Saffron Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Poland, Belgium, Netherlands, Russia, Japan, China, India, South Korea, Malaysia, Sri Lanka, Brazil, Argentina, UAE, South Africa, Saudi Arabia), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026

Report ID: GMI1421




Summary Methodology

Burgeoning propensity towards natural coloring and flavoring products among consumers is expected to augment saffron market expansion. Furthermore, rising levels of disposable income across the globe are also boosting product consumption, given its high price point.
 

Saffron is a spice derived from the extraction of the stigmas of the crocus sativus or autumn crocus flower. Once harvested, it is dried and utilized either as a dye or coloring agent for food and other products, or as a spice to add flavor to dishes. Saffron is one of the most expensive spices across the globe and has a wide application scope across myriad industries such as food & beverage and pharmaceuticals, among others.
 

Growing demand for the product from the pharmaceutical is a major trend influencing saffron market dynamics. Saffron is used extensively in medical applications, owing to beneficial antioxidant and antiseptic properties, as well as its usage as an anti-depressant. Saffron-based medicines are used for the treatment of several ailments such as asthma, whooping cough, and dry skin among others.
 

Anti-inflammatory and antinociceptive characteristics are also contributing to the rising popularity of the product in the pharma sector. Additionally, application scope of the product in reducing risks of cardiovascular, for cancer treatment and for treatment of age-related macular degeneration, coupled with rising demand for holistic medicines from an increasingly health conscious consumer base is projected to propel saffron industry share over the forecast spell.
 

The food & beverage industry is among the largest consumers of saffron, owing to its application in food, confectionary and dairy products, among others. Saffron is used extensively in the industry as a spice to enhance taste and flavor of the dishes and as a coloring agent. Robust use of the product as a key ingredient in sweets, desserts and flavored drinks is among the main contributing factors to saffron market penetration in the segment.
 

The global saffron market is highly fragmented and is bolstered by the presence of strong participants such as Linkage Internationals, Jmd Agro Foods, Golden Pars Maha, Taj Agro Products, Damon Enterprises, Good Life Global, Royal Saffron, , HEA & Co Spanish, Grandor Co., Taj Agro, Shahri Food Products, Gohar Nab Sara, Esfahan Pishro, King Kesariya, Rah Abrisham Sialk International, Mehr Azin Bonab, Great American Spice and Rowhani.
 

Various business strategies including product launches, collaborations, expansions and more have been adopted by key industry players to gain a strong position in the emerging saffron market.
 

For example, CSIR-IHBT (Institute of Himalayan Bioresource Technology) and the Government of Himachal Pradesh’s Department of Agriculture have inked a strategic partnership, in order to combine their mutual strengths and boost the production of heeng and saffron in India.
 

Likewise, Pharmactive Biotech Products, a natural ingredients firm has announced the launch of its Affron Spanish saffron extract for the APAC market. The product is hailed as an all-natural additive and possesses a dosage threshold of 28mg per day, the lowest on the market.
 

The ongoing crisis emerging from the outbreak of COVID-19, which was declared a global pandemic in March 2020 has given rise to an unprecedented threat to human health. The pandemic has driven health and welfare industries across the globe to initiate efforts to develop a suitable vaccine or medication to combat further impact from the virus. Additionally, it has also sparked a need among consumers for immunity-boosting and holistic supplements and products to help cope with the onslaught of the potentially fatal virus. This in turn, is expected to present several lucrative growth prospects for the global saffron industry, given the product’s strong medicinal properties and increasing demand from the pharma and food production sectors.
 


What Information does this report contain?

Historical data coverage: 2015 to 2019; Growth Projections: 2020 to 2026.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


Customize this Report

Pre Book Now

Need a Discount? Get in touch with us for special pricing

Request Discount

Our Market Research Reports Include:

  • Market snapshot
  • Market Segmentation
  • Value Chain Analysis
  • Growth Dynamics
  • Potential Market Opportunities
  • Regulatory Overview
  • Technology Evolution
  • Innovation & Sustainability

Connect with our sales team

Benefits of Association

Data Coverage & Quality

GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.

Client Trust & Security

GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.

Customer Service

Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.

GMIPulse, our report store

We have introduced ‘GMIPulse’, which is our report store; designed to offer clients a one-stop platform for all market research and business intelligence requirements. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. GMIPulse allows you to track relevant industries and stay informed with latest innovation, competitive and regulatory developments to help design strategic framework.

Chat with us
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies. More info X