Curcumin Market Size, Share & Trends Report

Curcumin Market Size, Share & Trends Analysis Report By Application (Pharmaceutical, Food, Cosmetics), By Region (North America, Europe, Asia Pacific, Rest of the World), And Segment Forecasts, 2018 - 2024

  • Published Date: Jul, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-431-4
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2014
  • Number of Pages: 70

Industry Insights

The global curcumin market size was estimated at USD 44.2 million in 2016. It is projected to expand at a CAGR of 12.3% over the forecast period, according to Grand View Research, Inc. Product demand is anticipated to be driven by its increasing use in cosmetics, food, and pharmaceuticals industries. Curcumin exhibits anti-inflammatory and anti-oxidation properties, which help reduce inflammation and ease the symptoms of arthritis and osteoarthritis.

U.S. curcumin market

Increasing awareness regarding the health benefits of curcumin, especially in the developed economies such as Germany and U.S. is fuelling the product demand, thereby boosting market growth. It is also an active ingredient of turmeric, extracted from Curcuma longa plant. It is a small molecule that is prototypical to curcuminoid and possesses similar effects as that of polyphenols.

Turmeric is a widely used ingredient in food and medical sectors, particularly in the Asian subcontinent, on account of its therapeutic qualities. The demand for ayurvedic medicinal formulations has been gaining momentum and the trend is anticipated to continue over the forecast period. This is also anticipated to have a positive impact on the market development.

On the other hand, presence of cheaper synthetic food products may challenge the market development. However, increasing demand for curcumin-based herbal/ayurvedic skin care products is projected to spur market growth over the forecast period.

Rising usage of curcumin in nutritional supplements, on account of high awareness regarding its anti-cancer properties, would drive the demand further. Moreover, its application in dye-sensitized PV technologies supported by R&D activities is also likely to open new growth opportunities for the market.

Application Insights

Curcumin finds wide usage in cosmetics, food, pharmaceutical, and other applications including textiles. Pharmaceuticals was the most significant application segment in 2016 due to high demand for curcumin-based supplements. The market potential for medical supplements is enormous on account of its availability over-the-counter without any regulations.

It also finds uses in the treatment of viral infections, gastric ailments, arthritis, Alzheimer’s, and tumors. It is also useful in treating various types of skin diseases, which is also likely to boost its demand over the forecast period. In addition, rising demand for natural food coloring substances due to shifting consumer preferences toward the use of organic products will also drive the market demand.

Regional Insights

North America was the largest regional market in 2016. It is anticipated to witness substantial growth in future on account of rising demand for curcumin-based nutritional supplements. Moreover, growing product demand in the cosmetics sector in this region is also expected to boost the market. Europe was the second-largest market and is estimated to witness the maximum growth over the next few years.

Global curcumin market

Research and development activities in Europe suggesting application of curcumin for the treatment of cancer is expected to be the major driver for the region’s expansion. In addition, high product demand in pharmaceuticals and food sectors in the region would also drive its growth. The Asia Pacific regional market is expected to be driven by increasing demand from major cosmetics and skin care manufactures.

Curcumin Market Share Insights

Key manufacturers are largely concentrated in the Asia Pacific region 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% to 9%. Varieties of turmeric with high curcumin content include Rajendra Sonia, Suguna, IISR Prabha, Suroma, and Roma. Supply of raw material varies by seasonal climatic fluctuations and yield of the local turmeric variety.

Some of the major companies in curcumin 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 brands of herbal cosmetics and skin care products using curcumin include, Vicco Group of Companies, Shahnaz Husain Group, and The Himalaya Drug Company.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2014

Forecast period

2016 - 2024

Market representation

Volume in Kilotons and Revenue in USD Million & CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Rest of World

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

Country scope

U.S., Germany, Denmark, India, Japan, Indonesia

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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 the 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 Million, 2013 - 2024)

    • Pharmaceutical

    • Food

    • Cosmetics

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Million, 2013 - 2024)

    • North America

      • U.S.

    • Europe

      • Denmark

      • Germany

    • Asia Pacific

      • India

      • Japan

      • Indonesia

    • Rest of the World

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