IMARC Group's latest report, titled "Curcumin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," finds that the global curcumin market size reached US$ 80.8 Million in 2022. Curcumin is a naturally occurring bioactive compound extracted commercially from the dried rhizome of the turmeric plant. It is a yellow-colored compound rich in minerals such as zinc, magnesium, calcium, iron, and potassium. It possesses several medicinal properties, including anti-inflammatory, anti-oxidative, anti-fungal, and anti-bacterial effects. It is commonly consumed for pain relief and treating medical conditions, including jaundice, hemorrhage, and haematuria. It effectively minimizes fatigue, exhaustion, and inflammation in the liver. At present, curcumin finds extensive applications in the manufacturing of nutraceutical products and across the food and beverages (F&B) industry as a yellow food colorant and additive in various food products.
Global Curcumin Market Trends:
The widespread prevalence of chronic medical ailments, such as obesity, osteoarthritis, cardiovascular diseases, cancer, and diabetes, represents the primary factor driving the market growth. Moreover, the rising preference for natural and organic curcumin for various medical applications is positively influencing the market growth. Additionally, the increasing demand for curcumin, as it is effective in preventing ringworms, eye infections, leech bites, sore skin, bruising, and swelling on the skin, is propelling the market growth. Besides this, the surging adoption of curcumin in the production of ayurvedic and herbal supplements is another major growth-inducing factor. Along with this, the increasing consumption of dietary supplements and nutraceuticals has augmented the product demand. Furthermore, the shifting preferences of consumers toward vegetarian diets and herbs, such as turmeric-based food products, are contributing to market growth. In addition, the rising awareness about the negative effects of consuming animal food products and their related environmental implications has accelerated product adoption rates. Apart from this, the increasing use of curcumin in the pharmaceuticals and cosmetics industries to manufacture medicinal supplements and cosmetic formulations due to its antioxidant and anti-inflammatory properties has catalyzed market growth. Other factors, including rising health consciousness among consumers, rapid growth in the food and beverage (F&B) industry, and escalating demand for natural food ingredients, are also anticipated to drive the market further. Looking forward, IMARC Group expects the market value to reach US$ 126.8 Million by 2028, expanding at a CAGR of 7.3% during 2023-2028.
- Based on the application, the market has been divided into food and beverages (bakery and confectionery, beverages, dairy products, and others), pharmaceuticals, cosmetics, and others. Amongst these, pharmaceuticals exhibit a clear dominance in the market.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Currently, North America holds the leading position in the market, accounting for the majority of the market share.
- The competitive landscape of the market has also been examined, with some of the key players being Arjuna Natural Pvt Ltd., Biomax Life Sciences Limited., Helmigs Prima Sehejtera, Herboveda India Pvt. Ltd., Hindustan Mint & Agro Products Pvt. Ltd., Konark Herbals & Healthcare, Rosun Natural Products Pvt. Ltd., Sabinsa Corporation, Star Hi Herbs Pvt. Ltd., SV Agrofood, Synthite Industries Ltd., and Wacker Chemie AG.
|Base Year of the Analysis
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Arjuna Natural Pvt Ltd., Biomax Life Sciences Limited., Helmigs Prima Sehejtera, Herboveda India Pvt. Ltd., Hindustan Mint & Agro Products Pvt. Ltd., Konark Herbals & Healthcare, Rosun Natural Products Pvt. Ltd., Sabinsa Corporation, Star Hi Herbs Pvt. Ltd., SV Agrofood, Synthite Industries Ltd. and Wacker Chemie AG
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