Fairfield Market Research Saffron Market Projected to Reach US$659.3 Mn by 2030

Saffron Market

Global Saffron Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Form Coverage, By Grade Coverage, By End Use Coverage, By Function Coverage, By Geographic Coverage and By Company)

Published Date: Nov 2023 | Format: | No. of Pages: 187

Industry: Food & Beverage


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Global Saffron Market Forecast

  • Saffron market valuation recorded at US$453.1 Mn in 2022 to reach US$659.3 Mn by 2030-end
  • Saffron market revenue poised for a CAGR of 4.8% during 2023 - 2030

Global Saffron Market Snapshot, 2018 - 2030

Quick Report Digest

  1. The key trend anticipated to fuel the saffron market growth is due to growing awareness of health benefits. As consumers become more health-conscious, saffron's positive impact on well-being is driving its demand in various culinary and medicinal applications, contributing to market expansion.
  2. Another major market trend expected to fuel the saffron market growth is the expanding cosmetic & beauty industry. Its antioxidant properties and exotic appeal make it a sought-after ingredient, driving demand among consumers looking for natural and luxurious beauty solutions.
  3. In 2022, the thread category dominated the industry. It is highly prized for its premium quality and is often considered superior due to its purity and potency.
  4. In terms of market share for saffron globally, the grade I segment is anticipated to dominate. Grade 1 saffron is carefully hand-harvested and undergoes a meticulous selection process, ensuring that it contains minimal impurities and foreign matter.
  5. In 2022, the retail category controlled the market. Saffron is primarily sold to individual consumers for culinary purposes, medicinal applications, and cosmetics.
  6. The flavouring and spice category is highly prevalent in the market for saffron. Saffron is prized for its ability to enhance the taste and fragrance of a wide array of culinary delights, including rice dishes, desserts, and beverages. Its distinct flavour imparts a unique and luxurious dimension to various cuisines.
  7. The Asia Pacific region is projected to account for the largest share of the global saffron market, owing to various factors such as growing interest in exotic flavours and herbal remedies that further fuel the saffron market's growth. The climate and altitude in parts of India, along with the traditional cultivation practices, make it conducive for saffron production.
  8. The market for saffron is expanding in North America due to the growing interest in gourmet cooking, health-conscious consumers, and the expanding food industry. However, North American Saffron faces stiff competition from established international suppliers.

A Look Back and a Look Forward - Comparative Analysis

The market for saffron has grown in popularity due to factors such as growing consumer demand for its different flavours and potential health benefits, rising awareness of saffron's culinary and medicinal uses, as well as its growing application in various industries such as food, cosmetics, and pharmaceuticals.

The market witnessed staggered growth during the historical period 2018 - 2022. It is due to its unique flavour and medicinal properties. The market has experienced fluctuations in prices due to factors like weather conditions and labour-intensive harvesting methods. However, the growing demand for saffron in the culinary and pharmaceutical industries has contributed to its enduring market presence.

With the rising consumer demand for natural and premium ingredients, saffron's versatile applications in culinary, pharmaceuticals, and cosmetics, coupled with its perceived health benefits, stay competitive in the market. Additionally, the growing awareness of saffron's unique flavour profile and its use in traditional cuisines worldwide is anticipated to boost its popularity. However, challenges related to the high cost of production and the susceptibility of saffron crops to climate change may pose constraints. Overall, the saffron market is expected to witness steady growth in the coming years.

Global Saffron Market, (US$ Mn), 2018 - 2030

Key Growth Determinants

  • Increasing Demand for Natural & Healthy Ingredients

Saffron is renowned for its vibrant colour and distinct flavour, making it a popular choice in culinary and medicinal applications. Consumers are increasingly seeking out natural ingredients, driven by awareness of the health benefits and a desire to avoid synthetic additives and preservatives.

Saffron fits this demand perfectly, as it is a pure and unprocessed spice known for its antioxidant properties, anti-inflammatory effects, and potential mood-enhancing qualities.

As consumer preferences continue to shift towards clean-label products and holistic well-being, the saffron market is poised for sustained growth, catering to the demand for healthier, all-natural options in both food and health products.

  • Growth of Food and Beverages Industry

Saffron has become increasingly popular in culinary applications, driving its demand within this sector. Saffron's allure lies in its unique flavour, aroma, and vibrant colour, making it a sought-after ingredient for enhancing the taste and presentation of various dishes.

Moreover, the food and beverage industry's emphasis on innovation and premiumisation has led to increased use of Saffron in artisanal and gourmet products, such as saffron-infused oils, sauces, desserts, and beverages.

As consumer preferences shift towards high-quality, natural ingredients, saffron's appeal continues to grow, propelling the saffron market forward within the food and beverage industry.

