Global Curcumin
market is expected to reach USD 94.3 million by 2022, according to
a new study by Grand View Research, Inc. Therapeutic properties of curcumin
such as anti-inflammatory and anti-oxidant make them ideally suited for use in
food and medical application. The market is expected to witness significant
growth in light of the growing consumer awareness regarding the above mentioned
therapeutic properties. Increasing demand for herbal and ayurvedic skin care
products is also expected to boost demand for curcumin over the forecast
period. Curcumin or turmeric extracts are also gaining importance owing to the
lower bioavailability of raw turmeric which is mostly consumed in food
products.
Pharmaceutical was the largest
application segment accounting for over 50% of the global volume owing to an
increasing demand for curcumin based OTC supplements. Curcumin demand in food
application also increased in 2014 in terms of absolute volumes on account of
growing demand for natural coloring and flavoring substances. Similar trends
are expected to continue over the forecast period. Growing penetration of
herbal skin care products is expected to further augment curcumin market
growth. R&D in dye-sensitized PV technology is expected to open new market
avenues for curcumin.
Global curcumin market, by
application, 2012 - 2022 (Tons)
Browse full research report on Curcumin Market: http://www.grandviewresearch.com/industry-analysis/turmeric-extract-curcumin-market
Further key findings from
the report suggest:
- North America
was the largest regional market for curcumin with market revenue exceeding
USD 20 million in 2014. Curcumin is an established ingredient for
pharmaceutical application in the region which is expected to act as a
major driver for market growth. In addition, growing use of turmeric
extract or curcumin in cosmetic formulation is expected to further augment
market demand over the forecast period.
- Curcumin
production is highly dependent on turmeric production which is regional
dominated by India. India is the largest manufacturer of curcumin with
production exceeding 80% of global market. Low consumer awareness of
curcumin as a health ingredient in India results in the country exporting
majority of its product to North America and Europe.
- Europe is
expected to be the fastest growing regional market for curcumin with
demand estimated to grow at a CAGR of over 17% from 2015 to 2022.
Regulatory support coupled with growing consumer awareness is expected to
be a key factor responsible for high market growth in the region. European
Food Safety Association (EFSA) has approved ADI of 3 mg/kg of body weight
for curcumin making it a preferred pharmaceutical ingredient in turn
resulting in increased market demand.
- Key players
present in the global curcumin market include Arjuna Natural Extracts Ltd,
Synthite Industries Ltd, Sabinsa Corporation and Helmigs Prima Sejahtera
PT. Arjuna Natural Extract ltd has a patent for curcumin formulation from
turmeric which signified the extensive R&D in the market.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/curcumin-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment