Curcumin Market Size, Share & Trends Report

Curcumin Market Size, Share & Trends Analysis Report By Application (Pharmaceutical, Food, Cosmetics), By Region (Asia Pacific, North America, CSA, Europe, MEA), And Segment Forecasts 2018 - 2025

  • Published Date: Sep, 2018
  • Base Year for Estimate: 2016
  • Report ID: 978-1-68038-431-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 70

Industry Insights

The global curcumin market size was estimated at USD 44,246.3 thousand in 2016 and is projected to register a CAGR of 13.3% over the forecast period. Demand is projected to be driven by increasing use in cosmetic, food, and pharmaceutical industries. It exhibits advantageous anti-inflammatory and anti-oxidation properties, emerging as a go-to pain relief option for patients with arthritis and osteoarthritis.

Increasing awareness among consumers, especially in developed economies such as U.S., Denmark, and Germany, is further fueling demand for curcumin over the forecast period. It is an active ingredient of turmeric extracted from the Curcuma longa plant. Turmeric is a widely used ingredient in food and medical products on account of its therapeutic qualities, particularly in the Asian subcontinent. Demand for ayurvedic medicinal formulations has been gaining momentum in a number of developed countries as well, and this trend is anticipated to significantly benefit the market over the forecast period.

U.S. curcumin market

Growing demand for curcumin-based herbal and ayurvedic skin care products is projected to fuel the market over the coming years. In addition, its use in nutritional supplements is an ongoing trend, which is supported by increasing consumer awareness regarding its anti-cancer properties. Its application in dye-sensitized PV technologies, supported by research and development activities, is likely to open potential avenues for growth.

Application Insights

Curcumin finds application in cosmetics, food, pharmaceutical, and others, including textiles and dye-sensitized PV technology. Pharmaceuticals formed the most significant application segment in 2016 on account of increasing demand for curcumin-based supplements.

The market potential for medical supplements is enormous on account of its availability over the counter without being restricted by any regulations. It also finds use in treatment of viral infections, gastric ailments, arthritis, Alzheimer’s, and tumors. It is also useful in treating various types of skin diseases and hence its demand is likely to expand over the forecast period.

Global curcumin market

There has been a surge in demand for natural food coloring substances due to shifting consumer preferences toward use of natural food products. Presence of cheaper synthetic food products and substitutes may, however, challenge the growth of the curcumin market over the forecast period.

Regional Insights

North America was the largest regional market in 2016 and is anticipated to witness substantial growth on account of rising demand for curcumin-based nutritional supplements. Growing demand for applications in cosmetic preparations is expected fuel the market.

Europe was the second largest market and is expected to witness the fastest growth rate over the forecast period. This can be attributed to increasing demand for curcumin in pharmaceutical and food applications. Research studies have hinted at application of curcumin for treatment of cancer and this is expected to be a major factor driving the market in Europe.

Demand in Asia Pacific is expected to be driven by growing demand from several cosmetics and skin care manufactures. These herbal products are fast gaining prominence and penetration in a number of European and North American countries.

Curcumin Market Share Insights

Manufacturers are largely concentrated in Asia Pacific on account of proximity to raw material suppliers and relatively high content of curcumin in Indian turmeric varieties. Curcumin content in Indian turmeric varieties ranges from 3%-9%; these include Rajendra Sonia, Suguna, IISR Prabha, Suroma, and Roma. Supply of raw material depends of seasonal and climatic fluctuations as well as yield of local turmeric variety.

Some of the major players in the market are Biomax Life Sciences Ltd., Synthite Industries Ltd., Hindustan Mint & Agro Products Pvt. Ltd., Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., Helmigs Prima Sejahtera PT., Hebei Food Additive Co. Ltd., Tri Rahardja PT, and Herboveda India Pvt. Ltd. Some of the popular Indian brands of herbal cosmetics and skin care products employing curcumin are Vicco, Shahnaz Husain, and Himalaya Herbals.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Volume in tons and Revenue in USD Thousands & CAGR from 2017 to 2025

Regional scope

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

Report coverage          

Revenue forecast, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Poland, Russia, Denmark, China, India, Japan, Australia, Malaysia, Indonesia, Thailand, South Korea, Vietnam, Brazil, Argentina, UAE, Saudi Arabia, South Africa

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global curcumin market report on the basis of application and region:

  • Application Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)

    • Pharmaceutical

    • Food

    • Cosmetics

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

      • Poland

      • Russia

      • Denmark

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • Malaysia

      • Indonesia

      • Thailand

      • South Korea

      • Vietnam

    • CSA

      • Brazil

      • Argentina

    • MEA

      • UAE

      • Saudi Arabia

      • South Africa

Key questions answered by the report
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