  • Increasing Promotion of Saffron Culmination

Governments, agricultural organisations, and entrepreneurs are actively encouraging saffron cultivation due to its economic and agricultural benefits. Saffron's high market value, coupled with its adaptability to various climates, makes it an attractive crop for farmers.

Additionally, Saffron's demand in the food, cosmetic, and pharmaceutical industries is steadily increasing, further boosting its cultivation. Initiatives such as subsidies, training programs, and research support are being rolled out to educate farmers on best practices, ensuring higher yields and better quality saffron.

The collective effort not only stimulates economic growth but also preserves traditional cultivation practices, safeguarding Saffron's cultural and historical significance.

Major Growth Barriers

  • Changing Preferences of Cultural & Culinary Traditions

As consumer tastes evolve and diversify, traditional dishes and culinary practices are adapting to accommodate new flavours and ingredients. Some cultures are exploring alternative seasonings and flavourings that are more readily available and cost-effective.

Additionally, fusion cuisine and the blending of different culinary traditions are becoming increasingly popular, further diluting the demand for saffron. As a result, saffron producers and suppliers must navigate a challenging landscape marked by changing consumer preferences and culinary trends, impacting the growth prospects of the saffron market.

  • Long Harvesting Processes

Saffron requires meticulous hand-picking, as each flower yields only three delicate red threads. The limited availability of saffron flowers and the manual labour involved contribute to its high production costs, making saffron one of the world's most expensive spices by weight. This extended and resource-intensive harvesting process places pressure on saffron producers to meet growing demand while maintaining quality, thus posing a challenge to the expansion of the saffron market.

Key Trends and Opportunities to Look at

  1. Perceived Health Benefits of Saffron

Saffron is recognised for its antioxidant properties, mood-enhancing qualities, and potential to alleviate symptoms of various health conditions. As consumers get more health conscious, the demand for saffron as a natural and beneficial ingredient in culinary and medicinal applications continues to rise.

  1. Expanding Cosmetics & Beauty Industry

Saffron is increasingly used in skincare and cosmetic products due to its skin-enhancing properties. Its inclusion in beauty formulations is attributed to its antioxidant and anti-inflammatory qualities, which promote healthy and glowing skin. As consumer demand for natural and organic beauty products continues to rise, saffron's role in this industry is expected to grow, fueling market expansion.

  1. Popularity Of Culinary Trends

Saffron, with its distinctive aroma, vibrant colour, and unique taste, has become a coveted ingredient among chefs and food enthusiasts. Its integration into various cuisines, from the Mediterranean to Indian, reflects a growing demand for gourmet experiences.

Consumers are seeking authenticity and are willing to pay a premium for saffron's exceptional quality. As a result, the saffron market is thriving, with the culinary world's fascination with unique and high-quality ingredients propelling its growth in the global food industry.

Global Saffron Market, DROs

How Does the Regulatory Scenario Shape this Industry?

Regulatory bodies play a pivotal role in shaping this industry, as Saffron is a high-value spice with a history of adulteration and mislabeling. These regulations are designed to safeguard the interests of both producers and consumers. The International Organization for Standardization (ISO) has established specific guidelines for the quality of saffron, covering factors such as colour strength, flavour, aroma, and absence of foreign matter.

Additionally, various countries have their regulatory bodies, like the Food and Drug Administration (FDA) in the United States and the European Food Safety Authority (EFSA) in the European Union, which oversee the import and sale of Saffron.

The regulatory scenario in the saffron industry acts as a cornerstone for quality assurance, consumer trust, and fair trade practices. It establishes a framework that encourages transparency and accountability, thereby promoting the sustainable growth of the global saffron market.

Fairfield’s Ranking Board

Top Segments

  1. Thread Category Continues to Dominate over Powder Segments

The thread segment dominated the market in 2022. It is characterised by long, slender, and deep-red strands with a powerful aroma and flavour. Thread saffron is typically used in traditional dishes where its vibrant colour and distinct taste are essential, such as paella, biryani, or risotto. It is also a popular choice for garnishing and infusing liquids.

Furthermore, the powder category is projected to experience the fastest market growth. It is a convenient option for recipes that require even distribution of saffron flavour and colour.

Powdered Saffron is commonly used in baking, soups, sauces, and certain beverages, providing a consistent saffron essence throughout the dish. It is easier to measure and dissolve, making it ideal for larger-scale food production.

  1. Grade I Will Surge Ahead

In 2022, the Grade I category dominated the industry. This Grade consists of the stigma threads (saffron threads) of the Crocus sativus flower that are all of similar length, thickness, and colour. Grade I saffron is often hand-picked and processed with great care to maintain its premium quality. It is favoured by chefs and consumers for its superior taste and aroma, making it suitable for culinary and medicinal purposes.

