The global Curcumin
Market is forecasted to reach USD 135.4 Million by 2027, according to
a new report by Reports and Data. The market is witnessing a surge in demand
owing to the rising customer consciousness about the health benefits and
therapeutic properties of curcumin. Moreover, the rising trend of using natural
ingredients in cosmetic products is fostering the market demand. However, the
availability of cheaper synthetic products is hampering the growth of the
market.
Furthermore, the report
discusses the business strategies undertaken by the companies to gain market
share and a larger consumer base. It further provides details on the strategic
initiatives taken by the companies to expand their business, such as mergers
and acquisitions, joint ventures, collaborations, product launches,
partnerships & agreements, recent deals, government deals, and advancements
in technologies and products.
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Key participants
include SV Agrofood, Biomax Life Sciences Ltd., Konark Herbals and Health Care,
Star High Herbs Pvt. Ltd., Hebei Food Additive Co. Ltd., Arjuna Natural
Extracts Ltd., BioThrive Sciences, Synthite Industries Ltd., Herboveda India
Pvt. Ltd., and Hindustan Mint & Agro Products Pvt. Ltd., among others.
Further key findings
from the report suggest
- The largest application of curcumin
is in the pharmaceutical sector, and it occupied 55.7% of the market in
2019. This is primarily because of the increasing awareness regarding the
health benefits of curcumin. Pharmaceutical Grade Curcumin witnessed has
garnered substantial importance and occupied 56.6% of the market share in
2019 because of the huge demand for the product in the clinical
applications, such as the treatment of Arthritis, migraine, diabetes,
liver diseases and skin wounds.
- The food-grade sub-segment occupied
36.2% of the market in 2019, mainly due to the increasing use of curcumin
in food in the developed countries and developing countries like China and
India. Food-grade is forecasted to grow at a CAGR of 11.7% in the forecast
period.
- Offline stores dominated the
distribution channel and occupied 77.18% of the market share in 2019. The
major reason behind this is that internet penetration is low in many
areas, and the majority of the population still prefers to buy groceries
offline in developing countries.
- North America dominated the market
for curcumin in 2019. The reason behind this is that the population in this
region is highly educated, and hence consumer awareness regarding the
health benefits and cosmetic applications is high. Also, the people in
this region have started to shift towards organic substances, thus leading
to an increase in the demand of curcumin.
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For the purpose of this
report, Reports and Data have segmented into the global Curcumin market on the
basis of Application, Type, Distribution Channel, and Region:
Application Outlook
(Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Food
- Cosmetics
- Pharmaceuticals
- Other Uses
Type Outlook (Volume,
Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Food Grade
- Cosmetics Grade
- Pharmaceutical Grade
Distribution Channel
Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Offline Stores
- Online Stores (E commerce)
Regional Outlook
(Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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full report here @
https://www.reportsanddata.com/report-detail/curcumin-market
Objective of Studies:
·
To
provide detailed analysis of the market structure along with forecast of the
various segments and sub-segments of the global Curcumin market.
·
To
provide insights about factors affecting the market growth. To analyze the Curcumin
market based on various factors- price analysis, supply chain analysis, Porte
five force analysis etc.
·
To
provide historical and forecast revenue of the market segments and sub-segments
with respect to four main geographies and their countries- North America,
Europe, Asia, Latin America and Rest of the World.
·
To
provide country level analysis of the market with respect to the current market
size and future prospective.
·
To
provide country level analysis of the market for segment by application,
product type and sub-segments.
·
To
provide strategic profiling of key players in the market, comprehensively
analyzing their core competencies, and drawing a competitive landscape for the
market.
·
To
track and analyze competitive developments such as joint ventures, strategic
alliances, mergers and acquisitions, new product developments, and research and
developments in the global Curcumin market.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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