DUBAI, UAE, Nov. 16, 2021 /PRNewswire/ — As per FMI, the worldwide curcumin market is estimated to achieve US$ 95.5 Mn in 2021. Growing utility of curcumin throughout meals & beverage, private care, cosmetics, and different industries will allow the curcumin market measurement to greater than triple, totaling US$ 279.3 Mn, compared to the US$ 86.2 Mn registered in 2020.
Curcumin is gaining recognition as a practical ingredient throughout the private care and beauty industries owing to its anti-microbial, antioxidant, anti-inflammatory properties. It’s more and more getting used for numerous skincare purposes comparable to prevention of ringworms, leech bites, bruising, eye an infection, and swelling amongst others. Pushed by this, the gross sales of curcumin are anticipated to develop at a powerful CAGR of 11.3% in the course of the forecast interval 2021-2031.
Rising shopper inclination in the direction of plant-based and pure meals merchandise will gasoline the demand for curcumin practical meals and medicines. Along with this, growing utility of curcumin dietary supplements within the beverage trade for the manufacturing of sports activities and efficiency drinks, ready-to-drink teas, and vitality drinks are anticipated to create profitable alternatives for the expansion of the market.
On the idea of nature, typical curcumin is projected to emerge as essentially the most enticing phase out there, accounting for greater than 87.3% of the entire curcumin gross sales in 2021. Growing utility of curcumin (turmeric yellow) and curcumin meals coloration in superfoods within the packaged meals sector and plant-based dietary supplements is favoring the expansion within the phase.
“Curcumin practical medicines is making deeper inroads within the healthcare sector. Their use within the remedy of most cancers, coronary coronary heart illnesses, and neurological problems for his or her cardio and neuroprotective advantages is anticipated to push development out there via the forecast interval,” says a FMI analyst.
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Key Takeaways from the Curcumin Market Examine
- The U.S. is estimated to stay the dominant market in North America, accounting for practically 81.1% of the regional gross sales by 2021.
- Germany is anticipated to emerge as a extremely profitable market in Europe, accounting for round 16.3% of the demand share within the area in 2021.
- India is anticipated to account for the most important share in South Asia, holding over 45.2% of the curcumin gross sales by the top of 2021.
- China is forecast to emerge as essentially the most remunerative market in East Asia, creating an incremental alternative of US$ 6.8 Mn via 2021.
- Among the many end-use verticals, the natural and medicinal product phase is projected to register the quickest development out there, increasing at 12% CAGR over the evaluation interval.
Key Drivers
- Growing use of curcumin as a pure coloring additive within the manufacturing of mustard, butter, popcorn, cheese, and yellow cake combine is fuelling the demand within the meals trade.
- Rising inclination in the direction of adoption of unpolluted label cosmetics and skincare merchandise is encouraging trade gamers to make use of pure and plant-based substances comparable to curcumin, which is in flip, driving the gross sales within the beauty phase.
Key Restraints
- Availability of low-cost substitutes comparable to artificial meals colorants is a major issue hindering the gross sales of curcumin.
- Unwanted side effects related to the consumption of curcumin comparable to constipation, gastroesophageal reflux, yellow stool, and abdomen ache amongst others is hampering the demand for curcumin.
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Aggressive Panorama
As per FMI, the highest 5 producers within the international curcumin market are estimated to account for practically 35-45% of the entire income share in 2021.
Main gamers are focusing of adopting development methods comparable to new product launch, manufacturing capability enlargement, merger, collaboration, and acquisition to extend their international presence and market share. As an example,
- In April 2019, Nuvothera, Inc., an American biotech firm, introduced launching a brand new Tremendous-mirconized Turmeric Curcumin complement to fulfill the growing demand for curcumin-based drinks. The product launch is anticipated to help the buyer cut back their dependence on prescribed medicines.
- In October 2018, Utilized Meals Sciences Inc., a pacesetter innovator of practical and natural substances within the pure merchandise trade, introduced launching its new product named CurcuFlow, a free-flowing curcumin extract. It’s designed for the producers to help them in reaching a stain-free and cleaner turmeric manufacturing.
Some of the important thing gamers working out there profiled by FMI are:
- BioMax Life Sciences
- Hebei Tianxu Biotech Co.,Ltd
- JIAHERB, INC.
- Synthite Industries Ltd
- BioThrive Sciences
- Herboveda India Pvt. Ltd
- Sabinsa Company
- The Inexperienced Labs LLC
- WackerChemie AG
- Hindustan Mint & Agro Merchandise Pvt. Ltd.
- Arjuna Pure Extracts Ltd.
- SV Agrofood
- Star Hello Herbs Pvt. Ltd.
- Helmigs Prima Sehejtera P.T
- SMP Nutra
- Others
Extra Priceless Insights on Curcumin Market
The newest report by FMI supplies an in depth evaluation of the worldwide curcumin market, offering credible insights into key issue driving the market via 2021 and past. The research additionally disclosed development projections in curcumin market with detailed segmentation:
By Nature:
By Kind:
By Software:
- Coronary heart Well being
- Mind Well being
- Stress/Anxiousness Aid
- Anti-inflammation
- Antioxidant
- Flavorant & Colorant
By Finish-Use:
- Dietary Dietary supplements
- Meals Merchandise
- Natural & Medicinal Merchandise
- Cosmetics
Area:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Center East & Africa
Key Questions Coated within the Report
- The report provides perception into curcumin market demand outlook for the forecast interval 2021-2031
- The market research additionally highlights projected gross sales development for curcumin market between 2021 and 2031
- Curcumin market survey identifies key development drivers, restraints, and different forces impacting prevailing tendencies and analysis of present market measurement and forecast and technological developments throughout the trade
- Curcumin market share evaluation, overlaying key corporations throughout the trade and protection of methods comparable to mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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