Due to its high quality, Grade I saffron commands a premium price in the market. On the other hand, the grade II category is anticipated to grow substantially throughout the projected period. It may have variations in colour, aroma, and size of stigma threads.

Grade II saffron is still of good quality. It is used in various culinary applications, but it may possess a different intensity of flavour and aroma than Grade I saffron. It is often more affordable than Grade I saffron, making it accessible to a broader range of consumers.

  1. Retail Sales Bring in the Maximum Revenue

The retail segment dominated the market in 2022. Saffron is sought after by individuals who use it for culinary purposes and its potential health benefits. In retail, saffron is typically packaged in small quantities, making it accessible to home cooks and food enthusiasts.

The demand for saffron in the retail sector is driven by its versatility in various cuisines and its use in desserts, rice dishes, and beverages. The foodservice category is expected to experience the fastest growth within the forecast time frame.

Saffron is used to enhance the flavour, aroma, and visual appeal of dishes, making it a popular choice in upscale dining establishments. It is featured in a wide range of gourmet dishes, including risottos, paellas, saffron-infused sauces, and exotic desserts. Its inclusion in food service not only elevates the culinary experience but also adds a touch of luxury and uniqueness to the dishes, attracting discerning customers.

  1. Flavouring and Spice Category Leads

In 2022, the flavouring & spice category led the market growth. Saffron's distinctive taste and aroma make it a prized ingredient in a wide range of dishes, including rice-based recipes like paella and biryani, as well as in desserts like cakes and pastries. Its rich, earthy flavour imparts a unique and luxurious dimension to the Food it enhances. Due to its high cost, it is often used sparingly, adding a touch of luxury to dishes.

Moreover, the herbs category is expected to grow fastest in the saffron market during the forecast period. Saffron extracts and supplements have gained popularity in the wellness industry, finding applications in natural remedies, dietary supplements, and herbal teas. Research continues to explore its potential in various therapeutic areas, including mood disorders, cardiovascular health, and as an anti-cancer agent.

Regional Frontrunners

The Asia Pacific Remains the Largest Revenue Contributing Region in the Global Saffron Market

In various countries, saffron adoption is anticipated to dominate in the Asia Pacific region. The growing interest in exotic flavours and herbal remedies further fuels the saffron market's growth. The climate and altitude in parts of India, along with the traditional cultivation practices, make it conducive for saffron production.

Additionally, Iran, located in the neighboring Middle East region, is a major saffron producer and exporter, and its saffron often finds its way into the Asia Pacific market. Moreover, The demand for saffron in Asia-Pacific is driven by its use in various culinary dishes, traditional medicines, and the cosmetic industry.

Global Saffron Regional Outlook, 2018 - 2030

North America Likely to Witness the Significant Growth in Sales During Forecast Period

The increasing awareness of Saffron's culinary and medicinal properties is driving expansion in the North American Saffron market. The region's saffron cultivation is primarily concentrated in the United States, particularly in states like California.

The growing interest in gourmet cooking, health-conscious consumers, and the expanding food industry drives the demand for Saffron in North America. However, North American Saffron faces stiff competition from established international suppliers.

To thrive in the global market, North American saffron producers must focus on maintaining high quality, promoting sustainable cultivation practices, and tapping into the niche market for premium saffron products.

North America Saffron Market, by Grade, 2018 - 2030, US$ Mn

Fairfield’s Competitive Landscape Analysis

The global saffron market is a spread market with more major players present across the globe. These companies focus on product quality, sustainable farming practices, and innovative packaging to gain an edge. Additionally, stringent regulations and the high cost of saffron cultivation act as entry barriers, further intensifying competition among existing players in this lucrative spice market.

Who are the Leaders in Global Saffron Space?

  1. Esfedan Trading Company
  2. Saffron Tech
  3. Tarvand Saffron Co.
  4. Gohar Saffron
  5. Flora Saffron
  6. Iran Saffron Company
  7. Rowhani Saffron Co.
  8. Saffron Business Company
  9. Azafranes Manchegos
  10. Saharkhiz International Group
  11. Novin Saffron
  12. Altesa
  13. Sara Nuts
  14. Royal Saffron Company
  15. Taj Agro Products

Significant Company Developments

New Product Launches

  • June 2022: SoulTree, specializing in Ayurvedic beauty and wellness products, announced its Advanced Kumkumadi line of products. It is created using 100% pure, certified organic Mogra Saffron and is started in accordance with the fundamental principles of Ayurvedic traditions.
  • October 2022: USMS Saffron Co., a supplier in India, plans to spread its business beyond the spice market and launch health-oriented Food and beverages, including saffron drinks and supplements.
  • August 2023: Tata Consumer Products increased its product portfolio by launching Grade 1 Kashmiri saffron under the Himalayan brand, giving consumers a pure and excellent saffron experience. Directly imported from Kashmir, the Saffron is wrapped with an Al-enabled QR code that can be used to verify its authenticity.

