Curcumin Industry is set to register over 11% CAGR between 2021 and 2027 driven by rising applications of curcumin in the treatment of multiple diseases.
Selbyville, Delaware, July 15, 2021 (GLOBE NEWSWIRE) --
Global curcumin market value is expected to surpass USD 145 million by 2027, according to a new research report by Global Market Insights Inc. A potential application of curcumin in the treatment of renal, uterine, pancreatic, prostate, ovarian, oral, lung, live, brain, breast, and bladder cancer are likely to provide a significant opportunity for the market expansion.
The curcumin industry from cosmetics is set to register over 13.5% CAGR over the forecast timeframe propelled by rising consumer spending on cosmetic and personal care products along with a rise in disposable income across the globe.
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Some major findings of the curcumin market report include:
The pharmaceutical application segment is projected to witness a lucrative owing to the growing geriatric population, changing consumer lifestyle, and growing preference for health supplements.
Major players in the curcumin industry are focusing on strategic initiatives, such as advancements in technology, brand portfolio expansion, product development, and mergers & acquisitions, to strengthen their global presence.
Biomax Life Sciences, Synthite Industries, Hindustan Mint & Agro Products, Arjuna Natural Extracts, SV Agrofood, and Star Hi Herbs are some of the key players holding a strong share in the market.
North America held the largest volume share of about 55% in the global market and is anticipated to register over 9.5% CAGR owing to growing applications of curcumin in pharmaceuticals.
Browse key industry insights spread across 160 pages with 214 market data tables and 25 figures & charts from the report, “Curcumin Market Forecasts, By Application (Pharmaceutical, Food, Cosmetics), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
The other application segment of curcumin market is anticipated to exceed USD 1,088.9 thousand by 2027 growing at a CAGR of 11%. The other applications of curcumin include dying and dye-sensitized solar PV technology. The product is known to have long intense wavelength absorption in visible region ranging from 420 to 580 nm. Thus, making it a promising material for use in dye sensitized solar cells. The color is utilized as a shading agent in drug stores, dessert shops, and rice processing & sustenance enterprises. These factors will fuel global curcumin industry size.
Asia Pacific curcumin market is anticipated to witness a significant CAGR of over 14% from 2021 to 2027. The demand for curcumin is anticipated to be extensive in Asia Pacific due to the increasing demand from skincare & cosmetic product manufacturers. Herbal goods offered by these producers in Asia Pacific are rapidly penetrating the European and North American markets. Fluctuating consumer fondness toward food products retaining natural food pigments is projected to upsurge demand for curcumin in food applications.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/curcumin-market
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