Consumer awareness and availability of curcumin are expected to drive market demand.
Wilmington, Delaware, United States, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global curcumin market was estimated at US$ 362.0 million in 2022. A CAGR of 6.7% is anticipated from 2023 to 2031, resulting in US$ 608.2 million in 2031. Continual research into the health benefits of curcumin, as well as the development of improved formulations and delivery methods, may lead to the opening of new markets. Efforts are being made to enhance curcumin's bioavailability through nanotechnology, for example.
Many products are incorporating curcumin, making it more accessible to consumers. The increased availability of goods and services may contribute to the market's growth. A variety of regulatory approvals and developments can impact curcumin's market growth. Studies by the Federation of American Societies for Experimental Biology showed curcumin to have oxidative stress protection of 16% and skin-lightening properties of 8% when applied to UVA-damaged skin cells.
Biomedical research is underway to discover new therapeutic uses for curcumin. The discovery of new ways to treat various diseases and conditions may be made possible as scientists explore its molecular mechanisms and interactions within the body. According to some studies, curcumin possesses antimicrobial properties. Curcumin could be used in food preservation products, topical creams, oral care products, and other products due to antibiotic resistance concerns.
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Curcumin and other bioactive compounds are being investigated for synergies. New products may be developed when curcumin is combined with other natural compounds. A favourable regulatory environment can foster industry growth by supporting the inclusion of components such as curcumin in a wide range of products. Curcumin-based products can be encouraged through regulatory clarity and approvals.
Global Curcumin Market: Growth Drivers
Food, dietary supplements, and beverages that contain natural or plant-based ingredients are becoming increasingly popular. Turmeric contains curcumin, a powerful antioxidant and anti-inflammatory compound. Numerous health benefits have been attributed to curcumin, which makes it a popular food additive. Aside from its anti-inflammatory properties, curcumin also exhibits antioxidant and anticancer capabilities. As awareness of these potential health benefits grows, demand for curcumin-containing products is likely to increase.
The food and beverage industry is exploring new ways to utilize curcumin apart from supplements. Colorants and flavors are used in a lot of products, which drives its growth. The development of extraction technologies has improved the yields and cost-effectiveness of turmeric curcumin extraction. Curcumin can positively impact the market by making it more accessible to different industries.
Ayurvedic medicine has been using curcumin for centuries, but the demand for it has surged in recent years as traditional and alternative medicine gained in popularity. The trend of consumers seeking holistic and natural approaches to health is likely to continue in the future. Curcumin absorption is being researched and improved. Enhancing the bioavailability of products may help them gain traction.
Regulators may become more scrutinized as curcumin gains popularity. In order to ensure the stability of the curcumin industry and consumer confidence, clear regulations and standards will be essential. Sustainability and ethical sourcing are on the rise. Curcumin producers who follow ethical and environmentally friendly production practices may be able to gain a competitive edge.
Global Curcumin Market: Key Players
Few prominent players dominate the global curcumin market, capturing the majority of the market share. In order to reduce production costs, leading curcumin manufacturers are installing processing plants near turmeric fields.
Biomax Life Sciences Limited
Hebei Tianxu Biotech Co. Ltd
The Green Labs LLC
Wacker Chemie AG
Herboveda India Pvt. Ltd
The Green Labs LLC
Wacker Chemie AG
Key Findings of the Market Report
Based on form, organic curcumin is expected to drive demand in the future.
In terms of applications, anti-inflammation products are expected to gain popularity.
A growing awareness about herbal medicines is expected to drive demand for herbal and medicinal products over the next few years.
A significant portion of curcumin demand is expected to come from North America.
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Global Curcumin Market: Regional Landscape
North America is expected to have a growing market for curcumin in the coming years. Organic ingredients are becoming increasingly common in premium cosmetic products in North America, which will spur growth. Curcumin and other natural food colorings are used in a wide array of food and beverage products.
In North America, curcumin is most commonly used in pharmaceutical applications. Additionally, Curcuma longa (turmeric) consumption in the United States has increased in recent years, along with increased consumption of foods and supplements, making the region a leader in the turmeric market.
Global Curcumin Market: Segmentation
Flavorant & Colorant
Herbal & Medicinal Products
Middle East & Africa
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