QY Research recently published a research report about the global curcumin market. The report, titled “Global Curcumin Market Report, History and Forecast 2014-2026, Breakdown Data by Manufacturers, Key Regions, Types and Application”, provides a detailed analysis of the ever-changing market dynamics. The research report discusses the reasons for the growing consumption of curcumin and the changing perspective towards it. The growing awareness about the health benefits of curcumin amongst the cosmetic and food and beverages industry is expected to be key growth driver for the overall market.
According to the research report, the global curcumin market was worth US$130 mn in 2018 and is expected to be worth US$170 mn by the end of 2025. Between the forecast years of 2019 and 2025, the global market for curcumin is expected to surge at a CAGR of 3.0%.
Global Curcumin Market: Drivers
In recent years, there has been a substantial rise in the demand for curcumin, a bioactive compound that is derived from the root of Curcuma long. Also known as a turmeric, the demand for curcumin shot up as the world realized its plethora of benefits for treating bacterial, fungal, viral, and painful ailments. Historically, curcumin has also been used for treating anti-inflammatory conditions such as osteoarthritis and arthritis. The growing awareness about this bioactive compound in the Western medicine has generated interest around it.
The growing usage of curcumin in food, beverages, wide range of cosmetic products, and pharmaceutical has led to a consistent demand. Awareness about ayurvedic medicines is also expected to give the global curcumin market a definite impetus. Emphasis on skincare with rising disposable income and improving lifestyles has also generated a massive interest in curcumin as it has several beneficial properties.
Global Curcumin Market: Segmentation
On the basis of product, the global curcumin market is segmented into food grade, cosmetic grade, and pharmaceutical grade. Curcumin finds application in industries such as food and beverage, pharmaceutical, and cosmetics. The report predicts that the pharmaceutical segment will lead the global market due to escalating demand for curcumin-based supplements. The recent discovery of curcumin in treating Alzheimer’s has spiked its demand in the pharmaceutical industry exponentially.
Global Curcumin Market: Regional Segmentation
In terms of region, the global curcumin market is segmented into North America, Asia Pacific, Europe, Central and South America, and the Middle East and Africa. Presently, Asia Pacific leads the global curcumin market due to usage of turmeric as an essential ingredient in cooking staple diets. However, North America and Europe are expected to grow at a steady rate as the food and beverages and pharmaceutical industries realize the importance of curcumin for delivering a spectrum of benefits.
Global Curcumin Market: Competitive Landscape
Some of the leading companies operating in the global curcumin market are Synthite Ind, Indena, Biomax, K Patel Phyto, Arjuna, Naturite, Konark, Arpan, Star Hi Herbs, Guangye Natural, Zhongda Bio, and others. There is a strong presence of players in the Asia Pacific region as Indian companies remain at the forefront of production. However, the nature of competitive landscape remains fragmented as the entry barrier is low in the overall market.
Full Report Overview@ https://www.qyresearch.com/index/detail/1185569/global-curcumin-market