Saffron Market size to grow by USD 210.37 million from 2022 to 2027, Driven by the growing use in the pharmaceutical and cosmetics industries

NEW YORK, April 14, 2023 /PRNewswire/ — The saffron market size is set to grow by USD 210.37 million between 2022 and 2027 and register a CAGR of 8.1%, according to Technavio’s latest market research report. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Technavio offers an overall analysis of the current global market scenario and the market environment through relevant charts, graph,s and illustrations. View Sample Report

The report also covers the following areas:

Saffron Market 2023-2027: Segmentation

The Saffron Market is segmented by the following:

• Type 
• Food
• Medical
• Cosmetics
• Others
• Geography 
• APAC
• Europe
• North America
• South America
• Middle East And Africa

The market share growth by the thread segment will be significant for the market growth during the forecast period. The thread segment is defined by the sale of saffron in the form of threads or stigmas. The main drivers for the segment growth include the high demand for premium-quality saffron in a variety of applications, including food, beverages, cosmetics, and pharmaceuticals. The price and quality of saffron threads vary according to these variables. The premium quality saffron commands a higher price. Hence, due to such factors, the segment is expected to witness an accelerating year-over-year growth rate during the forecast period. 

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Saffron Market 2023-2027: Vendor Analysis and Scope

To help businesses improve their market position, the saffron market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include Al Hasad Al Fakher Trading Est., Azafran de La Mancha, Great American Spice, Mehr Saffron, Organic Spices Inc., Rumi Spice, and Safrante Specialty Foods S.A.
Vendor Offerings

• Al Hasad Al Fakher Trading Est. – The company offers saffron that is used extensively for rice dishes.
• Azafran de La Mancha – The company offers saffron which is the slender, dried, reddish-brown, and flattened stigma of a small crocus.
• Great American Spice – The company offers saffron with threads that sport a deep orange-red color, impart a robust flavor to fish dishes, soups, broths, stews, bouillabaisse, paella, and rice.

The saffron market is concentrated, and the degree of concentration will accelerate. The growing use in the pharmaceutical and cosmetics industries will offer immense growth opportunities. However, the high production costs will hamper the market growth.

Saffron Market 2023-2027: Market Dynamics

Key Drivers

• A major driver for the growth of the saffron market is its growing use in the pharmaceutical and cosmetics industries.
• Saffron is a spice that has been utilized in cooking and conventional medication for millennia.
• Saffron has recently attracted attention due to its potential applications in the cosmetics and healthcare industries. Saffron has been examined for its likely mitigating, hostile to malignant growth, and neuroprotective properties in the drug area.
• Moreover, it has been exhibited to further develop temperament and may assist with treating wretchedness and uneasiness.
• Saffron has likewise been explored for its capability to bring down the gamble of coronary illness and work on cardiovascular well-being.
• Hence, such uses are expected to drive the demand for the market during the forecast period.

Major Challenges

• A major challenge hampering the growth of the saffron market is the high production costs.
• Saffron is one of the most expensive spices in the world due to its labor-intensive cultivation method. Saffron is physically reaped by hand-picking blossoms that just have three marks of shame.
• Saffron requires approximately 75,000 flowers to make one pound (lb). The labor-intensive and time-consuming process of harvesting drives up production costs.
• Saffron is a low-yield crop that grows best in conditions with adequate sunlight, well-drained soil, and dry conditions. The way that not all regions approach these ideal developing circumstances further decreases the stockpile of saffron and raises its price.
• Hence, such factors are known to impede the market growth of saffron during the forecast period.

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Saffron Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist saffron market growth during the next five years
• Estimation of the saffron market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the saffron market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of saffron market vendors

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• The India blended spices market size should rise by USD 896.57 million from 2022 to 2026 at a CAGR of 14.27%. The report extensively covers market segmentation by distribution channel (supermarket, convenience store, and online), type (garam masala, non-veg masala, chole and channa masala, and others), and geography (India). The rising awareness about the health benefits of blended spices is notably driving the blended spices market growth in India.
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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Formulation
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global saffron market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global saffron market 2017 – 2021 ($ million)

• 4.2 Formulation Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Formulation Segment 2017 – 2021 ($ million)

