Global Saffron Market: Industry Analysis and Forecast (2021-2027) by Formulation and End-Use.

Global Saffron Market size was valued at US$ 946.06 Mn. in 2020 and the total revenue is expected to grow at 7.3 % CAGR through 2021 to 2027, reaching nearly US$ 1549.24 Mn.

Global Saffron Market Overview:

In 2020, the government of Jammu and Kashmir stated that its Kashmiri Saffron had been granted a GI (geographical indication) tag and it is preparing to introduce the spice in the UAE market. This move establishes J&K as a global brand. Saffron is one of the most expensive spices and it is used in a variety of dishes, beverages, and medicines. Herbal medicine, fragrance, textile coloring, and cookery spices are now driving demand. Owing to its use as an anti-depressant, antioxidant, and antibacterial, medicinal application is anticipated to remain a prominent emphasis area for market vendors. Global Saffron Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the Market from 2021 to 2027. 2020’s Market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years trends are considered while forecasting the Market through 2027. 2020 is a year of exception and analyzed specially with the impact of lockdown by region.

Global Saffron Market Dynamics:

One of the primary reason contributing to the market's significant growth is the cosmetics industry around the world. Owing to its skin brightening and hair-strengthening characteristics, saffron is commonly utilized in the creation of numerous personal care products such as lotions, cleansers, fairness creams, and shampoos. Moreover, the widespread use of the product as a vital ingredient in a variety of foods and beverages is propelling the market forward. Saffron is becoming more popular as a natural coloring and flavoring agent as people become more health concerned. Saffron consumption for the treatment of mental diseases like depression and anxiety has boosted the market growth. Saffron is also recommended by medical professionals for the treatment or management of Alzheimer's disease. Saffron use in the treatment of geriatric disorders is a strong driver of market demand. A recent study conducted by the Center of Investigation in Clinical Nutrition in Belgium between 2019 and 2020 found that 6 weeks of saffron supplementation resulted in improved sleep duration and quality in 66 volunteers. The study also raised the possibility that Saffron might become a natural and safe alternative to sleeping medications over a longer period of time. In recent years, saffron consumption in the United States has increased significantly. After trade restrictions were lifted, Iran began exporting Iranian saffron to the United States, improving bilateral trade relations. Growing demand for saffron in a number of food products, as well as advancements in the medical field, are propelling the region's industry forward. Saffron consumption in the United States is likely to increase due to a growing preference for natural products over artificial colorings and flavorings.

Global Saffron Market Segment Analysis:

Based on formulation, Global Saffron Market is segmented into Powder, Liquid and Thread. The thread segment dominate the market with a major share of 58% globally. Increasing usage of the powder form of saffron for application in the food & beverages industry and in medical applications is expected to grow during the forecast period. A liquid segment was projected to account for a value share of 5.6%. Low availability of saffron in liquid form may restrain revenue growth of the related segment over the forecast period. The powder segment will grow at the highest CAGR of xx% followed by thread and liquid. Global Saffron MarketBased on application, based on the application the Saffron market is segmented into Food, Medical, and Cosmetics. The food segment is expected to hold a volume share of 45% by 2027, owing to growing formulation use as a natural food ingredient. Saffron addition to various food types enhances the essence. Expansion of the food sector in various regions is expected to fuel saffron demand. The increasing need from the cosmetics industry on account of its growing use in the production of fairness creams, anti-blemish lotions and cleansers are expected to fuel industry growth. For example, CASA KOKOBERNA debuted its new Beautiful Body Collection in 2020, with Saffron Body Oil is its first product for skin strengthening. The medical segment is foreseen to gain substantial growth on account of its use as an antioxidant, antiseptic, anti-depressant, and anti-convulsing formulation. Saffron contains anti-depressant components such as crocin and safranal, which are thought to help with nervous system disorders.

