Curcumin Market Size, By Application (Pharmaceutical, Food, Cosmetics), Industry Analysis Report, Regional Outlook, Application Development Potential, Covid-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2021 - 2027

Industry Trends

Curcumin Market size exceeded USD 70 million in 2020 and is estimated to grow at a CAGR of over 11% from 2021 and 2027. Curcumin is widely used in the treatment of several severe diseases including cancer and Alzheimer’s. It is also used in the treatment of tumors, arthritis, and viral contagions, which will propel its demand in the pharmaceutical industry.
 

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Its several therapeutic properties in ayurvedic medicinal formulations, such as in the anti-inflammatory and antioxidant areas, will drive curcumin-based dietary supplement demand. The associated benefits of curcumin in lessening depression, metabolic syndrome, and managing lipid levels will also foster the curcumin market growth over the forecast timeframe.
 

The novel coronavirus has impacted every industry around the world. The demand side of the curcumin industry is positively impacted due to the COVID-19 pandemic, increasing its demand in the food and pharmaceutical industries. While on the supply side, the supply of curcumin has slowed down due to global lockdown and the temporary shutdown of manufacturing plants to prevent infection.
 

The transportation of finished goods and raw materials is also blocked due to worldwide lockdown. This factor may decline the profit margins of manufacturers, suppliers, and distributors in the market. India is one of the major producers of curcumin; however, the COVID-19 pandemic has extremely impacted the industry, causing huge losses to players in the regional market.
 

Curcumin provides both pain-relieving and anti-inflammatory effects; however, curcumin is not often recommended as it is rapidly metabolized with low absorption into the bloodstream that limits its properties. Therefore, this factor may restrict the growth of curcumin market in the current scenario. The U.S. Food & Drug Administration does not provide any regulation on curcumin-based supplements, so supplement effectiveness may vary from brand to brand and even from batch to batch. For instance, supplements that are labeled as containing over 95% of curcuminoids may contain more or less of the content. This factor may break the trust of consumers and may cause serious health effects when high-dose supplements are consumed.
 

The growing global cosmetic & personal care industry to fuel curcumin demand over the forecast timeframe

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The cosmetic application segment of curcumin market is anticipated to showcase a high CAGR of 12% over the forecast period and is expected to reach USD 7,063.8 thousand by 2027. Curcumin is majorly used in the cosmetic industry owing to its natural antiseptic & antibacterial properties to treat acne and marks.
 

Moreover, it is also used as an anti-aging and wrinkle formula in the cosmetic industry. The growing cosmetic industry due to changing consumer lifestyles and increasing spending on cosmetic products will support product adoption. The skincare market is also anticipated to benefit due to consumer preference for natural ingredients. Emerging countries including China and India have seen an incredible growth of such products in the past few years owing to the growing awareness of the side effects of synthetic products.
 

Growing demand for herbal products in Europe to support the curcumin market expansion

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Europe curcumin market is anticipated to witness over 13% CAGR between 2021 and 2027. The region is estimated to exceed USD 41,025.6 thousand by 2027. Growing research & development activities due to rising applications of curcumin in the treatment of cancer act as a key driving factor for the regional market demand.
 

Research & development and product innovation to accelerate market statistics

The global curcumin market is highly fragmented due to the presence of several regional and small manufacturers. Biomax Life Sciences, Synthite Industries, Hindustan Mint & Agro Products, Arjuna Natural Extracts, SV Agrofood, and Star Hi Herbs are some of the major industry players. Technological advancements in production, brand portfolio expansion, product development, and expansion of curcumin bioavailability are the key strategies adopted by market players.
 

In April 2021, Arjuna Natural Pvt. Ltd. revealed the result of its new study result, according to which the patented turmeric extract of the company is effective as paracetamol in dipping pain, joint stiffness, and other symptoms of knee osteoarthritis. The company’s product BCM-95 curcumin is a powerful anti-inflammatory for osteoarthritis of the knee. In 2018, the company was granted a patent on the "composition for use in treatment" by the European Patent Office (EPO). This patent is an addition to the 16 patents that Arjuna already has on its BCM-95 turmeric extracts.
 

In December 2020, Synthite Industries announced to launch NatXtra, a nutraceutical brand, in the Indian wellness & health market. The product is a combination of vitamins, botanical extracts, minerals, and bio-actives. This strategy will aid the company to expand in the growing health & wellness market in the Asia Pacific region.
 

The global curcumin market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons & revenue in USD Thousand from 2016 to 2027 for the following segments.

By Application

• Pharmaceutical
• Food
• Cosmetics
• Others (Solar PV and textile industry)

The above information has been provided for the following countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Malaysia
  • Indonesia
  • Thailand
  • South Korea
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE