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The Growing Awareness Regarding The Health Benefits That Curcumin Provides Is Driving The Demand For The Market. The global Curcumin Market is forecasted to reach USD 135.4 Million by 2027, according to a new report by Reports and Data. The market is witnessing a surge in demand owing to the rising customer consciousness about the health benefits and therapeutic properties of curcumin. Moreover, the rising trend of using natural ingredients in cosmetic products is fostering the market demand. However, the availability of cheaper synthetic products is hampering the growth of the market.Growing awareness amongst consumers about their healthy well-being is augmenting the demand for the market product. New and existing cosmetic companies focusing on natural ingredients and using curcumin as one of the primary ingredients is leading to increasing demand for the market. A rise in the acceptance of Ayurvedic medicines is helping the market size of curcumin due to its high value in Ayurvedic formulations.
This report covers the recent COVID-19 incidence and its impact on Curcumin Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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Key participants include SV Agrofood, Biomax Life Sciences Ltd., Konark Herbals and Health Care, Star High Herbs Pvt. Ltd., Hebei Food Additive Co. Ltd., Arjuna Natural Extracts Ltd., BioThrive Sciences, Synthite Industries Ltd., Herboveda India Pvt. Ltd., and Hindustan Mint & Agro Products Pvt. Ltd., among others.
For the purpose of this report, Reports and Data have segmented into the global Curcumin market on the basis of Application, Type, Distribution Channel, and Region:
Application Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Food
• Cosmetics
• Pharmaceuticals
• Other Uses
Type Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Food Grade
• Cosmetics Grade
• Pharmaceutical Grade
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• Offline Stores
• Online Stores (E commerce)
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Regional Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
• The largest application of curcumin is in the pharmaceutical sector, and it occupied 55.7% of the market in 2019. This is primarily because of the increasing awareness regarding the health benefits of curcumin. Pharmaceutical Grade Curcumin witnessed has garnered substantial importance and occupied 56.6% of the market share in 2019 because of the huge demand for the product in the clinical applications, such as the treatment of Arthritis, migraine, diabetes, liver diseases and skin wounds.
• The food-grade sub-segment occupied 36.2% of the market in 2019, mainly due to the increasing use of curcumin in food in the developed countries and developing countries like China and India. Food-grade is forecasted to grow at a CAGR of 11.7% in the forecast period.
• Offline stores dominated the distribution channel and occupied 77.18% of the market share in 2019. The major reason behind this is that internet penetration is low in many areas, and the majority of the population still prefers to buy groceries offline in developing countries.
• India is the largest producer of curcumin, majorly because of the large applications of curcumin in the food segment, apart from the pharmaceutical and cosmetic segment, which is also prevalent in the rest of the world. India is responsible for about 80% of the production of curcumin in the world and is accountable for 60% of the exports.
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