Global Saffron Market Regional Insights:

Asia Pacific held the biggest market share in terms of volume in 2020 and is expected to grow at a CAGR of 6.9% from 2020 to 2027, owing to rising exports and domestic demand for natural ingredients. India is one of the world's top producers of saffron owing to the abundance of raw materials, suitable cultivation territory, and pharmaceuticals industry. China, the world's second-largest economy, is expected to reach a projected market size of US$250.2 million by 2027, representing an 8.2 % CAGR from 2020 to 2027. Iran is the largest country in terms of production, accounting for more than 80% of global output. However, due to a higher percentage of re-exports from France, Italy, and Spain, exports are lower than production. The saffron market in Afghanistan is expected to increase in the forecast period, affecting market dynamics. Spain, Italy, India, Greece, Morocco and Azerbaijan are among the other major producers. Saffron Tech, an Israeli company that produces saffron, developed a new technique for automated, year-round saffron growing in early 2021. According to reports, the technology was posing a threat to Iran's saffron monopoly over the world. Several industry players operating in the global saffron business space, such as JMD Agro Foods, Taj Agro Products (Taj Agro International), Good Life Global, Saffron Tech, Royal Saffron, are implementing strategies to gain a competitive advantage over the competition and secure a prominent position in the overall industry. Affron, a product of Pharmactive Biotech Products, was recently granted a US patent for its critical role in improving mental health. Safranal and crocins are found in significant concentrations in affron. The objective of the report is to present a comprehensive analysis of the Global Saffron Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Global Saffron Market dynamics, structure by analyzing the Market segments and project the Global Saffron Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Global Saffron Market make the report investor’s guide.

Global Saffron Market Scope: Inquire before buying

Global Saffron Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 946.06 Mn.
Forecast Period 2021 to 2027 CAGR: 7.3% Market Size in 2027: US $ 1549.24 Mn.
Segments Covered: by Formulation • Powder • Liquid • Thread
by End Use • Food • Medical • Cosmetics

Global Saffron Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Saffron Market Key Players

• Gohar Saffron • Rowhani Saffron Co. • Iran Saffron Company • Saffron Business Co. • Royal Saffron • Damon Enterprises • Grandor • Golden Pars Maha • Shahri Food Products • Linkage Internationals • Esfahan Pishro • Mehr Azin Bonab • Gohar Nab Sara • Great American Spice • HEA & Co Spanish • Rah Abrisham Sialk International • Taj Agro Products, • King Kesariya • Damon Enterprises • Good Life Global • Rowhani • Jmd Agro Foods

Frequently Asked Questions:

1] What segments are covered in Global Saffron Market report? Ans. The segments covered in Global Saffron Market report are based on formulation and application. 2] Which region is expected to hold the highest share in the Global Saffron Market? Ans. Asia Pacific is expected to hold the highest share in the Global Saffron Market. 3] What is the Market size of Global Saffron Market in the forecast period 2021-2027? Ans. The Market size of Global Saffron Market in the forecast period 2021-2027 is US $ 1549.24 Mn. 4] Who are the top key players in the Global Saffron Market? Ans. Gohar Saffron, Rowhani Saffron Co., Iran Saffron Company, Saffron Business Co., Royal Saffron, Damon Enterprises, Grandor, Golden Pars Maha, Shahri Food Products, Linkage Internationals, Esfahan Pishro, Mehr Azin Bonab, Gohar Nab Sara, Great American Spice, HEA & Co Spanish, Rah Abrisham Sialk International, Taj Agro Products, King Kesariya, Damon Enterprises, Good Life Global, Rowhani, Jmd Agro Foods 5] What was the Market size of Global Saffron Market in 2020? Ans. The Market size of Global Saffron Market in 2020 was US $ 946.06 Mn.

