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Curcumin Market Report by Application (Food and Beverages, Pharmaceuticals, Cosmetics, and Others), and Region 2024-2032

August 2024 | 142 pages | ID: C7CD2DFD7A17EN
IMARC Group

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The global curcumin market size reached US$ 87.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 160.4 Million by 2032, exhibiting a growth rate (CAGR) of 6.8% during 2024-2032. The rising consumer awareness about the health benefits of curcumin, ongoing scientific studies suggesting curcumin's potential in treating various diseases, the increasing trend of using dietary supplements, and increased trade and ease of access to raw materials are some of the major factors propelling the market.

Curcumin is a bioactive compound found in the rhizomes of the turmeric plant (Curcuma longa). It is responsible for the bright yellow color and many of the health benefits attributed to turmeric. As a polyphenol, curcumin has attracted attention for its antioxidant, anti-inflammatory, and anticancer properties. Studies have explored its potential in treating various medical conditions such as arthritis, diabetes, and cardiovascular diseases. It is commonly used in traditional medicine systems like Ayurveda. However, curcumin has low bioavailability, meaning it is not easily absorbed by the body. To enhance its effects, it is often combined with other substances like black pepper extract.

The rising awareness about healthy living represents one of the key factors influencing the growth of the market across the globe. This is further driving consumers towards natural products like curcumin, which is known for its antioxidant and anti-inflammatory properties. An increasing body of research suggesting potential therapeutic applications of curcumin in treating ailments, such as arthritis, diabetes, and even certain types of cancer is fueling interest. The global trend toward using dietary supplements for enhanced well-being is providing an additional channel for curcumin sales. Pharmaceutical companies are investing in research to explore curcumin's role in drug formulation, adding another dimension to its market demand. The food and beverage industry employs curcumin as a natural coloring and flavoring agent, contributing to its market penetration. Curcumin’s antioxidant properties make it desirable in skincare products, adding another vertical to its market presence. The long-standing use of curcumin in traditional medicine systems like Ayurveda lends it credibility, attracting a broader consumer base, thus facilitating the growth of the market across the globe.

Curcumin Market Trends/Drivers:

Rising health and wellness consciousness

One of the most significant factors driving the market is the rising global awareness about the importance of health and well-being. As people become more educated about natural remedies and alternatives to synthetic medications, the demand for curcumin has surged. Curcumin is well-known for its anti-inflammatory and antioxidant properties. It has been the subject of extensive scientific research, which suggests its potential efficacy in treating a variety of ailments, from arthritis and diabetes to cardiovascular diseases and even certain cancers. The health benefits of curcumin are becoming more widely recognized, leading to its increased incorporation in dietary supplements, foods, and beverages. This consumer-driven focus on health is a substantial driver for the curcumin market.

Rise in the versatility of applications

Another major factor is the broad range of industries in which curcumin finds application. Beyond health and wellness, curcumin is increasingly being utilized in the pharmaceutical sector for its therapeutic properties. Additionally, the cosmetic industry is incorporating curcumin into skincare products due to its antioxidant attributes, which can aid in combating skin aging and other dermal issues. Its use is also prominent in the food and beverage sector, where it serves as a natural coloring and flavoring agent. The versatility of curcumin extends its reach into multiple market sectors, which is further increasing its demand.

Rise in favorable regulatory environment

The role of a favorable regulatory environment cannot be overstated in driving the market forward. Agencies such as the U.S. Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) have set guidelines and granted approvals for the use of curcumin in various capacities, including food coloring and dietary supplements. Such regulatory endorsements serve to validate the safety and efficacy of curcumin, thereby bolstering consumer confidence. The endorsement by reputable authorities also facilitates easier market entry and broader distribution channels, allowing companies to market curcumin-based products more effectively. Consequently, consumers are more likely to trust and purchase these products, which is further fueling the market growth.

Curcumin Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global curcumin market report, along with forecasts at the global, regional, and country for 2024-2032. Our report has categorized the market based on application.

