Global Saffron Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global saffron market in its upcoming report titled, “Global Saffron Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global saffron market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global saffron market report has been segmented on the basis of form, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Saffron is type of spice, that comes in the form of vivid colored stigma, derived from the flower of Crocus sativus also known as saffron crocus. It is the most expensive spice commonly used as coloring agent in food. It tastes sweet and grassy. Saffron is more nutritional as compared to other spices, as it contains vitamin B, manganese, and dietary minerals. Saffron has other medicinal properties and used to cure various conditions such as asthma, cough, cold, and measles, etc.
Increasing demand for saffron in food sector due to rising preference for natural coloring and flavoring agents is a major factor anticipated to drive the growth of the global saffron market. Rising demand for saffron based natural medicines as it has anti-tumor, anti-depressant, antioxidant properties and it also used for the treatment of diseases such as like Alzheimer’s, depression, asthma, insomnia, and cancer. In addition, saffron improves the skin conditions and make it more radiant by treating acne, dullness and dryness. Increasing use of saffron in cosmetics due to its medicinal properties is another factor expected to drive the growth of the global saffron market in the near future.
However, the high cost of saffron and lack of supply chain may hamper the demand and restrain the growth of the global saffron market over the forecast period. In addition, availability of artificially colored counterfeit saffron in the market is also expected to affect the growth of the target market. Nevertheless, the rising awareness regarding the medicinal properties of saffron and growing use of saffron in personal care products and perfumes can create lucrative opportunities for players in the global saffron market.
Asia Pacific accounts for the largest share in terms of revenue and expected to maintain its position over the forecast period, due to increasing production of saffron in countries like Iran and India. In addition, use of saffron in many traditional recipes and increasing use of saffron for its medicinal properties is also expected to boost the growth of the global saffron market in this region. Europe Market is anticipated to register a significant growth rate to the global saffron market over the forecast period due to increased use of saffron in the food industry, especially deserts and confectionery products. The Latin America and Middle East and Africa are at a nascent stage of the global saffron market and expected to contribute moderate shares to the market over the long run.
Global Saffron Market Segmentation:
- Food and Beverage
- North America
- Asia Pacific
- Latin America
- Middle East & Europe Market
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Gohar saffron
- Iran Saffron Company
- Rowhani Saffron Co.
- Saffron Business Co.
- King Kesariya
- Wani Fruit Enterprises
- SAFRANTE GLOBAL COMPANY, S.L.U.
- Shahri Saffron Company
- Taj Agro Products FMCG Company
- Great American Spice Company
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