Curcumin Market will grow by 11.3% with Sales of Powder Curcumin Projected to Cross US$ 60 Mn Mark in 2021: FMI
According to a recent market analysis by Future Market Insights (FMI), sales in the curcumin market are expected to surpass a valuation of US$ 279.3 Million in 2031, rising at a CAGR of around 11.3% over the forecast period.
A recent market study published by Future Market Insights (FMI) on the global curcumin mar...
Rising concerns regarding harmful effects of artificial ingredients in food products are spurring demand for clean label food products and ingredients. Consumer dissatisfaction with synthetic food products is compelling food manufacturers to incorporate natural and plant-based ingredients for flavor and color.
Research indicates that tar-based artificial colors, such as erythrosine aluminum lake, brilliant blue aluminum lake, allura red, and sunset yellow, cause cancer, brain tumors, and hypersensitivity in children, and are thus widely criticized for their contents.
Concerns about side effects of synthetic and chemicals additives used in food and beverages, cosmetics and personal care products, and pharmaceuticals are driving demand for natural alternatives. Natural and plant-based ingredients contain more beneficial nutrients than synthetic supplements.
As a result, manufacturers are focusing on launching new curcumin supplements with enhanced benefits in order to expand their product offerings and customer base. Curcumin continues to be one of the most important ingredient in the Indian spice industry. However, several studies have indicated its application in the nutraceutical industry. As per Nutrition Business Journal, curcumin was among one of the top ten bestselling supplements in 2016.
The primary function of curcumin is as an anti-inflammatory agent and an antioxidant, indicating functional health benefits in the nutraceutical market. The anti-inflammatory properties of curcumin help in treating joint pain and arthritis, diabetes, Alzheimer’s and other forms of dementia.
Apart from this, studies also have demonstrated effectiveness of curcumin in the management of alcohol liver conditions, cancer prevention, irritable bowel disease and others.
“Increasing adoption of curcumin in the packaged food industry as a natural colorant, along with rising demand for curcumin in the personal care and cosmetics industry for its anti-inflammatory benefits will continue augmenting growth of the global curcumin market through 2031,” says an FMI analyst.
- The U.S. is estimated to account for more than 79.0% of the North American market in 2021, supported by increased consumption of curcumin-derived protein products.
- China is estimated to account for over half of sales registered in the East Asia market share in 2021.
- Germany is expected to dominate the Europe curcumin market, holding 16.3% of the total market share in 2021.
- India will emerge as an attractive curcumin market, commanding over 45.2% of sales registered in South Asia in 2021.
- Curcumin applications as an antioxidant are estimated to hold nearly one-third of the total curcumin market share in 2021.
Key players operating in the global curcumin market are focusing on production facility expansion to cater to growing demand for natural and organic ingredients. Apart from this, manufacturers are implementing various strategies such as marketing and promotional activities, strengthening distribution channel and adopting sustainable production to gain a competitive edge.
Some of the leading companies offering curcumin are BioMax Life Sciences, Herboveda India Pvt Ltd., Hebei Tianxu Biotech Co. Ltd., JIAHERB Inc., Synthetic Industries Ltd., BioThrive Science, Sabinsa Corporation, The Green Labs LLC., WackerChemie AG, Hindustan Mint & Agro Products Pvt Ltd, Helmings Prima Sehejtera P.T, Arjuna Natural Extracts Ltd., SMP Nutra, SV Agrofoods, Star Hi Herbs Pvt Ltd. and others.
More Insights into the Curcumin Market Report
FMI, in its new offering, provides an unbiased analysis of the curcumin presenting historical demand data (2016-2020) and forecast statistics for the period from (2021-2031). The study divulges compelling insights on the demand for curcumin based on nature (organic and conventional), form (powder and liquid) application (heart health, brain health, stress/anxiety relief, anti-inflammation, anti-oxidant and flavorant & colorant) and end-use (dietary supplements, food products, herbal & medicinal products, and cosmetics) across seven major regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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