Curcumin Market size is estimated to grow at over 11.2 % CAGR between 2023 and 2032, attributed to the rising awareness about the health benefits of the product such as its antioxidative and anti-inflammatory properties. The shifting mindset of health-conscious consumers towards the use of natural and plant-based products have driven the usage of curcumin.
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There is wider product usage in pharmaceuticals and nutraceuticals for managing chronic ailments such as cardiovascular diseases, arthritis, and cancer, the cases of which are ever-increasing. For instance, as per CDC.gov, in 2021, around 695,000 people died due to cardiovascular diseases in United States.
|Curcumin Market Size in 2022:||70.32 Million (USD)|
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||11.2%|
|2032 Value Projection:||148.56 Million (USD)|
|Historical Data for:||2018 to 2022|
|No. of Pages:||160|
|Tables, Charts & Figures:||239|
|Pitfalls & Challenges:|
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Further, the shift toward clean-label and functional components has encouraged food manufacturers to use curcumin into their product’s. Its radiant yellow color, flavor-enriching properties, and health benefits have made it a coveted ingredient for functional foods, beverages, and organic colorants. The cosmetics and personal care sector has also incorporated it due to its skin-friendly attributes and anti-aging properties. The variation of curcumin products into non-food sectors accentuates its versatility, contributing a positive track for the curcumin market growth in the coming years.
Limited accessibility of high-grade curcumin extracts acts as a significant restraint for the industry. Regulatory constraints and the compliance necessities with stringent quality standards, along with high cost and price fluctuations also make the market outlook difficult for the players. Moreover, the low bioavailability while consumed orally leads to reduced absorption of curcumin in the human body. This lack of availability and efficacy also impacts the confidence of consumer and reduces the products demand, hampering the market growth.
The Covid-19 pandemic had a significant impact on the growth of curcumin market. The product demand surged to some degree owing to its health benefits and rising use of immunity-boosting supplements by health-conscious consumers. Curcumin helped in extending its benefits in health and well-being of people. However, disruption in supply chain, restraints on transportation of raw materials, and closure of manufacturing units led to the shortage in production and supply of curcumin-based products.
Increasing demand for curcumin-based products in the dietary supplement sector is a prominent trend. Rising awareness and health-consciousness are driving the consumers toward natural and plant-based foods. Curcumin is further used in functional foods and beverages as consumers look for natural supplements to enhance the immune system and control inflammatory conditions. All these factors push the product demand with the prevailing interest in preventive health measures.
Curcumin was earlier being used in traditional cuisine and herbal medicine and it is now finding its way into the non-food sectors. It is specifically being used in cosmetic and personal care industry owing to its anti-inflammatory properties. The product is also vividly used in pharmaceuticals, pet supplements and as natural colorants showing its adaptability and versatility in several industries.
Additionally, the rising R&D activities act as a significant trend in the curcumin market growth. Both the academia and industry players are investing in the research to improve the bioavailability of it, explore new delivery methods and introduce new formulations. For instance, Indian Association for the Cultivation of Science, have developed a novel method by which curcumin can be combined into drug nano formulations. Similar studies will address some of the limitations linked to the stability of the product thus increasing its possible applications, shaping the curcumin industry dynamics.
The cosmetic application segment will expand at 12% growth rate through 2032, owing to the antiseptic properties of the product.
Europe curcumin market is poised to observe around 13% CAGR till 2032, owing to the inclination towards the use of plant-based and natural products in the region. Interest among European people in using traditional methods has impelled the product demand in households as well as in cosmetic formulation. Curcumin is also used in dietary supplements and pharmaceuticals. Besides, the strict rules and regulations setup by the European Union that focus on quality and safety of the product, are encouraging the industry players to develop high quality products. All these factors collectively drive the growth of Europe market.
Leading companies in the curcumin industry, including Biomax Life Sciences, are using innovative methods to expand their regional footprint by strategic partnerships, mergers, and product launches. For instance, the company introduced advanced bioavailability- enriching technologies such as BioCurc® formula, which considerably enhances the efficiency of curcumin absorption in consumer’s body. Similar steps are being undertaking by other major market players, namely:
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