Curcumin Market sales are predicted to achieve a valuation of US$ 279.3 million in 2031, according to a recent market analysis by Future Market Insights (FMI), with a CAGR of roughly 11.3 percent during the forecast period. Concerns about the negative effects of artificial additives in food are driving the demand for clean-label food goods and ingredients. Food makers are incorporating natural and plant-based components for flavor and color as a result of consumer discontent with synthetic food items.
According to studies, tar-based artificial hues including erythrosine Aluminum Lake, dazzling blue aluminum lake, Allura red, and sunset yellow cause cancer, brain tumors, and hypersensitivity in youngsters, and are therefore extensively criticized for their contents. Natural alternatives are in high demand due to concerns about the adverse effects of synthetic and chemical additives used in food and beverages, cosmetics and personal care items, and pharmaceuticals. Synthetic supplements lack the minerals that natural and plant-based substances provide.
As a result, manufacturers are concentrating their efforts on developing new curcumin supplements with greater advantages to broadening their product offers and consumer base. In the Indian spice industry, curcumin is still one of the most essential ingredients. Several studies, however, have suggested that it could be used in the nutraceutical business. Curcumin was one of the top ten bestselling supplements in 2016, according to Nutrition Business Journal.
Key Takeaways:
- In 2021, the United States is expected to account for more than 79.0 percent of the North American market, owing to the rising demand for curcumin-derived protein products.
- In 2021, China is expected to account for more than half of all sales in the East Asia market.
- In 2021, Germany is predicted to dominate the European curcumin market, accounting for 16.3 percent of the whole market.
- India will emerge as a promising curcumin market in 2021, accounting for nearly 45.2 percent of all curcumin sales in South Asia.
- Antioxidant applications of curcumin are expected to account for approximately a third of the total curcumin market share in 2021.
Competitive Landscape
To meet the increased demand for natural and organic components, key players in the global curcumin market are focused on expanding their manufacturing facilities. Aside from that, to achieve a competitive advantage, manufacturers are applying numerous methods such as marketing and promotional activities, developing distribution channels, and adopting sustainable production.
BioMax Life Sciences, Herboveda India Pvt Ltd., Hebei Tianxu Biotech Co. Ltd., JIAHERB Inc., Synthetic Industries Ltd., BioThrive Science, Sabinsa Corporation, The Green Labs LLC., WackerChemie AG, Hindustan Mint & Agro Products Pvt Ltd, Helming’s Prima Sehejtera P.T, Arjuna Natural Extracts Ltd., SMP Nutra, SV
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