Global Curcumin market is expected to reach USD 94.3 million by 2022,
according to a new study by Grand View Research, Inc. Therapeutic properties of
curcumin such as anti-inflammatory and anti-oxidant make them ideally suited
for use in food and medical application. The market is expected to witness
significant growth in light of the growing consumer awareness regarding the above
mentioned therapeutic properties. Increasing demand for herbal and ayurvedic
skin care products is also expected to boost demand for curcumin over the
forecast period. Curcumin or turmeric extracts are also gaining importance
owing to the lower bioavailability of raw turmeric which is mostly consumed in
food products.
Pharmaceutical was the largest
application segment accounting for over 50% of the global volume owing to an
increasing demand for curcumin based OTC supplements. Curcumin demand in food application
also increased in 2014 in terms of absolute volumes on account of growing
demand for natural coloring and flavoring substances. Similar trends are
expected to continue over the forecast period. Growing penetration of herbal
skin care products is expected to further augment curcumin market growth.
R&D in dye-sensitized PV technology is expected to open new market avenues
for curcumin.
Browse full research report on Curcumin Market: http://www.grandviewresearch.com/industry-analysis/turmeric-extract-curcumin-market
Further key findings from
the study suggest:
- North America was the largest regional market for
curcumin with market revenue exceeding USD 20 million in 2014. Curcumin is
an established ingredient for pharmaceutical application in the region
which is expected to act as a major driver for market growth. In addition,
growing use of turmeric extract or curcumin in cosmetic formulation is
expected to further augment market demand over the forecast period.
- Curcumin production is highly dependent on turmeric
production which is regional dominated by India. India is the largest
manufacturer of curcumin with production exceeding 80% of global market.
Low consumer awareness of curcumin as a health ingredient in India results
in the country exporting majority of its product to North America and
Europe.
- Europe is expected to be the fastest growing regional
market for curcumin with demand estimated to grow at a CAGR of over 17%
from 2015 to 2022. Regulatory support coupled with growing consumer
awareness is expected to be a key factor responsible for high market
growth in the region. European Food Safety Association (EFSA) has approved
ADI of 3 mg/kg of body weight for curcumin making it a preferred
pharmaceutical ingredient in turn resulting in increased market demand.
- Key players present in the global curcumin market
include Arjuna Natural Extracts Ltd, Synthite Industries Ltd, Sabinsa
Corporation and Helmigs Prima Sejahtera PT. Arjuna Natural Extract ltd has
a patent for curcumin formulation from turmeric which signified the
extensive R&D in the market.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
For the purpose of this study, Grand View Research has
segmented the global curcumin market on the basis of product and region:
Global Curcumin Application Outlook (Volume, Tons;
Revenue, USD Million, 2012 - 2022)
- Pharmaceuticals
- Food
- Cosmetic
- Others
Global Curcumin Regional Outlook (Volume, Tons; Revenue,
USD Million, 2012 - 2022)
- North
America
- U.S.
- Europe
- Germany
- Denmark
- Asia
Pacific
- Japan
- India
- Indonesia
- RoW
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/curcumin-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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