• 4.3 Type Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Formulation

• 6.1 Market segments
• Exhibit 30: Chart on Formulation – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Formulation – Market share 2022-2027 (%)

• 6.2 Comparison by Formulation 
• Exhibit 32: Chart on Comparison by Formulation
• Exhibit 33: Data Table on Comparison by Formulation

• 6.3 Thread – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Thread – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Thread – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Thread – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Thread – Year-over-year growth 2022-2027 (%)

• 6.4 Powder – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Powder – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Powder – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Powder – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Powder – Year-over-year growth 2022-2027 (%)

• 6.5 Liquid – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Liquid – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Liquid – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Liquid – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Liquid – Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Formulation 
• Exhibit 46: Market opportunity by Formulation ($ million)
• Exhibit 47: Data Table on Market opportunity by Formulation ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 48: Chart on Type – Market share 2022-2027 (%)
• Exhibit 49: Data Table on Type – Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 50: Chart on Comparison by Type
• Exhibit 51: Data Table on Comparison by Type

• 7.3 Food – Market size and forecast 2022-2027 
• Exhibit 52: Chart on Food – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Food – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Food – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Food – Year-over-year growth 2022-2027 (%)

• 7.4 Medical – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Medical – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Medical – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Medical – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Medical – Year-over-year growth 2022-2027 (%)

• 7.5 Cosmetics – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Cosmetics – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Cosmetics – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Cosmetics – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Cosmetics – Year-over-year growth 2022-2027 (%)

• 7.6 Others – Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 68: Market opportunity by Type ($ million)
• Exhibit 69: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 91: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027 
• Exhibit 95: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 Spain – Market size and forecast 2022-2027 
• Exhibit 99: Chart on Spain – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Spain – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Spain – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Spain – Year-over-year growth 2022-2027 (%)

• 9.10 Saudi Arabia – Market size and forecast 2022-2027 
• Exhibit 103: Chart on Saudi Arabia – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Saudi Arabia – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Saudi Arabia – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Saudi Arabia – Year-over-year growth 2022-2027 (%)

• 9.11 India – Market size and forecast 2022-2027 
• Exhibit 107: Chart on India – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on India – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.12 US – Market size and forecast 2022-2027 
• Exhibit 111: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Al Hasad Al Fakher Trading Est. 
• Exhibit 123: Al Hasad Al Fakher Trading Est. – Overview
• Exhibit 124: Al Hasad Al Fakher Trading Est. – Product / Service
• Exhibit 125: Al Hasad Al Fakher Trading Est. – Key offerings

• 12.4 Azafran de La Mancha
• Exhibit 126: Azafran de La Mancha – Overview
• Exhibit 127: Azafran de La Mancha – Product / Service
• Exhibit 128: Azafran de La Mancha – Key offerings

• 12.5 Great American Spice
• Exhibit 129: Great American Spice – Overview
• Exhibit 130: Great American Spice – Product / Service
• Exhibit 131: Great American Spice – Key offerings

• 12.6 Mehr Saffron
• Exhibit 132: Mehr Saffron – Overview
• Exhibit 133: Mehr Saffron – Product / Service
• Exhibit 134: Mehr Saffron – Key offerings

• 12.7 Organic Spices Inc.
• Exhibit 135: Organic Spices Inc. – Overview
• Exhibit 136: Organic Spices Inc. – Product / Service
• Exhibit 137: Organic Spices Inc. – Key offerings

• 12.8 Rumi Spice
• Exhibit 138: Rumi Spice – Overview
• Exhibit 139: Rumi Spice – Product / Service
• Exhibit 140: Rumi Spice – Key offerings

• 12.9 Safrante Specialty Foods S.A. 
• Exhibit 141: Safrante Specialty Foods S.A. – Overview
• Exhibit 142: Safrante Specialty Foods S.A. – Product / Service
• Exhibit 143: Safrante Specialty Foods S.A. – Key offerings

13 Appendix

• 13.2 Inclusions and exclusions checklist 
• Exhibit 144: Inclusions checklist
• Exhibit 145: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 146: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 147: Research methodology
• Exhibit 148: Validation techniques employed for market sizing
• Exhibit 149: Information sources

• 13.5 List of abbreviations 
• Exhibit 150: List of abbreviations 

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