Curcumin Market size to exceed $145mn by 2027
Published Date: July 14, 2021 Authors: Kunal Ahuja, Amit Rawat
Curcumin Market size is set to surpass USD 145 Million by 2027, according to a new research report by Global Market Insights Inc.
Rising demand for ayurvedic personal care products is one of the major trends, supporting the curcumin industry growth. Numerous vendors in the cosmetic business are launching ayurvedic & herbal products to meet the increasing demand for organic & natural products, gaining a large industry share.
Growing demand for natural colorants in the food industry will fuel the curcumin market share over the forecast period
The food application segment is predicted to grow at a CAGR of over 12% from 2021 to 2027. Curcumin is a widely used flavor and colorant in food items including butter, margarine, cheese, mustard, and pickles. The increasing applications of curcumin in food & beverages owing to a rise in demand for natural colorants will support the product demand. In addition, curcumin is available in salt form, which is soluble in water. Due to this form, curcumin is used in various food applications including dairy products, baked products, canned beverages, yogurts, ice cream, biscuits, popcorn-color, cakes & cake icings, sauces, and cereals. With the increase in product awareness, it is also gaining popularity in fruit drinks, liquor, cakes, and jams. These wide applications of curcumin in different food products will accelerate segmental demand.
Browse key industry insights spread across 160 pages with 214 market data tables and 25 figures & charts from the report, “Curcumin Market Forecasts, By Application (Pharmaceutical, Food, Cosmetics), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
The well-established pharmaceutical industry in North America will propel the growth of curcumin
North America curcumin market is projected to surpass USD 75 million by 2027. North America is one of the largest curcumin markets and is anticipated to observe substantial growth over the forecast period owing to increasing product demand in several pharmaceutical applications. North America is one of the largest markets in the global pharmaceuticals industry. Curcumin is one of the major ingredients used in pharmaceutical products as it has high-quality medical & herbal properties.
Growth in curcumin-based supplements to improve various health issues is expected to support product penetration in North America. Moreover, these supplements are widely available over the counter (OTC) without the existence of any guidelines and hence have huge growth potential. Curcumin-based supplements are usually used to treat patients suffering from anorexia, sinusitis, tumors, gastric ulcers, arthritis, diabetic wounds, and many other diseases. Therefore, the advantages of curcumin are anticipated to increase the demand for curcumin-based supplements over the forecast period.
Key companies of the market are adopting various strategies such as new product development, research & development to innovate their product offerings, and performance enhancement globally. Major players operating across the curcumin market include Biomax Life Sciences, Synthite Industries, Hindustan Mint & Agro Products, Arjuna Natural Extracts, SV Agrofood, and Star Hi Herbs.