Curcumin Market Forecast 2018 -2024 Company Profile Analysis - BIOMAX LIFE SCIENCES LIMITED, Synthite Industries Ltd, HINDUSTAN MINT AND AGRO PRODUCTS PRIVATE LIMITED, Arjuna Natural Extracts Ltd, SV Agrofood, Star Hi Herbs Pvt Ltd. – India

Curcumin market is witnessing a strong growth path with the product’s wide array of applications in food and medical industries, the demand of which is owed to its exceptional therapeutic properties. Major risks pertaining to adulteration of ingredients has now shifted the consumer focus toward organic products. Curcumin is gaining high preference as a natural ingredient as it is an extracted molecule of turmeric, which belongs to the ginger family. The growing awareness among the consumers regarding the nutritional benefits of curcumin and its anti-inflammatory, anti-fungal, and anti-oxidation properties has further propelled the curcumin industry growth. Moreover, the use of curcumin as anti-blemishes and anti-pigmentation agent in herbal skin care products has provided significant impetus to the global curcumin market trends.

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Company Profiles
1. BIOMAX LIFE SCIENCES LIMITED
2. Synthite Industries Ltd
3. HINDUSTAN MINT AND AGRO PRODUCTS PRIVATE LIMITED
4. Arjuna Natural Extracts Ltd
5. SV Agrofood
6. Star Hi Herbs Pvt Ltd. – India
7. Herboveda India
8. Food&Feed Additives
9. Tri Rahardja PT
10. Konark Herbals & Health Care

U.S. curcumin market has gained significant traction from the rising product demand in the cosmetic sector. In the past few years, the popularity of organic and ayurvedic products have increased exponentially among the consumers, which has significantly increased the regional demand. Evidences showing the use of curcumin as an anti-cancer drug has also set the US market to record lucrative avenues in future. U.S. curcumin industry share from cosmetics applications is foreseen to record a CAGR of 10% over the period of 2016-2024.
The presence of anti-oxidants in curcumin has driven the curcumin market size in the cosmetic sector, which is projected to witness highest growth rate of over 13% over the period of 2016-2024.
India is a dominant curcumin producer, contributing nearly 78% of the global output. The nation is a hub to many large and small scale manufacturers of curcumin products and has a healthy market dynamics. Some of the major herbal cosmetics and skin care brands extensively using curcumin in their product include Shahnaz Husain, Himalaya Herbals, and Vicco. However, despite being the largest producer of curcumin, low customer awareness in the nation has resulted into majority of the product being exported to North America and Europe.
Pharmaceutical accounted for more than 50% of the total industry demand in 2016. Increasing geriatric population along with growing preference for healthier lifestyle is resulting in more health supplements demand. Shifting trend towards more reliable and long-term impacting health solutions is offering opportunities for herbal extracts supplements industry.
Food sector will foresee gains over 12% up to 2024. Increasing application scope in the food & beverages sector due to rising demand for the natural colorants is a lucrative factor to favor the product demand. The product is widely used to flavor and color the foodstuffs including butter, margarine, cheese, mustard, and pickles.
Cosmetics will be valued at over 5 million by 2024. The skin care industry is expected to benefit from consumer preference to avoid chemicals ingredients derived from synthetic sources. Emerging economies including India and China have seen a tremendous growth of such products in the past few years owing to growing awareness about the ill effects of synthetically derived products and rise in living standard.
North America curcumin market will grow over 11.5% up to 2024. The industry growth is mainly driven by rise in aging population and presence of several cosmetic international brands in the region. The product is a well-recognized ingredient for pharmaceuticals for its high quality medical and herbal properties in the region.
Asia Pacific market generated more than USD 5 million in 2016. Increased research & development activities owing to rising applications of curcumin in the treatment of cancer acts as a key driving factor for curcumin market growth in Europe. Additionally, manufacturers are mainly concentrated in India owing to the high content of the product in the Indian turmeric products.
Global industry is fragmented with presence of numerous international and local industry players. Some of major players include Synthite Industries, Biomax Lifesciences, and Hindustan Mint and Agro Products.

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