Curcumin Market is Driven by Applications in Pharmaceuticals and Nutraceuticals Industry from 2022 to 2030

July, 2023 - Market Research Future has published a report on the global curcumin market.

Curcumin Market Highlights

Curcumin Market is projected to register a CAGR of 16.67% and reach a value of USD 199.89 million by 2030. Curcumin, also known as diferuloylmethane, is the main natural polyphenol found in the rhizome Curcuma longa. Curcumin is obtained by the solvent extraction of turmeric, the root of Curcuma longa and then purified through crystallization. Curcuma longa has been traditionally used in Asian countries as a medical herb for various pathologies due to its antimutagenic, anti-inflammatory, antioxidant, and antimicrobial properties.

The global curcumin market has been segmented by form, category, application, and region.

Based on form, the global curcumin market has been segmented into liquid and powder. The powder segment is expected to gain the larger revenue share and register the higher growth rate during the forecast period. Curcumin powder is used in various applications such as pharmaceuticals and nutraceuticals as it is convenient to use.

The global curcumin market has been classified, by category, as organic and conventional. The conventional segment is expected to be larger owing to the easy availability and lower prices of conventional curcumin as compared to organically grown curcumin. However, the organic segment is projected to register the higher CAGR during the forecast period due to the rising inclination of consumers for organic products.

The global curcumin products market has been categorized, by application, as food & beverage, pharmaceuticals and nutraceuticals, and others. The pharmaceuticals and nutraceuticals segment is projected to gain the largest share of the market due to the widespread use of curcumin in nutraceuticals. The high antioxidant activity of curcumin makes it a vital ingredient in many medicines. Curcumin is considered an antioxidant due to the presence of the β-diketone group; this has led to its use in ayurvedic medicines for treating allergies and asthma. However, the food & beverage segment is projected to exhibit the highest CAGR during the forecast period owing to the significant growth of the food & beverage industry where curcumin is widely used as a natural coloring agent.

The global curcumin market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, the rest of the world.

Asia-Pacific is projected to gain market dominance during the forecast period owing to the rising awareness about the health benefits of curcumin. The increasing demand for healthy and natural ingredients in the region is also boosting the sale of curcumin. However, the North American market is expected to register the highest growth rate during the forecast period with the US and Canada being the largest country-level markets.

Key Players

Some of the key players in the global curcumin market are Sabinsa Corporation (Germany), Rosun Natural Products Pvt. Ltd (India), Konark Herbals & Health Care (India), PT. Helmigs Prima Sejahtera (Indonesia), Star Hi Herbs Pvt. Ltd. (India), SV Agrofood (India), Arjuna Natural Extracts Ltd. (India), Hindustan Mint & Agro Products Pvt. Ltd. (India), Synthite Industries Pvt. Ltd. (India), and Herboveda India Pvt. Ltd. (India).