Global Saffron Market

1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights 1.3. Research Objectives 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Saffron Size, by Market Value (US$ Mn) and Market Volume (Units) 4. Market Overview 4.1. Introduction 4.2. Market Indicator 4.2.1. Drivers 4.2.2. Restraints 4.2.3. Opportunities 4.2.4. Challenges 4.3. Porter’s Analysis 4.4. Value Chain Analysis 4.5. Market Risk Analysis 4.6. SWOT Analysis 4.7. Industry Trends and Emerging Technologies 4.8. Patent Registration 5. Supply Side and Demand Side Indicators 6. Global Saffron Market Analysis and Forecast 6.1. Global Saffron Market Size & Y-o-Y Growth Analysis 6.1.1. North America 6.1.2. Europe 6.1.3. Asia Pacific 6.1.4. Middle East & Africa 6.1.5. South America 7. Global Saffron Market Analysis and Forecast, by Formulation 7.1. Introduction and Definition 7.2. Key Findings 7.3. Global Saffron Market Value Share Analysis, by Formulation 7.4. Global Saffron Market Size (US$ Mn) Forecast, by Formulation 7.5. Global Saffron Market Analysis, by Formulation 7.6. Global Saffron Market Attractiveness Analysis, by Formulation 8. Global Saffron Market Analysis and Forecast, by End Use 8.1. Introduction and Definition 8.2. Key Findings 8.3. Global Saffron Market Value Share Analysis, by End Use 8.4. Global Saffron Market Size (US$ Mn) Forecast, by End Use 8.5. Global Saffron Market Analysis, by End Use 8.6. Global Saffron Market Attractiveness Analysis, by End Use 9. Global Saffron Market Analysis, by Region 9.1. Global Saffron Market Value Share Analysis, by Region 9.2. Global Saffron Market Size (US$ Mn) Forecast, by Region 9.3. Global Saffron Market Attractiveness Analysis, by Region 10. North America Saffron Market Analysis 10.1. Key Findings 10.2. North America Saffron Market Overview 10.3. North America Saffron Market Value Share Analysis, by Formulation 10.4. North America Saffron Market Forecast, by Formulation 10.4.1. Powder 10.4.2. Liquid 10.4.3. Thread 10.5. North America Saffron Market Value Share Analysis, by End Use 10.6. North America Saffron Market Forecast, by End Use 10.6.1. Food 10.6.2. Medical 10.6.3. Cosmetics 10.7. North America Saffron Market Value Share Analysis, by Country 10.8. North America Saffron Market Forecast, by Country 10.8.1. U.S. 10.8.2. Canada 10.9. North America Saffron Market Analysis, by Country 10.10. U.S. Saffron Market Forecast, by Formulation 10.10.1. Powder 10.10.2. Liquid 10.10.3. Thread 10.11. U.S. Saffron Market Forecast, by End Use 10.11.1. Food 10.11.2. Medical 10.11.3. Cosmetics 10.12. Canada Saffron Market Forecast, by Formulation 10.12.1. Powder 10.12.2. Liquid 10.12.3. Thread 10.13. Canada Saffron Market Forecast, by End Use 10.13.1. Food 10.13.2. Medical 10.13.3. Cosmetics 10.14. North America Saffron Market Attractiveness Analysis 10.14.1. By Formulation 10.14.2. By End Use 10.15. PEST Analysis 10.16. Key Trends 10.17. Key Development 11. Europe Saffron Market Analysis 11.1. Key Findings 11.2. Europe Saffron Market Overview 11.3. Europe Saffron Market Value Share Analysis, by Formulation 11.4. Europe Saffron Market Forecast, by Formulation 11.4.1. Powder 11.4.2. Liquid 11.4.3. Thread 11.5. Europe Saffron Market Value Share Analysis, by End Use 11.6. Europe Saffron Market Forecast, by End Use 11.6.1. Food 11.6.2. Medical 11.6.3. Cosmetics 11.6.4. Europe Saffron Market Value Share Analysis, by Country 11.7. Europe Saffron Market Forecast, by Country 11.7.1. Germany 11.7.2. U.K. 11.7.3. France 11.7.4. Italy 11.7.5. Spain 11.7.6. Rest of Europe 11.8. Europe Saffron Market Analysis, by Country 11.9. Germany Saffron Market Forecast, by Formulation 11.9.1. Powder 11.9.2. Liquid 11.9.3. Thread 11.10. Germany Saffron Market Forecast, by End Use 11.10.1. Food 