable portion. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions.
Top Players in the Curcumin Market
- Synthite Industries Ltd.
- Helmigs Prima Sehejtera P.T.
- Sabinsa Corporation
- Biomax Life Sciences Ltd.
- Hindustan Mint & Agro Products Pvt. Ltd.
- Arjuna Natural Extracts Ltd.
- SV Agrofood
- Herboveda India Pvt. Ltd.
- Konark Herbals & Health Care
- BioThrive Sciences
- Hebei Food Additive Co., Ltd.
- Star Hi Herbs Pvt. Ltd.
- Shaanxi Jintai Biological Engineering Co., Ltd.
- Aushadhi Herbal
- Now Foods
- Nature's Bounty Co.
- Gaia Herbs
- Source Naturals
- Jarrow Formulas
- Solgar Inc.
Curcumin Market Recent Developments
- In September 2022, Revive CBD Complex Curcumin and Hemp Extract was added to NextEvo Naturals' line of water-soluble CBD products, which have been formulated and clinically proven to maximize absorption.
- In March 2022, Sabinsa launched curcumin analog ingredient called CurCousin. The new branded ingredient contains Calebin A, a curcumin analog, and supports balanced cholesterol, healthy blood sugar levels, circulation, as well as weight management.
Curcumin Key Market Trends
Growing Trend of Using Natural Ingredients-Based Cosmetic Products
- Since ancient times, herbs and spices have been utilized to improve human beauty. Herbal formulations have always gotten a lot of interest because of their high activity and lack of negative effects. Natural cosmetics are thought to be safe to use. Medicinal cosmetics are a cross between cosmetics and pharmaceuticals that aim to improve the skin's health and beauty by giving particular benefits such as acne and wrinkle prevention in addition to its role as a sunscreen. These products also improve skin function and texture by encouraging collagen formation, neutralizing free radicals, preserving keratin structure, and making the skin healthier. Southeast Asian, particularly Indian, women have traditionally used herbs such as sandalwood and turmeric for skincare and natural oil to perfume their bodies. However, in recent years, similar trend has been noted in the United States and Europe. With more consumers opting for natural products and a sustainable lifestyle, this trend is predicted to continue and draw more consumers to natural components in the long run.
Curcumin Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global curcumin market analysis, product demand is expected to be fuelled by its growing application in a variety of industries, including food, cosmetics, and pharmaceuticals. It has anti-oxidant and anti-inflammatory qualities, making it a popular pain reliever for individuals with arthritis and osteoarthritis.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 465.6 million |
| Market size value in 2031 | USD 1436.0 million |
| Growth Rate | 13.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Curcumin Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Curcumin Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Curcumin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Curcumin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Curcumin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Curcumin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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