Capsaicin Market Size

Capsaicin Market size was over USD 8.43 Million in 2023 and is set to exceed USD 16.71 Million by the end of 2036, witnessing over 5.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of capsaicin is evaluated at USD 8.84 Million. The global market is expected to grow during the forecast period owing to increasing demand for capsaicin in the food and beverage industry as a flavoring and coloring agent. Capsaicin is also used in the pharmaceutical and cosmetic industries, where it is highly valued for its analgesic, pain relieving, and anti-inflammatory properties. Many studies have demonstrated the effectiveness of capsaicin in relieving pain from conditions such as postherpetic neuralgia, diabetic neuropathy, and osteoarthritis. A double-blind, placebo-controlled study found that capsaicin cream significantly reduced pain intensity in patients with chronic neuropathic pain compared to placebo. Furthermore, capsaicin is also used to treat certain skin conditions such as psoriasis and itching. A systematic review published found that topical capsaicin was effective in reducing itching in patients with a variety of skin conditions, including atopic dermatitis, psoriasis, and urticaria.

Additionally, as capsaicin is derived from natural sources, it is also anticipated that the market would expand owing to the rising popularity of natural and organic products. In addition, growing awareness of capsaicin's health benefits such as pain relief and weight loss is boosting the market growth. Capsaicin has been found to increase metabolic rate and reduce appetite, which helps with weight loss. A study published in the American Journal of Clinical Nutrition found that capsaicin consumption increased energy expenditure and fat oxidation got it. The market is anticipated to grow on account of all these factors in the forecast period.