Saffron Market in US, Iran, China, Benelux and EU5 Countries to Reach US$ 617.5 Mn by 2026-end

Spanning across the globe as one of the most essential ingredient in the world, saffron continues to gain surplus demand in both, developed and developing economies. Future Market Insights has recently published its report on the saffron market, specifically targeting countries such as the US, China, Iran, Belgium, Netherlands, Luxemburg, Germany, Italy, Spain, France and the UK.

According to the report, more than US$ 360 Mn worth of saffron was consumed across these countries in 2016. The report further projects that saffron market for these targeted countries will grow steadily at 5.3% CAGR, bringing in an estimated US$ 617 Mn by the end of 2026.

Key findings in the report indicate that demand for saffron threads, in particular, is expected to be higher than other forms. In 2016, more than US$ 200 Mn worth of saffron threads were consumed across targeted countries. Demand for powdered saffron, however, is also gaining momentum, and is anticipated to register a value CAGR of 6.6% through 2026.

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http://www.futuremarketinsights.com/reports/saffron-market

The report reveals that retail industry will continue to be the largest end-user of saffron in these countries. More than US$ 160 Mn worth of saffron is projected to be accounted by retail businesses. Nevertheless, the market will notice considerable rise in the end-use of saffron for production of cosmetics, revenues from which will soar at 5.1% CAGR.

Key highlights from the report on saffron market for targeted countries include:

Iran’s saffron market will expand at 5.7% CAGR, and register substantial growth in production of powdered saffron

More than 90 Mn worth of saffron powder will be consumed in the US by the end of 2026

In UK’s saffron market, medical & pharmaceutical industry will record revenue growth at 6% CAGR during forecast period

Demand for saffron will be low in Germany as the country’s market is expected to be valued at just over US$ 4 Mn by 2026-end

The saffron market in France, Spain, China, Luxemburg and Italy will exhibit growth at less than 3% CAGR

Between 2016 and 2026, Netherlands’ saffron market will showcase an incremental opportunity of US$ 2 Mn

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The report also profiles leading manufacturers of saffron partaking in the markets across these targeted countries, namely, Safrante Global Company, SLU, Evolva, Rowhani Saffron Co., Hijos de Eustaquio Abad & Co. SL, Sara Nuts, Tarvand Saffron Co., USMS Saffron Co. Inc., Royal Saffron Company, Saharkhiz International Group Companies, Gohar Saffron, Novin Saffron Co., and Azafranes Machegos SL.

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Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

FMI’s team of over 200 research analysts provides market intelligence at global, regional, and country level. Our analysts are committed to provide independent insights, relying on our cognitive defusion training module, which conditions them to look at data objectively and unbiasedly.

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This release was published on openPR.