Breakup by Application:
  • Food and Beverages
  • Bakery and Confectionery
  • Beverages
  • Dairy Products
  • Others
  • Pharmaceuticals
  • Cosmetics
  • Others
Pharmaceuticals represents the largest market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes food and beverages (bakery and confectionery, beverages, dairy products, and others), pharmaceuticals, cosmetics, and others. According to the report, pharmaceuticals represented the largest segment.

Curcumin is garnering considerable attention in the pharmaceutical sector due to its promising therapeutic properties. It is widely researched for its anti-inflammatory and antioxidant effects, thus making it a candidate for treating inflammatory conditions, such as arthritis and inflammatory bowel disease. Its potential is in managing metabolic syndromes like diabetes, by helping to regulate blood sugar levels and reduce insulin resistance. Beyond these, curcumin shows promise in neuroprotective applications, with research indicating its potential usefulness in managing neurodegenerative diseases like Alzheimer's and Parkinson's. Its antioxidant properties also help in reducing oxidative stress, which is a key factor in the progression of these diseases. Another significant area of research is oncology. Preliminary studies suggest that curcumin could inhibit the growth of various cancer cells and enhance the efficacy of existing chemotherapy treatments. Due to its low bioavailability, pharmaceutical companies are also investing in developing formulations that improve curcumin's absorption, such as nanoparticles, or combining it with other bio-enhancers like piperine from black pepper.

Breakup by Region:
  • North America
  • United States
  • Canada
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa
North America represents the largest market segment

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America has a robust health and wellness culture. Consumers are increasingly aware of the benefits of natural products, and curcumin's anti-inflammatory and antioxidant properties are particularly appealing for preventive healthcare. The region has a well-established dietary supplement market, which serves as an effective platform for curcumin-based products. Consumers often seek supplements for improved well-being, and curcumin fits well into this category. The United States, a key market in North America, is home to extensive medical research facilities. Studies conducted on curcumin's potential benefits in treating ailments like arthritis, Alzheimer's, and cancer are influential in raising consumer interest. Approvals from the U.S. Food and Drug Administration (FDA) for certain uses of curcumin have positively impacted consumer perception, strengthening its market position. Curcumin's versatility extends beyond healthcare into food and beverage, as a natural coloring agent, and cosmetics, as an antioxidant, thereby widening its consumer base. Robust marketing strategies, coupled with educational initiatives, have effectively communicated the benefits of curcumin to the public, which is fueling its demand

Competitive Landscape:

Key players in the market are employing a range of strategies to establish their presence and expand their market share. Companies are investing heavily in research and development (R&D) activities to explore new applications of curcumin, enhance its bioavailability, and develop innovative formulations. This includes collaborations with academic institutions and clinical trials to validate the compound's efficacy for various health conditions. To capture a broader customer base, many companies are diversifying their product lines to include curcumin in various forms, such as capsules, powders, and liquid extracts, as well as incorporating it into cosmetics, foods, and beverages. Collaborations and partnerships with other industry players, such as pharmaceutical firms or food manufacturers, are common. These alliances facilitate cross-sectoral use of curcumin and help companies enter new markets more rapidly. Robust marketing campaigns, including digital advertising, influencer endorsements, and consumer education, are being used to build brand awareness and establish credibility.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
  • Arjuna Natural Pvt Ltd.
  • Biomax Life Sciences Limited.
  • Helmigs Prima Sehejtera
  • Herboveda India Pvt. Ltd.
  • Hindustan Mint & Agro Products Pvt. Ltd.
  • Konark Herbals & Healthcare
  • Rosun Natural Products Pvt. Ltd.
  • Sabinsa Corporation
  • Star Hi Herbs Pvt. Ltd.
  • SV Agrofood
  • Synthite Industries Ltd.
  • Wacker Chemie AG
Recent Developments:
  • In September 2021, At the Agricultural Market Committee (AMC) in Nizamabad, Telangana, Punjab-based AgNext Technologies, an agri-tech start-up, built a novel quality assessment system called 'Qualix,' which will quickly evaluate the curcumin level in turmeric.
  • In October 2022, Curcumin specialist PT Helmigs Prima Sejahtera unveiled its latest functional Power Series at FHA, Food & Beverage Asia 2022 held in Singapore in September 2022. The Power Series has curcumin as the key active ingredient and Xanthorrhizol, which is a powerful anti-bacterial and anti-inflammation compound found in Java turmeric.
  • In March 2022, Sabinsa Corp. (East Windsor, NJ) developed a new product sourced from turmeric called CurCousin. The new branded ingredient contains Calebin A, a curcumin analog naturally present in Curcuma longa and Curcuma caesia, and supports balanced cholesterol, healthy blood sugar levels, circulation, as well as weight management through the inhibition of adipogenesis (formation of fat cells).
Key Questions Answered in This Report

