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The global saffron market exhibited moderate growth during 2015-2020. Saffron is a crimson-colored spice extracted from the filaments of the crocus sativus flower. It is collected and dried and is commonly used as a coloring and flavoring agent in various food products. It is also used for adding fragrances to perfumes and desired color to textile dyes. Saffron is rich in various vitamins and dietary minerals and exhibits anti-depressant, antioxidant, and antiseptic properties due to which it is commonly used in the treatment of asthma, cough, cold and measles. Saffron is commercially available in the form of thread, liquid and powder and finds extensive applications in the manufacturing of food additives, dietary supplements, aromas, cosmetics and skincare products.
Significant growth in the cosmetics industry across the globe represents one of the key factors creating a positive outlook for the market. Saffron is widely used in the manufacturing of various personal care products, such as lotions, cleansers, anti-blemish and fairness creams and shampoos, due to its skin brightening and hair-strengthening properties. Furthermore, widespread product adoption as a key ingredient in various foods and beverages is also driving the market growth. With the increasing health consciousness among the masses, consumers are using saffron as a natural coloring and flavoring agent. In line with this, the utilization of saffron in medicines for its neuroprotective and anti-tumor properties to treat cancer, macular degeneration, arthritis and cardiovascular disorders is also contributing to the market growth. Additionally, the production of organic and chemical-free saffron to cater to the requirements of health-conscious consumers is anticipated to drive the market further. Looking forward, IMARC Group expects the global saffron market to grow at a CAGR of around 7% during the next five years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global saffron market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, form and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Tarvand Saffron Co.
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