Distribution Agreements

  • June 2023: Spanish biotech company Natac joined French firm Inoreal to spread its saffron product range. Its brand, Satieral, is used for weight loss, and Moodreal is used for this purpose. It expects an eight-fold rise in saffron output for the next three years and plans to explore opportunities in Latin America.
  • November 2022: Veggitech launched a Saffron farm in Sharjah, UAE, using smart built-in systems to sort the farming process. The farm is connected with the UAE's National Food Security Strategy for 2051.

An Expert’s Eye

Demand and Future Growth

As per Fairfield’s Analysis, increasing consumer awareness of Saffron's health benefits and culinary versatility is driving the market. The expanding application in various industries, including pharmaceuticals and cosmetics, is fueling market growth.

Moreover, sustainable farming practices and technological advancements in saffron cultivation are expected to enhance production yields, further supporting the market's growth prospects. Overall, the global saffron market is projected to continue its trajectory in the foreseeable future.

Supply Side of the Market

According to our analysis, India is one of the major consumer and supplier of saffron due to its climate and altitude. For instance, In April 2022, Lisnor offers a saffron liquid detergent with effective stain removal. It is spreading with a 3L bottle and fragrance-free detergent for baby clothes and 3 1 washing pods with natural saffron extract.

Iran is another major producer of saffron in the Asia Pacific region. Production factors influencing saffron supply include weather conditions, soil quality, and pest control. North America is the fastest growing region in production of saffron across the globe.

Saffron's limited geographical distribution, coupled with its labour-intensive cultivation and the need for strict quality control, can lead to fluctuations in supply and pricing, making it a high-value commodity in the global market.

The Global Saffron Market is Segmented as Below:

By Form:

  • Thread
  • Powder
  • Liquid

By Grade:

  • Grade I
  • Grade II
  • Grade III
  • Grade IV

By End Use:

  • Retail
  • Food Service
  • Culinary Products
  • Dairy Products
  • Confectionery
  • Tea
  • Others
  • Medical & Pharmaceuticals
  • Cosmetics
  • Skin Care
  • Hair Care
  • Others

By Function:

  • Flavouring and Spice
  • Herbs
  • Others

By Geographic Coverage:

  • North America 
    • U.S.
    • Canada 
  • Europe 
    • Germany
    • U.K.
    • France
    • Italy
    • Turkey
    • Russia
    • Rest of Europe 
  • Asia Pacific 
    • China
    • Japan
    • South Korea
    • India
    • Southeast Asia
    • Rest of Asia Pacific 
  • Latin America 
    • Brazil 
    • Mexico 
    • Argentina
    • Rest of Latin America 
  • Middle East & Africa  
    • GCC 
    • South Africa
    • Egypt
    • Nigeria
    • Rest of the Middle East & Africa

1. Executive Summary
    1.1. Global Saffron Market Snapshot
    1.2. Future Projections
    1.3. Key Market Trends
    1.4. Regional Snapshot, by Value, 2022
    1.5. Analyst Recommendations

 

2. Market Overview
    2.1. Market Definitions and Segmentations
    2.2. Market Dynamics
           2.2.1. Drivers
           2.2.2. Restraints
           2.2.3. Market Opportunities
    2.3. Value Chain Analysis
    2.4. Porter’s Five Forces Analysis
    2.5. Covid-19 Impact Analysis
           2.5.1. Supply
           2.5.2. Demand
    2.6. Impact of Ukraine-Russia Conflict
    2.7. Economic Overview
           2.7.1. World Economic Projections
    2.8. PESTLE Analysis

 

3. Global Saffron Market Outlook, 2018 - 2030
    3.1. Global Saffron Market Outlook, by Form, Value (US$ Mn), 2018 - 2030
           3.1.1. Key Highlights
                 3.1.1.1. Thread
                 3.1.1.2. Powder
                 3.1.1.3. Liquid
    3.2. Global Saffron Market Outlook, by Grade, Value (US$ Mn), 2018 - 2030
           3.2.1. Key Highlights
                 3.2.1.1. Grade I
                 3.2.1.2. Grade II
                 3.2.1.3. Grade III
                 3.2.1.4. Grade IV
    3.3. Global Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           3.3.1. Key Highlights
                 3.3.1.1. Retail
                 3.3.1.2. Food Service
                 3.3.1.3. Culinary Products
                 3.3.1.4. Dairy Products
                 3.3.1.5. Others
                 3.3.1.6. Tea
                 3.3.1.7. Others
                 3.3.1.8. Medical & Pharmaceuticals
                 3.3.1.9. Cosmetics
                 3.3.1.10. Skin Care
                 3.3.1.11. Hair Care
                 3.3.1.12. Others
    3.4. Global Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           3.4.1. Key Highlights
                 3.4.1.1. Flavouring & Spice
                 3.4.1.2. Herbs
                 3.4.1.3. Others
    3.5. Global Saffron Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
           3.5.1. Key Highlights
                 3.5.1.1. North America
                 3.5.1.2. Europe
                 3.5.1.3. Asia Pacific
                 3.5.1.4. Latin America
                 3.5.1.5. Middle East & Africa

