ALBANY, New York, Feb. 1, 2019
ALBANY, New York, Feb. 1, 2019 /PRNewswire/ -- Transparency Market Research (TMR) witnesses the global curcumin market has a highly competitive and fragmented vendor landscape. Some of the companies operating in the global curcumin market are Sabinsa Corporation, Biomax Life Sciences Limited, Synthite Industries Ltd., Hebei Tianxu Biotech Co., Ltd, and Herboveda India Pvt. Ltd. A growing number of the new entrants in the global curcumin market is leading to increasing fragmentation of the market and increasing level of competition in the global market for curcumin. In addition, the key players are increasingly introducing new bio-based products, which are helping them to propel the growth of the curcumin market.
According to TMR, the global curcumin market is estimated for the revenue of US$282.2 mn in the year 2018 to swell with a CAGR of 6.5% to attain revenue of US$ 465.8 mn over the forecast period from 2018 and 2026.
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Based on the application, the antioxidant segment is assessed to account for 29.7% share in the overall curcumin market in the year 2018 and is expected to grab the share of 30.6% by the 2026-end expanding with a CAGR of 6.8% over the forecast period 2018 to 2026. Based on nature, the conventional curcumin segment is projected to expand with a significant rate in the global curcumin market. Based on the region, the North American curcumin market is predictable to hold a significant revenue share of about 45.1% in the year 2018.
Booming Cosmetics and Skincare Industry to Propel Growth of Market
Growing world population is boosting demand for the food, which is leading to improve agriculture by adopting new agricultural methods. In addition, growing disposable income is empowering middle class globally and especially in India and China and leading to change their food habits, which is likely to propel demand for the packaged and processed foodstuff.
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Growing demand for natural food products mainly from cosmetics and skincare products from the consumer is boosting the new launch of bio-based products. This is propelling adoption of curcumin and likely to boost the growth of the global curcumin market. Additionally, curcumin based-products are gaining attention from dietary supplements and medical industry due to growing awareness about its benefits is propelling the growth of the curcumin market.
Growing Preference for Personal Aesthetics to Propel Growth of Market
Usage of curcumin in medication and cosmetic products inspired by Indian Ayurveda for its excellent antioxidant and anti-inflammatory is boosting the growth of the curcumin market. Furthermore, easy availability and high production of curcumin mainly from India being the largest manufacturer are propelling its export and usage in the country. This, in turn, is influencing positively on the growth of the curcumin market. Besides, curcumin has anti-aging properties; growing attention toward personal aesthetic is propelling demand for effective cosmetic products and likely to propel the growth of the curcumin market.
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This information is encompassed in the report by TMR, titled "Curcumin Market (Nature – Organic Curcumin, Conventional Curcumin; Form – Powder, Liquid; Application – Heart Health, Brain Health, Stress/Anxiety Relief, Anti-inflammation, Antioxidant, Flavorant & Colorant; End Use – Dietary Supplements, Food Products, Herbal & Medicinal Products, Cosmetics) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026."
For the study, the curcumin market has been segmented as follows:
By End Use
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