11.10.2. Medical 11.10.3. Cosmetics 11.11. U.K. Saffron Market Forecast, by Formulation 11.11.1. Powder 11.11.2. Liquid 11.11.3. Thread 11.12. U.K. Saffron Market Forecast, by End Use 11.12.1. Food 11.12.2. Medical 11.12.3. Cosmetics 11.13. France Saffron Market Forecast, by Formulation 11.13.1. Powder 11.13.2. Liquid 11.13.3. Thread 11.14. France Saffron Market Forecast, by End Use 11.14.1. Food 11.14.2. Medical 11.14.3. Cosmetics 11.15. Italy Saffron Market Forecast, by Formulation 11.15.1. Powder 11.15.2. Liquid 11.15.3. Thread 11.16. Italy Saffron Market Forecast, by End Use 11.16.1. Food 11.16.2. Medical 11.16.3. Cosmetics 11.17. Spain Saffron Market Forecast, by Formulation 11.17.1. Powder 11.17.2. Liquid 11.17.3. Thread 11.18. Spain Saffron Market Forecast, by End Use 11.18.1. Food 11.18.2. Medical 11.18.3. Cosmetics 11.19. Rest of Europe Saffron Market Forecast, by Formulation 11.19.1. Powder 11.19.2. Liquid 11.19.3. Thread 11.20. Rest of Europe Saffron Market Forecast, by End Use 11.20.1. Food 11.20.2. Medical 11.20.3. Cosmetics 11.21. Europe Saffron Market Attractiveness Analysis 11.21.1. By Formulation 11.21.2. By End Use 11.22. PEST Analysis 11.23. Key Trend 11.24. Key Development 12. Asia Pacific Saffron Market Analysis 12.1. Key Findings 12.2. Asia Pacific Saffron Market Overview 12.3. Asia Pacific Saffron Market Value Share Analysis, by Formulation 12.4. Asia Pacific Saffron Market Forecast, by Formulation 12.4.1. Powder 12.4.2. Liquid 12.4.3. Thread 12.5. Asia Pacific Saffron Market Value Share Analysis, by End Use 12.6. Asia Pacific Saffron Market Forecast, by End Use 12.6.1. Food 12.6.2. Medical 12.6.3. Cosmetics 12.7. Asia Pacific Saffron Market Value Share Analysis, by Country 12.8. Asia Pacific Saffron Market Forecast, by Country 12.8.1. China 12.8.2. India 12.8.3. Japan 12.8.4. ASEAN 12.8.5. Rest of Asia Pacific 12.9. Asia Pacific Saffron Market Analysis, by Country 12.10. China Saffron Market Forecast, by Formulation 12.10.1. Powder 12.10.2. Liquid 12.10.3. Thread 12.11. China Saffron Market Forecast, by End Use 12.11.1. Food 12.11.2. Medical 12.11.3. Cosmetics 12.12. India Saffron Market Forecast, by Formulation 12.12.1. Powder 12.12.2. Liquid 12.12.3. Thread 12.13. India Saffron Market Forecast, by End Use 12.13.1. Food 12.13.2. Medical 12.13.3. Cosmetics 12.14. Japan Saffron Market Forecast, by Formulation 12.14.1. Powder 12.14.2. Liquid 12.14.3. Thread 12.15. Japan Saffron Market Forecast, by End Use 12.15.1. Food 12.15.2. Medical 12.15.3. Cosmetics 12.16. ASEAN Saffron Market Forecast, by Formulation 12.16.1. Powder 12.16.2. Liquid 12.16.3. Thread 12.17. ASEAN Saffron Market Forecast, by End Use 12.17.1. Food 12.17.2. Medical 12.17.3. Cosmetics 12.18. Rest of Asia Pacific Saffron Market Forecast, by Formulation 12.18.1. Powder 12.18.2. Liquid 12.18.3. Thread 12.19. Rest of Asia Pacific Saffron Market Forecast, by End Use 12.19.1. Food 12.19.2. Medical 12.19.3. Cosmetics 12.20. Asia Pacific Saffron Market Attractiveness Analysis 12.20.1. By Formulation 12.20.2. By End Use 12.21. PEST Analysis 12.22. Key Trend 12.23. Key Development 13. Middle East & Africa Saffron Market Analysis 13.1. Key Findings 13.2. Middle East & Africa Saffron Market Overview 13.3. Middle East & Africa Saffron Market Value Share Analysis, by Formulation 13.4. Middle East & Africa Saffron Market Forecast, by Formulation 13.4.1. Powder 13.4.2. Liquid 13.4.3. Thread 13.5. Middle East & Africa Saffron Market Value Share Analysis, by End Use 13.6. Middle East & Africa Saffron Market Forecast, by End Use 13.6.1. Food 13.6.2. Medical 13.6.3. Cosmetics 13.7. Middle East & Africa Saffron Market Value Share Analysis, by Country 13.8. Middle East & Africa Saffron Market Forecast, by Country 13.8.1. GCC 