Major saffron market participants include Saharkhiz Saffron Co., Tarvand Saffron Co., Hebei Xingchen Biological Technology Co., Ltd., Gohar Saffron, Taj Agro International, Novin Saffron, Royal Saffron Company, Iran Saffron Company, Saffron Business Co., and Ehsan Saffron Co.
Selbyville, Delaware, Feb. 05, 2024 (GLOBE NEWSWIRE) —
The saffron market valuation is predicted to surpass USD 1.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The primary driver of the market is the increasing awareness and demand for natural and organic products. Consumers are gravitating towards clean-label ingredients, seeking authenticity, and are more discerning about the origin of the spices they consume. As per a 2021 report by International Food Information Council, 64% of American consumers are buying foods that have clean ingredients.
Saffron, with its rich heritage and association with wellness, perfectly aligns with these preferences. The growing interest in culinary exploration and international cuisines is amplifying the demand for saffron, as chefs and home cooks alike recognize its ability to elevate dishes with its unique aroma, flavor, and vibrant color.
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The saffron market from the powder form segment is anticipated to witness substantial growth through 2032, attributed to the convenience and versatility that saffron powder offers to consumers. The powder form allows for easier integration into a wide array of culinary creations, making it a popular choice for chefs and home cooks alike. Moreover, saffron powder finds applications beyond the kitchen, being a key ingredient in the formulation of health supplements and herbal products. The user-friendly nature of saffron powder has significantly expanded its reach, making it an integral part of not only traditional dishes but also modern, health-conscious lifestyles.
The saffron market from the personal care segment is expected to record strong CAGR from 2024 to 2032. The rich antioxidant properties of saffron coupled with its reputed skin-brightening and anti-inflammatory benefits, have led to its inclusion in a variety of skincare and beauty products. Saffron-infused creams, serums, and masks are gaining popularity for their potential to promote healthy, radiant skin.
The personal care segment recognizes saffron not only for its functional benefits but also for the sensory experience it imparts, with its distinct aroma and color. As consumer preferences shift towards natural and holistic beauty solutions, saffron stands out as a key ingredient in personal care products.
North America saffron market will expand through 2032, due to a surge in demand driven by evolving consumer preferences and culinary trends. The region’s diverse demographic, with a penchant for global cuisines, has led to an increased adoption of saffron in various culinary applications. The growing awareness of saffron’s health benefits and its appeal as a premium spice have contributed to its rising popularity in the region. The personal care sector is also incorporating saffron into skincare and cosmetic formulations, catering to the demand for natural and effective beauty solutions. All these factors are shaping the regional industry dynamics.
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Some of the key players in the saffron market are Saharkhiz Saffron Co., Tarvand Saffron Co., Hebei Xingchen Biological Technology Co., Ltd., Gohar Saffron, Taj Agro International, Novin Saffron, Royal Saffron Company, Iran Saffron Company, Saffron Business Co., and Ehsan Saffron Co.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Industry coverage
1.2 Market scope & definition
1.3 Base estimates & calculations
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data Sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Saffron industry 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Grade trends
2.4 Form trends
2.5 Application trends
2.6 Distribution channel trends
2.7 Regional trends
Chapter 3 Saffron Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter’s analysis
3.9 PESTEL analysis
3.10 Russia-Ukraine War Impact on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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