 

4. North America Saffron Market Outlook, 2018 - 2030
    4.1. North America Saffron Market Outlook, by Form, Value (US$ Mn), 2018 - 2030
           4.1.1. Key Highlights
                 4.1.1.1. Thread
                 4.1.1.2. Powder
                 4.1.1.3. Liquid
    4.2. North America Saffron Market Outlook, by Grade, Value (US$ Mn), 2018 - 2030
           4.2.1. Key Highlights
                 4.2.1.1. Grade I
                 4.2.1.2. Grade II
                 4.2.1.3. Grade III
                 4.2.1.4. Grade IV
    4.3. North America Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           4.3.1. Key Highlights
                 4.3.1.1. Retail
                 4.3.1.2. Food Service
                 4.3.1.3. Culinary Products
                 4.3.1.4. Dairy Products
                 4.3.1.5. Confectionery
                 4.3.1.6. Tea
                 4.3.1.7. Others
                 4.3.1.8. Medical & Pharmaceuticals
                 4.3.1.9. Cosmetics
                 4.3.1.10. Skin Care
                 4.3.1.11. Hair Care
                 4.3.1.12. Others
    4.4. North America Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           4.4.1. Key Highlights
                 4.4.1.1. Flavouring & Spice
                 4.4.1.2. Herbs
                 4.4.1.3. Others
           4.4.2. BPS Analysis/Market Attractiveness Analysis
    4.5. North America Saffron Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
           4.5.1. Key Highlights
                 4.5.1.1. U.S. Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 4.5.1.2. U.S. Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 4.5.1.3. U.S. Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 4.5.1.4. U.S. Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 4.5.1.5. Canada Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 4.5.1.6. Canada Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 4.5.1.7. Canada Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 4.5.1.8. Canada Saffron Market Function, Value (US$ Mn), 2018 - 2030
           4.5.2. BPS Analysis/Market Attractiveness Analysis

 

5. Europe Saffron Market Outlook, 2018 - 2030
    5.1. Europe Saffron Market Outlook, by Form, Value (US$ Mn), 2018 - 2030
           5.1.1. Key Highlights
                 5.1.1.1. Thread
                 5.1.1.2. Powder
                 5.1.1.3. Liquid
    5.2. Europe Saffron Market Outlook, by Grade, Value (US$ Mn), 2018 - 2030
           5.2.1. Key Highlights
                 5.2.1.1. Grade I
                 5.2.1.2. Grade II
                 5.2.1.3. Grade III
                 5.2.1.4. Grade IV
5.3. Europe Saffron Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
           5.3.1. Key Highlights
                 5.3.1.1. Retail
                 5.3.1.2. Food Service
                 5.3.1.3. Culinary Products
                 5.3.1.4. Dairy Products
                 5.3.1.5. Confectionery
                 5.3.1.6. Tea
                 5.3.1.7. Others
                 5.3.1.8. Medical & Pharmaceuticals
                 5.3.1.9. Cosmetics
                 5.3.1.10. Skin Care
                 5.3.1.11. Hair Care
                 5.3.1.12. Others
    5.4. Europe Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           5.4.1. Key Highlights
                 5.4.1.1. Flavouring & Spice
                 5.4.1.2. Herbs
                 5.4.1.3. Others
           5.4.2. BPS Analysis/Market Attractiveness Analysis
    5.5. Europe Saffron Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
           5.5.1. Key Highlights
                 5.5.1.1. Germany Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.2. Germany Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.3. Germany Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.4. Germany Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 5.5.1.5. U.K. Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.6. U.K. Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.7. U.K. Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.8. U.K. Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 5.5.1.9. France Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.10. France Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.11. France Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.12. France Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 5.5.1.13. Italy Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.14. Italy Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.15. Italy Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.16. Italy Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 5.5.1.17. Turkey Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.18. Turkey Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.19. Turkey Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.20. Turkey Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 5.5.1.21. Russia Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.22. Russia Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.23. Russia Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.24. Russia Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 5.5.1.25. Rest of Europe Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 5.5.1.26. Rest of Europe Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 5.5.1.27. Rest of Europe Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 5.5.1.28. Rest of Europe Saffron Market Function, Value (US$ Mn), 2018 - 2030
           5.5.2. BPS Analysis/Market Attractiveness Analysis

 

