According
to the latest market report published by Transparency Market
Research, titled 'Curcumin Market: Global Industry Analysis
2018-2026', the revenue generated from curcumin has been estimated to
be valued over US$ 282.2 Mn in 2018, which is projected to increase
to US$ 465.8 Mn, at a CAGR of 6.5% during the forecast period
(2018-2026).
Tough
competition and fragmentation prevail in the global curcumin market.
The food processing industry has incorporated curcumin, predominantly
due to its various functional properties. The increasing consumption
of food supplements is one of the key factors that has a positive
impact on the curcumin market, as people with heart problems, brain
health problems, stress & anxiety issues, and inflammatory
conditions typically tend to consume curcumin, as it helps treat
various types of health issues.
The
growing demand for natural ingredients in skincare products from
consumers, which includes curcumin, helps in the growth of the
curcumin market. There are a few other factors that help in the
growth of the curcumin market, such as curcumin and curcumin-derived
products are gaining traction in dietary supplements, due to the
increasing awareness among consumers regarding curcumin and its
functions across the globe. Recently marketed as superfood, curcumin
has been traditionally used in Indian Ayurveda, due to its excellent
antioxidant and anti-inflammatory benefits. High demand for curcumin
usually comes from countries such as India and China, where a large
number of manufacturers are using curcumin as a popular ingredient in
cosmetic and skincare products. Currently, curcumin is being used as
an important ingredient in a wide variety of skincare products that
are marketed as herbal cosmetics in India, which is the largest
producer of turmeric, worldwide. Apart from this, curcumin has also
been used as an age defying agent, inhibiting the early aging and
sagging of skin. Curcumin provides a natural alternative to many
synthetic antioxidants used in beauty products and supplements
By
application, the antioxidant segment is estimated to account for
29.7% value share of the curcumin market in 2018, and is forecast to
reach 30.6% by the end of the forecast year 2026. The antioxidant
segment is expected to register a growth rate of 6.8% over the
forecast period 2018 to 2026. On the basis of nature, the
conventional curcumin segment is estimated to account for a more
significant growth rate in the global curcumin market over the
forecast period. On the basis of region, the North American curcumin
market is estimated to account for a significant revenue share of
45.1% in 2018, followed by Europe, in the global
curcumin market.
The
world population is increasing and becoming wealthier. There will be
more mouths to feed and more plates to fill. With a changing variety
of food and beverages, they tend to be consumed in different ways as
populations transition to the middle class, which is likely to impact
the demand for curcumin in the preparation of packaged and processed
food products.
Arable
land is decreasing as urbanization increases, and global water supply
will be an ongoing constraint, not to mention the impacts of climate
change on agricultural output. These supply constraints are also
impacting the feedstock from which curcumin is produced, and thus,
accelerating the need to find alternative ways to meet food demand.
Some
of the major companies operating in the curcumin market space are
Sabinsa Corporation, Synthite Industries Ltd., Biomax Life Sciences
Limited, Hebei Tianxu Biotech Co., Ltd, Jiaherb Inc., Herboveda India
Pvt. Ltd, The Green Labs LLC, and Wacker Chemie AG, among other
curcumin producers.
No comments:
Post a Comment