Curcumin Market Expected to Reach $104.19 Million, Brief Analysis on Top Key players such as Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pv

Rise in consumer awareness regarding health benefits of curcumin, growth in demand for herbal nutritional supplements and increase in the scope of application of curcumin in the cosmetic and pharmaceutical industry are the major factors that drive the global curcumin market.

According to a new report published by Allied Market Research, titled,"Curcumin Market by Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025" the global curcumin market was valued at $52.45 million in 2017, and is projected to reach $104.19 million by 2025, registering a CAGR of 8.9% from 2018 to 2025. In 2017, the pharmaceutical segment accounted for more than 50% share of the global curcumin market in terms of value.

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Enhanced health consciousness, multiple health benefits of curcumin, and increased need of natural & organic supplements have fueled the demand for curcumin in the past few years, thus propelling the growth of the curcumin market. In addition, factors such as living a healthy life, rise in demand for organic-based foods as well as ayurvedic medicinal formulations, and innovations in pharmaceutical & skincare products using curcumin have supplemented the growth of the global curcumin market. However, the presence of cheaper synthetic food colorants and formulation challenges in curcumin-based products affect the growth of the market. Inclusion of curcumin in ayurvedic as well as herbal nutritional supplements and skincare products is expected to increase the popularity and demand for curcumin in the coming years.

The report on the global curcumin market is segmented based on application and geography. Based on application, the report includes pharmaceutical, food & beverage, cosmetic, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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North America was the largest market for curcumin, both, in terms of value and volume in 2017. Factors such as growth in population, increase in health awareness and introduction of innovative products propel the growth of curcumin. The Europe region is projected to be the fastest-growing market in terms of value and is estimated to grow at a CAGR of 9.5% during the forecast period. This development is predominantly determined by the increase in consumer expenditure on pharmaceutical and nourishment products along with positive regulations improving its overall market.

Pharmaceutical was the largest segment that accounted for more than half the share of the global industry revenue in 2017. Curcumin is used as an important ingredient in many medical and food applications owing to its anti-inflammatory, antioxidant, and cartilage building properties. Pharmaceutical industries are actively trying to formulate curcumin-based medicines in the form of powder, capsules, and syrups for treatment of numerous diseases and health problems such as healing wounds, treating sprains, arthritis, liver problems, diabetes, gastric problems, Alzheimer, and migraine. Increase in scope of its application in the pharmaceutical and cosmetic industry is expected to boost the growth of the curcumin market during the forecast period.

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The key players operating in this market are Biomax Life Sciences Ltd., Synthite Industries Ltd., BioThrive Sciences, Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd, NOW Foods, Phyo life Sciences and Herboveda India Pvt. Ltd.

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