The global Curcumin Market is
forecasted to reach USD 135.4 Million by 2027, according to a new report by
Reports and Data. The market is witnessing a surge in demand owing to the
rising customer consciousness about the health benefits and therapeutic
properties of curcumin. Moreover, the rising trend of using natural ingredients
in cosmetic products is fostering the market demand. However, the availability
of cheaper synthetic products is hampering the growth of the market.
The competitive landscape and
company profiles offered in the report examine the key players in the Curcumin market.
The competitive analysis scrutinizes strategic initiatives adopted by key
players and evaluates recent developments and market standing of the companies.
The company profiles include data of established players and new entrants and
are examined by using analytical tools like SWOT Analysis.
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Key Players:
Key participants
include SV Agrofood, Biomax Life Sciences Ltd., Konark Herbals and Health Care,
Star High Herbs Pvt. Ltd., Hebei Food Additive Co. Ltd., Arjuna Natural
Extracts Ltd., BioThrive Sciences, Synthite Industries Ltd., Herboveda India
Pvt. Ltd., and Hindustan Mint & Agro Products Pvt. Ltd., among others.
Further
key findings from the report suggest:
- The largest application of curcumin
is in the pharmaceutical sector, and it occupied 55.7% of the market in
2019. This is primarily because of the increasing awareness regarding the
health benefits of curcumin.
- The food-grade sub-segment occupied
36.2% of the market in 2019, mainly due to the increasing use of curcumin
in food in the developed countries and developing countries like China and
India. Food-grade is forecasted to grow at a CAGR of 11.7% in the forecast
period.
- Offline stores dominated the
distribution channel and occupied 77.18% of the market share in 2019. The
major reason behind this is that internet penetration is low in many
areas, and the majority of the population still prefers to buy groceries
offline in developing countries.
- North America dominated the market
for curcumin in 2019. The reason behind this is that the population in
this region is highly educated, and hence consumer awareness regarding the
health benefits and cosmetic applications is high.
- India is the largest producer of
curcumin, majorly because of the large applications of curcumin in the
food segment, apart from the pharmaceutical and cosmetic segment, which is
also prevalent in the rest of the world. India is responsible for about
80% of the production of curcumin in the world and is accountable for 60%
of the exports.
- In March 2017, Arjuna Natural
Extracts Ltd. invested USD 1.5 Million in the research and development of
proactive curcumin. This is expected to drive the demand for the market.
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Market
Segmentation:
Application Outlook
(Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Food
- Cosmetics
- Pharmaceuticals
- Other Uses
Type Outlook (Volume,
Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Food Grade
- Cosmetics Grade
- Pharmaceutical Grade
Distribution Channel
Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Offline Stores
- Online Stores (E commerce)
Regional Outlook
(Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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Key questions answered:
·
Which
of these regions – North America, Europe, Asia Pacific, Latin America, and
Middle East & Africa, dominates
market share?
·
What
is the outcome of the COVID-19 Impact Analysis performed in the report?
·
What
are the revenue estimations for every region in the Curcumin market?
·
What
is the current market valuation of each region and the estimated market size by
the end of the forecast period?
·
What
is the projected growth rate of the global Curcumin market?
Thank you for reading this article. You can also get
chapter-wise sections or region-wise report coverage for North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa.
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