Vancouver, Aug. 28, 2023 (GLOBE NEWSWIRE) — The world saffron market achieved a measurement of USD 588.1 million in 2022 and is projected to exhibit a income compound annual development fee (CAGR) of 6.0% all through the forecast interval, as per probably the most recent evaluation carried out by Emergen Research. A key driving issue behind the anticipated development in market income is the rising disposable incomes and evolving existence among the many world inhabitants. Notably acknowledged as the most expensive plant globally, saffron is also known as “crimson gold” because of its excessive worth. Despite its premium cost, saffron is thought for its easy cultivation course of. The saffron crop is characterised by its low labor necessities, with a harvesting interval lasting roughly three to 4 months. The plant can attain a peak of 15-20 cm throughout its development part. The continuous rise in saffron costs contributes to vital revenue potential for cultivators.
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Saffron is famous for its aphrodisiac results, significantly amongst people using antidepressants. To illustrate, males experiencing erectile dysfunction because of antidepressants noticed a big enhancement of their sexual efficiency, surpassing the placebo impact. This enchancment was seen after a four-week day by day consumption of 30 mg of saffron. Beyond its use in cosmetics and fragrances, saffron serves as a dye reagent in textiles and clothes. Furthermore, it holds substantial significance in dietary and medical functions. With its distinct taste profile and vibrant yellow and crimson hues, saffron has adorned meals and drinks for hundreds of years, whereas additionally discovering a spot in medicinal practices.
The medical realm harnesses saffron for its manifold advantages. It reveals anti-inflammatory, anti-depressant, and anti-cancer properties, contributing to general well-being. Additionally, it gives a supply of pleasure and aids in treating circumstances comparable to colds and coughs. The consumption of saffron induces a heat and nice sensation all through the physique, thereby aiding within the administration of a number of problems.
The world saffron trade is poised to expertise heightened income contributions and worth infusion, fueled by streamlined commerce and the appliance of superior advertising and branding methods inside particular person international locations. Enterprises engaged in re-export typically promote their merchandise as originating from middleman nations. However, Iranian saffron exporters encounter restrictions because of worldwide sanctions, impacting their entry to world markets. Barriers like steep import taxes curtail the direct export of Iranian saffron to international locations like India, China, and the USA. As a outcome, a good portion of saffron offered in areas like Spain, Afghanistan, and India is probably going repackaged Iranian saffron.
Nevertheless, the market confronts challenges comparable to elevated pricing, considerations concerning adulteration and counterfeiting, seasonal availability, and restricted manufacturing capability. These elements collectively inhibit the expansion of market income.
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Scope of Research
| Report Details | Outcome |
| Market measurement in 2022 | USD 588.1 Million |
| CAGR (2023–2032) | 6.0% |
| Revenue forecast to 2032 | USD 1,062.8 Million |
| Base 12 months for estimation | 2022 |
| Historical knowledge | 2019–2021 |
| Forecast interval | 2023–2032 |
| Quantitative items | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report protection | Revenue forecast, firm rating, aggressive panorama, development elements, and developments |
| Segments lined | product kind, distribution channel, type, grade, utility, end-use, and area |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.Ok., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key firms profiled | Esfedan Saffron Co., Saffron Business, Trond Saffron Qain Company, Mehr Saffron, Rowhani Saffron Co., Pharmactive, Tanmatra Ventures Private Limited, MOOOI, SoulTree, apisindia |
| Customization scope | 10 hours of free customization and professional session |
Major Companies and Competitive Landscape
The world saffron market is fragmented, with many firms accounting for almost all of market income. Major firms are deploying varied methods, getting into mergers & acquisitions, strategic agreements & contracts, growing, testing, and introducing simpler saffron. Some main firms included within the world saffron market report are:
- Esfedan Saffron Co.
- Saffron Business
- Trond Saffron Qain Company
- Mehr Saffron
- Rowhani Saffron Co.
- Pharmactive
- Tanmatra Ventures Private Limited
- MOOOI
- SoulTree
- apisindia
Strategic Development
- On 23 December 2022, the highest supplier of well being merchandise and superfoods in India, Rasayanam, unveiled Kashmiri Mongra Saffron Kesar. Saffron from Kashmir’s Mongra area is thought to be being of the best caliber obtainable. This costly spice is a invaluable culinary spice all around the world due to its benefits and therapeutic qualities. According to present research, saffron can be utilized as a diuretic, aphrodisiac, or carminative, and to set off menstruation.
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Some Key Highlights From the Report
- The kashmiri saffron (Lacha Saffron) section accounted for largest income share in 2022. Crocin, picrocrocin, and safranal are answerable for colour, taste, and fragrance of saffron. Kashmiri saffron is dearer than saffron from Iran or Spain and is famend throughout the globe owing to its extraordinarily excessive crocin content material and distinctive aroma.
- The eating places and family section accounted for largest income share in 2022. A wide range of dietary compounds, together with vitamin A, folic acid, riboflavin, niacin, and vitamin C, are present in saffron, a marvel of nature that helps individuals achieve internal and bodily power over time. Saffron is utilized in households for fuller and stronger hair, honest pores and skin, and good endurance along with being a last-resort remedy for illnesses in ayurveda.
- The Middle East and Africa market accounted for largest income share in 2022. Iran accounted for greater than 70% of the worldwide income share. The finest saffron that may be discovered elsewhere on the planet is incessantly thought to return from Iran.
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Emergen Research has segmented the worldwide saffron market on the idea of product kind, distribution channel, type, grade, utility, end-use, and area:
- Product Type Outlook (Revenue, USD Million; 2019–2032)
- All Red Saffron (Sargol)
- Cut Saffron (Pushal)
- Mongra Saffron
- Kashmiri Saffron (Lacha Saffron)
- Spanish Saffron
- Others
- Distribution Channel Outlook (Revenue, USD Million; 2019–2032)
- Form Outlook (Revenue, USD Million; 2019–2032)
- Liquid
- Powder
- Stigma
- Petals
- Others
- Grade Outlook (Revenue, USD Million; 2019–2032)
- Grade I
- Grade II
- Grade III
- Grade IV
- Application Outlook (Revenue, USD Million; 2019–2032)
- Pharmaceuticals and Traditional Medicines
- Cosmetics, Fragrances, and Personal Care Products
- Culinary Purposes and Food Supplements
- Herbal Teas and Infusions
- Food and Beverages
- Others
- End-Use Outlook (Revenue, USD Million; 2019–2032)
- Food & Beverages
- Restaurants and Household
- Healthcare and Pharmaceutical Industry
- Others
- Regional Outlook (Revenue, USD Million; 2019–2032)
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