The global demand for Saffron Market is presumed to reach the market size of nearly USD 1259.98 MN by 2030 from USD 522.91 MN in 2022 with a CAGR of 11.62% under the study period of 2023 - 2030. Regarding volume, the market was calculated XX Tons in 2022 and forecast to touch XX Tons by 2030 with a CAGR of XX% during 2023-2030.
Saffron is a spice made from the bloom of the Crocus sativus plant, also known as the ""saffron crocus."" The vibrant crimson stigma and styles, known as threads, are collected and dried for use in food, mainly as a spice and colouring agent. Saffron has long been the most expensive spice in the world in terms of weight. The phytochemicals picrocrocin and safranal are responsible for saffron's flavour and iodoform-like or hay-like aroma. It also includes crocin, a carotenoid pigment that gives foods and textiles a bright golden-yellow tint. In the cosmetics sector, saffron is utilized as a natural UV-absorbing ingredient.
Market Dynamics
The expanding food sector, rising living standards, and rising consumer disposable income are expected to drive demand for saffron goods in the following years. Increasing adoption of saffron in medicinal and cosmetic applications is likely to drive the market. Saffron is high in antioxidants and has a variety of health advantages. Picrocrocin, safranal, and crocin are the primary active chemicals found in saffron. These chemicals aid in the reduction of oxidative stress and inflammation in the human brain. Furthermore, saffron is recognized for its memory-enhancing, antioxidant, and anti-inflammatory qualities, expected to drive market expansion. The industry is expected to rise as consumers become more aware of the health advantages of saffron. Because saffron is an expensive substance, fraudulent activities of selling contaminated products are expected every day. These behaviours are pretty likely to stifle market expansion.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of saffron. The growth and trends of Saffron Industry provide a holistic approach to this study.
Market Segmentation
This section of the saffron market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Grade
- Grade I
- Grade Ii
- Grade Iii
- Grade Iv
By Application
- Food
- Medical
- Cosmetics
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Saffron market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Saffron Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the saffron market include Esfedan Trading Company, Safran Global Company S.L.U., Tarvand Saffron Co., Saffron Business Company, Gohar Saffron, Rowhani Saffron Co., Mehr Saffron, Flora Saffron, Royal Saffron Company, Iran Saffron company. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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