The curcumin market is projected to grow at a CAGR of 4.53% to reach US$1,104.968 million in 2024 from US$846.869 million in 2018. Curcumin refers to a bright yellow phenolic compound that is the main constituent of turmeric powder, used as a food coloring and flavoring and also as a dietary supplement. Anti-inflammatory and antioxidant properties of curcumin make it an ideal ingredient in several foods and medical applications. Multiple health benefits of curcumin and increased need for natural & organic supplements have to lead to an increase in the demand for curcumin in the past few years, thus propelling the growth of the curcumin market. The inclusion of curcumin in ayurvedic as well as herbal nutritional supplements and skincare products is expected to increase the popularity and demand for curcumin in the coming years.
Increasing application scope in the cosmetic and pharmaceutical industry.
Clinical utility of curcumin extract.
Presence of less expensive synthetic food colorants.
Formulation challenges in curcumin-based items
Major industry players profiled as part of the report are Wacker Chemie AG, BioMax Life Sciences Ltd., SV Agrofood, Helmigs, Rosun Natural Products, Star Hi Herbs.
The curcumin market has been analyzed through the following segments: