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According to a report by Global Market Insights, Inc., the global curcumin market size could cross USD 145 million in value through 2027.Famed for its wide-ranging health benefits, curcumin is estimated to record substantial demand over the coming years in view of rising cases of renal, pancreatic, ovarian, prostate, uterine, lung, oral, breast, brain, liver, and bladder cancer. According to studies, curcumin has a variety of health benefits, one of which includes fighting cancer cells. Additionally, the chemical compound has proven to be an effective treatment against COVID-19 as it carries anticoagulant and antithrombotic properties.
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Mentioned below are some of the factors that are likely to influence is growth:
Demand for premium beauty products in APAC
Rise in standard of living and improvement in consumer spending across Asia Pacific has supported an increase in demand for premium skincare and cosmetic products. Growing consumer inclination towards herbal and natural products that include comparatively fewer chemicals have encouraged cosmetic manufacturers to add curcumin as an active compound given to its anti-inflammatory, antioxidant, and antiaging activity. Producers in Asia Pacific are also eyeing on exporting herbal products to international markets like Europe and North America which may scale curcumin market prospects.
Integral use in food & beverage sector
Increasing demand for food products that contain natural colors will support the use of curcumin in food sector. Curcumin is used as a flavoring agent and colorant in food products like cheese, mustard, margarine, butter, and pickles.
Additionally, curcumin is also soluble in water and is steadily making its way into baked products, dairy products, canned beverages, ice creams, yogurts, biscuits, cakes, popcorn-color, sauces, and cereals. Rise in product awareness will support the use of curcumin in cakes, jams, fruit drinks, and liquor. Extensive application of the product in different types of food items will meanwhile accelerate its demand in the food and beverage sector.
Use in dyeing solutions
Curcumin has found extensive use in dyeing and dye-sensitized solar PV solutions. The product is known to comprise of long intensive wavelength absorption in visible regions between 420 to 580 m, making it a promising material for use in dye-sensitized solar cells. The color is used as a shading agent in dessert shops, drug stores, and rice processing and sustenance enterprises. In this regard, the shading agent is also used in the paint and varnish sector.
Favorable business landscape
Curcumin companies are constantly developing and expanding their product portfolio to meet the demand from various sectors. In February 2020, Indian company- Arjuna Natural Pvt. Ltd. launched a line of certified organic turmeric extracts including the clinically studied- BCM-95® (Curcugreen®).
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights Inc.
Address: 4 North Main Street, Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Website: https://www.gminsights.com/pressrelease/curcumin-market
Release ID: 89041107
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