Insights on the Saffron Global Market to 2028 - by Application, Grade and Region - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Saffron Market Size, Share & Trends Analysis Report By Application (Cosmetics, Food, Medical), By Grade (Grade I, II, III, IV), By Region (APAC, MEA, North America, Europe), And Segment Forecasts, 2020 - 2028" report has been added to ResearchAndMarkets.com's offering.

The global saffron market size is expected to reach USD 721.5 million by 2028, according to a new report by the publisher, expanding at a CAGR of 8.5% over the forecast period.

Companies Mentioned

• Mehr Saffron
• Flora Saffron
• Royal Saffron Company
• Safrante Global Company, S.L.U.
• Esfedan Saffron Company
• Tarvand Saffron Co.
• Saffron Business
• Iran Saffron
• Rowhani Saffron Co.
• Gohar Saffron

The demand for saffron has been growing rapidly owing to several factors, such as the growing demand for natural ingredients in the food industry. Furthermore, the medicinal properties of saffron have also been one of the key driving factors contributing to the growth of the market. Saffron is the most versatile and costliest spice in the world. Saffron is the dry stigma of Crocus Sativus, where each flower has only 3 stigmas. The process of handpicking the saffron thread is very labor-intensive and over 70,000 flowers produce 1 pound of saffron.

The extensive production process coupled with lower production volumes makes it the most expensive spice among others. Saffron corms are needed for the production of saffron, and the key suppliers of this raw material include Roco saffron, American Meadows, and Bloembollenbedrijf J.C.Koot (sattivus.com). Saffron is available in four grades including grades I, II, III, and IV. However, grade I is the highest quality of saffron containing all red stigmas having excellent coloring, flavoring, and aromatic properties, whereas grade IV is the lowest quality of the product that needs to be used in a large quantity to get the optimum results. Asia Pacific is one of the key regions in the market with the dominant share in 2020.

The demand for saffron is continuously on the rise owing to its increasing usage in the traditional cuisines of Asia Pacific countries. Furthermore, saffron is used in traditional Asian medicines to treat or prevent various diseases and health conditions. The increasing usage of the product in various dietary supplements as an ingredient is also expected to bolster the demand over the forecast period. The majority of the players operating in the global market are export-oriented and focus more on their supply chain and global distribution network to meet the increasing demand from various application industries across the globe.

Saffron Market Report Highlights

• The grade I segment accounted for the largest revenue share of over 59.98% in 2020 and is estimated to retain the dominant position throughout the forecast period
• The medical application segment is projected to be the fastest-growing segment over the forecast period
• The increasing product usage in dietary supplements and medicines for the treatment or prevention of various health conditions, such as high cholesterol levels and healing of second-degree burns, boosts the segment growth
• Middle East & Africa is the key region, which is anticipated to witness the fastest growth in the market over the forecast period
• Middle East holds the largest production cluster of saffron and has increasing product usage in the food as well as medical applications contributing to the highest growth of the regional market

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Saffron Market: Variables, Trends & Scope

3.1 Market Lineage Outlook

3.1.1 Parent Market Outlook: Spices Market

3.1.2 Related Market Outlook: Curcumin Market

3.2 Industry Value Chain Analysis

3.2.1 Raw Material Trends

3.2.1.1 Major Raw Material Analysis

3.2.1.2 Procurement Best Practices

3.2.2 Manufacturing Trends

3.2.2.1 Technology Trends

3.3 Vendor Selection Criteria

3.4 Regulatory Framework

3.4.1 The Jammu and Kashmir Saffron Act

3.4.2 FDA

3.4.3 SAFFIC

3.4.3.1 International regulations

3.4.3.1.1 National regulations

3.4.3.2 Saffron in whole or powder form shall conform to the following respective standards:

3.5 Market Dynamics

3.5.1 Market Driver Analysis

3.5.1.1 Growing Demand For Saffron In Medical And Cosmetic Applications

3.5.1.2 Expanding Food Industry In Various Regions

3.5.2 Market Restraint Analysis

3.5.2.1 High Cost Of Saffron

3.5.3 Market Challenge Analysis

3.5.3.1 Weak Packaging Resulting In Quality Degradation Of Saffron

3.6 Saffron Industry Analysis - Porter's Analysis

3.7 Saffron Industry Analysis Pestel Analysis

3.8 Price Analysis, By Region and Grade, 2020

3.8.1 Wholesale Price

3.8.2 Retail Price

Chapter 4 Saffron Bulb Market Analysis

4.1 List of Key Players in the Market

4.2 Price of Saffron Bulb, 2020

4.3 Saffron Bulb Certification

Chapter 5 Saffron Market: Grade Estimates & Trend Analysis

5.1 Definition & Scope

5.2 Saffron Market: Grade Movement Analysis & Market Share, 2020 & 2028

5.3 Grade I

5.4 Grade II

5.5 Grade III

5.6 Grade IV

Chapter 6 Saffron Market: Application Estimates & Trend Analysis

Chapter 7 Saffron Market: Regional Estimates & Trend Analysis

Chapter 8 Competitive Analysis

Chapter 9 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/nhhv0m