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Curcumin Market expected to surpass a valuation of US$ 279.3 Million in 2031
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The curcumin market is projected to reach $279.3 million by 2031, driven by health benefits and demand for natural ingredients. Key markets include the U.S., India, Germany, and China.
The global curcumin market size is projected to total US$ 95.6 Mn in 2021. As per Future Market Insights (FMI) analysis, the overall sales of curcumin will surpass US$ 279.3 Mn by 2031. Demand for curcumin is projected to grow by 11.3% CAGR over the forecast period, from 2021 to 2031.
According to the study, curcumin sales represented 3% to 5% of overall curcuminoids market in 2020. Demand for curcumin is likely to soar as consumers across the globe realize the health benefits of curcumin as a functional ingredient.
FMI predicts the U.S., India, Germany, and China to emerge as primary markets for curcumin sales. Of these, the U.S. curcumin market is expected to grow by 9.7% CAGR between 2021 and 2031.
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.
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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.
Rising consumer preference for natural personal care products is expected to spur demand for curcumin in the forthcoming years. Increasing awareness about benefits of organic ingredients are compelling manufacturers to use different types of natural ingredients found consumables.
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.
“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 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.
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The use of natural skincare products improves skin texture, tone, and appearance due to the presence of nutrients that are beneficial for skin health. Curcumin extracts are primarily used in skincare products due to their pigmentation inhibition antimicrobial activity and antioxidant capacity, all of which help to prevent various skin diseases.
Increasing awareness regarding benefits of natural ingredients used in cosmetics and personal care products expected to propel demand for curcumin over the forecast period.
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Competitive Landscape
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.
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The main topic is the projected growth of the curcumin market, expected to surpass $279.3 million by 2031.
Demand is increasing due to its health benefits and the trend towards natural ingredients in food and personal care products.
The U.S., India, Germany, and China are identified as key markets for curcumin sales.
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