Global Saffron Market size was valued at USD 1.5 Billion in 2024 and is expected to reach USD 2.6 Billion by 2033, at a CAGR of 6.8% during the forecast period 2024 – 2033.
Saffron Market: Overview
Saffron is a highly coveted spice made by using the dried stigma of the Crocus sativus flower. It is one of the costliest spices in the world in terms of mass due to the labor-intensive harvesting method. Saffron threads are deep crimson and have a particular flavor and perfume that includes flowery, honey-like overtones and traces of earthiness.
The growing acknowledgement of saffron health advantages is increasing its popularity beyond conventional culinary applications into the pharmaceutical, dietary supplement, and cosmetics sectors. Furthermore, as health and environmental concerns grow, people are increasingly looking for high-quality, organic saffron.
Another tendency is the spread of saffron production beyond traditional areas such as Iran and Spain, with India, Afghanistan, and Greece becoming as major producers. Furthermore, scientific advances in agricultural and processing technologies are increasing saffron productivity and quality.
In addition, e-commerce platforms are making saffron more accessible to customers throughout the world, which is helping to drive market expansion. Finally, the growing popularity of gourmet and unusual cuisines throughout the world is driving up demand for saffron as a premium component, thus propelling market growth.
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By grade, the grade I segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Grade I saffron dominates the market because of its excellent quality, which is distinguished by its bright color, intense scent, and strong flavor. Customers praise its purity and potency in culinary and medical applications.
By form, the petals segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Petals drive the saffron market because they are carefully collected from crocus flowers to produce saffron threads, which are valued for their distinct flavour, perfume, and medicinal benefits.
By application, the food supplements segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Food supplements include saffron for its alleged health advantages, which drives demand in the saffron industry. Saffron’s antioxidant qualities and possible health benefits lead to its appeal as a supplement.
Asia-Pacific dominates the saffron market owing to its historical and cultural reliance on spice in food, health, and rituals, as well as considerable production in countries such as Iran and India.
Mehr Saffron Company is the world’s highest rated saffron brand, selling high-quality saffron. Saffron spice, also known as Crocus Sativus, Saffron Crocus, Safron, Azafran, and Zafran, is classified into several types, including All-Red Saffron, Sargol Saffron, Cupe Saffron, and Pushal Saffron. Mehr Saffron items for sale include only the highest quality Afghan saffron Spanish saffron Greek saffron and Kashmiri saffron.
CMI has comprehensively analyzed the Global Saffron market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Saffron industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Saffron Market:
- Gohar Saffron
- HEA & Co Spanish
- Rowhani Saffron Co.
- Linkage Internationals
- Damon Enterprises
- Esfahan Pishro
- Rowhani
- Iran Saffron Company
- Saffron Business Co.
- Royal Saffron
- Grandor
- Golden Pars Maha
- Shahri Food Products
- Rah Abrisham Sialk International
- Taj Agro Products
- Jmd Agro Foods
- Good Life Global
- King Kesariya
- Great American Spice
- Others
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