1. What was the size of the global curcumin market in 2023?

2. What is the expected growth rate of the global curcumin market during 2024-2032?

3. What are the key factors driving the global curcumin market?

4. What has been the impact of COVID-19 on the global curcumin market?

5. What is the breakup of the global curcumin market based on the application?

6. What are the key regions in the global curcumin market?

7. Who are the key players/companies in the global curcumin market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL CURCUMIN MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY APPLICATION

6.1 Food and Beverages
  6.1.1 Market Trends
  6.1.2 Major Types
    6.1.2.1 Bakery and Confectionery
    6.1.2.2 Beverages
    6.1.2.3 Dairy Products
    6.1.2.4 Others
  6.1.3 Market Forecast
6.2 Pharmaceuticals
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Cosmetics
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Others
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY REGION

7.1 North America
  7.1.1 United States
    7.1.1.1 Market Trends
    7.1.1.2 Market Forecast
  7.1.2 Canada
    7.1.2.1 Market Trends
    7.1.2.2 Market Forecast
7.2 Asia Pacific
  7.2.1 China
    7.2.1.1 Market Trends
    7.2.1.2 Market Forecast
  7.2.2 Japan
    7.2.2.1 Market Trends
    7.2.2.2 Market Forecast
  7.2.3 India
    7.2.3.1 Market Trends
    7.2.3.2 Market Forecast
  7.2.4 South Korea
    7.2.4.1 Market Trends
    7.2.4.2 Market Forecast
  7.2.5 Australia
    7.2.5.1 Market Trends
    7.2.5.2 Market Forecast
  7.2.6 Indonesia
    7.2.6.1 Market Trends
    7.2.6.2 Market Forecast
  7.2.7 Others
    7.2.7.1 Market Trends
    7.2.7.2 Market Forecast
7.3 Europe
  7.3.1 Germany
    7.3.1.1 Market Trends
    7.3.1.2 Market Forecast
  7.3.2 France
    7.3.2.1 Market Trends
    7.3.2.2 Market Forecast
  7.3.3 United Kingdom
    7.3.3.1 Market Trends
    7.3.3.2 Market Forecast
  7.3.4 Italy
    7.3.4.1 Market Trends
    7.3.4.2 Market Forecast
  7.3.5 Spain
    7.3.5.1 Market Trends
    7.3.5.2 Market Forecast
  7.3.6 Russia
    7.3.6.1 Market Trends
    7.3.6.2 Market Forecast
  7.3.7 Others
    7.3.7.1 Market Trends
    7.3.7.2 Market Forecast
7.4 Latin America
  7.4.1 Brazil
    7.4.1.1 Market Trends
    7.4.1.2 Market Forecast
  7.4.2 Mexico
    7.4.2.1 Market Trends
    7.4.2.2 Market Forecast
  7.4.3 Others
    7.4.3.1 Market Trends
    7.4.3.2 Market Forecast
7.5 Middle East and Africa
  7.5.1 Market Trends
  7.5.2 Market Breakup by Country
  7.5.3 Market Forecast

