According to the research report titled, ‘Global Curcumin Market Size study, by Application (Pharmaceutical, Food, Cosmetics) and Regional Forecasts 2021-2027,’ available with MarketStudyReport, global curcumin market was worth USD 5.1 million in 2020 and is expected to register an annual growth rate of 16.1%, thereby generating USD 165 million by the end of the forecast duration.
 

As per the report findings, the rapid progression of global curcumin market can be credited to the inherent nature of the product such as anti-inflammatory, anti-cancer, and antioxidant properties. Besides, escalating demand from skin care applications due to its ability to cure skin problems like sore skin, leech bites, and dark circles among others. along with growing adoption in herbal medicals are positively swaying market dynamics.
 

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For the unversed, curcumin is basically an active ingredient that is extracted from ginger and turmeric. It is widely used for medical and skincare purposes due to its multiple benefits. In addition, surging consumer cognizance about the therapeutic properties of the product along with its widespread application in spice production are aiding industry outlook.
 

On the contrary, the emergence of cheap synthetic food colorants along with formulation challenges in curcumin-based products are hampering the remuneration scope of global curcumin market in the ensuing years.
 

Based on application, the industry vertical is segmented into food, cosmetics, pharmaceutical, and others.
 

Regionally speaking, North America, Europe, Latin America, and Asia Pacific are considered to understand the present trends on this business sphere. Among these, North America presently holds a significant market share accreditable to increasing awareness regarding the consumption of healthy products and rising demand for food and nutritional supplements in the region.
 

Meanwhile, Europe market is projected to amass notable gains during 2021-2027 owing to the presence of an established personal care & cosmetic industry in nations like Spain, Germany, and Italy.
 

Key players defining the competitive hierarchy of global curcumin market are Herboveda India Pvt. Ltd., Phyto Life Sciences P. Ltd., NOW Foods Private Limited, Star Hi Herbs Pvt. Ltd., SV Agrofood, Arjuna Natural Extracts Ltd., Konark Herbals & Health Care, BioThrive Sciences LLC, Synthite Industries Ltd., and Biomax Life Sciences Limited.