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The market is expected to reach over USD 85 million by 2023, projecting a healthy CAGR of 12.1% over the forecast period, 2018-2023. It has high applications in pharmaceutical segment due to its number of health-promoting effects like antiviral, anti-inflammatory, and antifungal properties.
Market Dynamics
Rising consumer health consciousness due to presence of artificial ingredients in food, medicines, and cosmetics are key aspects influencing the industry manufacturers to adopt for organic ingredients such as curcumin in the product formulation. Presence of anti-cancer, anti-inflammatory and anti-oxidation properties in medicines and cosmetics will drive curcumin market growth.
Curcumin based supplements have a huge market as they are easily available over the counter without the existence of government regulations. In addition, curcumin is also gaining popularity as an ingredient in cosmetic and herbal skin care products. Therefore, growing demand for ayurvedic and herbal skin care products is expected to drive the market during the forecast period.
The Global Curcumin Market by application is segmented into pharmaceuticals, food, cosmetics and others. The pharmaceuticals category dominates the curcumin market, with more than half of total market share. The growth in over the counter drug (OTC) market will lead to curcumin market growth in near future. Globally, the favorable government regulations and growing consumer awareness regarding the medicinal value of curcumin is driving the growth of the pharmaceutical segment.
Regional analysis
Developed markets such as North America has significant demand for the curcumin due to its high usage as a supplements. These supplements are broadly available on over-the-counter (OTC) without the existence of any specific norm and thus, have a huge growth potential in the region.
Asia-Pacific market was valued over USD 7.3 million in 2016. The region is an emerging area for the product market owing to the growing demand from cosmetics skin care manufacturers whose herbal and natural ingredient products are gaining fast penetration and one among the prominent ingredient used is curcumin. The region also accounts for 85% of the total global production of curcumin.
MAJOR PLAYERS: ARJUNA NATURAL EXTRACTS LTD, DOLPHIN ORGANICA, SABINSA, SYNTHITE INDUSTRIES, BIOMAX LIFE SCIENCES, HINDUSTAN MINT & AGRO PRODUCTS, STAR HI HERBS, HERBOVEDA INDIA, HELMIGS PRIMA SEJAHTERA, TRI RAHARDJA PT, HEBEI FOOD ADDITIVE, KONARK HERBALS & HEALTH CARE, WACKER-CHEMIE, VERDURE and OMNI-ACTIVE., amongst others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Market Dynamics
Rising consumer health consciousness due to presence of artificial ingredients in food, medicines, and cosmetics are key aspects influencing the industry manufacturers to adopt for organic ingredients such as curcumin in the product formulation. Presence of anti-cancer, anti-inflammatory and anti-oxidation properties in medicines and cosmetics will drive curcumin market growth.
Curcumin based supplements have a huge market as they are easily available over the counter without the existence of government regulations. In addition, curcumin is also gaining popularity as an ingredient in cosmetic and herbal skin care products. Therefore, growing demand for ayurvedic and herbal skin care products is expected to drive the market during the forecast period.
The Global Curcumin Market by application is segmented into pharmaceuticals, food, cosmetics and others. The pharmaceuticals category dominates the curcumin market, with more than half of total market share. The growth in over the counter drug (OTC) market will lead to curcumin market growth in near future. Globally, the favorable government regulations and growing consumer awareness regarding the medicinal value of curcumin is driving the growth of the pharmaceutical segment.
Regional analysis
Developed markets such as North America has significant demand for the curcumin due to its high usage as a supplements. These supplements are broadly available on over-the-counter (OTC) without the existence of any specific norm and thus, have a huge growth potential in the region.
Asia-Pacific market was valued over USD 7.3 million in 2016. The region is an emerging area for the product market owing to the growing demand from cosmetics skin care manufacturers whose herbal and natural ingredient products are gaining fast penetration and one among the prominent ingredient used is curcumin. The region also accounts for 85% of the total global production of curcumin.
MAJOR PLAYERS: ARJUNA NATURAL EXTRACTS LTD, DOLPHIN ORGANICA, SABINSA, SYNTHITE INDUSTRIES, BIOMAX LIFE SCIENCES, HINDUSTAN MINT & AGRO PRODUCTS, STAR HI HERBS, HERBOVEDA INDIA, HELMIGS PRIMA SEJAHTERA, TRI RAHARDJA PT, HEBEI FOOD ADDITIVE, KONARK HERBALS & HEALTH CARE, WACKER-CHEMIE, VERDURE and OMNI-ACTIVE., amongst others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
