Impact Assessment of COVID-19 Outbreak on Curcumin Market

 

Curcumin Market: Overview

The rising demand of curcumin in cosmetic, food, and pharmaceutical industries is the main factor driving the growth of the global curcumin market. A surge in demand of curcumin is mainly due to the increasing awareness among  consumers regarding anti-inflammatory and anti-oxidant properties of  curcumin. In addition to this, the rising inclination of consumers towards organic products is another strong factor likely to propel the curcumin market during the forecast period.

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According to the latest market report published by Transparency Market Research, the global curcumin market is expected to reach a valuation of US$ 465.8 mn by 2026. The market was noted at a valuation of over US$ 282.2 mn in 2018. If this stand true, the global curcumin market is projected to rise at a steady 6.5% CAGR from 2018 to 2026.

global curcumin market

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Growing Demand for Natural Ingredients in Skincare Products to Fuel Curcumin market

The global curcumin market is classified on the basis of nature, form, application and end user. In terms of nature, the global curcumin market is segmented into organic curcumin and conventional curcumin. Among both of them, organic curcumin is likely to display highest CAGR during the forecast period. This is because of the increasing inclination of consumers towards organic based product. In addition to this, organic curcumin has relatively low side effects on consumers as compared to conventional curcumin.

On the basis of form, the global curcumin market is segmented into powder and liquid.  Among them, powder form is expected to display high demand in the coming years. This is due to their easy to store and transport properties.

Based on application, the global curcumin market is segmented into heart health, brain health, stress/anxiety relief, anti-inflammation, antioxidant, and flavorant & colorant. The global curcumin market is anticipated to rise owing to the immense health benefits offered by curcumin to consumers.

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From end user standpoint, the global curcumin market is segmented into dietary supplements, food products, herbal & medicinal products and cosmetics. Among all of them, herbal and medicinal product is expected to hold highest market share in the global curcumin market when compared to other segments.

North America to Continue its Dominance in Global Curcumin Market

In terms of region, the global curcumin market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.  Among all of them, North America is projected to account for the largest market share in the overall curcumin market. This is because of the high consumption of curcumin in the region. This is owing to the higher awareness regarding health benefits offered by curcumin. This plays a vital role in the growth of the curcumin maket in the region.

Some of the major companies operating in the global curcumin market are Synthite Industries Ltd., Sabinsa Corporation, Biomax Life Sciences Limited, Jiaherb Inc., The Green Labs LLC, and Wacker Chemie AG.

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