Saffron market is anticipated to grow at a CAGR of 6.4% during the forecast period (2024-2031). Primary factor supporting the market growth includes high antioxidant content, health benefits, memory enhancement, and UV-absorbing properties. Its high usage in cosmetic and medical applications is expected to drive its growth.
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The demand for natural and organic saffron in various industries is on the rise owing to health-conscious consumers’ preference for natural ingredients. According to the National Institute of Health (NIH) report published in March 2022, the global market for herbal cosmetics is experiencing a rapid growth due to the increasing awareness about the minimal side effects of herbal products. Valued at approximately $11.0 billion in 2016, the natural and organic personal care products market is projected to reach $22.0 billion by 2022.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Saffron Market by Type
- Organic
- Convention
Global Saffron Market by Form
- Thread or Filament
- Powder
- Liquid
Global Saffron Market by Application
- Food & Beverage
- Dietary Supplements
- Pharmaceutical
- Cosmetic and Skincare
- Others (Food Supplements and Personal Care)
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Esfedan Saffron Co.
- Gohar saffron co.
- Indus Organics
- Iran Saffron Co.
- Mehr Saffron
- Mehrab Saffron
- Rowhani Saffron Co.
- Royal Saffron
- Saffron Business
- Safran
- Saharkhiz Saffron Co.
- Tarvand Saffron Ghayen Co.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global saffron market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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