The global curcumin market size is expected to reach USD 160.62 million by 2030, according to a new study by Polaris Market Research. The report “Curcumin Market Share, Size, Trends, Industry Analysis Report, By Nature (Organic, Conventional); By Application (Pharmaceutical, Food & Beverages, Cosmetics, Others; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides an analysis on future market growth.
Curcumin is a hydrophobic and lipophilic compound, and the pharmaceutical industry uses it primarily for its traditional medicinal use. Diverse studies are also being conducted to determine the best ways to administer curcumin for the treatment of cancer and a variety of neurological illnesses using various nanoparticles, including dendrimers, polymeric nanoparticles, and nanogels.
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It has been demonstrated to offer major health advantages and the ability to prevent several diseases, such as Alzheimer's, coronary heart disease, and cancer. Furthermore, the rising prevalence of chronic diseases has increased the demand for curcumin which is driving the market growth. For instance, as per the Alzheimers Association, more than 6 million Americans have Alzheimer's disease. This figure is anticipated to increase to around 13 million by 2050.
Deaths from Alzheimer's and dementia increased by 17% in 2020 as a result of COVID-19. Alzheimer's disease and other dementias will cost the country $321 billion in 2022. These expenses may top $1 trillion by 2050. Further, according to the Centers for Disease Control and Prevention (CDC), the most prevalent kind of heart disease, coronary heart disease, has around 382,820 lives in 2020.
In adults 20 and older, CAD affects roughly 20.1 million people (about 7.2 percent ). In 2020, people under 65 will account for nearly 2 in 10 deaths from CAD. Also, as per the WHO, roughly 10 million deaths were caused by cancer in 2020. Thus, the rising disease prevalence of diseases has increased the demand for the industry for treatment is the factor that is boosting the market growth over the forecast period.
Demand for the product will rise around the world as customers become more aware of its medical properties and health advantages. Product demand will also be boosted by changes in consumer patterns and growing knowledge of the advantages of employing organic and natural components in food, cosmetics, and medical applications. It has beneficial anti-oxidation and anti-inflammatory qualities, making it a top pain treatment option for people with osteoarthritis and rheumatoid arthritis.
Curcumin Market Report Highlights
Polaris Market Research has segmented the curcumin market report based on nature, application, and region:
Curcumin, Nature Outlook (Revenue - USD Million, 2018 - 2030)
Curcumin, Application Outlook (Revenue - USD Million, 2018 - 2030)
Curcumin, Regional Outlook (Revenue - USD Million, 2018 - 2030)