The global curcumin market growth is benefitting tremendously from the extensive research and development initiatives that are being carried out in research institutions all across the world. Curcumin, known for its anti-inflammatory, anti-oxidant as well as anti-cancer properties, is being solicited by the pharmaceutical industry for treatment of several diseases. These research studies are being funded by governments and companies worldwide and are together contributing towards increasing the curcumin market size. In a breakthrough 2017 research conducted by researchers at the University of California, Los Angeles, and published in the American Journal of Geriatric Psychiatry, curcumin was proven to have a positive impact in the treatment of neurodegenerative disease. The study suggested that curcumin supplementation may have the ability to reduce inflammation and alleviate other symptoms associated with neurodegenerative diseases. The research was groundbreaking as it focused on the bioavailability of curcumin, thus reducing possibility of the placebo effect impacting the treatment. These findings will have a positive effect directly on the curcumin market, as its demand will increase from the pharmaceutical industry after it receives formal accreditation from the U.S. Food and Drug Administration (FDA). In 2019, Rejuvan, LLC, a globally prominent pharmaceutical company, launched a range of scientifically proven anti-aging products, which featured a pharmaceutical grade supplement titled VOLT03, made out of bioavailable curcumin. A study conducted on VOLT03 and presented in Undoing Aging 2019, the world’s largest anti-aging conference, provided noticeable impetus to the curcumin market by highlighting benefits of using this anti-aging compound for cosmetics and drugs. Owing to immense research in the pharmaceutical industry on addition of curcumin to anti-aging and anti-inflammatory drugs and ointments, the curcumin market growth will continue at a healthy CAGR of 10% during the forecast period of 2019-2025. In 2018, the global curcumin market size accounted for a revenue of $56m.
North America Leading in Curcumin Market Share
North American countries, primarily the U.S. and Canada, are facing a noticeable rise in the geriatric population size. Increase in the aging demographic has occurred due to several reasons, with the primary one being an influx of immigrants, affected by World War II, during the 1950s. Moreover, improved healthcare systems in the two countries have also contributed to increase in the geriatric population. According to a report released by the U.S. Census Bureau in 2018, the geriatric population in U.S. will reach 78 million by 2035, thus trumping the number of young people in the country, for the first time. The older section of the population completely changes the landscape of healthcare facilities in the country. Not only is this population segment more prone to a variety of diseases, but they also require accentuated care due to their limited mobility capabilities. Older people suffer from diseases such as osteoarthritis, cardiovascular issues, neurodegenerative illnesses, and others, which form the basis of several research studies involving curcumin. For nearly all of these diseases, curcumin is being cited as a major component for alleviating symptoms, a factor which has helped the curcumin market to grow. The U.S. also houses the Global Curcumin Association in Texas which is working to highlight the importance of this compound in reduction of these diseases.
Furthermore, a rising demand for nutraceuticals supplements has been observed in North America. According to IndustryARC’s research, the nutraceuticals ingredients market earned a global revenue of $31.4 billion in 2018. Curcumin is one of the most prominent ingredients added to nutraceuticals supplements prescribed for treating nutritional deficiency in the body. According to Sabinsa Corporation, “multiple health benefits shown by an extensive body of science underscore high demand for curcumin products globally.” Nutraceuticals market companies have now started funding research on the benefits of adding this compound to dietary supplements.
North America held a share of 50% out of the total revenue earned by the curcumin market globally.
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Curcumin Market Growth Drivers
Curcumin is an ingredient derived from turmeric, and is normally found in the root of the plant curcuma longa. It has anti-inflammatory and anti-oxidant properties that help in alleviating symptoms of several diseases including psoriasis, arthritis, osteoarthritis, and others. The sales of curcumin-based products have increased immensely in all parts of the world owing to increasing consumer trends of using organic food ingredients. People around the world are soliciting curcumin supplements for skincare benefits, anti-cancer effects, and in other uses.
- Rising Prevalence Of Arthritis
Healthcare professionals around the world are citing arthritis as one of the leading causes of human disability. According to the Arthritis Foundation, headquartered in the U.S., approximately 54 million adults suffer from arthritis in the country. Moreover, this disease has afflicted even children and babies. According to the same estimates, approximately 300,000 babies in the U.S. suffer from this disease. One of the most common symptoms of arthritis is inflammation and stiffness of joints which make mobility extremely difficult. Curcumin market players have capitalized on this statistic and contributed to studies that prove the positive impact curcumin has on osteoarthritis symptoms. Owing to the anti-inflammatory properties of curcumin, the pharmaceutical industry has made increasing use of it in reducing pains associated with arthritis. In a 2010 clinical trial conducted by the National Institute of Biotechnology Information, curcumin-based complex Meriva was observed to have positive impact on managing arthritis by reducing inflammation in the joints. This has served as a major driver for the curcumin market growth.
Curcumin Market Trends and Opportunities
- Use Of Nanotechnology In Enhancement Of Curcumin Therapeutic Properties
Healthcare researchers around the world are focusing on inclusion of curcumin to drugs that could alleviate symptoms of neurodegenerative diseases, especially amyotrophic lateral sclerosis (ALS). According to Johns Hopkins Medicine, approximately 5000 cases of ALS are diagnosed every year in the U.S. It is an extremely harmful disease that impairs a person’s senses and intellectual reasoning. Since there are many studies being conducted on curcumin’s ability to alleviate ALS symptoms, newer research is being done to amplify this ability. In a first, nanoparticles are being used to enhance the therapeutic properties of curcumin which include its ability to break through the blood brain barrier. A lack of natural bioavailability of curcumin restricts its ability to create a positive impact, which is why nanotechnology is being employed to enhance delivery of this compound. This holds multiple opportunities and will help in growth of the curcumin market in upcoming years.
- Curcumin Market Making A Mark In Alleviating Depression
Depression is one of the most common mental disorders known to mankind, and affects approximately 300 million people globally, according to a 2018 study by the World Health Organization (WHO). It is also one of the leading causes of suicides which has made it a public threat. Governments and healthcare institutions around the world are funding research that could benefit depression patients and steadily reduce the number of incidents of this disease. Most of the anti-depressants available these days either fail to induce a positive response in patients or have severe side effects that completely negate the effect of the drugs. These are the primary reasons why curcumin is being actively added to anti-depressants in order to make them relatively safer for the human body. According to a paper published by the National Center for Biotechnology Information, curcumin assists in modulation of enzymes such as serotonin and dopamine, which are responsible for human behavior and mood. Further, evidence shows that curcumin can enhance neurogenesis, thus assisting in the treatment of depression in individuals. These findings will be extremely beneficial to curcumin market growth as they will provide multiple opportunities for key market players to capitalize on.
Curcumin Market: Competitive Landscape and Recent Developments
In the past decade, the curcumin market has grown because of players contributing both in terms of finance and resources to institutions for conducting research on the benefits of curcumin for the human body. Curcumin, which is predominantly found in turmeric and ginger, has been able to extend its usage beyond the food and beverages industry to the pharmaceutical industry as well, owing to this research. These companies include Konark Herbals & Health Care, Arjuna Natural Extracts Ltd., Wacker Chemie AG, Synthite Industries Ltd., BioMax Life Sciences Ltd., Hindustan Mint & Agro Products Pvt. Ltd., SV Agrofood, Star Hi Herbs Pvt. Ltd, Helmigs Prima Sejahtera PT., and Hebei Food Additive Co. Ltd.
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