Global Curcumin Market 2017-2021
Curcumin is a natural yellow-orange colored compound. It is mainly obtained from the powdered root of turmeric (Curcuma longa). The molecular formula of the compound is C21H20O6. Curcumin possesses a wide range of therapeutic and pharmacological properties such as anti-inflammatory, anti-arthritic, anticancer, analgesic, anti-diabetic, antioxidant, anti-amyloid, and anti-atherosclerosis. The compound also has a decent anti-microbial property, which increases its use in food, pharmaceuticals, and cosmetics applications.
Technavio’s analysts forecast the global curcumin market to grow at a CAGR of 10.93% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global curcumin market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Curcumin Market 2017-2021
Technavio recognizes the following companies as the key players in the global curcumin market: ARJUNA NATURAL EXTRACTS, Biomax, HINDUSTAN MINT & AGRO PRODUCTS, SVagrofood, and Synthite Industries.
Other Prominent Vendors in the market are: Herboveda, Konark Herbals and Health Care, Sabinsa Corporation, and Star Hi-Herbs.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is demand for products that combat the signs of aging. The demand for anti-aging products has increased in recent times. While the male consumer base is smaller than the female consumer base for this market, the former exhibits a high growth potential. Curcumin is widely used as an anti-aging agent due to its efficient anti-oxidant and anti-inflammatory properties.”
According to the report, one of the major drivers for this market is therapeutic properties propelling the demand of curcumin. Curcumin is highly popular among consumers because of its therapeutic properties such as anti-oxidation, anti-inflammatory, and anti-cancer. These properties make curcumin preferred in several end-user industries such as pharmaceuticals, food and beverage, and personal care. Curcumin helps in regulating various transcription factors of the body such as protein kinases, cytokines, redox status, adhesion molecules, and enzymes.
Further, the report states that one of the major factors hindering the growth of this market is uncertainty in raw material supply. The increase in the popularity of natural and organic food and cosmetic ingredients has prompted food, beverage, and cosmetic manufacturers to add natural and organic ingredients and additives in their products. The growing demand for natural raw materials from food, pharma, and cosmetic manufacturers has resulted in a shortage of raw materials, especially seasonal products such as turmeric extracts.
ARJUNA NATURAL EXTRACTS, Biomax, HINDUSTAN MINT & AGRO PRODUCTS, SVagrofood,Synthite Industries, Herboveda, Konark Herbals and Health Care, Sabinsa Corporation, and Star Hi-Herbs.