13.8.2. South Africa 13.8.3. Rest of Middle East & Africa 13.9. Middle East & Africa Saffron Market Analysis, by Country 13.10. GCC Saffron Market Forecast, by Formulation 13.10.1. Powder 13.10.2. Liquid 13.10.3. Thread 13.11. GCC Saffron Market Forecast, by End Use 13.11.1. Food 13.11.2. Medical 13.11.3. Cosmetics 13.12. South Africa Saffron Market Forecast, by Formulation 13.12.1. Powder 13.12.2. Liquid 13.12.3. Thread 13.13. South Africa Saffron Market Forecast, by End Use 13.13.1. Food 13.13.2. Medical 13.13.3. Cosmetics 13.14. Rest of Middle East & Africa Saffron Market Forecast, by Formulation 13.14.1. Powder 13.14.2. Liquid 13.14.3. Thread 13.15. Rest of Middle East & Africa Saffron Market Forecast, by End Use 13.15.1. Food 13.15.2. Medical 13.15.3. Cosmetics 13.16. Middle East & Africa Saffron Market Attractiveness Analysis 13.16.1. By Formulation 13.16.2. By End Use 13.17. PEST Analysis 13.18. Key Trend 13.19. Key Development 14. South America Saffron Market Analysis 14.1. Key Findings 14.2. South America Saffron Market Overview 14.3. South America Saffron Market Value Share Analysis, by Formulation 14.4. South America Saffron Market Forecast, by Formulation 14.4.1. Powder 14.4.2. Liquid 14.4.3. Thread 14.5. South America Saffron Market Value Share Analysis, by End Use 14.6. South America Saffron Market Forecast, by End Use 14.6.1. Food 14.6.2. Medical 14.6.3. Cosmetics 14.7. South America Saffron Market Value Share Analysis, by Country 14.8. South America Saffron Market Forecast, by Country 14.8.1. Brazil 14.8.2. Mexico 14.8.3. Rest of South America 14.9. Brazil Saffron Market Forecast, by Formulation 14.9.1. Powder 14.9.2. Liquid 14.9.3. Thread 14.10. Brazil Saffron Market Forecast, by End Use 14.10.1. Food 14.10.2. Medical 14.10.3. Cosmetics 14.11. Mexico Saffron Market Forecast, by Formulation 14.11.1. Powder 14.11.2. Liquid 14.11.3. Thread 14.12. Mexico Saffron Market Forecast, by End Use 14.12.1. Food 14.12.2. Medical 14.12.3. Cosmetics 14.13. Rest of South America Saffron Market Forecast, by Formulation 14.13.1. Powder 14.13.2. Liquid 14.13.3. Thread 14.14. Rest of South America Saffron Market Forecast, by End Use 14.14.1. Food 14.14.2. Medical 14.14.3. Cosmetics 14.15. South America Saffron Market Attractiveness Analysis 14.15.1. By Formulation 14.15.2. By End Use 14.16. PEST Analysis 14.17. Key Trend 14.18. Key Development 15. Company Profiles 15.1. Market Share Analysis, by Company 15.2. Competition Matrix 15.2.1. Competitive Benchmarking of key players by price, presence, market share, Applications and R&D investment 15.2.2. New Product Launches and Product Enhancements 15.2.3. Market Consolidation 15.2.3.1. M&A by Regions, Investment and Applications 15.2.3.2. M&A Key Players, Forward Integration and Backward Integration 15.3. Company Profiles: Key Players 15.3.1. Gohar Saffron 15.3.1.1. Company Overview 15.3.1.2. Financial Overview 15.3.1.3. Formulation Portfolio 15.3.1.4. Business Strategy 15.3.1.5. Recent Developments 1.1.1.1. Manufacturing Footprint 15.3.2. Rowhani Saffron Co. 15.3.3. Iran Saffron Company 15.3.4. Saffron Business Co. 15.3.5. Royal Saffron 15.3.6. Damon Enterprises 15.3.7. Grandor 15.3.8. Golden Pars Maha 15.3.9. Shahri Food Products 15.3.10. Linkage Internationals 15.3.11. Esfahan Pishro 15.3.12. Mehr Azin Bonab 15.3.13. Gohar Nab Sara 15.3.14. Great American Spice 15.3.15. HEA & Co Spanish 15.3.16. Rah Abrisham Sialk International 15.3.17. Taj Agro Products, 15.3.18. King Kesariya 15.3.19. Damon Enterprises 15.3.20. Good Life Global 15.3.21. Rowhani 15.3.22. Jmd Agro Foods 16. Primary Key Insights

About This Report

Report ID 24308
Category Food & Beverages
Published Date JAN 2020
Updated Date Sep 2021
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