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

Global Saffron 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. The dried thread-like parts of the flower (stigmas) are used to make saffron spice, food coloring, and medicine. Saffron is largely cultivated in Iran and harvested by hand. It's one of the world's most expensive spices.

Market Overview:

The latest research study on the global Saffron market finds that the global Saffron market reached a value of USD 651.34 million in 2022. It’s expected that the market will achieve USD 757.57 million by 2028, exhibiting a CAGR of 2.55% during the forecast period.

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

The application field of Saffron 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 technology level and production process, the new applicable scenarios of Saffron are also continuously extended, and the market demand space of Saffron will also expand accordingly. In addition, Saffron 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.

Saffron counterfeiting problem

Saffron is an ancient medicinal plant that is worth more than gold by weight. The extraordinary value of saffron makes it more susceptible to counterfeiting and adulteration than any other food in the world. At present, there are a large number of unscrupulous merchants selling fake saffron on the market. The main methods of counterfeiting include dyeing, impersonating other stamens, and mixing fake flowers into real saffron. Such as, Europol supported the Spanish authorities in targeting an organised crime group laundering millions of euros of illegal profits coming from the trafficking of substandard saffron. The criminal network mixed real saffron with herbs and chemicals to increase their margins before exporting it. More than 500 shipments of this adulterated saffron have been identified, worth an estimated amount of 10 million. These issues will have a negative impact on the saffron market.

Region Overview:

In 2022, the share of the Saffron market in Europe stood at 33.63%.

Company Overview:

Esfedan Trading Company is one of the major players operating in the Saffron market, holding a share of 7.59% in 2022.

Esfedan Trading Company

Esfedan is a leading company in producing high-quality saffron since 1975. Esfedan also provide saffron-based products like Saffron Rock Candy, Saffron Jelly Powder, Saffron Cake Powder, and Saffron Herbal Tea.

Gohar saffron

Gohar Saffron Co. is the premier saffron Exporter in Iran. Gohar Saffron extended its product to fresh Dates, Raisin, Barberry, Watermelon Seeds, and Dried limes in 2013.

Segmentation Overview:

By type, Thread Form segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Retail, with a market share of 40.51% in 2022.

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

Rowhani Saffron
Azafranes Manchegos, S.L
Wani Fruit Enterprises
Novin Saffron
Mostafavi Saffron CO.
Saffron Business
Gohar saffron
HEA&CO
SAFRANTE GLOBAL
Tarvand
Esfedan Trading Company
Krokos-Kozani

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

Thread Form
Powder Form
Liquid Form

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

Retail
Food Service (Restaurants, Hotels etc)
Medical & Pharmaceuticals
Nutritional Supplements
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)