What is Saffron Market?
Rising Demand and use in food applications as a flavoring and coloring agent will help to boost global saffron market in the forecasted period. Saffron is the world's most expensive spice. Growing demand from end user like food, cosmetic and medical due to its benefits that protect humans from stress, infections, cancers, and also act as immune modulators drive the saffron demand across the world. In addition it has many therapeutic applications which has augmented its demand in the pharmaceutical industry. These properties of saffron are expected to drive market growth over the forecast period.
Highlights from Saffron Market Study
|High Growth Market||Asia Pacific|
|Unit||Value (USD Million)|
|Key Companies Profiled||Novin Saffron Factory (Iran), Shahri Saffron (Iran), Gohar saffron (Iran), Rowhani Saffron Co. (Iran), Tarvans Saffron Co. (Iran), Azafranes Manchegos, S.L (Spain), Krokos-Kozani (Greece), Shanghai Pharmaceuticals Holding Co. (China), Saffron Business Co. (Iran) and Grandor Lumber Inc. (Canada)|
The Players having a strong hold in the market are Novin Saffron Factory, Shahri Saffron, Gohar saffron, Rowhani Saffron and Tarvans Saffron. Research Analyst at AMA predicts that Middle Eastern Players will contribute to the maximum growth of Global Saffron market throughout the forecasted period. Novin Saffron Factory (Iran), Shahri Saffron (Iran), Gohar saffron (Iran), Rowhani Saffron Co. (Iran), Tarvans Saffron Co. (Iran), Azafranes Manchegos, S.L (Spain), Krokos-Kozani (Greece), Shanghai Pharmaceuticals Holding Co. (China), Saffron Business Co. (Iran) and Grandor Lumber Inc. (Canada) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Advance HE (United Kingdom), King Kesariya (India), Wani Fruit Enterprises (India), Safrante Global Company, S.L.U. (Spain), Taj Agro Products (India) and Great American Spice Company (United States).
Saffron Market Segmentation:
According to AMA, the Global Saffron market is expected to see steady growth rate and may see market size of USD507.16 Million by 2026.
|Application / End User||Food, Medical and Cosmetics|
|Type||Thread Form, Powder Form and Liquid Form|
|End Use Industry||Retail,Food Service (Restaurants, Hotels etc),Medical & Pharmaceuticals,Nutritional Supplements,Cosmetics|
On the basis of geography, the market of Saffron has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2020. Middle East, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Upsurging Research and Developments in Introducing Saffron to Pharmaceutical Industry and Technological Advancements in Saffron Manufacturing
Market Growth Drivers:
Increasing Demand for the Treatments of Asthma, Cough, Whooping Cough and Others and Medicinal Advantages Against Sleep Problems (Insomnia), Cancer and Many Others
Stringent Government Regulations on Use of Food Industry in Saffron and Negative Impacts of External Factors such as Climate, Drought which might Affect the Crop Yield
Geographically Dispersed Volatile Supply and Productivity and Comparatively Higher Prices Due to Lack of Availability
Rising Adoption of Saffron in the Food Sector from Various Regions and Upsurging Demand from the Cosmetics Sector on Account of its Growing Use
Key Target Audience
Saffron Manufacturers, Saffron Distributors and Suppliers, Saffron International Traders, Spices Manufacturing Industry Associations, Research and Development Institutes, Agricultural Regulators, Government Agencies and Others