Global Saffron Market Size, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Saffron Market Overview:

"The Saffron Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

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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, future strategies, acquisitions & mergers, and market footprint. The global saffron market report has been segmented based on form, application, and region.

This report is based on the synthesis, analysis, and interpretation of various sources of information gathered regarding the target market.

Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts 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 on making informed forecasts about the scenarios in the future.

Saffron is a type of spice that comes in the form of vivid colored stigma, derived from the flower of Crocus sativus, also known as the saffron crocus.

It is the most expensive spice commonly used as a coloring agent in food. It tastes sweet and grassy. Saffron is more nutritional than other spices, as it contains vitamin B, manganese, and dietary minerals. Saffron has other medicinal properties and is used to cure various conditions such as asthma, cough, cold, measles, etc.

Increasing demand for saffron in the 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 is also used for the treatment of diseases such as Alzheimer’s, depression, asthma, insomnia, and cancer.

In addition, saffron improves skin conditions and makes them more radiant by treating acne, dullness, and dryness. Increasing the 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 a supply chain may hamper the demand and restrain the growth of the global saffron market over the forecast period.

Additional usage

In addition, the 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 the growing use of saffron in personal care products and perfumes can create lucrative opportunities for players in the global saffron market.

The Asia Pacific accounts for the largest share in terms of revenue and is expected to maintain its position over the forecast period, due to the increasing production of saffron in countries like Iran and India.

In addition, the use of saffron in many traditional recipes and the increasing use of saffron for its medicinal properties are 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 desserts and confectionery products.

Latin America and the Middle East and Africa are at a nascent stage of the global saffron market and are expected to contribute moderate shares to the market over the long run.

Global Saffron Market Segmentation:

By Form:

• Liquid
• Thread
• Powder

By Application:

• Food and Beverage
• Cosmetics
• Medicine
• Textile

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Europe Market