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The global curcumin market is projected to witness a rise during the forecast years, due to various essential properties associated with the product, such as anti-inflammatory properties, a very strong antioxidant property. An upsurge in demand for curcumin from various food industries is projected to contribute to its market growth in the forthcoming years.
Key companies operating in the global curcumin market are focusing on the launch of new products for multiple industrial applications for maintaining their market prominence. Sabinsa Corporation, Synthite Industries Ltd., and The Green Labs LLC are some of the key companies performing in the global curcumin market.
Curcumin is obtained from the Curcuma longa plants which is yellow bright in color and is mostly found in turmeric. They are used as a cosmetic supplement, herbal supplement and also as food colorants in many products. Curcumin is mostly used as a flavoring agent in the food as it tastes like turmeric. Curcumin is obtained from turmeric and is mostly used in food, cosmetics and pharmaceuticals industries.
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The increased need for organic and natural supplements is projected to fuel the growth of global curcumin market during the forecast period. Increased governmental support for the production of curcumin due to their antioxidant and anti-inflammatory properties is further expected to boost the demand for curcumin.
Presence of formulation challenges and cheap synthetic food colorants is expected to hamper the market growth during the forecast years. Furthermore, the lack of availability of synthetic substitutes is expected to restrain market growth.
Some of the major companies that are present in the global curcumin market are Synthite Industries Ltd., Sabinsa Corporation, Biomax Life Sciences Limited, Shaanxi Jiahe Phytochem Co.,Ltd., The Green Labs LLC, Nuvothera, Inc., and Applied Food Sciences Inc.
On the basis of form, the global curcumin market has been segmented into powder and liquid. Powder curcumin segment is anticipated to exhibit considerable growth during the forecast period, as they are easy to store and easy transport facility. In addition, powder curcumin has a long shelf life as compared to liquid form.
On the basis of application, the global curcumin market has been segmented into flavorant, colorant, antioxidant, brain health, anti-inflammation, and heart health. The application of curcumin in cosmetics & pharmaceuticals is projected to be the highest during the forecast years, owing to the many health benefits offered by curcumin to consumers is expected to boost the product’s demand, hence aid its market growth during the forecast period.
North America is projected to dominate the global curcumin market during the forecast years, owing to increasing demand for nutritional supplements which are based on curcumin and increasing demand for applications in cosmetic preparations, in countries such as U.S. and Canada. Rapid growth in cosmetics, pharmaceuticals industry of the region is projected to result in the upsurge in demand for curcumin by this industry, which is further anticipated to aid the curcumin market growth of the region.
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