8 SWOT ANALYSIS

8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats

9 VALUE CHAIN ANALYSIS

10 PORTERS FIVE FORCES ANALYSIS

10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes

11 PRICE ANALYSIS

12 COMPETITIVE LANDSCAPE

12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
  12.3.1 Arjuna Natural Pvt Ltd.
    12.3.1.1 Company Overview
    12.3.1.2 Product Portfolio
  12.3.2 BioMax Lifesciences Ltd.
    12.3.2.1 Company Overview
    12.3.2.2 Product Portfolio
  12.3.3 Helmigs Prima Sehejtera
    12.3.3.1 Company Overview
    12.3.3.2 Product Portfolio
  12.3.4 Herboveda India Pvt. Ltd.
    12.3.4.1 Company Overview
    12.3.4.2 Product Portfolio
  12.3.5 Hindustan Mint & Agro Products Pvt. Ltd.
    12.3.5.1 Company Overview
    12.3.5.2 Product Portfolio
  12.3.6 Konark Herbals & Healthcare
    12.3.6.1 Company Overview
    12.3.6.2 Product Portfolio
  12.3.7 Rosun Natural Products Pvt. Ltd.
    12.3.7.1 Company Overview
    12.3.7.2 Product Portfolio
  12.3.8 Sabinsa Corporation
    12.3.8.1 Company Overview
    12.3.8.2 Product Portfolio
  12.3.9 Star Hi Herbs Pvt. Ltd.
    12.3.9.1 Company Overview
    12.3.9.2 Product Portfolio
  12.3.10 SV Agrofood
    12.3.10.1 Company Overview
    12.3.10.2 Product Portfolio
  12.3.11 Synthite Industries Ltd.
    12.3.11.1 Company Overview
    12.3.11.2 Product Portfolio
  12.3.12 Wacker Chemie AG
    12.3.12.1 Company Overview
    12.3.12.2 Product Portfolio
    12.3.12.3 Financials
    12.3.12.4 SWOT Analysis

LIST OF TABLES

Table 1: Global: Curcumin Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Curcumin Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 3: Global: Curcumin Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 4: Global: Curcumin Market: Competitive Structure
Table 5: Global: Curcumin Market: Key Players

LIST OF FIGURES

Figure 1: Global: Curcumin Market: Major Drivers and Challenges
Figure 2: Global: Curcumin Market: Sales Value (in Million US$), 2018-2023
Figure 3: Global: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 4: Global: Curcumin Market: Breakup by Application (in %), 2023
Figure 5: Global: Curcumin Market: Breakup by Region (in %), 2023
Figure 6: Global: Curcumin (Food and Beverages) Market: Sales Value (in Million US$), 2018 & 2023
Figure 7: Global: Curcumin (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 8: Global: Curcumin (Pharmaceuticals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 9: Global: Curcumin (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 10: Global: Curcumin (Cosmetics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Curcumin (Cosmetics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Curcumin (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Curcumin (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: North America: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: North America: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: United States: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: United States: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Canada: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Canada: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Asia Pacific: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Asia Pacific: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: China: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: China: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Japan: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Japan: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: India: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: India: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: South Korea: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: South Korea: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Australia: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Australia: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Indonesia: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Indonesia: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Others: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Others: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Europe: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Europe: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Germany: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Germany: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: France: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: France: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: United Kingdom: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: United Kingdom: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Italy: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Italy: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Spain: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Spain: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Russia: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Russia: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Others: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Others: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Latin America: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Latin America: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Brazil: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Brazil: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Mexico: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Mexico: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Others: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Others: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Middle East and Africa: Curcumin Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Middle East and Africa: Curcumin Market: Breakup by Country (in %), 2023
Figure 62: Middle East and Africa: Curcumin Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Global: Curcumin Industry: SWOT Analysis
Figure 64: Global: Curcumin Industry: Value Chain Analysis
Figure 65: Global: Curcumin Industry: Porter’s Five Forces Analysis


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