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Increase in the scope of application of curcumin in the cosmetic and Pharmaceutical industry are the major factors that drive the global curcumin market.
Rise in consumer awareness regarding health benefits of curcumin, growth in demand for herbal nutritional supplements” - Allied market Research PORTLAND, OREGON, UNITED STATES, May 12, 2023 /einpresswire.com / -- Surge in consumer awareness regarding the health benefits of curcumin and innovations in skincare products and pharmaceutical using curcumin drive the growth of the global curcumin market . However, availability of low-priced synthetic food products and challenges faced in formulation of curcumin-based productshinder the market growth. On the other hand, growing application of curcumin in the cosmetic and pharmaceutical industry create new opportunities for the market player in the coming years.
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The global curcumin market was valued at $52.45 million in 2017, and is projected to reach $104.19 million by 2025, registering a CAGR of 8.9% from 2018 to 2025. In 2017, the pharmaceutical segment accounted for more than 50% share of the global curcumin market in terms of value.
Leading market players analyzed in the research include Phyo life Sciences, Konark Herbals & Health Care, BioThrive Sciences, SV Agrofood, Arjuna Natural Extracts Ltd., NOW Foods, Herboveda India Pvt. Ltd., Star Hi Herbs Pvt. Ltd.,Biomax Life Sciences Ltd. andSynthite Industries Ltd.
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Key Findings of the Curcumin Market:
The pharmaceutical segment was the highest contributor to the curcumin market in 2017, and is projected to grow at a CAGR of 9.1%.
Europe is the quickest developing locale enlisting a CAGR of 9.5% over the figure time frame. Developing interest from purchasers combined with administrative help from the European Food Safety Association (EFSA) is expected to fuel the growth of the Europe market.
In 2017, North America was the most elevated donor regarding quality and volume and is projected to grow at the most astounding CAGR of 9.0% from 2018 to 2025.
In 2017, Asia-Pacific accounted for almost 14% of the share in terms of value in the global curcumin market and is projected to grow at a significant CAGR of 8.2%.
China accounted for the highest curcumin market share accounting approximately 36.5% in the Asia-Pacific region, in 2017.
In 2017, the food & beverage segment accounted for 33.2% of curcumin market share and is expected to grow at significant CAGR of 9.5%.
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Based on region, North America contributed the highest share, accounting formore than halfof the total market share in 2017, and will maintain its dominance throughout the forecast period. However, Europe is expected to grow at the highest CAGR of 9.5% from 2018 to 2025.
David Correa
Allied Analytics LLP
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