Curcumin Market Share Grow at 10.0% CAGR, Forecasted to Reach USD 160.62 Million By 2030: Global Report by Polaris Market Research

The global curcumin market size is expected to reach USD 160.62 million by 2030, according to a new study by Polaris Market Research.

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Curcumin is a hydrophobic and lipophilic compound, and the pharmaceutical industry uses it primarily for its traditional medicinal use. Diverse studies are also being conducted to determine the best ways to administer curcumin for the treatment of cancer and a variety of neurological illnesses using various nanoparticles, including dendrimers, polymeric nanoparticles, and nanogels.

It has been demonstrated to offer major health advantages and the ability to prevent several diseases, such as Alzheimer's, coronary heart disease, and cancer. Furthermore, the rising prevalence of chronic diseases has increased the demand for curcumin which is driving the market growth. For instance, as per the Alzheimers Association, more than 6 million Americans have Alzheimer's disease. This figure is anticipated to increase to around 13 million by 2050.

Deaths from Alzheimer's and dementia increased by 17% in 2020 as a result of COVID-19. Alzheimer's disease and other dementias will cost the country $321 billion in 2022. These expenses may top $1 trillion by 2050. Further, according to the Centers for Disease Control and Prevention (CDC), the most prevalent kind of heart disease, coronary heart disease, has around 382,820 lives in 2020.

In adults 20 and older, CAD affects roughly 20.1 million people (about 7.2 percent ). In 2020, people under 65 will account for nearly 2 in 10 deaths from CAD. Also, as per the WHO, roughly 10 million deaths were caused by cancer in 2020. Thus, the rising disease prevalence of diseases has increased the demand for the industry for treatment is the factor that is boosting the market growth over the forecast period.

Demand for the product will rise around the world as customers become more aware of its medical properties and health advantages. Product demand will also be boosted by changes in consumer patterns and growing knowledge of the advantages of employing organic and natural components in food, cosmetics, and medical applications. It has beneficial anti-oxidation and anti-inflammatory qualities, making it a top pain treatment option for people with osteoarthritis and rheumatoid arthritis.

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Curcumin Market Report Highlights
• Food application segment is anticipated to grow at a lucrative CAGR over the forecast period due to the widespread use of the product as a food additive.
• Organic segment accounted for a significant share in 2021. The worldwide market for organic curcumin is expanding as a result of the rising health advantages associated with curcumin. Additionally, the demand for organic curcumin is primarily driven by the increase in plant-based feed additives.
• Europe is expected to grow at a significant CAGR over the projected period owing to the mature cosmetics and personal care market in the region. The region is expanding as a result of increased attention being paid to the advertising of capsules and tablets that support the health of the immune system, joints, and gastrointestinal tract.
• The global market is highly competitive owing to the existence of large industry players with a global presence including Arjuna Natural, BioMaxLifesciences Ltd., Hindustan Mint., Rosun Natural Products., Synthite Industries Ltd, Sabinsa Corporation, Star Hi Herbs., and WackerChemie AG

Polaris Market Research has segmented the curcumin market report based on nature, application, and region:

Curcumin, Nature Outlook (Revenue - USD Million, 2018 - 2030)
• Organic
• Conventional

Curcumin, Application Outlook (Revenue - USD Million, 2018 - 2030)
• Food & Beverages
• Pharmaceutical
• Cosmetics
• Others

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This release was published on openPR.