At over 11% CAGR, Curcumin Market is set to exceed USD 100 million by 2024

Curcumin Market to witness potential application in treatment of uterine, renal, prostate, pancreatic, ovarian, oral, lung, live, breast, brain and bladder cancers.

Selbyville, United States – June 28, 2019 /MarketersMedia/ —

North America curcumin market accounted for over 50% of overall industry share. Increased R&D activities due to rising application scope of the product in treatment of cancer turns as a key driving factor for industry growth. Growing demand for ayurvedic and personal care products are the major drivers behind industry growth

Europe curcumin market will observe gains at 14.6% by 2024. Growing demand for dietary supplements in the region has resulted in the increased demand for curcumin market. Increased regulatory support along with the growth in consumer awareness is likely to be the major factor responsible for the high market growth in region.

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Pharmaceutical application accounted for more than 50% of total industry share in 2016. Potential application treatment of renal, uterine, pancreatic, prostate, ovarian, liver, oral, lung, breast, bladder and brain cancers is likely to provide lucrative opportunity for industry growth. Increased usage of product in combination with various other agents for treating cancer & numerous other diseases will propel the product demand.

Food application segment will reach up to USD 40 million by 2024. Growing food supplements & herbal medicinal industry will drive the product demand in this segment. Rise in ayurvedic and herbal product launch by several key vendors for catering to increasing demand will help in increasing industry share.

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Expansion in pharmaceutical industry will drive curcumin market owing to its prevalence in treating various diseases including cancer. Global cancer drug industry was worth over USD 100 billion in 2015 and is expected to surpass USD 145 billion over the forecast period. Rising demand for anti-cancer, anti-inflammatory and anti-oxidation property materials in medicines will drive curcumin market growth.

Increased protection from degradation, reduced skin irritancy, controlled release, improved stability, increased surface area and higher solubility are the key properties supporting the product demand in cosmetic industry. Increasing exposure to ultraviolet radiation and rise in pollution is anticipated to propel product demand due to its antioxidant properties.

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Increase in aging population has also added to product demand due to its anti-aging properties. Rising demand for the ayurvedic personal care products is a major trend behind growth of curcumin market. Several key vendors are launching the ayurvedic and herbal products for catering to increasing demand for the organic and natural products, this will help them in gaining a large industry share. Products including, curcumin, green tea, aloe vera, and barry grass are gaining popularity in organic products industry.

Increasing consumer health awareness pertaining to ingredients presence in medicines, food and cosmetic products are key factors enhancing manufacturers to adopt organic ingredients in production formulations. However, limited therapeutic potential of the product due to poor bio availability may hamper the industry growth.

Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/curcumin-market

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Source: MarketersMedia

Release ID: 88891001