Curcumin Market Growth is Propelled by Rising Awareness Among Consumers About Its Health Benefits

Curcumin Industry Overview

The global curcumin market size is expected to reach USD 191.89 million by 2028, expanding at a CAGR of 16.1%, according to a new report by Grand View Research, Inc. 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.

The U.S. has witnessed a rise in product demand over the past few years owing to the growing awareness among consumers about its medicinal properties and health benefits. The product also has significant usage in tissue engineering and companies are increasingly focused on investing in its research to extrapolate its application in the pharmaceutical industry majorly due to its non-toxicity. Consumers in developed economies are well aware of these research findings and hence high demands can be anticipated from the countries including the U.S., Denmark, and Germany.

Curcumin Market Segmentation

Grand View Research has segmented the global curcumin market on the basis of application, and region:

Based on the Application Insights, the market is segmented into Pharmaceutical, Food, Cosmetics, and Others

• The pharmaceutical application segment led the market in 2020 with the highest revenue share of more than 51%. The segment is estimated to expand further at the fastest CAGR from 2020 to 2028.
• The cosmetics application segment is estimated to have significant growth over the forecast period.
• The food application segment is estimated to register the second-highest CAGR of 16.0% over the forecast period on account of wide product usage as a food additive.

Curcumin Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The global market is highly competitive & fragmented and majorly driven by its applicability in the nutraceuticals and cosmetics industry. This product is extracted from turmeric and ginger and hence production plants are needed to be in the vicinity of the raw material source, which lowers down the cost of the final product and removes the strains observed in logistics. India is a major producer of turmeric accounting for over 78% of the global production. Companies are increasingly concentrating on setting up their production plants in the country. The favorable regulatory regimes and supportive government policies further strengthen the future of the market over the coming years.

Some prominent players in the global Curcumin market include:

• 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.

Order a free sample PDF of the Curcumin Market Intelligence Study, published by Grand View Research.