Curcumin Market size to grow at over 9.5% CAGR to reach $99.3mn by 2024

Curcumin Market size is expected to reach USD 99.3 million by 2024; according to a new research report by Global Market Insights, Inc.

Strong application scope in pharmaceutical and cosmetics owing to the presence of anti-oxidation, anti-cancer and anti-inflammatory properties should drive global curcumin market growth. Growing consumer awareness pertaining to benefits from ayurvedic skin care and herbal ingredients may fuel product demand. Cough cure, arthritis, biliary disorders, diabetic wounds, anorexia, sinusitis, tumors, hepatic disorders and rheumatism treatments are key buying properties.

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Europe curcumin market size, dominated by France, UK, Spain, Italy and Germany, expects over USD 25 million valuation by 2024. Rise in consumer spending on food and pharmaceutical accompanied by positive regulatory support are key factors stimulating regional demand. European Food Safety Authority (EFSA) approval to include curcumin in commercial products coupled with extensive R&D for cancer treatment are other lucrative factors.

Pharmaceutical applications accounted for over 52% in 2015 of the overall industry share due to rise in customer acknowledgement for curcumin for diseases treatment such gastric ailments and alzheimer, have favored product demand.

Shift in consumer preference for natural flavoring and colorant substances owing to its antioxidant property which can prevent food rancidity would fuel product demand in food applications. Over 78% of the global curcumin production is concentrated in India. Unstable turmeric prices due to in contingent environment hazards may result in unstable supply hence affecting curcumin market price trend.

Browse key industry insights spread across 150 pages with 107 market data tables & 9 figures & charts from the report, “Curcumin Market Size By Application (Food, Pharmaceutical, Cosmetics, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, Vietnam, China, India, Japan, Australia, Malaysia, Indonesia, Thailand, South Korea, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

Key insights from the report include:

• Cosmetic applications in the U.S. curcumin market share may witness over 10% growth. Increasing consumer demand for turmeric based herbal dietary supplements and anti-cancer drugs are key factors driving industry growth. Growing consumer preference for turmeric extract in cosmetic formulations due to its antioxidant properties are fueling product demand in cosmetic application.

• UK curcumin pharmaceutical applications were valued at over USD 700,000 in 2015. Increasing interest from producers and researchers due to its high potential and extensive applicability are driving regional pharmaceutical product demand.

• India curcumin market size accounted for over 81% of the overall Asia Pacific revenue. It is widely used as food colorant and spice. Low consumer awareness in India results in exporting product to Europe and North America region. Herbal cosmetic and pharmaceutical industry expansion should drive China curcumin market size.

• Cosmetic application in Germany may surpass 2.3 tons by 2024. Positive indicators from cosmetic industry owing to its benefits pertaining to pigmentation, blemishes, and UV rays are key factors enhanced regional industry growth.

• Key industry players include Biomax Life Sciences, Synthite Industries, SV Agrofood and Hindustan Mint & Agro Products. Other industrial participants include Helmigs Prima Sejahtera, Arjuna Natural Extracts, Herboveda India, Tri Rahardja PT, Konark Herbals & Health Care, Star Hi Herbs, and Hebei Food Additive.

• Key herbal skin care products and cosmetics brands include Shahnaz Husain, Vicco and Himalaya Herbals.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.