6. Asia Pacific Saffron Market Outlook, 2018 - 2030
    6.1. Asia Pacific Saffron Market Outlook, by Form, Value (US$ Mn), 2018 - 2030
           6.1.1. Key Highlights
                 6.1.1.1. Thread
                 6.1.1.2. Powder
                 6.1.1.3. Liquid
    6.2. Asia Pacific Saffron Market Outlook, by Grade, Value (US$ Mn), 2018 - 2030
           6.2.1. Key Highlights
                 6.2.1.1. Grade I
                 6.2.1.2. Grade II
    6.3. Asia Pacific Saffron Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
           6.3.1. Key Highlights
                 6.3.1.1. Retail
                 6.3.1.2. Food Service
                 6.3.1.3. Culinary Products
                 6.3.1.4. Dairy Products
                 6.3.1.5. Confectionery
                 6.3.1.6. Tea
                 6.3.1.7. Others
                 6.3.1.8. Medical & Pharmaceuticals
                 6.3.1.9. Cosmetics
                 6.3.1.10. Skin Care
                 6.3.1.11. Hair Care
                 6.3.1.12. Others
    6.4. Asia Pacific Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           6.4.1. Key Highlights
                 6.4.1.1. Flavouring & Spice
                 6.4.1.2. Herbs
                 6.4.1.3. Others
           6.4.2. BPS Analysis/Market Attractiveness Analysis
    6.5. Asia Pacific Saffron Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
           6.5.1. Key Highlights
                 6.5.1.1. China Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 6.5.1.2. China Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 6.5.1.3. China Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 6.5.1.4. China Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 6.5.1.5. Japan Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 6.5.1.6. Japan Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 6.5.1.7. Japan Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 6.5.1.8. Japan Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 6.5.1.9. South Korea Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 6.5.1.10. South Korea Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 6.5.1.11. South Korea Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 6.5.1.12. South Korea Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 6.5.1.13. India Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 6.5.1.14. India Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 6.5.1.15. India Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 6.5.1.16. India Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 6.5.1.17. Southeast Asia Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 6.5.1.18. Southeast Asia Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 6.5.1.19. Southeast Asia Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 6.5.1.20. Southeast Asia Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 6.5.1.21. Rest of Asia Pacific Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 6.5.1.22. Rest of Asia Pacific Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 6.5.1.23. Rest of Asia Pacific Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 6.5.1.24. Rest of Asia Pacific Saffron Market Function, Value (US$ Mn), 2018 - 2030
           6.5.2. BPS Analysis/Market Attractiveness Analysis

 

7. Latin America Saffron Market Outlook, 2018 - 2030
    7.1. Latin America Saffron Market Outlook, by Form, Value (US$ Mn), 2018 - 2030
           7.1.1. Key Highlights
                 7.1.1.1. Thread
                 7.1.1.2. Powder
                 7.1.1.3. Liquid
    7.2. Latin America Saffron Market Outlook, by Grade, Value (US$ Mn), 2018 - 2030 
           7.2.1. Key Highlights
                 7.2.1.1. Grade I
                 7.2.1.2. Grade II
                 7.2.1.3. Grade III
                 7.2.1.4. Grade IV
    7.3. Latin America Saffron Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
           7.3.1. Key Highlights
                 7.3.1.1. Retail
                 7.3.1.2. Food Service
                 7.3.1.3. Culinary Products
                 7.3.1.4. Dairy Products
                 7.3.1.5. Confectionery
                 7.3.1.6. Tea
                 7.3.1.7. Others
                 7.3.1.8. Medical & Pharmaceuticals
                 7.3.1.9. Cosmetics
                 7.3.1.10. Skin Care
                 7.3.1.11. Hair Care
                 7.3.1.12. Others
    7.4. Latin America Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           7.4.1. Key Highlights
                 7.4.1.1. Flavouring & Spice
                 7.4.1.2. Herbs
                 7.4.1.3. Others
           7.4.2. BPS Analysis/Market Attractiveness Analysis
    7.5. Latin America Saffron Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
           7.5.1. Key Highlights
                 7.5.1.1. Brazil Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 7.5.1.2. Brazil Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 7.5.1.3. Brazil Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 7.5.1.4. Brazil Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 7.5.1.5. Mexico Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 7.5.1.6. Mexico Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 7.5.1.7. Mexico Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 7.5.1.8. Mexico Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 7.5.1.9. Argentina Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 7.5.1.10. Argentina Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 7.5.1.11. Argentina Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 7.5.1.12. Argentina Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 7.5.1.13. Rest of Latin America Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 7.5.1.14. Rest of Latin America Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 7.5.1.15. Rest of Latin America Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 7.5.1.16. Rest of Latin America Saffron Market Function, Value (US$ Mn), 2018 - 2030
           7.5.2. BPS Analysis/Market Attractiveness Analysis

 

