IMARC Group, a leading market research company, has recently released a report titled “Saffron Market Report by Type (Organic, Conventional), Form (Thread, Powder, Liquid), Application (Food, Pharmaceuticals, Cosmetics, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global saffron market share, trends, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global saffron market size reached US$ 518.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,017.8 Million by 2032, exhibiting a growth rate (CAGR) of 7.76% during 2024-2032.
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What is Saffron?
Saffron represents a crimson-colored spice that is extracted from the filaments of the Crocus sativus flower. It is usually collected as well as dried and commonly used as a coloring and flavoring agent in several food products. In line with this, saffron is also utilized for adding fragrances to perfumes and desired color to textile dyes. It is rich in numerous vitamins and dietary minerals. Saffron exhibits antioxidant, anti-depressant, and antiseptic properties. Consequently, saffron finds extensive applications in the treatment of cough, asthma, cold, measles, etc. It is commercially available in the form of liquid, thread, and powder and is widely used in the production of dietary supplements, aromas, food additives, skincare products, etc.
Saffron Market Trends:
The expanding personal care industry and the growing consumer health consciousness are primarily driving the saffron market.
Additionally, the rising prevalence of macular degeneration, cancer, arthritis, cardiovascular disorders, etc., and the easy availability of the spice via online and offline retail channels are further catalyzing the market growth. Besides this, the widespread adoption of saffron in the production of cleansers, lotions, anti-blemish and fairness creams, shampoos, etc., owing to its skin brightening and hair-strengthening properties, is acting as another significant growth-inducing factor.
Moreover, it is also utilized as a key ingredient in food and beverages, which is positively influencing the global market. Apart from this, the inflating popularity of saffron as a natural coloring and flavoring agent is augmenting the market growth. Furthermore, the introduction of organic and chemical-free variants is anticipated to fuel the saffron market over the forecasted period.
Saffron Market Report Segmentation:
By Type:
· Organic
· Conventional
By Form:
· Thread
· Powder
· Liquid
By Application:
· Food
· Pharmaceuticals
· Cosmetics
· Others
Regional Insights:
· North America
· Asia-Pacific
· Europe
· Latin America
· Middle East and Africa
Competitive Landscape with Key Players:
The competitive landscape of the saffron market size 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.
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Key Highlights of the Report:
· Market Performance (2018-2023)
· Market Outlook (2024-2032)
· Market Trends
· Market Drivers and Success Factors
· Impact of COVID-19
· Value Chain Analysis
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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