IMARC Group has recently released a new research study titled “Saffron Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the global saffron market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. The market size reached US$ 479 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 765 Million by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.
Saffron is a highly prized spice that is derived from the stigma of the crocus flower, scientifically known as Crocus sativus. It is known for its distinctive flavor, aroma, and vibrant red-orange color. Saffron is one of the most expensive spices in the world due to the labor-intensive harvesting process. Saffron is used in a variety of cuisines, including Indian, Persian, and Mediterranean, and is also used in traditional medicine due to its antioxidant, anti-inflammatory, and mood-enhancing properties.
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Saffron Market Trends and Drivers:
The increasing demand for saffron in medical applications with antibacterial and anti-inflammatory properties represents a key factor driving the market growth across the globe. In addition to this, the expanding cosmetics industry, along with the rising demand for natural and organic beauty products and increasing awareness regarding the benefits of saffron for the skin are contributing to the market growth. In line with this, the market is also driven by the increasing demand in the food and beverage (F&B) industry, especially in the production of luxury food products. Other factors, such as the increasing disposable income, especially that of middle-class consumers in the emerging economies, the easy product availability at proliferating e-commerce channels, are creating a positive outlook for the market across the globe.
Competitive Landscape:
The competitive landscape of the saffron market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Esfedan Trading
Flora Saffron
Gohar Saffron
Grandorco
Great American Spice Company
HEA&CO
Mehr Saffron Company
Rowhani Saffron Co.
Safrante Global Company S.L.U.
Taj Agro International
Tarvand Saffron Co.
Key Market Segmentation:
The report has segmented the global saffron market based on type, form, application and region.
Breakup by Type:
Organic
Conventional
Breakup by Form:
Thread
Powder
Liquid
Breakup by Application:
Food
Pharmaceuticals
Cosmetics
Others
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
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Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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