Global Saffron Extract Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Saffron Extract Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Saffron is a perennial flower of the genus Crocus of the family Iridaceae. Saffron extract is a product extracted from the upper part and stigma of the Iridaceae Saffron style. The main components of saffron extract are picroscene, carotene compounds, safflower aldehyde, eucalyptol, pinene and other substances, as well as a small amount of isorhamnetin, kaempferol and vitamin B1 and vitamin B2.

Market Overview:

The latest research study on the global Saffron Extract market finds that the global Saffron Extract market reached a value of USD 554.53 million in 2022. It’s expected that the market will achieve USD 689.54 million by 2028, exhibiting a CAGR of 3.7% during the forecast period.

Government's response to COVID-19 is not yet fully mature

The novel coronavirus epidemic has spread to the whole world, and it has the characteristics of cross-administrative region and cross-geographical region. However, the research on emergency management of such cross-regional emergencies by various economic entities, including Saffron Extract practitioners, is not yet fully mature. Therefore, how to construct a high-efficiency mechanism to deal with regional emergencies according to the characteristics of different markets has become a major practical challenge for all economic entities, especially industry practitioners with the background of the international market to study and solve.

Product supply falls short of expectations

First of all, the epidemic prevention and control measures will affect the flow of people and activities, making the production of the saffron extract industry suffer due to the supply of raw materials and insufficient labor. Delays in resuming production and work will directly lead to inefficient operation. Second, during the epidemic, logistics is inconvenient, strict transportation control is implemented in each region, and the transportation speed is greatly slowed down, which affects the efficiency of supply.

Saffron Extract products have a wide range of applications, and the market demand space is large

The application field of Saffron Extract covers many fields such as medicine, health food, dietary supplement, cosmetics, food, etc. It has good application ductility and large market space. Moreover, with the improvement of scientific and technological level and the improvement of production process, the new applicable scenarios of Saffron Extract have been continuously extended, and the market demand space of Saffron Extract will also expand accordingly. In addition, Saffron Extract has natural properties, conforming to the concept of today's consumers returning to nature, pollution-free green products have huge development space and broad market prospects in the global market.

Raw material prices fluctuate

The raw materials of Saffron Extract are natural plants, not standardized industrial products. Therefore, there are certain differences in properties between plants in different regions and between different batches of natural plants in the same region, which affect production efficiency to varying degrees. In addition, natural plants have a wide range of uses. In addition to being used in Saffron Extract, there are other industry needs. In addition, there are differences in the growth cycle, geographical distribution and quality of natural plants. The purchase price shows a certain volatility. Therefore, with the market factors Constantly changing, Saffron Extract raw material prices are subject to fluctuation risks.

With the continuous improvement of the technical level, the product quality and supply guarantee ability have been continuously enhanced

The level of plant extraction process largely determines the quality and cost of the extract product. Process level is a key factor determining the competitiveness of natural plant extract products. Advanced extraction processes and equipment can not only greatly improve the quality of extract products, but also improve the utilization rate of raw materials, reduce raw material waste, and reduce production costs. With the continuous improvement of the technological level of Saffron Extract industry, the guarantee of product quality and supply capacity has been improved, which provides a solid foundation for the healthy development of Saffron Extract industry. Conducive to the development of Saffron Extract industry.

Region Overview:

In 2022, the share of the Saffron Extract market in Europe stood at 67.85%.

Company Overview:

Tarvand Saffron Co is one of the major players operating in the Saffron Extract market, holding a share of 5.1% in 2023.

Tarvand Saffron Co

Tarvand Saffron Company, a familial organization has been involved in production of saffron and barberry for generations.

Zargol Saffron

Zargol agriculture group supply pure saffron thread, saffron filament, saffron powder, saffron tea, saffron speray, saffron liquid, peeled pistachio, truffles, almond, barberry, barberry pulp.

Segmentation Overview:

Among different product types, Thread segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Food segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Saffron Extract market covered in Chapter 3:

Tarvand Saffron Co
Safrante Global Company SLU
Gohar Saffron
Novin Saffron Co.
Saharkhiz International Group Companies
Zargol Saffron
USMS Saffron Co.Inc
Azafranes Manchegos SL

In Chapter 4 and Chapter 14.2, on the basis of types, the Saffron Extract market from 2018 to 2029 is primarily split into:

Thread
Powder
Liquid

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Saffron Extract market from 2018 to 2029 covers:

Food
Medical & Pharmaceuticals
Cosmetics
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)