NEW YORK , July 25, 2024 /PRNewswire/ -- The global saffron market size is estimated to grow by USD 225.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.
09% during the forecast period. Growing use in the pharmaceutical and cosmetics industries is driving market growth, with a trend towards expansion of saffron cultivation. However, high production costs of saffron poses a challenge .
Key market players include Al Hasad Al Fakher Trading Est., AZAFRANES MANCHEGOS SL, Esfedan Saffron Co., Gohar Saffron Co.
, Grandor Co., Green Leaves International, King Kesariya, La Casa de los Aromas S.L.
, Mehr Saffron, Norfolk Saffron, Novin Saffron Co., Organic Spices Inc., Rowhani Saffron Co.
, Rumi Spice , Safrante Specialty Foods S.A., Societa Agricola Baghini Buonacara Srls, The Cheshire Saffron Co.
, The Great American Spice Co., Trond Saffron Qain Co., and USMS Saffron Co.
Inc.. Get a detailed analysis on regions, market segments, customer landscape, and companies - Click for the snapshot of this report Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Formulation (Thread, Powder, and Liquid), End-user (Food, Medical, Cosmetics, and Others), and Geography (APAC, Europe, North America, Middle East and Africa, and South America) Region Covered APAC, Europe, North America, Middle East and Africa, and South America Key companies profiled Al Hasad Al Fakher Trading Est.
, AZAFRANES MANCHEGOS SL, Esfedan Saffron Co., Gohar Saffron Co., Grandor Co.
, Green Leaves International, King Kesariya, La Casa de los Aromas S.L., Mehr Saffron, Norfolk Saffron, Novin Saffron Co.
, Organic Spices Inc., Rowhani Saffron Co., Rumi Spice, Safrante Specialty Foods S.
A., Societa Agricola Baghini Buonacara Srls, The Cheshire Saffron Co., The Great American Spice Co.
, Trond Saffron Qain Co., and USMS Saffron Co. Inc.
Key Market Trends Fueling Growth Saffron production has seen expansion in various regions beyond traditional producers like Iran , Spain , and India . Areas such as Greece , Morocco , Afghanistan , and the US have emerged as new cultivation hubs. This growth in saffron production is essential to meet the escalating global demand for this exotic spice.
Consumers' preference for unique flavors in food and beverages fuels this demand. Diversifying saffron cultivation areas reduces reliance on a few major producers, ensuring a steady supply and preventing price fluctuations. Additionally, it reduces transportation costs, improves product availability, and provides employment opportunities.
Geographical diversification also mitigates risks of crop failure due to natural disasters or unforeseen events. Overall, this trend positively impacts the global saffron market, ensuring a stable and reliable supply to cater to growing consumer demand. Saffron, derived from the Crocus sativus flower, is a valuable spice with significant market trends.
In health, saffron shows potential in addressing Human Papillomavirus and Hepatitis B, inflammatory responses, and arthritis. Prescription drugs and dietary supplements incorporate saffron threads, powder, and liquid forms for treating cardiovascular disabilities. Traditional medicine uses saffron in perfumes, dyes, and for its antioxidant properties.
Online presence and e-commerce platforms drive saffron sales, with QR codes ensuring authenticity. Functional meals, wellness items, and hydroponics/vertical farming are emerging markets. Saffron prices remain high due to labor-intensive production, leading to increased demand for alternative natural flavors.
Cultural significance in various cuisines fuels international trade, with premium quality saffron from Kashmir being highly sought after. The saffron derivative market also includes food colors and aromatherapy. Sustainable farming practices ensure premium quality and combat fake products.
The saffron beer industry and culinary experimentation further expand its application in baked goods, desserts, beverages, sauces, and savory dishes. Discover 360° analysis of this market. For complete information, schedule your consultation- Book Here! Market Challenges For more insights on driver and challenges - Download a Sample Report Segment Overview This saffron market report extensively covers market segmentation by 1.
1 Thread- For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 - 2022) - Download a Sample Report Learn and explore more about Technavio's in-depth research reports The global Food Emulsifiers Market is projected to reach $6.2 billion by 2026, driven by rising demand for processed foods and beverages. Key players like BASF and Dow Chemical are advancing innovations to enhance product stability and texture.
Concurrently, the global Halal Food Market is expected to grow at a CAGR of 6.4% to $2.4 trillion by 2027, fueled by increasing Muslim populations and awareness of Halal certification.
Major contributors include Nestlé and Tyson Foods, addressing the diverse consumer needs across regions. Research Analysis Saffron, derived from the Crocus sativus flower, is a prized spice known for its distinctive aroma and vibrant color. This natural ingredient offers various applications in both medical and cosmetic industries.
Saffron's antioxidant properties help protect against oxidative damage and inflammation, making it beneficial for those suffering from conditions such as asthma, sneezing, and the common cold. Saffron's active compounds, including picrocrocin, safranal, and crocin, contribute to its health benefits. Traditional medicine has long used saffron for its anti-depressant properties, and it's also used as an antiseptic.
In cosmetics, saffron is used as a natural ingredient in perfumes, dyes, and skincare products due to its antioxidant and anti-inflammatory properties. With the rise of e-commerce platforms, it's easier than ever to purchase saffron threads, powder, or liquid form for personal use. Whether for medicinal or cosmetic purposes, saffron's natural vitamins and compounds make it a valuable addition to any routine.
Market Research Overview The Saffron market encompasses the trade of this precious spice, known for its distinct flavor and vibrant color. Saffron derives from the Crocus sativus flower, with its stigmas used for various applications. In the realm of health, saffron boasts several benefits.
Its active compounds, including picrocrocin, safranal, and crocin, exhibit antioxidant properties, protecting against oxidative damage and inflammation. These properties contribute to memory-enhancing and anti-inflammatory effects, making saffron a popular ingredient in Ayurvedic traditions. Saffron's antioxidant properties also extend to cosmetic applications, acting as a UV-absorbing agent and preservative in beauty products.
In the food industry, saffron is used as a flavoring and colorant, with various forms including threads, powder, and liquid. The saffron market encompasses organic and conventional varieties, with different grades like Negin, Sargol, and Grade III. Saffron's authenticity is crucial, with concerns over adulteration and allergens.
Technological advancements, such as image processing technology and electric noses, aid in ensuring product quality and purity. Saffron's market presence is expanding, with online platforms and e-commerce platforms playing a significant role. The saffron market also includes saffron farms, smart built-in systems, and natural ingredients like turmeric, marigold petals, and safflower.
Saffron's health benefits extend to various conditions, including weight loss, mood enhancement, and prescription drugs for asthma, sneeze, cold, measles, hepatitis, and chronic diseases like arthritis and cardiovascular disabilities. Dietary supplements and functional meals also incorporate saffron for its nutritional value and aromas. The saffron market is diverse, with applications in perfumes, dyes, and food preservatives.
Its antioxidant properties make it a valuable ingredient in various industries, contributing to its growing demand and market size. Certification and food safety are essential aspects of the saffron market, ensuring the authenticity and quality of this precious spice. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company.
Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.
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