Global Curcumin Market Outlook
Curcumin is a bright yellow chemical substance belonging to the group of curcuminoids and is the major active compound of turmeric, also found in limited amounts in ginger. It is loaded with anti-inflammatory and anti-oxidation properties which have gained tremendous attention from the nutraceutical industry. Due to its therapeutic properties, curcumin has found enormous opportunities of applications in pharmaceutical, cosmetics, spices, personal care, and F&B sectors. It is rich in mineral content constituting good amount of zinc, magnesium, calcium, iron, and potassium, and also acts as powerful natural antioxidant with no side effects due to the presence of Vitamin-C in it. As per the IndustryARC business intelligence report, the global curcumin market size was around $56 million to $58 million in 2018 and is forecast towards progression at a global CAGR of 9% to 10% during the forecast period (2019-2025).
In 2018, the United Natural Products Alliance signed a memorandum of understanding with the Global Curcumin Association. Such undertakings by elite organizations have tremendous potential to advance consumer confidence, manufacturing principles, and obedience with federal regulations along with guidelines concerned with natural products elements and nutritional supplements. These events with their enormous influencing tendencies is all set to divert a huge chunk of traffic towards the global curcumin market, stroking it with demand and opportunities for hefty returns.
Global Curcumin Market- Application Analysis:
- As per a 2018 report by Blue Cross Blue Shield Alliance diagnoses of major depression have increased intensely by 33 percent since 2013 in the United States affecting 9 million Americans. Global situation assessment by WHO reveals more than 300 million people of all age-groups suffer from depression. Curcumin is a natural antidepressant and as effective as medicines in the cases of alleviating depression symptoms. Owing to such peculiarities and demand for medications treating depression, the untapped curcumin marketplace is poised for exponential growth.
- Circumin is a natural inflammatory compound that helps the body to fight natural invaders and also enhances damage repairing process. It is a powerful ingredient with all the medicinal traits to fight chronic inflammation—all this with no side effects. The compound also shows promise of support medication formulations of several chronic diseases such as cancer, cardiovascular diseases, metabolic syndrome, alzheimer and so on.
- WHO states that 17.9 million people die every year due to cardiovascular diseases (CVDs), which accounts for 31% of the global deaths. Moreover, depression and unhealthy diet are the major causes recognized for CVDs by the organization. Thus, curcumin with impeccable medicinal qualities and nutritional qualities useful in condition like depression, obesity and CVDs is forecast to stroke the market towards tremendous growth at a global stage. Pharmaceuticals applications segment accounts for more than half of the global revenue share of curcumin market and is forecast to progress at a CAGR of 8%-9% from 2019 to 2025.
- As per an analysis by Forbes, the global cosmetic industry sales reached $445 billion in 2017. At present, huge chunk of demand in this arcade is for products made with natural ingredients as a consequence of awareness campaigns regarding the hazardous effects like skin cancer by chemical cosmetic ingredients. Curcumin with its powerful antioxidants potentials determines itself as an asset towards controlling mechanisms like anti-aging. The cosmetics industry is leveraging key traits of curcumin to formulate their products and gain ground over competitors.
R&D Investments Positively Influencing Curcumin Market:
Innovations and technology is leading the way towards understanding the full potential of traditional herbs and its effects on health. Indian and Chinese markets with traditional Indian Ayurveda and traditional Chinese medicines have been utilizing curcumin from a very long time. But at present, North America is the leading market controlling 53% - 55% of the global curcumin market share, owing to numerous ongoing R&D activities reflecting the immaculate potential of curcumin in various sectors like F&B, personal care and cosmetics, pharmaceuticals and nutraceuticals industries. Global Curcumin Association depicted that research and scientific validation on the health benefits of curcumin has been a major influence in the popularity of this ingredient.
Some of the major companies profiled in the report are Biomax Lifesciences Ltd. (India), Synthite Industries (India), Hebei Food Additive Co. Ltd. (China), Helmigs Prima Sejahtera PT (Indonesia) and others.
Rampant trend of healthier lifestyle is leading to influx of investments on natural products, such as curcumin. The organic compound has proven its worth as antidepressant as well as usage in the pharmaceutical, cosmetics, and personal care industries. Thus, urban population with increasing health awareness and deterring medical conditions are expected to propel the curcumin market in the near future. Association agreements with elite organizations acts as a free advertising tool among masses and it also affects the commodity’s image to propel the market growth.