Saffron Market, by Form (Thread, Powder, and Liquid), by End-use Industry (Food and Beverages, Pharmaceutical, Personal Care and Cosmetics, and Textile) by Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 - 2025

  • To Be Published : Dec 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Saffron is one of the expensive spices in the world and its scientific name is Crocus Sativus L. Saffron is currently being cultivated in some of the major economies of the world such as Iran, India, Spain, Greece, Italy, Azerbaijan, Turkey, Egypt, France, United Arab Emirates, Iraq, Afghanistan, and Pakistan. Saffron extract and its ingredients such as crocin and crocetin has health benefits such as improvement in memory and learning skills. Saffron plays an important role in cooking, cosmetics, and perfumes as flavoring and coloring agents. Saffron is also used for the treatment of depression, neuronal injury, anxiety, insulin resistance, and diabetic neuropathy.

Market Dynamics

Increasing demand for saffron amongst the consumers due to its application in food industry is expected to be a major factor driving growth of the global saffron market over the forecast period. In food, saffron is used as a spice, flavoring agent, and yellow food coloring, which makes it one of the most preferred spices of consumers. A small amount of saffron to certain recipe improves taste of the food. For instance, according to the India Brand Equity Foundation (IBEF), food industry in India is expected to reach US$ 63.5 billion by the end of 2018.

Furthermore, increasing consumer awareness about saffron application for skin care is driving growth of the saffron market. As saffron is an antifungal thus it is used in the treatment of tan removal, acne removal, and other skin related issues. Saffron has red scarlet stigmas which are mostly used as spices and natural dye in skin care products. Also, in most of the homemade remedies for fairness and beautiful skin, saffron is used.

However, low availability and high cost of saffron is a major factor restraining growth of the global saffron market.

Market Outlook

  • Among end-use industry, cosmetics segment held a significant market share in the global saffron market in 2017, owing to increasing demand for saffron in the cosmetics industry. Saffron contain vitamins and antioxidants that are beneficial to the skin. It is anti-inflammatory and soothe the skin. Saffron is used in face packs and fairness creams. The potassium content in saffron helps with the cell formation and skin repair. For instance, according to the U.S. Department of Commerce’s International Trade Administration, France cosmetics industry was valued at US$ 18.2 billion in 2016, which increased to US$ 19.5 billion in 2017.
  • Asia Pacific is expected to be the fastest growing region in the global saffron market over the forecast period due to increasing demand for saffron in pharmaceutical industry. For instance, According to India Brand Equity Foundation (IBEF), in 2017 the Indian pharmaceutical industry was valued at US$ 33 billion and expected to reach at US$ 55 billion by 2020 and exhibited a CAGR of 22.4% during the period 2014-2020. Saffron has properties such as mutation-preventing, cancer-suppressing, antioxidant, immuno-modulating, helps to maintain cholesterol level, lowering coronary heart disease, anti-cancer and maintaining normal blood pressure these factors driving the market. Saffron is useful in the treatment of neurodegenerative disorders and related memory impairment. Saffron is a ß-adrenoceptors agonists, which stimulate the liver and kidneys, and increase heart rate and heart contractility rate. Moreover, saffron is used in textile and paint industry due to its properties such as natural color dyeing, oriental fragrance, and replacement of chemical color pigment. For instance, according to the India Brand Equity Foundation (IBEF), Indian textile market has increased from US$ 99 Billion in 2014 to US$137 Billion in 2016 and exhibited a CAGR of 17.6% during the period 2014-2016.
  • North America held significant market share in the global saffron market in 2017 and is expected to increase over the forecast period, owing to increasing consumer preferences for natural flavoring and colorings over artificial.

Key Players

Key players operating in the global saffron market include Gohar Saffron, Iran Saffron, Safrante Global Company, Evolva, Rowhani Saffron Co., Hijos de Eustaquio Abad & Co. SL, Tarvand Saffron Co., Baby Brand Saffron, Royal Saffron Company, Saharkhiz International Group Inc., Novin Saffron, and Azafranes Machegos SL.

Key Developments:-

  • In 2014, Abbott Healthcare Pvt. Ltd., announced to launch nutritional supplements in two flavors including saffron and almond. The company would manufacture nutritional products in its Gujarat’s manufacturing plant.
  • In September 2019, Pharmactive Biotech launched Affron all-natural which is a non-GMO Spanish saffron extract, Crocus sativus L., in the Asia Pacific market. The product is clinically approved for improving emotional state and sleep quality, induces relaxation, alleviate anxiety and depression symptoms.
  • In 2016, Aether Arts Perfume, a colognes and perfumes in the U.S, launched a unisex saffron perfume with a blend of pink peppercorn, turmeric, saffron, Cananga, jasmine, vanilla, and hazelnut.

Market Taxonomy

On the basis of form the global saffron market is segmented into:

  • Thread
  • Powder
  • Liquid

On the basis of end-use Industry, the global saffron market is segmented into:

  • Food and Beverages
  • Pharmaceutical
  • Personal Care and Cosmetics
  • Textile

On the basis of region, the global saffron market is segmented into:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • Northern Africa
    • Central Africa
    • South Africa

Choose License Type

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

[email protected]

Key Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.