8. Middle East & Africa Saffron Market Outlook, 2018 - 2030
    8.1. Middle East & Africa Saffron Market Outlook, by Form, Value (US$ Mn), 2018 - 2030
           8.1.1. Key Highlights
                 8.1.1.1. Thread
                 8.1.1.2. Powder
                 8.1.1.3. Liquid
    8.2. Middle East & Africa Saffron Market Outlook, by Grade, Value (US$ Mn), 2018 - 2030
           8.2.1. Key Highlights
                 8.2.1.1. Grade I
                 8.2.1.2. Grade II
                 8.2.1.3. Grade III
                 8.2.1.4. Grade IV
    8.3. Middle East & Africa Saffron Market Outlook, by End Use, Value (US$ Mn), 2018 - 2030
           8.3.1. Key Highlights
                 8.3.1.1. Retail
                 8.3.1.2. Food Service
                 8.3.1.3. Culinary Products
                 8.3.1.4. Dairy Products
                 8.3.1.5. Confectionery
                 8.3.1.6. Tea
                 8.3.1.7. Others
                 8.3.1.8. Medical & Pharmaceuticals
                 8.3.1.9. Cosmetics
                 8.3.1.10. Skin Care
                 8.3.1.11. Hair Care
                 8.3.1.12. Others
    8.4. Middle East & Africa Saffron Market Outlook, by Function, Value (US$ Mn), 2018 - 2030
           8.4.1. Key Highlights
                 8.4.1.1. Flavouring & Spice
                 8.4.1.2. Herbs
                 8.4.1.3. Others
           8.4.2. BPS Analysis/Market Attractiveness Analysis
    8.5. Middle East & Africa Saffron Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
           8.5.1. Key Highlights
                 8.5.1.1. GCC Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 8.5.1.2. GCC Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 8.5.1.3. GCC Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 8.5.1.4. GCC Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 8.5.1.5. South Africa Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 8.5.1.6. South Africa Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 8.5.1.7. South Africa Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 8.5.1.8. South Africa Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 8.5.1.9. Egypt Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 8.5.1.10. Egypt Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 8.5.1.11. Egypt Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 8.5.1.12. Egypt Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 8.5.1.13. Nigeria Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 8.5.1.14. Nigeria Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 8.5.1.15. Nigeria Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 8.5.1.16. Nigeria Saffron Market Function, Value (US$ Mn), 2018 - 2030
                 8.5.1.17. Rest of Middle East & Africa Saffron Market by Form, Value (US$ Mn), 2018 - 2030
                 8.5.1.18. Rest of Middle East & Africa Saffron Market Grade, Value (US$ Mn), 2018 - 2030
                 8.5.1.19. Rest of Middle East & Africa Saffron Market End Use, Value (US$ Mn), 2018 - 2030
                 8.5.1.20. Rest of Middle East & Africa Saffron Market Function, Value (US$ Mn), 2018 - 2030
           8.5.2. BPS Analysis/Market Attractiveness Analysis

 

9. Competitive Landscape
    9.1. Function vs Application Heatmap
    9.2. Manufacturer vs Application Heatmap
    9.3. Company Market Share Analysis, 2022
    9.4. Competitive Dashboard
    9.5. Company Profiles
           9.5.1. Esfedan Trading Company
                 9.5.1.1. Company Overview
                 9.5.1.2. Product Portfolio
                 9.5.1.3. Financial Overview
                 9.5.1.4. Business Strategies and Development
           9.5.2. Saffron Tech
                 9.5.2.1. Company Overview
                 9.5.2.2. Product Portfolio
                 9.5.2.3. Financial Overview
                 9.5.2.4. Business Strategies and Development
           9.5.3. Tarvand Saffron Co.
                 9.5.3.1. Company Overview
                 9.5.3.2. Product Portfolio
                 9.5.3.3. Financial Overview
                 9.5.3.4. Business Strategies and Development
           9.5.4. Gohar Saffron
                 9.5.4.1. Company Overview
                 9.5.4.2. Product Portfolio
                 9.5.4.3. Financial Overview
                 9.5.4.4. Business Strategies and Development
           9.5.5. Flora Saffron
                 9.5.5.1. Company Overview
                 9.5.5.2. Product Portfolio
                 9.5.5.3. Financial Overview
                 9.5.5.4. Business Strategies and Development
           9.5.6. Iran Saffron Company
                 9.5.6.1. Company Overview
                 9.5.6.2. Product Portfolio
                 9.5.6.3. Financial Overview
                 9.5.6.4. Business Strategies and Development
           9.5.7. Rowhani Saffron Co.
                 9.5.7.1. Company Overview
                 9.5.7.2. Product Portfolio
                 9.5.7.3. Financial Overview
                 9.5.7.4. Business Strategies and Development
           9.5.8. Saffron Business Company
                 9.5.8.1. Company Overview
                 9.5.8.2. Product Portfolio
                 9.5.8.3. Financial Overview
                 9.5.8.4. Business Strategies and Development
           9.5.9. Azafranes Manchegos
                 9.5.9.1. Company Overview
                 9.5.9.2. Product Portfolio
                 9.5.9.3. Financial Overview
                 9.5.9.4. Business Strategies and Development
           9.5.10. Saharkhiz International Group
                 9.5.10.1. Company Overview
                 9.5.10.2. Product Portfolio
                 9.5.10.3. Financial Overview
                 9.5.10.4. Business Strategies and Development
           9.5.11. Novin Saffron
                 9.5.11.1. Company Overview
                 9.5.11.2. Product Portfolio
                 9.5.11.3. Financial Overview
                 9.5.11.4. Business Strategies and Development
           9.5.12. Altesa
                 9.5.12.1. Company Overview
                 9.5.12.2. Product Portfolio
                 9.5.12.3. Financial Overview
                 9.5.12.4. Business Strategies and Development
           9.5.13. Sara Nuts
                 9.5.13.1. Company Overview
                 9.5.13.2. Product Portfolio
                 9.5.13.3. Financial Overview
                 9.5.13.4. Business Strategies and Development
           9.5.14. Royal Saffron Company
                 9.5.14.1. Company Overview
                 9.5.14.2. Product Portfolio
                 9.5.14.3. Financial Overview
                 9.5.14.4. Business Strategies and Development
           9.5.15. Taj Agro Products
                 9.5.15.1. Company Overview
                 9.5.15.2. Product Portfolio
                 9.5.15.3. Financial Overview
                 9.5.15.4. Business Strategies and Development

