Global Curcumin Market Report and Forecast 2024-2032

Global Curcumin Market Outlook

The global curcumin market size is projected to grow at a CAGR of 9.1% between 2024 and 2032. The market is expected to be driven by the rising use of curcumin in preventative healthcare in the forecast period.

Key Takeaways

• The global trend towards natural and holistic health solutions positions curcumin as a key ingredient in various products.

• Techniques such as nanoparticle formulation and liposomal encapsulation have shown promising results in increasing the bioavailability of curcumin.

• In the Asia Pacific, curcumin demand is robust due to its deep integration into traditional Asian medicine.

Curcumin is a bright yellow chemical produced by plants of the Curcuma longa species, primarily known for being a component of the spice turmeric, a member of the ginger family. It is the compound that gives turmeric its distinctive yellow colour. Beyond its culinary uses, curcumin is also renowned for its medicinal properties and has been a staple in traditional medicine systems like Ayurveda and Chinese medicine for thousands of years.

The increasing consumer awareness of the health benefits offered by curcumin is one of the major factors driving the curcumin market growth. Curcumin is widely used in cosmetics and the pharmaceutical sector, especially Ayurvedic formulations.

Curcumin comes in several forms, such as capsules, tablets, ointments, energy drinks, soaps, and cosmetic products and is extensively used in skin care preparations owing to its antioxidant, anti-inflammatory, and anti-ageing effects. Younger adults who use turmeric for antioxidant and recovery support, and older consumers seeking the benefits of turmeric for joint support and memory indications also boost the demand for curcumin.

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Key Trends and Developments

The rising popularity of curcumin-based supplements; the rising use of curcumin in the cosmetic and personal care sector; the focus on sustainable and ethical sourcing; and Increased innovations in bioavailability are the major trends impacting the curcumin market growth.

One of the prominent factors aiding the curcumin market expansion is the rising popularity of curcumin-based nutraceuticals, dietary supplements, and functional foods due to growing consumer inclination towards natural products, coupled with a rising awareness of their potential health benefits.

In a global shift towards health and wellness, consumers are increasingly proactive about their health and there is a heightened interest in supplements and foods that offer health benefits beyond basic nutrition. Curcumin, with its array of potential health benefits, aligns well with this trend.

The CSIR-National Botanical Research Institute (NBRI) has made a noteworthy advancement by licensing the technology for Croma-3, a curcumin-based edible capsule, to M/s Xavier Med Pvt. Ltd., a Hyderabad-based company. This move aims to increase the market presence of Croma-3, tapping into curcumin's health-enhancing properties and expanding the reach of this beneficial supplement to a broader consumer base.

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Market Segmentation

“Curcumin Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Power dominates the curcumin market share due to its easy integration with a variety of products.

Curcumin powder can be easily incorporated into various products, including dietary supplements, food and beverages, cosmetics, and pharmaceuticals as its powdered form allows for straightforward mixing and formulation, making it a preferred choice for manufacturers. As a powder, curcumin tends to be more stable and has a longer shelf life compared to liquid formulations and this stability is crucial for maintaining the efficacy and quality of the product over time.

The liquid segment also holds a significant share of the curcumin market as it can often improve the bioavailability of curcumin. This is particularly important, given curcumin's natural low bioavailability.

Liquid curcumin is easy to consume, especially for individuals who have difficulty swallowing pills or capsules, which makes it a preferred choice for children, elderly consumers, or anyone who prefers not to take solid supplements.

The food sector maintains a steady growth due to growing applications of curcumin in food products.

The food sector holds a significant share of the market, primarily due to curcumin's versatile use as a natural colouring agent and spice. Curcumin is widely used as a natural colouring agent in the food sector as its vibrant yellow-to-orange colour is preferred over synthetic dyes, especially given the rising consumer demand for natural and clean-label products. As the main ingredient in turmeric, curcumin imparts a distinct flavour to various culinary dishes as it is a staple in many Asian cuisines and is increasingly being adopted in Western and other global cuisines as well.

There is a rising usage of curcumin in the pharmaceutical sector as it is used in the treatment and management of various conditions, such as arthritis, metabolic syndrome, anxiety, and certain types of cancers, making it a valuable compound in pharmaceutical formulations. As the trend towards natural and alternative medicine is increasing amid customers’ preference for natural supplements and treatments over synthetic drugs, especially for chronic conditions, the curcumin market is witnessing a healthy growth.

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Competitive Landscape

Major players in the market are increasing their research and development activities as well as introducing novel technologies to gain a competitive edge in the market.

Other players in the market are Nuvothera, Inc. and Shaanxi Jiahe Phytochem Co., Ltd, among others.

Numerous players in the curcumin market are actively researching to uncover curcumin's potential healthcare benefits. This effort aims to scientifically validate its traditional uses and discover new therapeutic properties, potentially opening up new applications in healthcare and expanding its market presence.

Curcumin Market Analysis by Region

The demand for curcumin in Europe has been on a notable rise, driven by several factors that resonate with the region's consumer preferences, regulatory environment, and market trends. European consumers are increasingly health-conscious and are seeking natural supplements and ingredients that offer health benefits. Curcumin, known for its anti-inflammatory, antioxidant, and potential anti-cancer properties, aligns well with the growing trend of preventive healthcare and wellness in Europe.

There is also a significant shift towards natural, organic, and clean-label products in Europe and curcumin, being a natural extract from turmeric, is favoured as a food additive, colouring agent, and dietary supplement.

The curcumin market in the Asia Pacific is also substantially growing as turmeric has deep roots in the traditional medicine systems of many countries in Asia, such as Ayurveda in India and traditional Chinese medicine. Economic growth in the region has led to an expanding middle class with higher disposable income and this economic empowerment allows individuals to invest more in health and wellness products, including dietary supplements like curcumin.

Key Highlights of the Report