Organic Curcumin Market is Projected to Grow at a CAGR Over 9.8 % Over The Forecast Period 2017-2023
Market Research Future published a half cooked research report on the global organic curcumin market, which is estimated to grow at a CAGR 9.8 % during the forecast period 2017-2023.
Pune, India – August 7, 2017 /MarketersMedia/ —
The Global Organic Curcumin Market Information: By Application (Food, Healthcare, Personal Care, and others), By Form (Powder, Oil, Capsules, Tablets, Creams, and others), By Product Type (Red Clover Extract, Licorice Extract, Reishi Extract, and others), By Distribution Channel (Store Based, and Non-Store Based), and By Regions – Forecast Till 2023
Curcumin is the active ingredient of turmeric which is also found in limited amounts in ginger. Curcumin is a yellow colored fat soluble polyphenolic pigment which is derived from curcuminoids and is also referred to as turmeric extract. It has anti-inflammatory and anti-cancer properties. It is widely used in food, pharmaceuticals, and cosmetics industry for its anti-inflammatory and anti-oxidation properties. Curcumin is used for the treatment of diseases such as tumors, arthritis, gastric ailments and viral infections. Organic curcumin is naturally made from extracts and contains no chemicals, which is one of the reasons people prefer this product. Rising consumer awareness towards health benefits of curcumin and growing demand for nutritional supplements based out of curcumin due to increasing consumer awareness regarding its anti-cancer properties are the main drivers responsible for the growth of global organic curcumin market. Organic curcumin is also gaining popularity as an ingredient in cosmetic and herbal skin care products. Therefore, growing demand for Ayurveda and herbal skin care products is expected to drive the market during the forecast period.
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Market Forecast
With the growing consumer awareness and their increasing interest in healthy lifestyle, the demand for organic curcumin has increased recently. In addition to the changing lifestyle, the growing demand for natural and dietary food, beverages, pharmaceutical, and others is expected to drive the organic curcumin market. The global organic curcumin market is projected to propel by the increasing awareness regarding available health benefits from diseases such as cancer, tumors, arthritis, gastric ailments, and others. Increased awareness about the organic curcumin has raised the bar for quality, which, in turn, increase the market share of organic curcumin on the global level. Mass market penetration is leading to the introduction of new products based out of curcumin and their retail across various regions. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has fueled up the share of organic curcumin in the global market. High health benefits obtained from curcumin are also supporting the sale of organic curcumin globally. Additionally, the enhancement of the product development coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the organic curcumin market during the forecast period 2017-2023.
Downstream market analysis
Globalization and urbanization are major driving factors of this market. Furthermore, the popularity of curcumin and usage of natural ingredients in the production are also encouraging the growth of the organic curcumin market. Rising demand for organic products is expected to play a significant role in the growth of the global organic curcumin market during the forecast period. Additionally, the enhancement of the product development coupled with the technological advancements is considered to be one of the significant reasons that will increase the growth of the organic curcumin market over the review period of 2017-2023.
Competitive analysis
Some of the key players in the global organic curcumin market are
• Arjuna Natural Extracts Ltd (India)
• Helmigs Prima Sejahtera (Indonesia)
• Biomax Life Sciences Limited (India)
• Curcumex BV (Netherlands)
• Yangling Cuijian Bioengineering Technology Co., Ltd. (China)
• Synthite Industries Ltd. (India)
• Herboveda (India)
The demand for organic curcumin has pushed manufacturers to innovate and develop the new product lines, which are better in taste and offers various health benefits.
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Regional Analysis
The global organic curcumin market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, Asia Pacific region accounts for the major market since it’s the source region and exports to other regions. Growing food and beverages industry together with the increasing demand for pharmaceuticals and medicines as well as personal care products drives the growth of the market. Changing consumer preferences for natural, dietary, and healthy products will support the sale of organic curcumin products in various regions over the forecast period. Organic curcumin market is growing rapidly in the Asia Pacific due to growing demand for dietary supplements, cosmetics, food coloring, as well as flavoring of foods in this region. However, Asia Pacific region is estimated to witness a maximum growth in the global organic curcumin market over the forecast period 2017-2023.
Key Findings
• Awareness about healthy food and healthcare products has urged the growth of curcumin market in developing countries.
• The market growth in Asia Pacific is high compared to North America and Europe.
Segments
The global organic curcumin market is segmented on the basis of application such as food, healthcare, personal care, and others.
On the basis of form, the market is segmented into powder, oil, capsules, tablets, creams, and others.
On the basis of product type, this market is segmented into red clover extract, licorice extract, reishi extract, and others.
On the basis of distribution channel, the market is segmented into store based such as supermarkets & hypermarkets, specialty stores, food processing industries, and others, and non-store based.
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The global organic curcumin market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, Asia Pacific region accounts for the major market share followed by North America. Growing food and beverages industry together with the increasing demand for pharmaceuticals and medicines as well as personal care products drives the growth of the market. Changing consumer preferences for natural, dietary, and healthy products will support the sale of organic curcumin products in various regions over the forecast period. Organic curcumin market is growing rapidly in the Asia Pacific due to growing demand for dietary supplements, cosmetics, food coloring, as well as flavoring of foods in this region. However, Asia Pacific region is estimated to witness a maximum growth in the global organic curcumin market over the forecast period 2017-2023.
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