Curcumin Market-Global Industry Analysis and Forecast (2023-2029)

Curcumin Market reached a value of US $ 72.67 Bn. in 2022. Pharmaceutical is one of the dominating segment of the Global Curcumin Market.
Curcumin Market Overview:
Curcumin is a bright yellow-colored, naturally occurring bioactive chemical compound derived commercially from the turmeric plant's dried rhizome. It contains anti-inflammatory, anti-oxidative, anti-fungal, and anti-bacterial effects and is high in zinc, magnesium, calcium, iron, and potassium. It is used to relieve pain and cure a variety of medical conditions, including jaundice, bleeding, and hematuria. Curcumin also helps to reduce weariness, exhaustion, and liver inflammation. It's also utilized as a yellow food coloring and addition in a variety of foods. As a result, it is widely used in the production of nutraceutical items, as well as food and drinks.

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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.
Curcumin Market Dynamics:
Curcumin is hydrophobic and lipophilic, and its pharmacological application is mostly based on its traditional therapeutic use. Several research is also being conducted to use different nanoparticles, such as dendrimers, polymeric nanoparticles, and nanogels, as delivery vehicles for Curcumin in the treatment of cancer and the treatment of various neurological illnesses. It has been shown to offer major health advantages including the ability to prevent diseases such as Alzheimer's, heart disease, and cancer. These factors are driving the curcumin market growth across the globe.

According to a 2018 report by the Blue Cross Blue Shield Alliance, diagnoses of serious depression have grown by 33% in the United States since 2013, affecting 9 billion people. According to a WHO assessment of the global situation, more than 300 Billion individuals of all ages suffer from depression. Curcumin is a natural antidepressant that is just as effective as pharmaceuticals in treating depression symptoms. The unexplored curcumin market is poised for exponential growth, a product's uniqueness and demand for depression treatments are expected to drive the market growth across the globe.

Increased consumer awareness of the product's health benefits and rising medical value will boost demand in other regions of the world. During the forecast period, a shift in consumer trends and increased awareness about the benefits of adopting organic and natural components in medical, cosmetics, and food applications will also boost product demand.

According to the World Health Organization, 17.9 Billion people die each year from cardiovascular diseases (CVDs), accounting for 31% of all fatalities worldwide. Furthermore, the organization has identified depression and a poor diet as the leading causes of diseases. As a result, curcumin, which has excellent medicinal and nutritional properties and is effective in conditions such as depression, obesity, and CVDs, is expected to propel the market to great growth on a global scale.

The demand for the product has increased in the United States in recent years as customers became more aware of its pharmaceutical characteristics and health advantages. The substance is also utilized extensively in tissue engineering, and firms are progressively investing in research to expand its use in the pharmaceutical industry, owing to its non-toxicity. Consumers in developed economies are fully aware of these research findings, therefore high demand is expected from nations such as the United States, Denmark, and Germany.
Curcumin Market Segment Analysis:
Based on the Application, the Curcumin Market is segmented into Pharmaceutical, Food, Cosmetics, and Others. The Pharmaceutical segment held the largest market share accounting for 52.3% in 2022. The segment growth is attributed to growing use of the product in the medical industry. Curcumin has been used to treat infections and inflammation in traditional Asian herbal medicines for ages. Pharmaceutical industries are innovating and doing research on curcumin-based medicines in the form of powder, capsules, and syrups for the treatment of numerous diseases and health problems such as healing wounds, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. These factors are driving the segment growth across the globe.

The Cosmetics segment is expected to witness significant growth at a CAGR of 12.1 % during the forecast period. The antioxidant, anti-inflammatory, and antiaging properties of the substance play a key role in its cosmetic application. In addition, changing consumer lifestyles and increasing spending on cosmetic products are expected to boost the product demand for this segment during the forecast period.
Regional Insights:
North America region held the largest market share accounted for 39% in 2022, and is expected to grow at a CAGR of 12.9% during the forecast period. The region's growth is attributed to the increased product demand in the pharmaceutical and food and nutritional supplement industry. Several luxury cosmetic brands are based in North America, are preferring curcumin products over other ingredients in their products, which is expected to boost the product demand during the forecast period.

Asia Pacific region is expected to witness significant growth at a CAGR of 11.83% during the forecast period. The growing consumer awareness about products drives the market growth in the region. Europe region is expected to witness rapid growth at a CAGR of 13.2 % during the forecast period. The well-established personal care and cosmetics industry along with major consumers and producers in Western European countries such as Italy, Germany, and Spain are driving the Curcumin market growth in the region.

The objective of the report is to present a comprehensive analysis of the Curcumin Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Curcumin Market dynamic, structure by analyzing the market segments and projecting the Curcumin Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Curcumin Market make the report investor’s guide.
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Curcumin Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 72.67 Bn.


Forecast Period 2023 to 2029 CAGR:
13.8%
Market Size in 2029:
US $ 179.62 Bn.


 Segments Covered:
by Application
Pharmaceutical
Food
Cosmetics
Others



Curcumin Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Arjuna Natural Pvt Ltd.
2. Biomax Life Sciences Limited.
3. Helmigs Prima Sehejtera
4. Herboveda India Pvt. Ltd.
5. Hindustan Mint & Agro Products Pvt. Ltd.
6. Konark Herbals & Healthcare
7. Rosun Natural Products Pvt. Ltd.
8. Sabinsa Corporation
9. Star Hi Herbs Pvt. Ltd.
10. SV Agrofood
11. Synthite Industries Ltd.
12. Wacker Chemie AG.
13. The Synergy Company
14. Vitamaze GmbH
15. BioThrive Sciences
Frequently Asked Questions:
1] What segments are covered in the Curcumin Market report?
Ans. The segments covered in the Curcumin Market report are based on Application.

2] Which region is expected to hold the highest share in the Curcumin Market?
Ans. The North America region is expected to hold the highest share in the Curcumin Market.

3] What is the market size of the Curcumin Market by 2029?
Ans. The market size of the Curcumin Market by 2029 is US $ 179.62 Bn.

4] What is the forecast period for the Curcumin Market?
Ans. The Forecast period for the Curcumin Market is 2023-2029.

5] What was the market size of the Curcumin Market in 2022?
Ans. The market size of the Curcumin Market in 2022 was US $ 72.67 Bn.