Saffron Market Future Forecast Analysis Report And Growing Demand 2030

The plant's blossoms are used to make saffron, often referred to as Crocus sativus. To make saffron threads, its three delicate crimson stigmas are hand-picked and dried. Saffron, known for its unique flavour, scent, and vivid colour, is used in food preparation, medicine, and cosmetics for a variety of purposes because of its anti-inflammatory, antioxidant, and other therapeutic qualities. It is widely regarded as one among the priciest and most sought-after spices in the world. The market for saffron has grown steadily and is now worth millions of dollars every year.

Saffron Market Report Scope and Research Methodology

The comprehensive analysis report offers valuable insights into the dynamics, trends, and future prospects of the Saffron industry during the forecast period. It covers key market drivers, challenges, and recent developments, along with demand trends, growth stimulators, spending patterns, and modernization trends across different regions.

The research is based on extensive research and analysis, incorporating inputs from industry experts, government agencies, and market participants, providing a reliable and accurate assessment of the market dynamics and future trends.

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Saffron Market Growth Estimate:

The Saffron Market size was valued at USD 1.12 Billion in 2023 and the total market revenue is expected to grow at a CAGR of 7.3% from 2024 to 2030, reaching nearly USD 1.83 Billion.

Saffron Market Dynamics

Saffron's Demand in the Pharmaceutical and Wellness Industries Is Driven by Medicinal Potentials:

Saffron consumption is driven by rising health consciousness and a desire for natural cures. Its therapeutic qualities, such as its antidepressant and antioxidant effects, support wellness trends and boost the expansion of the saffron business. For example, the potential for saffron to promote well-being and treat mood disorders increases demand for saffron-based medications and nutraceuticals. Saffron's distinct flavour and colour make it a superior ingredient in upscale desserts, drinks, and culinary preparations. The saffron market is growing as a result of its incorporation into cuisines around the world, such as Middle Eastern and Mediterranean meals that contain saffron. Saffron is becoming a more popular natural food colouring ingredient as people look for healthier substitutes for artificial additives. Saffron market growth is driven by its use as a substitute for artificial colourants in food products such as dairy, bread, and savoury dishes.

Saffron Market Segmentation

By Formulation

Liquid
Powder
Stigma
Petals
Stamen

The powder, liquid, and thread segments of the worldwide saffron market are divided based on formulation. Globally, the thread category holds a significant market share in the saffron industry. Throughout the forecast period, there will likely be a rise in the use of saffron powder for applications in the food and beverage sector as well as in the medical field. A value share of 5.6% was predicted for the liquid segment. Over the course of the forecast year, the associated segment's revenue growth may be constrained by the limited supply of liquid saffron. In the saffron market, powder will expand at the fastest rate of compound annual growth (CAGR), trailed by thread and liquid.

by Type

Organic
Conventional

By Grade

Grade I
By Grade II
Grade III
Grade IV

By Application

Food Supplements
Cosmetics
Personal Care Products
Food & Beverage
Others

The food, medical, and cosmetics segments of the saffron market are divided based on application. By 2030, the food segment is anticipated to account for 45% of the volume share due to its increasing use in formulations as a natural food ingredient. Adding saffron to many kinds of food brings out their flavour. Demand for saffron is predicted to rise due to expansion in the food industry in a number of areas. Growth in the business is anticipated to be fueled by the increased demand from the cosmetics industry due to its increasing use in the creation of cleansers, anti-blemish lotions, and fairness creams. For instance, Saffron Body Oil was the first product in CASA KOKOBERNA's new Beautiful Body Collection, which made its debut in 2022 and strengthened skin.

By Distribution Channel

B2B
B2C

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Saffron Market Key Players

North America
1. Great American Spice
2. Mehr Saffron

Europe
3. HEA & Co
4. Golden Saffron Co.
5. Azafran de la Mancha

APAC
6. Royal Saffron
7. kingkesariya
8. Royal Spices International
9. Shahsaffron.
10. Shiva Saffron

Midle East
11. Gohar Saffron
12. Rowhani Saffron Co.
13. Linkage Internationals
14. Iran Saffron Company
15. ajfan store
16. Tarvand Saffron Co.
17. Grandor Co.
18. Novin Saffron Co.
19. saffronir

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Table of content for the Saffron Market includes:

Part 01: Executive Summary

Part 02: Scope of the Saffron Market Report

Part 03: Global Saffron Market Landscape

Part 04: Global Saffron Market Sizing

Part 05: Global Saffron Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

The saffron market is dominated by Asia Pacific, and it is anticipated to expand throughout the forecast period. India is a major participant in the trading, consumption, and cultivation of saffron. India's substantial saffron market growth is attributable to its consumption patterns, use of regional cuisines, and traditional Ayurvedic medicine, even though it is not the principal saffron-producing region internationally. India's renowned Kashmiri saffron makes a substantial contribution to the nation's leadership in this saffron industry. Furthermore, saffron commerce and cultivation have increased in major saffron-producing nations like Afghanistan and Iran, which has accelerated the market's growth trajectory. Sustained saffron market expansion in Asia Pacific is ensured by the increasing knowledge of saffron's culinary applications, medicinal qualities, and integration into numerous sectors.

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