Curcumin Market Forecast: Anticipated Surge with an 11.3% CAGR by 2033 | FMI Study
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USA to dominate North American curcumin market with 81.1% share, while Canada anticipates robust double-digit sales growth.
NEWARK, DELAWARE, UNITED STATES OF AMERICA, December 4, 2023 /EINPresswire.com/ -- The curcumin market1 is estimated to grow at an 11.3% CAGR between 2023 and 2033, from US$ 127.0 million in 2023 to US$ 369.2 million in 2033.The curcumin market is predicted to expand over the forecasted period due to rising consumer awareness of healthy living and the use of dangerous artificial compounds in food, medications, and other things. As a result of the dangerous substances present in personal care products, there is a growing demand for herbal skincare in the cosmetics industry.
A large number of health-conscious people striving to adopt the herbal way of life and natural therapies could be the primary driving reason behind market expansion. Cheaper synthetic foods could put a burden on the sector.
Curcumin use has lately increased, propelling the market forward due to rising health awareness, various health benefits of curcumin, and increased competition for organic and natural components.
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Leading a healthy lifestyle, an increase in demand for organic food items and traditional Ayurvedic formulations, and advancements in pharmaceutical and cosmetic products containing curcumin have all contributed to the worldwide curcumin market's expansion. Analysts predict that the cosmetics industry will grow modestly as new products such as topical treatments, face kits, and oils join the market.
Curcumin Market Key Points
· From 2023 to 2033, the UK curcumin market from pharmaceutical applications was worth more than US$ 15.5 million, owing to an increased emphasis on the marketing of capsules/tablets that help with the immune system, joint, and digestive health.
· The curcumin market in Asia Pacific is expected to increase at the second-fastest rate between 2023 and 2033. Because of the increased usage of turmeric in food goods, the region is expected to have higher demand.
· From 2017 to 2022, China, Japan, and South Korea increased at a CAGR of 16.8%, 15.6%, and 14.2%, respectively.
· With a value of US$ 130.8 million in 2022, North America was the largest regional market. Demand in this region is likely to be driven by rising demand for processed foods and curcumin-based health supplements.
Key Players:
· BioMax Life Sciences
· Hebei Tianxu Biotech Co.,Ltd
· JIAHERB, INC.
· Synthite Industries Ltd
· BioThrive Sciences
· Herboveda India Pvt. Ltd
· Sabinsa Corporation
· The Green Labs LLC
· WackerChemie AG
· Hindustan Mint & Agro Products Pvt. Ltd.
· Arjuna Natural Extracts Ltd.
· SV Agrofood
· Star Hi Herbs Pvt. Ltd.
· Helmigs Prima Sehejtera P.T
· SMP Nutra
Recent Development:
· February 2020: Arjuna Natural Pvt, Ltd., a Kerala-based curcumin manufacturer, announced a new product line of certified organic turmeric extracts, including clinically tested, bioavailable BCM-95 (Curcugreen). In addition to BCM-95 and Turmeric Extract 95%, Arjuna's full range of water-dispersible, oil-dispersible, and customised turmeric extracts will be available.
· Sabinsa Corp. will showcase dispersible curcumin and functional grass components at Expo West in 2020. Sabinsa Corporation's Curcumin C3 Power Liquid was named best functional beverage at Vitafoods Asia 2019 in Singapore.
· In July 2021, Vieroots Wellness Solutions has announced the launch of a unique product including Curcumin 95 and Medium-chain triglycerides (MCT) Oil. A powerful yet safe combination of MCT Oil and 95% pure curcumin has been developed to address the underlying causes of lifestyle disorders such as obesity, diabetes, hypertension, cardiovascular disease, and cancers.
· In September 2021, OmniActive Health Technologies will launch Curcuwin Ultra+, the newest supplement in its line of branded, extremely nutritious curcumin. Curcuwin Ultra+ is a natural alternative to assist joint and overall health benefits for on-the-go lifestyle habits, in addition to providing effectiveness at a low dose, synthesis flexibility, and outstanding organoleptic characteristics allowing for integration into challenging applications such as supplements and beverages.
· In 2019, Lipofoods, a functional food ingredient producer, launched Crushshine, a microencapsulated curcumin ingredient. The newly released product claims to be natural, vegan, and extremely soluble in nature. Crushshine is simply included into nutricosmetics and beauty drinks, which will expand its application areas.
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Key Segmentations:
By Nature:
Organic
Conventional
By Form:
Powder
Liquid
By Application:
Heart Health
Brain Health
Stress/Anxiety Relief
Anti-inflammation
Antioxidant
Flavouring & Colorant
By End-Use:
Dietary Supplements
Food Products
Herbal & Medicinal Products
Cosmetics
Authored By:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Explore FMI’s Extensive Coverage in the Food & Beverage Domain:
Curcumin food color market2 is expected to reach a market valuation of nearly US$ 323.0 Million by the year 2032, accelerating with a CAGR of 10.3 % between 2022 to 2032.
Antioxidants market3 likely to have produced US$ 5.3 billion by 2033, alongside a CAGR of 9.1% from 2023 to 2033.
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1 https://www.futuremarketinsights.com/reports/curcumin-market
2 https://www.futuremarketinsights.com/reports/curcumin-food-color-market
3 https://www.futuremarketinsights.com/reports/antioxidants-market
