The global saffron market represents the cultivation, trade, and consumption of one of the world's most valuable spices—saffron. Sourced from the Crocus sativus flower, saffron is known for its distinct flavor, color, and medicinal properties. The market encompasses various saffron-related products, including threads, powder, and extracts, catering to culinary, pharmaceutical, and cosmetic industries. As consumer preferences for natural and premium ingredients persist, the global saffron market continues to evolve, reflecting a delicate balance between tradition and innovation.
Data Bridge Market Research analyzes that the Global Saffron Market is expected to reach a value of USD 742.49 million by 2030, at a CAGR of 6.3%, during the forecast period of 2023-2030.
"Growing demand for saffron in food and beverages industry drive the market growth"
The food and beverages industry is witnessing a surge in demand for saffron threads, recognized for their widespread use as a spice and flavoring agent. Saffron serves as a premium alternative to synthetic additives, offering both flavor enhancement and nutritional benefits. Its natural colorant properties make it a preferred choice over artificial components in diverse cuisines globally. The versatile application of saffron in products such as cake mixes, beverage powders, and semi-ready-to-use concoctions reflects its integral role in the sector. As the food industry expands, the anticipation of substantial growth in saffron demand arises, particularly in the food segment, driven by its valued position as a natural and enhancing ingredient.
What restraints the growth of the global saffron market?
"High cost of saffron hamper the market growth"
The high cost of saffron stems from the labor-intensive harvesting process and the limited yield per plant. With only three stigmata per saffron flower, the need for 75,000 flowers to produce a single pound underscores its scarcity. The meticulous manual harvesting and drying to preserve color and flavor contribute to the elevated expenses. This inherent limitation in production efficiency and the resource-intensive nature of saffron cultivation collectively result in its premium pricing, presenting a significant restraint in the market.
Segmentation: Global Saffron Market
The global saffron market is segmented on the basis of type, grade, category, form, origin, drying method, application, and distribution channel.
- On the basis type, the global saffron market is segmented into sargol saffron, pushal/poshal saffron, negin saffron, super negin saffron, and bunch or dasteh saffron
- On the basis of grade, the global saffron market is segmented into grade I, grade II, grade III, and grade IV
- On the basis of category, the global saffron market is segmented into conventional and organic
- On the basis of form, the global saffron market is segmented into powder, liquid, stigma, and petals
- On the basis of origin, the global saffron market is segmented into India, Iran, Spain, Greece, Morocco, and others
- On the basis of drying method, the global saffron market is segmented into sun drying method, electric oven drying method, vacuum oven drying method, microwave drying method, and others
- On the basis of application, the global saffron market is segmented into food and beverages food supplements, dietary supplements, pharmaceutical, personal care, cosmetic, and others
- On the basis of distribution channel, the global saffron market is segmented into B2B and B2C
Regional Insights: Asia-Pacific dominates the Global Saffron Market
Asia-Pacific dominates the global saffron market, propelled by surging demand from the pharmaceutical and cosmetic industries. The region's market growth is primarily fueled by the expanding applications of saffron in these sectors. Despite the dominance, the high prices of saffron emerge as a substantial constraint to market growth. The pharmaceutical and cosmetic industry's increasing reliance on saffron for various applications underscores its importance, but the prohibitive cost poses challenges, limiting the broader market expansion in Asia-Pacific.
Recent Developments: Global Saffron Market
- In May 2020, the Times of India featured a news piece titled "How adding a pinch of saffron to your food daily can magically improve your health." Recognized for centuries for its therapeutic properties, saffron is highlighted as a spice with potential preventative and healing benefits. Amid the COVID-19 pandemic, saffron is praised for its immune-boosting qualities, emphasizing the growing importance of maintaining good health
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The Prominent Key Players Operating in the Global Saffron Market Include:
- Baby Brand Saffron (India)
- Esfedan Saffron Co. (Iran)
- Rowhani Saffron Co. (Iran)
- Kashmir Kesar Leader (India)
- The Cheshire Saffron Company (U.K.)
- Novin Saffron Company (Iran)
- Norfolk Saffron (U.K.)
- Retaj Agro Farms (Qatar)
- GREEN LEAVES INTERNATIONAL (India)
- Tarvand Saffron Co (Iran)
- MVT Foods (India)
- Società Agricola Baghini Buonacara Srls (Italy)
- SAFRANTE SPECIALTY FOODS S.A. (Greece)
- Cornish Saffron (U.K.)
- Saharkhiz International Group Inc. (Iran)
- English Saffron (U.K.)
- ORGANIC KASHMIR (India)
- Zamindar Kesar (India)
- Roskorwell Farm (U.K.)
- Mane KANCOR (India)
- Saffron Business (India)
- Red Ruby Norway (Norway)
- Eyjann saffron (Iceland)
- Mancha Farms (Spain)
Above are the key players covered in the report, to know about more and exhaustive list of global saffron market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Saffron Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
