Curcumin Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The curcumin market accounted for ~US$ 73.8 million in 2021 and is projected to exceed US$ 135.5 million by 2031; it is estimated to record a CAGR of 9.1% from 2022 to 2031.

Curcumin is a bioactive compound found in the roots of Curcuma longa, also known as turmeric. Curcumin exhibits anti-oxidant and anti-inflammatory properties, which make it ideal for various medicinal and food applications. In Southeast Asian countries, turmeric is widely used in medical and food products due to its therapeutic properties. Curcumin is also widely used to treat eye infections, sore skin, and leech bites. All these diverse applications of curcumin are driving the market.

MARKET DYNAMICS

The increasing awareness about health and well-being among consumers is expected to surge the demand for curcumin. In recent years, the demand for natural products that possess immunity-boosting properties has increased. Curcumin has gained prominence, owing to the increasing awareness about its various benefits against various ailments. Moreover, the changing dietary preference of consumers toward the use of herbs such as turmeric has contributed to the market's growth. However, the availability of low-cost substitutes such as natural spices like mustard powder that can be used as natural food additive may hamper the market growth. 

MARKET SCOPE

The "Global Curcumin Market Analysis to 2031" is a specialized and in-depth study with a special focus on market trend analysis. The report aims to provide an overview of the curcumin market with detailed market segmentation. It provides key market statistics based on the performances of leading market players and highlights key trends and opportunities in the market.

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MARKET SEGMENTATION

The curcumin market is segmented based on category and application. Based on category, the market is further segmented into organic and conventional. In terms of application, the curcumin market is categorized into pharmaceuticals and nutraceuticals, food and beverages, personal care, and others.

REGIONAL FRAMEWORK

The report provides a detailed industry overview, including qualitative and quantitative information. It provides an overview and forecast of the global curcumin market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America. The curcumin market in each region is subsegmented into respective countries. The report covers the analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in each region.

Asia Pacific dominated the curcumin market in 2021. The dominance of this region is mainly driven by the rising pharmaceuticals and food & beverages industries in the region. In addition, the increasing consumer awareness about the benefits of traditional medicines has surged the market growth.

The following figure showcases the revenue growth trend in the curcumin market:

The report analyzes factors affecting the curcumin market from both the demand and supply sides. Further, it evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, influencing the market progress. The report also provides an exhaustive Porter's Five Forces analysis of the market.

IMPACT OF COVID-19 PANDEMIC

During the COVID-19 pandemic, the demand for curcumin increased despite the disrupted supply and shortage of curcumin across the world. The shortage was mainly due to disturbance in the supply chain and bans imposed on imports and exports by different countries. The demand for curcumin increased for treating viral infections across the globe. According to a scientific study conducted by the European Union, curcumin helped COVID-19 patients to recover faster from the symptoms. The effectiveness of complementary treatment of COVID-19 patients is being tested. Moreover, a May 2021 study published in Frontiers of Pharmacology found that curcumin with piperine could be an effective adjuvant therapy for COVID-19 treatment. Such studies about the benefits of curcumin against COVID-19 increased its demand globally, thereby positively impacting the market growth. 

MARKET PLAYERS

The reports highlight key organic and inorganic growth strategies in the curcumin market. Organic growth strategies adopted by market players include product launches, product approvals, patents, and events. Further, the inorganic growth strategies witnessed in the market include acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of businesses and customer bases of market players.

The report on the curcumin market presents the profiles of key companies in this market, focusing on their SWOT analysis and market strategies. The company profile section focuses on leading industry players with information such as products and services offered, financial information for the last three years, and key development in the past five years. The list of a few key companies engaged in the curcumin market is given below:

• Wacker Chemie AG
• Arjuna Natural
• Herboveda
• Rosun Groups
• SabinsaCorp
• Glanbia plc
• Bioprex Labs
• Xi'an Green Spring Technology Co., Ltd 
• The Green Labs LLC
• SV AGROFOOD

The dedicated research and analysis team at The Insight Partners consists of experienced professionals with advanced statistical expertise. The team also offers various customization options in the existing study.

Report Scope

Curcumin Market Regional Insights

The regional trends and factors influencing the Curcumin Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Curcumin Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Curcumin Market Report Scope

Curcumin Market Players Density: Understanding Its Impact on Business Dynamics

The Curcumin Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Curcumin Market are:

1. Wacker Chemie AG
2. Arjuna Natural
3. Herboveda
4. Rosun Groups
5. SabinsaCorp

Disclaimer: The companies listed above are not ranked in any particular order.