Global Saffron Market Is Expanding Due To Rising Popularity Of Premium Products And High Demand For High-Quality Saffron

 

Overview:

Saffron is a highly aromatic herb that can be found in the Middle East. It is a great spice that adds color and flavor to food. It can be used to make a variety of dishes. It is often added to rice or seafood. It has a special aroma that pairs well with grains and seafood. Saffron is often considered a natural aphrodisiac. Among the other benefits of saffron are its antioxidant properties. The saffron plant has a number of antioxidant plant compounds that may help protect against oxidative stress, which can lead to cancer. Saffron is also thought to have anti-inflammatory properties. One of its main constituents, crocin, is believed to have potent anti-tumor properties. Another antioxidant compound, safranal, has been shown to have anti-hyperlipidemic properties. Saffron has been used in traditional medicine as a dye for cloth. There are some people who use it as a complementary therapy.

Market Dynamics:

Rising product launches is estimated to augment growth of the global Saffron Market during the forecast period. For instance, SoulTree, a leading Luxury Ayurvedic beauty and wellness brand introduced Advanced Kumkumadi in June 2022. This is India’s first range made with 100% pure Organic Mogra Saffron. Moreover, increasing cost of saffron is anticipated to restrain growth of the global saffron market during the forecast period.

Impact of COVID-19:

The pandemic was first reported in 2019 in China. The pandemic resulted in imposition of strict lockdowns in many regions. Saffron Market restrictions led to shutting down of manufacturing units and also hampered distribution of products. Many supply chains were disrupted owing to travel restrictions imposed in many countries. Import and export of saffron was also hampered due to these restrictions. This restrained the growth of the global saffron market, during the pandemic. Another factor that affected the growth of the market was increased demand for processed food items. Saffron Market  led to decrease in demand for natural and pure products like saffron.

Key Takeaways:

The global saffron market is expected to witness high growth, exhibiting CAGR of XX% over the forecast period, due to growing expansion by major players. For instance, Apis India declared the expansion of their product portfolio in December 2020, be the addition of Apis Saffron. The product is 100 per cent natural, pure, and has high nutrition and medicinal value.

Asia Pacific is anticipated to witness significant growth in the global saffron market over the forecast period, owing to increasing demand for spice and the traditional importance of saffron.

Major players operating in the global saffron market are Iran Saffron Company, Esfedan Trading Company, Tarvand Saffron Co., Gohar Saffron, Safran Global Company S.L.U., Saffron Business Company, Flora Saffron, Rowhani Saffron Co., Royal Saffron Company, and Mehr Saffron.