10. Appendix
    10.1. Research Methodology
    10.2. Report Assumptions
    10.3. Acronyms and Abbreviations

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

2022

 

2018 - 2022

2023 - 2030

Value: US$ Million

 

REPORT FEATURES

DETAILS

Form Coverage

  • Thread
  • Powder
  • Liquid

Grade Coverage

  • Grade I
  • Grade II
  • Grade III
  • Grade IV

End Use Coverage

  • Retail
  • Food Service
  • Culinary Products
  • Dairy Products
  • Confectionery
  • Tea
  • Others
  • Medical & Pharmaceuticals
  • Cosmetics
  • Skin Care
  • Hair Care
  • Others

Function Coverage

  • Flavouring and Spice
  • Herbs
  • Others

Geographical Coverage

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of EU
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
  • Latin America
  • Brazil
  • Mexico 
  • Rest of Latin America 
  • Middles East & Africa
  • GCC Countries 
  • South Africa 
  • Rest of Middle East & Africa

Leading Companies

  • Esfedan Trading Company
  • Saffron Tech
  • Tarvand Saffron Co.
  • Gohar Saffron
  • Flora Saffron
  • Iran Saffron Company
  • Rowhani Saffron Co.
  • Saffron Business Company
  • Azafranes Manchegos
  • Saharkhiz International Group
  • Novin Saffron
  • Altesa
  • Sara Nuts
  • Royal Saffron Company
  • Taj Agro Products

Report Highlights

Key Market Indicators, Macro-micro economic impact analysis,

Technological Roadmap, Key Trends, Driver, Restraints, and Future

Opportunities & Revenue Pockets, Porters 5 Forces Analysis, Historical

Trend (2019-2021), Market Estimates and Forecast, Market Dynamics,

Industry Trends, Competition Landscape, Category, Region, Country

wise Trends & Analysis, COVID-19 Impact Analysis (Demand and

Supply Chain)

FAQs : Saffron Market

Saffron prices are influenced by various factors like climatic conditions, geopolitical events, and cultivation practices. Additionally, geopolitical events in major saffron-producing regions, such as Iran, India, and Spain, can affect the global supply chain, causing price variations.

Saffron quality is determined by several factors, with the primary ones being crocin content, picrocrocin content, and safranal content – the three main chemical constituents responsible for saffron's colour, flavour, and aroma, respectively. The region of cultivation, climate, soil conditions, and harvesting techniques play crucial roles in determining the quality of saffron.

The global demand for saffron is influenced by changing consumer preferences, and culinary trends. As consumers become more adventurous in their culinary choices and seek unique flavours, saffron, with its distinctive taste and vibrant colour, has gained popularity in various cuisines worldwide. The growing interest in natural and organic ingredients has further boosted the demand for saffron as a premium spice.

Saffron-infused products like teas, oils, and desserts that reflect the integration of saffron into contemporary food trends, are experiencing growing traction in the global market.

Regulations and certifications play a crucial role in the global saffron market, ensuring product quality, authenticity, and adherence to safety standards. Regulatory bodies in saffron-producing countries, as well as international organizations, set standards for the cultivation, harvesting, and processing of saffron. Certifications such as ISO 3632, which specifies quality parameters for saffron, provide assurance to consumers regarding the authenticity and quality of the product.

Our Research Methodology

Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.

View Methodology
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