In the report, titled “Saffron Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” Future Market Insights projects that rising demand for plant-based natural ingredients is driving the saffron consumption in these countries. Key findings in the report indicate that demand for saffron threads, in particular, is expected to be higher than other forms. In 2016, more than US$ 200 Mn worth of saffron threads were consumed across targeted countries. Demand for powdered saffron, however, is also gaining momentum, and is anticipated to register a value CAGR of 6.6% through 2026.
In 2015, the saffron market for target countries (Netherlands, Iran, U.S., U.K., Germany, France, Spain, China, Belgium, Luxembourg & Italy) was valued at nearly US$ 350 Mn which is expected to reach nearly US$ 480 Mn by 2021 end. The saffron market for target countries is expected to be valued at nearly US$ 620 Mn by the end of 2026, registering a CAGR of 5.3% over the forecast period. The market is estimated to represent incremental opportunity of nearly US$ 270 Mn between 2016 and 2026.
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Demand for saffron is high as it contains antioxidants such as zeaxanthin, lycopene, a- and ß-carotenes that protect humans from stress, cancers, infections, and also act as immune modulators. In addition it has many therapeutic applications which has increased its demand in the pharmaceutical industry. These properties of saffron are expected to drive market growth over the forecast period.
Key highlights from the report on saffron market for targeted countries include:
- Iran’s saffron market will expand at 5.7% CAGR, and register substantial growth in production of powdered saffron
- More than 90 Mn worth of saffron powder will be consumed in the US by the end of 2026
- In UK’s saffron market, medical & pharmaceutical industry will record revenue growth at 6% CAGR during forecast period
- Demand for saffron will be low in Germany as the country’s market is expected to be valued at just over US$ 4 Mn by 2026-end
- The saffron market in France, Spain, China, Luxemburg and Italy will exhibit growth at less than 3% CAGR
- Between 2016 and 2026, Netherlands’ saffron market will showcase an incremental opportunity of US$ 2 Mn
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The report also profiles leading manufacturers of saffron partaking in the markets across these targeted countries, namely, Safrante Global Company, SLU, Evolva, Rowhani Saffron Co., Hijos de Eustaquio Abad & Co. SL, Sara Nuts, Tarvand Saffron Co., USMS Saffron Co. Inc., Royal Saffron Company, Saharkhiz International Group Companies, Gohar Saffron, Novin Saffron Co., and Azafranes Machegos SL.
By End Use
- Food Service
- Culinary Products
- Dairy Products
- Medical & Pharmaceuticals
- Skin Care
- Hair Care
- Flavouring & Spice
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Table Of Content:
1. Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Market Taxonomy
5. Saffron Market For Target Countries Analysis & Forecast
6. Market Dynamics
7. Industry Value and Supply Chain Analysis
8. Counterfeit Saffron
9. Saffron Market For Target Countries Analysis and Forecast, By Form
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