Curcumin extract industry, market and usage
For us at Arjuna Natural, Curcumin extract means the world and we stay in touch with the larger picture of the product. These are interesting times for products with a natural base, with the world at large becoming more aware of such products and extracts like turmeric and curcumin. I am sure our patrons and customers like you would also want to know about it too.
Turmeric and Curcumin Usage
Turmeric is a widely used ingredient in food and medical products, especially in Asia where people are aware of its therapeutic qualities. There is greater awareness and acknowledgment of the benefits of such natural products and their ayurvedic medicinal formulations. This has seen a growing demand for these products and we are particularly proud and happy to be able to introduce many products that are drawn from such a traditional knowledgebase.
Curcumin is an active ingredient of turmeric extracted from the Curcuma longa plant.It has anti-inflammatory and antioxidant properties and we now have several food and medical products and supplements with curcumin as the prominent active ingredient that work on these lines. Its use in cosmetic and skin care context is well known with regard to preventing and healing dry skin, treatment of acne and eczema, skin cleansing and smoothening.
It may perhaps surprise you to know that turmeric is also used for dyeing silk, cotton, wool, and fabrics apart from being used as a coloring material in rice milling and leather dyeing. With such a wide use base for the product, we can expect the market to see significant growth in the context of recent research and growing consumer awareness about the different properties and benefits of curcumin.
What will drive market growth?
We have seen a higher level of health consciousness,increased concerns about the presence of artificial ingredients in food, medicines, and cosmetics besides innovations in pharmaceutical & skincare products and increased demand for ayurvedic, natural and organic supplements among people. We expect these factors to drive the growth of the curcumin market, given its multiple health benefits. Specifically, the anti-cancer, anti-inflammatory, and anti-oxidation properties of curcumin are expected to contribute to the market growth.
Based on business and technical enquiries and what I have seen in the market, we can expect to see newer applications in the textile and cosmetic market. Curcumin will also find use in newer products for skin care applications, treatment of viral infections, gastric ailments, arthritis, Alzheimer’s, and tumors, prevention from ringworm, leech bites, eye infections, skin sores and relief from pain, sprains, and swellings, bruising, and gum diseases. Undoubtedly this will enhance industry growth in the next few years.
Which markets will see growth?
In value terms the global curcumin market was estimated at US$52.45 Million in 2017, and is expected to reach US$104.19 Million by 2025, growing at an annual compounded rate of 8.9% from 2018 to 2025. We, at Arjuna Natural Pvt Ltd, are ideally placed to benefit from this market growth and believe we have an important role to play.
Among regional markets, North America was the largest one, with more than 17% of the market share, with growing demand for processed food products and curcumin-based health supplements being the key factors that would drive demand in this region. We expect Europe to be the fastest growing region, at a CAGR of 14.8% over the forecast period, in value terms. Here, apart from growing demand, we believe the regulatory support from the European Food Safety Association (EFSA) would drive market growth. Arjuna’s customer base in over 50 countries such as UK, Netherlands, South Africa, Australia, Poland, Finland and Jamaica among others will help the company strengthen its position in the market.
The Supply Side and Market notes
India contributes more than 80% of the global production, supported by the presence of large scale turmeric cultivations. Our position as a leading Indian provider of curcumin is therefore a matter of great pride and we seek to enhance it with continuous research in proactive curcumin research.
Our BCM-95® (Curcugreen®) formulation of curcumin has expanded its stronghold in more than 20 countries across Western and Eastern Europe besides being a leading brand in the United States. The optimum bio-availability and absorption in BCM-95 and 49 patents for composition and manufacturing processes of curcumin extract is a measure of its highest quality and reason for its success.Arjuna’sUS patents related to the use of turmeric extract for treatment of Alzheimer's disease and for the treatment of depression gives it a definite edge in the marketwhere the company has its main customer base. Its patent for "composition for use in treatment" by the European Patent Office (EPO) and 16 patents (13 in the US, two in Japan and one in Europe), on its BCM-95 turmeric extracts outline the company’s innovation and research initiatives.
I believe the availability of supplements, including curcumin, over the counter adds to the market potential. However what surprises us is the comparatively low consumer awareness of curcumin as a healthy ingredient in India.Perhaps this leads to large quantities of it being exported to North America and Europe. Another matter of concern is the presence of cheaper synthetic food colorants and formulation challenges in curcumin-based products. This does affect the growth of the market but the presence of curcumin in ayurvedic as well as herbal nutritional supplements and skincare products is only going to increase the popularity and demand for curcumin in the coming years. Healthy times for this health supplement!!