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Saffron Market Size
- Report ID: GMI6947
- Published Date: Oct 2023
- Report Format: PDF
Saffron Market Size
Saffron Market size was valued at USD 1.16 billion in 2023 and is estimated to witness 4% CAGR from 2024 to 2032. One of the primary growth drivers is the increasing awareness of the numerous health benefits associated with saffron consumption.
Saffron is rich in antioxidants, such as crocin and crocetin, which have been linked to various health advantages, including improved mood, reduced symptoms of depression, and potential anti-cancer properties. As consumers become more health-conscious and seek natural remedies, the demand for saffron-based products in food, beverages, supplements, and cosmetics has surged.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Saffron Market Size in 2023: | USD 1.16 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4% |
| 2032 Value Projection: | USD 1.66 Billion |
| Historical Data for: | 2018 - 2023 |
| No. of Pages: | 210 |
| Tables, Charts & Figures: | 246 |
| Segments covered: | Grade, Form, Applications, Distribution channel |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Saffron is a high-value spice, and fluctuations in supply and demand can lead to price spikes, making it expensive. Additionally, the high market value of saffron has led to instances of adulteration and the sale of counterfeit saffron, which can negatively impact consumer trust and the reputation of saffron-based products. Ensuring the authenticity and quality of saffron products is a persistent challenge for the industry.
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Saffron Market Scope
