Market Overview
Curcumin has gained attention globally for its multiple health benefits, especially its anti-cancer properties. According to the Asian Pacific Journal of Cancer Prevention, the anti-cancer property of curcumin has been successfully depicted by several clinical trials for different types of cancer including breast, lung, pancreatic, oral, prostate, colorectal, and head and neck squamous cell carcinoma. This factor is expected to drive the growth of the global curcumin market soon.
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Key Player
Some of the key players in the global curcumin market are Sabinsa Corporation (Germany), Rosun Natural Products Pvt. Ltd (India), Konark Herbals & Health Care (India), PT. Helmigs Prima Sejahtera (Indonesia), Star Hi Herbs Pvt. Ltd. (India), SV Agrofood (India), Arjuna Natural Extracts Ltd. (India), Hindustan Mint & Agro Products Pvt. Ltd. (India), Synthite Industries Pvt. Ltd. (India), and Herboveda India Pvt. Ltd. (India).
Market Segmentation
The global curcumin market has further been segmented by form, category, and application.
By form, the global curcumin market has been classified as liquid and powder. The powder segment is expected to be larger and register the higher CAGR during the review period.
Based on category, the global curcumin market has been segmented into organic and conventional. The conventional segment is expected to be larger owing to the easy availability and lower prices as compared to organic curcumin.
The global curcumin market has also been segregated, on the basis of application, into food & beverage, pharmaceuticals and nutraceuticals, and others. The pharmaceuticals and nutraceuticals segment is expected to be the largest while the food & beverage segment is projected to be fastest-growing during the forecast period.
Regional Analysis
The global curcumin market has been studied in North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is projected to gain market dominance in the global curcumin market. The growing use of curcumin in various industries in the region is among the crucial factors responsible for market growth. Asia-Pacific is a major hub for several food & beverages and pharmaceuticals processors which is contributing to the regional market growth. Curcumin is the yellow bioactive component of turmeric and has been shown to have an extensive spectrum of biological actions. This makes it ideal for medicinal use, which is expected to drive the growth of the market.
The North American market is expected to register the highest growth rate during the forecast period of 2019 to 2024 due to the increasing demand for natural additives in food and medicines. Curcumin possesses various beneficial properties such as antioxidant, anti-inflammatory, antimutagenic, anticarcinogenic, antidiabetic, anticoagulant, antibacterial, antifungal, antiviral, antivenom, antiprotozoal, antifibrotic, antiulcer, hypotensive, and hypocholesteremic. The presence of an established food & beverage industry in the US and Canada is also driving regional market growth.
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The European curcumin market is projected to garner a notable revenue share during the assessment period due to the shifting preferences of consumers toward natural and healthy ingredients. The surging consumption of natural food and medicinal products in the region is contributing to market growth.
In RoW, the Middle East and South America are the major markets for curcumin due to the growing demand for curcumin-based herbal and ayurvedic products.
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