New York, March 20, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Curcumin Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by Category (Organic and Conventional), Application (Pharmaceuticals and Nutraceuticals, Food and Beverages, Personal Care, and Others), and Geography”, the global curcumin market revenue is exceeding USD 135.5 million by 2028 from USD 73.8 million in 2021; it is expected to record a CAGR of 9.1% from 2022 to 2028.
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Global Curcumin Market: Competitive Landscape and Key Developments
A few leading players operating in the curcumin market are Wacker Chemie AG; Arjuna Natural; Herboveda; Rosun Groups; SabinsaCorp; Glanbia plc; Bioprex Labs; Xi'an Green Spring Technology Co., Ltd; The Green Labs LLC; and SV AGROFOOD.
They are focused on developing innovative products to meet the changing requirements of consumers.
In April 2019, Nuvothera, Inc., an American biotech company, announced the launch of a new 'Super-micronized Turmeric Curcumin supplement to meet the increasing demand for curcumin-based beverages. The product launch is expected to assist the consumer in reducing their dependence on prescribed medicines.
Global Curcumin Market – Report Scope:
| Market Size Value in | USD 73.8 million in 2021 |
| Market Size Value by | USD 135.5 million by 2028 |
| Growth rate | CAGR of 9.1% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Category, Application, and Geography |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Curcumin is a bioactive compound found in the roots of Curcuma longa, also known as turmeric. The demand for curcumin is mainly attributed to increasing consumer awareness regarding its benefits, rising medicinal value of curcumin to treat various diseases, and changing consumer preference toward natural and organic ingredients in food, medicine, and cosmetic products. Turmeric is a widely used medicinal herb in Chinese medicine, Ayurvedic, and Unami medicine as a key element of natural remedies for treating various pathologies, including atherosclerosis, liver disease, diabetes, rheumatism, and oncological and infectious illnesses.
Rising Demand from Various Industries is Fueling Global Curcumin Market Growth:
Companies are actively looking for ways to increase the effectiveness of ingredients and products. The application of turmeric and turmeric-derived ingredients is increasing as manufacturers are becoming familiar with its beneficial properties. In 2021, Food Trending named turmeric one of the most sought-after ingredients due to its anti-inflammatory and immune-boosting properties. Ingredient manufacturers are likely to capitalize on its popularity and develop turmeric-derived ingredients with higher levels of effectiveness. In addition, several new products containing turmeric have been launched, and more innovation is expected in the future. In 2022, OmniActive Health Technologies launched its Curcuwin Ultra+ ingredient. This product is marketed as being 144 times more bioavailable than the standard curcumin at the same dose. Furthermore, the company states that absorption is 40% faster compared with the standard extract.
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Curcumin Market: Segmental Overview
Based on category, the curcumin market is segmented into organic and conventional. The conventional segment accounted for a larger market share in 2021. The growth of conventional curcumin can be credited to the inherent properties, such as anti-cancer, antioxidant, and anti-inflammatory properties. It is also widely used in skin-care applications, including the prevention of ringworms, eye infections, leech bites, sore skin, bruising, and swelling, which, in turn, is anticipated to drive the growth of conventional curcumin over the forecast period. Conventional curcumin is an active ingredient commonly extracted from turmeric and ginger. Turmeric is widely consumed in the Southeast Asian countries in both food and medical products due to its therapeutic properties.
Based on application, the curcumin market is segmented into pharmaceuticals & nutraceuticals, food & beverages, personal care, and others. The food & beverages segment accounted for the largest market share in 2021. Curcumin is widely accepted as a functional ingredient and supplement in sports and performance drinks, energy drinks, ready-to-drink teas, and others. Health drinks containing curcumin as an active ingredient are trendy among wellness-minded individuals. Consumers include curcumin in their diets to manage joint-related problems, liver health, and other health-related issues. However, poor solubility and sedimentation make curcumin supplements visually hideous. Therefore, to incorporate curcumin in food & beverages without compromising the visual appeal and taste, manufacturers are using innovative techniques to improve final product delivery. For instance, in 2020, Sabinsa Corp. featured dispersible curcumin and functional grass ingredients at Expo West. Sabinsa Corp's Curcumin C3 Power Liquid was an award winner at Vitafoods Asia 2019 in Singapore for the best functional beverage.
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The curcumin market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific holds the largest share of the curcumin market. The market growth in Asia Pacific is attributed to increasing consumer inclination toward using natural ingredients, rising demand from the traditional medicine industry of China and India, and increasing requirements from the food & beverages industry in the region. In addition, the demand for curcumin has surged in North America owing to expanding food & beverages and pharmaceutical industries. Consumer inclination toward organic and natural products, coupled with a rise in awareness about the health benefits of curcumin, has surged the demand for curcumin in the region. However, the COVID-19 pandemic hampered the curcumin market growth due to interrupted supply chains, which resulted in a shortage of raw materials and products.
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