The latest report published by IMARC Group, titled “Saffron Market Report by Type, Form, Application and Region 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the saffron market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global market size reached US$ 518.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,017.8 Million by 2032, exhibiting a growth rate (CAGR) of 7.76% during 2024-2032.

What is saffron?

Saffron is a highly prized spice that is derived from the stigma of the crocus flower, scientifically known as Crocus sativus. It is known for its distinctive flavor, aroma, and vibrant red-orange color. Saffron is one of the most expensive spices in the world due to the labor-intensive harvesting process. Saffron is used in a variety of cuisines, including Indian, Persian, and Mediterranean, and is also used in traditional medicine due to its antioxidant, anti-inflammatory, and mood-enhancing properties.

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Saffron Market Trends and Drivers:

The increasing demand for saffron in medical applications with antibacterial and anti-inflammatory properties represents a key factor driving the market growth across the globe. In addition to this, the expanding cosmetics industry, along with the rising demand for natural and organic beauty products and increasing awareness regarding the benefits of saffron for the skin are contributing to the market growth. In line with this, the market is also driven by the increasing demand in the food and beverage (F&B) industry, especially in the production of luxury food products. Other factors, such as the increasing disposable income, especially that of middle-class consumers in the emerging economies, the easy product availability at proliferating e-commerce channels, are creating a positive outlook for the market across the globe.

Competitive Landscape With Key Players:

The competitive landscape of the saffron market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Esfedan Trading

  • Flora Saffron

  • Gohar Saffron

  • Grandorco

  • Great American Spice Company

  • HEA&CO

  • Mehr Saffron Company

  • Rowhani Saffron Co.

  • Safrante Global Company S.L.U.

  • Taj Agro International

  • Tarvand Saffron Co.

Key Market Segmentation:

The report has segmented the global saffron market based on type, form, application and region.

Breakup by Type:

  • Organic

  • Conventional

Breakup by Form:

  • Thread

  • Powder

  • Liquid

Breakup by Application:

  • Food

  • Pharmaceuticals

  • Cosmetics

  • Others

Breakup by Region:

  • North America

  • Asia Pacific

  • Europe

  • Latin America

  • Middle East and Africa

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Key Highlights of the Report:

  • Market Performance (2018-2023)

  • Market Outlook (2024-2032)

  • Market Trends

  • Market Drivers and Success Factors

  • Impact of COVID-19

  • Value Chain Analysis

  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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