Global Saffron Tablet Market 2019 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2028

Global Saffron Tablet Market Overview:

“The global Saffron Tablet 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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Saffron tablet is made using saffron extracts which have medicinal properties which help in treating various health issues. The dried stigmas of Crocus sativus plant are processed and produced into saffron. Saffron tablet is very expensive due to high cost of saffron production. Saffron tablet contains 150 volatiles and aroma-yielding compounds.

It is a rich source of antioxidants, and health-promoting properties due to presence of the chemical compound. It is beneficial for cough, asthma, and loosen phlegm. Also, it is used for reducing inflammation and treatment of skin disorders, and to prevent several diseases.

Global Saffron Tablet Market: Dynamics

Drivers: Rising demand for saffron tablets due to rising preference for herbal and natural supplements among individuals is among major factors projected to drive the global market growth. Demand for saffron tablets from health-conscious consumers is rising significantly, mainly due to its nutritional characteristics.

Growing demand for saffron tablets owing to its several health benefits and for treatment of diseases such as asthma, cancer, scarlet fever, smallpox, hypoxia, stress, and infections is one of the major factors estimated to drive the global market growth. Growing demand for nutraceuticals from the recent past and high-defensive characteristics of saffron tablets are factors expected to further propel market growth.

Restraints:

However, high cost of saffron tablets, lack of strong supply chain and easy availability of various substitutes such as annatto, safflower, and turmeric with some similar properties and at lower costs are factors that could restrain growth of the global saffron tablet market to some extent. In addition, preference for consumption of direct consumption of saffron in food instead of taking pills is another factor that could challenge market growth.

Global Saffron Tablet Market: Segment Insights

Product Type Insights:

Among the product type segments, the film-coated tablet segment is estimated to account for a significant revenue share in the global market. The increasing demand for film coated tablets by consumers owing to its use for aesthetic purpose and improve the taste of pill is estimated to support growth of the segment.

Application Insights:

Among the application segments, the pharmaceutical application segment is projected to account for major revenue share in the global market. Increasing demand for saffron tablets in pharmacy and the medical field is expected to drive growth of the segment.

Global Saffron Tablet Market: Region Analysis

North America (NA) saffron tablet market is expected to record the largest share in terms of value and is projected to maintain its position over the 10-year forecast period. Increasing usage of saffron tablets for pharmaceutical and nutraceutical grade tablets production in countries such as the US and Canada is projected to boost growth of the NA market.

Asia Pacific (APAC) market is projected to register a significantly higher growth rate in the global saffron tablet market in the next 10 years.

India is among the top 5 producers of saffron, and this coupled with strong presence of key manufacturers in the countries in the region are major factors projected to support growth of saffron tablet market in APAC.

The Europe market is projected to witness moderately higher CAGR in the next 10 years. In the Europe market, Spain is the leading market and is projected to continue contributing highest revenue share in the Europe market for the next 10 years. Latin America and MEA markets are expected to register moderate growth rate over the 10-year forecast period.

Global Saffron Tablet Market Segmentation:

Segmentation by Product Type:        

• Sugar Coated Tablet
• Film Coated Tablet

Segmentation by Application:

• Pharmaceutical
• Nutraceutical

Segmentation by Region:

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