Market Overview:
Organic Curcumin Market is projected to grow at CAGR of 9.8 % backed up by the growing demand for organic curcumin and increasing varieties of curcumin products. Increasing awareness regarding available health benefits from diseases such as cancer, tumors, arthritis, gastric ailments, and others drive the growth of the market.
The global market for organic curcumin is expected to continue its growth over the forecast period due to rising demand and increasing health awareness as well as health and personal care benefits in recent years. Since organic curcumin market’s growth is directly proportional to the scope of innovation due to highly competitive market, key players are investing in R&D for the innovating product lines. Moreover, leading players are also investing in partnership with various food chains and pharmaceutical companies as the primary focus area to grow the consumer base. Due to the increasing working class population and disposable income, there is a rise in the demand for healthy and organic dietary products as well.
Increasing number of health conscious consumers in developed as well as developing economies is one of the driving forces for this market. Key players are also investing in R&D for development of new product line with improved formulations. Many consumers consume organic curcumin products such as red clover extract, licorice extract, reishi extract, and others. They help in enhancing physiologic effects beneficial for consumers, the demand for these products is increasing.
The major competitors in this market are inclined to increase their footprints across the globe by acquiring local and regional players. Apart from this, the companies are introducing their products in the developing economies to penetrate the untapped market. Major players are also investing in R&D initiatives especially to develop superior & highest quality products by including organic and natural ingredients. This factor is likely to help them to penetrate the emerging global organic curcumin market and fulfill the growing demand. Changing consumer preferences for natural and fresh products will support the sale of organic curcumin in the North American region.
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Major Key Players:
This report includes the study of strategies such as mergers and acquisitions, new product launches by the major organic curcumin market players. It further includes product portfolios, developments of leading major players, which includes
- Yangling Cuijian Bioengineering Technology Co., Ltd. (China)
- Synthite Industries Ltd. (India)
- Herboveda (India)
- Arjuna Natural Extracts Ltd (India)
- Helmigs Prima Sejahtera (Indonesia)
- Biomax Life Sciences Limited (India)
- Curcumex BV (Netherlands)
The global organic curcumin market is highly concentrated in Asia Pacific. Key manufacturers are focusing on expanding their product line by providing various product lines with the various flavors, combinations, and attractive packaging.
Key Findings:
- The market growth in Asia Pacific is high compared to North America and Europe.
- Awareness about healthy food and healthcare products has urged the growth of curcumin market in developing countries.
Market 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 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.
- On the basis of form, the market is segmented into powder, oil, capsules, tablets, creams, and others.
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Regional Analysis:
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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