New York, United States, April 15, 2024 (GLOBE NEWSWIRE) -- The Global Curcumin Market Size is Expected to Grow from USD 80.63 Billion in 2023 to USD 206.45 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 9.86% during the projected period.
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Curcumin is a natural dyestuff also known as diferuloylmethane, found in the root of golden spice turmeric (Curcuma Longa) and in Curcuma xanthorrhiza oil. It is an active ingredient that provides multiple health benefits and exhibits roles as a metabolite, anti-inflammatory agent, antineoplastic agent, hepatoprotective agent, flavoring agent, biological pigment, nutraceutical, an antifungal agent, dye, a lipoxygenase inhibitor. Due to these properties, it is extensively used for the treatment and supportive care of clinical conditions like proteinuria, breast cancer, multiple myeloma, depression, and Non-Small Cell Lung Cancer (NSCLC) and prevention of various diseases such as Alzheimer's, coronary heart diseases, and cancer. Curcumin has shown good tolerability and safety profiles during clinical trials of curcuminoids, at doses between 4000 and 8000 mg/day and doses up to 12,000 mg/day of 95% concentration. Thus, curcuminoids have been approved as “Generally Recognised As Safe” by the US Food and Drug Administration. Despite proven efficacy against numerous experimental models, poor bioavailability due to poor absorption, rapid metabolism, and rapid systemic elimination have been shown to limit the therapeutic efficacy of curcumin. Curcumin combined with piperine significantly increases the bioavailability. Curcumin is also used in skin-care products to prevent skin ailments like ringworms, eye infections, leech bites, sore skin, bruising, and swelling which augment the market growth. The rising awareness and consumer inclination towards turmeric-based products including food products, medicinal, and cosmetic products likely to drive the market. On the contrary, the availability of low-cost substitutes as food additives in pharmaceutical and dye products restrains the market.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Curcumin Market Size, Share, and COVID-19 Impact Analysis, By Nature (Organic, and Conventional), By Application (Food & beverages, Pharmaceuticals, Cosmetics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023–2033."
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The conventional segment dominates the market with the largest revenue share through the forecast period.
Based on nature, the global curcumin market is segmented into organic, and conventional. Among these, the conventional segment is dominating the market with the largest revenue share through the forecast period. The ease of availability and low cost of conventional curcumin products. Higher yield as compared to organic with consistent quality.
The pharmaceutical segment is witnessing rapid CAGR growth through the forecast period.
Based on the application, the global curcumin market is segmented into food & beverages, pharmaceuticals, cosmetics, and others. Among these, the pharmaceutical segment is witnessing rapid growth through the forecast period. The antioxidant, anti-inflammatory, and anti-cancer properties of curcumin make it a good ingredient to utilize in pharmaceutical industries. Additionally, the growing consumer inclination towards traditional medicine is expected to boost the curcumin market.
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Asia-Pacific dominates the market with the largest market share over the forecast period.
Asia-Pacific dominates the market with the largest market share over the forecast period. The rising demand for curcumin from the food & beverage industry as a flavoring and coloring agent in countries like India, China, and Bangladesh propels the market in the region. The growing awareness about traditional curcumin medicine and increasing consumption leads to promoting the curcumin market in the region. Turmeric is extensively consumed in the South East Asian countries in both food and medical products thus enhancing the market growth in the region.
North America region is expected to grow the fastest during the forecast period. The expansion of the pharmaceutical and food & beverage sector in the North American region is expected to increase the market growth in the region. The growing awareness regarding new organic-based products and the launch of ranges of natural products augmented to rise in the curcumin market. Additionally, innovation and a rising inclination towards natural products are enhancing the market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Curcumin market are Biomax Life Sciences Ltd., Konark Herbals and Health Care Pvt. Ltd., Arjuna Natural Pvt. Ltd., Hindustan Mint & Agro Products Pvt. Ltd., SV Agrofood, Kothari Phytochemicals & Industries Ltd., Herboveda India Pvt. Ltd., WackerChemie AG, Synthite Industries Ltd., Star Hi Herbs Pvt. Ltd., SabinsaCorp., Helmings Prima Sehejtera PT, Tri Rahardja PT/Javaplant, Sydler Group of Companies, Vidya Herbs Pvt. Ltd., and Others Key Players.
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Recent Developments
- In In February 2023, Herbalife incorporated nanotechnology for the development of a new curcumin-based supplement, which recently debuted in Indonesia.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global curcumin market based on the below-mentioned segments:
Global Curcumin Market, By Nature
- Organic
- Conventional
Global Curcumin Market, By Application
- Food & beverages
- Pharmaceuticals
- Cosmetics
- Others
Global Curcumin Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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