Dublin, March 06, 2024 (GLOBE NEWSWIRE) -- The "Saffron Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The Global Saffron Market, renowned for its highly valued spice derived from the Crocus sativus flower, shows no signs of slowing down as it expands with a compound annual growth rate (CAGR) of 6.5% through the year 2028. As consumer preferences evolve towards natural and organic products, saffron has gained momentum as a superfood and is carving out a significant niche in various sectors, including the burgeoning nutraceutical market.
The North American region has risen as a robust force in the escalating worldwide saffron demand, thanks to its multicultural fabric and burgeoning interest in global cuisine. The saffron market is further propelled by the spice's revered medicinal properties, particularly its antioxidant, anti-inflammatory, and mood-enhancing benefits which align with the current health and wellness movement.
The market revolves around three main forms: thread, powder, and liquid, with thread saffron, noted for purity and potency, currently leading the demand. The food industry remains the largest application segment where the spice is utilized for its distinctive taste and aroma. Meanwhile, medical and cosmetic applications continue to grow, fueled by saffron's health and skincare benefits.
Another critical aspect of the market evolution is the distribution channels, which have witnessed a significant shift towards direct sales. With the advent of online retail and e-commerce, consumers are increasingly opting to purchase saffron through digital platforms that offer a plethora of choices in terms of grades and varieties.
Segmental Insights:
- Form Insights: The thread form of saffron remains at the forefront, celebrated for its quality in a myriad of high-end and specialty culinary preparations.
- Distribution Channel Insights: Direct sales have burgeoned, offering consumers unparalleled transparency and access to a wider array of saffron products.
- Application Insights: The spice's prominence in culinary applications continues, with expanding utilization within the medical and cosmetics sectors.
- Regional Insights: North America emerges as a pivotal growth area, complementing the traditionally strong markets in the Middle East, Asia, and Europe.
With the saffron market's current trajectory, stakeholders are poised to benefit from the continued success of this prized spice, provided they navigate the inherent challenges of climate sensitivity, labor intensity, adulteration risks, price volatility, and market competition.
The trend toward premium, sustainable, and ethically-produced saffron signifies the evolving nature of the market and consumer desires. As the industry meets these demands, saffron's role extends into the fields of artisanal foods, health and wellness products, beauty, and personal care, illustrating its versatile appeal and sustained market relevance.
Amidst these developments, the global saffron market report offers a comprehensive analysis, providing industry stakeholders with valuable insights into the current and future market dynamics.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $590.21 Million |
| Forecasted Market Value (USD) by 2028 | $858.25 Million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Saffron Market has been segmented into the following categories:
Saffron Market, By Form:
- Thread
- Powder
- Liquid
Saffron Market, By Application:
- Food
- Medical
- Cosmetics
- Others
Saffron Market, By Distribution Channel:
- Direct Sales
- Indirect Sales
Companies Profiled
- Esfedan Trading Company
- Tarvand Saffron Co.
- Saffron Business Company
- Safran Global Company S.L.U.
- Mehr Saffron
- Flora Saffron
- Gohar Saffron
- Rowhani Saffron Co.
- Royal Saffron Company
- Iran Saffron company
For more information about this report visit https://www.researchandmarkets.com/r/ikxv2v
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