NEWARK, Del, Aug. 03, 2022 (GLOBE NEWSWIRE) -- As per Future Market Insights (FMI) analysis, the global curcumin market is valued at a total of US$ 95.6 Mn in 2021. The overall sales of curcumin will surpass US$ 279.3 Mn by 2031. Demand for curcumin is projected to grow by 11.3% CAGR over the forecast period, from 2021 to 2031.
According to a recent study, the sales graph represented 3% to 5% of overall growth in the curcuminoids market in 2020. Owing to the numerous benefits as a functional ingredient, the curcumin market is likely to soar throughout the forecast period (2021-2031).
As per FMI projections, Curcumin Market is anticipated to expand at a prolific 11.3% CAGR between 2021 and 2031, in comparison to the CAGR of 10.8% registered between 2016 and 2020.
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Key Takeaways
- Consumers are drastically inclining toward natural personal care products which is the primary reason to spur demand for curcumin in the forthcoming years. Surging awareness about the benefits of organic ingredients is compelling manufacturers to use organic natural ingredients in their products.
- Greener products are gaining prevalence over the few years because of the increasing awareness about the harmful effects of toxic ingredients in synthetic personal care products.
- In addition, consumers are becoming well aware and more informed regarding the benefits of using organic and natural ingredients through various social media platforms.
- Curcumin extracts are commonly used in skincare products, these natural ingredients help improve skin texture, appearance, and tone. On the account of such benefits for skin health, the curcumin market is estimated to spur at a fast pace during the forecast years.
- Curcumin extracts are primarily used in skincare products due to their pigmentation inhibition antimicrobial activity and antioxidant capacity, all of which help to prevent various skin diseases. Due to such properties, the usage of curcumin extracts is expected to rise in the upcoming years.
- FMI predicts Germany, India, China, and the U.S to emerge as primary markets for curcumin sales. Of these, the U.S. curcumin market is expected to grow by 9.7% CAGR between 2021 and 2031.
Competitive Landscape
BioMax Life Sciences, Hebei Tianxu Biotech Co., Ltd, JIAHERB, INC., Synthite Industries Ltd, BioThrive Sciences, Herboveda India Pvt. Ltd, Sabinsa Corporation, The Green Labs LLC, WackerChemie AG, Hindustan Mint & Agro Products Pvt. Ltd., Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd., Helmigs Prima Sehejtera P.T, SMP Nutra are some of the key companies profiled in the full version of the report.
Due to this increasing demand for curcumin-based products, manufacturers are focusing on expanding their production facilities through strategic collaborations, mergers, and acquisitions. Apart from this, curcumin manufacturers are investing in research and development to diversify applications of curcumin in various end-use sectors.
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More Insights into the Curcumin Market
The U.S is anticipated to dominate the curcumin market in the global skincare sector as it accounted for 81.1% of the total sales in the North American region. Sales perspective in Canada is projected to exhibit double-digit growth through the course of the assessment period.
Increased usage of curcumin in the food and beverage industry as a natural food colorant is offering lucrative growth opportunities for the market in the U.S. Curcumin has been used in a range of products such as canned beverages, baked products, dairy products, yogurts, ice cream, yellow cakes, cookies, popcorn, candy, cake icings, and others.
One of the key reasons for rising sales in the curcumin market is due to its advanced natural color blending solutions and sophisticated microencapsulation techniques for natural color extraction and stabilization as natural food colorant is propelling growth in the market.
The second largest market share comes from Europe. Germany accounted for a total market share of 16.3% in 2021, reveals FMI. Owing to the increased popularity of vitamins and nutritional supplements in Germany is driving growth in the global market.
Consumers in East Asian countries are increasingly getting concerned about their health, due to which China estimated a sales valuation of US$ 6.8 Mn in 2021. Widespread awareness to seek out healthy products while avoiding those that are deemed unhealthy, including sugar, fat, and salt, is marking an impressive growth of curcumin in the East Asian market.
According to FMI estimations, India is predicted to dominate the South Asian curcumin market as it accounted for 45.2% of the global market share in 2021. With changing consumer preferences toward high-quality products and natural ingredients, manufacturers are constantly looking for new ways to improve the efficacy of their ingredients and products.
The Latin American market is predicted to showcase a positive growth rate during the forecast years since it accounted for 27.6% of the global market share in 2021. Owing to the rising demand for organic species and herbs in medicinal products is expected to propel sales in Brazil over the forecast period.
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Curcumin Market by Category
By Nature:
- Organic
- Conventional
By Form:
- Powder
- Liquid
By Application:
- Heart Health
- Brain Health
- Stress/Anxiety Relief
- Anti-inflammation
- Antioxidant
- Flavorant & Colorant
By End-Use:
- Dietary Supplements
- Food Products
- Herbal & Medicinal Products
- Cosmetics
Table of Content
1. Market Overview
1.1. Market Coverage / Taxonomy
1.2. Market Definition / Scope / Limitations
2. Scenario Assessment of the Impact of COVID-19 on Curcumin Market
2.1. Current Scenario / Immediate Actions
2.2. Global Curcumin Market Forecast Scenario Comparison of Annual Growth Rates for Short Term (2021-2025) and Long Term (2026-2031)
2.3. Key Factors Impacting the Market
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Technological Advancements /Shift in technology
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