Curcumin Market Global Upcoming Demand, Growth Analysis and Forecast till 2031

Published : 3 years ago, on 07/08/2021

The curcumin market is anticipated to witness a surge during the forecast period owing to the awareness of consumers regarding healthy lifestyle and use of harmful artificial ingredients in food, medicines, etc. Furthermore, in cosmetics, rising demand for herbal skin care products due to the harmful chemicals present in the cosmetic products. Cheaper synthetic food products can restrain the market but vast population of health conscious people interested in adopting herbal lifestyle and products of natural products can be the major factor leading the growth of the market.

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Robertet in November 2020 launched curcuRouge with partnership with Tadashi Hashimoto, a bioavailability expert, a groundbreaking curcumin which has proven 93 times greater absorption than traditional extracts. CurcuRouge is capable of get mixed with water and has highest concentrations and allows low dose of 225-450 mg per day. CurcuRoge is made using a non-crystalline form of curcumin, stabilised with a polymer matrix which helps increase the solubility and stability. The process uses non-controversial additives thus, making it a Novel Food Ingredient.

Chok Yuen Yong Industry Co., A Nakhon Ratchasima based manufacturer in February 2021 has turned to curcumin drinks due to its health beenfits and growing concern regarding health due to pandemic. The group has invested nearly 50,00,000 US dollars to buy 10-rai plot in Nakhon Ratchasima to build a factory producing QminC drink. This drink is made up of curcumin extracted from the rootstalk of turmeric plants. The company is planning to export the drink products to Southern parts of Asia and the Middle East after the pandemic.

In March this year, James White re-launched a reduced sugar Thorncroft cordial range together with a new Turmeric cordial. The cordial is made up of pressed turmeric juice giving it a refreshing taste whose benefits are derived from curcumin. The company has cut sugar in the product by at least 37%. The product is company’s new addition in their plant based origins and turmeric is added to the cordial for the spice and its anti-inflammatory benefits.

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Introduction

Curcumin is an extract of the Curcuma Longa root widely known as “Turmeric” and is found in turmeric two to eight percent by weight. Curcumin, chemically called diferuloylmethane, gives turmeric its characteristic yellow color.

Curcumin is a natural herb that has numerous benefits, which improve the overall health of consumers. Since ages, curcumin has been used as a pain relieving agent. It plays a vital role in the treatment of jaundice, hemorrhage and hematuria, to name a few. In modern times, curcumin is one of the most widely studied natural products. Research has proved that curcumin has the ability to prevent cancer by avoiding carcinogens. Along with this, curcumin also protects the liver against damages caused by infections. It is an anti-inflammatory substance that is able to reduce exhaustion and fatigue, which might lead to the inflammation of the liver. Curcumin improves digestion and prevents kidney failure due to diabetes. It directly nourishes the skin cells and maintains normal blood cholesterol levels. Curcumin, offers a soothing effect for sore throat and mouth ulcers and enhances the overall immune system. It has also been stated in recent studies that curcumin can potentially prevent Alzheimer’s. Curcumin also exhibits a spot removal property useful in the textile industry.

Dynamics

Recently, the volumetric demand for curcumin has surged, owing to the shift of end users from synthetic products to natural products due to rising awareness. Increasing focus of researchers towards natural products and the commercialization of curcumin to exploit its properties are the key factors driving the sales of curcumin. Majority of the demand for curcumin stems from dietary supplement and pharmaceutical industries and hence, the growth of these industries will drive the curcumin growth as well. Being a developing market, a vast opportunity exists for new products and production technologies. With optimistic support from governments for natural products and restrictions on synthetic products, the curcumin market is expected to experience significant growth throughout the forecast period.

However, manufacturers also face a risk due to the supply of adulterated curcumin from local vendors. Also, a confusion exists among customers regarding the bioavailability of curcumin. The presence of alternative synthetic products can harm curcumin’s revenue share. The presence of economical food colors might also affect its growth in the food and beverage segment. Being a market largely driven by research, several key players have established their own R&D centers and most of the products are found to be patented.

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 Segmentation

On the basis of curcuminoid content,

• ≥ 94% curcuminoid content
• ≥ 80% curcuminoid content
• Others

On the basis of application,

• Food colorant
• Antioxidant
• Anti-inflammation agent
• Others

On the basis of end use,

• Food and beverage
• Pharmaceutical
• Textile
• Personal Care
• Others

Regional Outlook

India dominates the market in terms of turmeric cultivation and the country accounts for over 75% of the total turmeric grown globally. However, attributing to the low awareness among the country’s population, majority of the turmeric is exported to North America. In terms of consumption, North America consumes a large amount of curcumin, owing to its applications in the personal care industry with herbal products gaining traction in the market. According to the Food and Agriculture Organization of the United Nations, roughly 2400 Metric Tons per Annum of turmeric is imported in the U.S. Europe follows North America in terms of the demand for curcumin. Research and development regarding the application of curcumin for cancer treatment is driving the growth of curcumin in Europe. Manufacturers are concentrated in the Asia Pacific region, mainly in India, owing to the proximity to raw materials and penetration of herbal products.

Key Participants

Some of the prominent participants in the global curcumin industry identified across the value chain include Biomax Life Sciences Ltd., Hindustan mint & agro products pvt. Ltd., Arjuna Natural Ltd, SVagrofood, Star Hi-Herbs Pvt. Ltd., Synthite Industries Ltd., Sabinsa Corp., Herboveda India Pvt. Ltd, Helmigs Company, Hebei Food Additive Co. Ltd., PT Tri Rahardja, Konark Herbals & Health Care, etc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated data. It also contains projections using a suitable set of assumptions and methodologies.

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