Saffron Market Size, Demand and Industry Report 2023-2028

The global saffron market is expected to exhibit a growth rate (CAGR) of 8% during 2023-2028. Saffron is an aromatic, golden-colored spice derived from the stigmas of the saffron crocus flower. Saffron acts as a natural antioxidant and anti-depressant as it contains crocin, crocetin, safranal, and kaempferol, which aids in the treatment of various medical ailments, including asthma, cough, cold, and measles. On account of these properties, saffron is widely utilized in the manufacturing of pharmaceutical drugs, perfumes, dyes, and various food products.

Market Trends and Drivers:

The market is majorly being driven by rapid expansion in the food and beverage (F&B) industry, wherein it is used as a key coloring and flavoring agent. In line with this, the increasing health consciousness and rising awareness regarding the health benefits of saffron are further catalyzing the market growth. Additionally, the pharmaceutical industry is predominantly utilizing saffron to develop medicines for Alzheimer’s, asthma, depression, insomnia, and cancer, which is acting as a growth-inducing factor. Moreover, saffron possesses dermatological properties, due to which it is widely being used in the cosmetic industry for manufacturing various personal care products. Other factors, including the increasing production of organic and chemical-free saffron and the easy product availability through online and offline retail channels, are creating a positive outlook for the market.

Competitive Landscape With Key Players:

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 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

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.

Related Reports:

Asia Pacific Flat Glass Market Trends, Size and Analysis 2023

Forklift Trucks Market Report, Growth and Opportunity 2023

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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