Introduction:

Saffron Market was valued at US$ 707.1 Million in 2024 and is projected to grow at a CAGR of 7.20% to reach US$ 1334.9 Million by 2034.

Saffron is a spice that is made from the dried stigmas of the saffron plant. It is derived from the flower of Crocus sativus also known as saffron crocus. It is considered as the most expensive spice of the world as cultivation and harvesting of saffron requires a large amount of labor work as it completely done by hand. In food, saffron is used as spice, yellow food coloring and flavoring agents as it tastes sweet and grassy. In product manufacturing, saffron is used as fragrance to manufacture perfumes or dyes. Saffron is used as medicine for treatment of asthma, whooping cough, cancer, insomnia, atherosclerosis, hemoptysis, heat burn, depression, etc.Saffron is a spice that is made from the dried stigmas of the saffron plant. It is derived from the flower of Crocus sativus also known as saffron crocus. It is considered as the most expensive spice of the world as cultivation and harvesting of saffron requires a large amount of labor work as it completely done by hand. In food, saffron is used as spice, yellow food coloring and flavoring agents as it tastes sweet and grassy. In product manufacturing, saffron is used as fragrance to manufacture perfumes or dyes. Saffron is used as medicine for treatment of asthma, whooping cough, cancer, insomnia, atherosclerosis, hemoptysis, heat burn, depression, etc. The Saffron market accounted for US$ 707.1 Million in 2024 and is estimated to be US$ 1334.9 Million by 2034 and is anticipated to register a CAGR of 7.20%.

Increasing Demand for Saffron in Food Sector

There is an increasing demand for saffron in food sector due to a high preference for natural coloring and flavoring agents which is a major factor expected to drive the growth of the  saffron market. Moreover, rising demand for saffron based natural medicines which has anti-tumor, anti-depressant, antioxidant and also anti-asthma properties and it use in treatment of diseases such as Alzheimer’s, depression, asthma, insomnia, and cancer, foster the saffron market. For instance, according to World Health Organization, in March 2018, globally, more than 300 million individuals of all ages suffer from depression which is the leading cause of disability over the , and is therefore a major contributor to the overall global burden of disease. In addition, increased awareness of use of saffron in improving the skin conditions and make it more radiant by treating acne, dullness and dryness has also flourished the saffron market. Additionally, increased use of saffron in cosmetics due to its natural medicinal properties is another factor expected to drive the growth of the saffron market in the near future. For instance, according to World Traditional Medicine Strategy 2014, the number of states attributed to implementation of WHO traditional medicine strategy have been increasing rapidly which was up to 119 states in 2012. However, the high cost of saffron and lack of supply chain is expected to restrain the growth of the saffron market over the forecast period. Moreover, it takes around 75,000 blooms to produce a single pound of saffron, hence it takes a large amount of time for the production which may restrain the growth of the target market. In addition, availability of artificially colored forged saffron in the market will also affect the growth of the target market. Newer strategies for the growth of the saffron plant is the major trend in the growth of the saffron market.

Saffron market is segmented based on form, application, and region.

On the basis of form, the target market is divided into liquid, thread and powder. On the basis of application, the saffron market is divided into food & beverage, cosmetics, medicine and textile.

Regional Insights:

The Saffron market accounted for US$ 707.1 Million in 2024 and is estimated to be US$ 1334.9 Million by 2034 and is anticipated to register a CAGR of 7.20%.On region the Saffron market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2023, The Asia Pacific region has the largest share in the revenue followed by the other regions and expected to maintain its position over the forecast period. This is mainly due to higher production of saffron in countries like India and Iran and use of saffron in many traditional recipes. Further, growing use of saffron for its medicinal properties will also probably boost the growth of the saffron market in this region. Europe market is expected to have a significant growth rate to the saffron market over the forecast period due to increased use of saffron in the food industry, especially deserts and sweet products.

Report Scope:

Attribute	Details
Base year for estimation	2023
Forecast period	2024 – 2034
Market representation	Revenue in USD Million & CAGR from 2024 – 2034
Market Segmentation	By Form - Liquid, Thread and Powder By Application– Food & Beverage, Cosmetics, Medicine and Textile
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Saffron market report based on form, application and region.

Saffron Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

Few Other Promising Reports:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the saffron market includes Gohar Saffron, Iran Saffron, Safrante Global Company, Evolva, Rowhani Saffron Co., Tarvand Saffron Co., Baby Brand Saffron, Royal Saffron Co., Novin Saffron, Hijos de Eustanquio Abad & Co. SL. Established and emerging market participants have been concentrating more on strong brand management in order to improve various differentiating elements such as portfolio diversity, varied package styles, including premium packaging, and competitive pricing.

Recent Development:

• In October 2023, Himalayan, from the House of Tata Consumer Products Limited (TCPL) announced its entry into the premium Kashmiri Saffron segment. This launch is in line with the Company’s focus on expanding into new categories with differentiated products with strong quality credentials. With the launch of Grade 1, 100% pure Kashmiri saffron, the brand Himalayan is extending its existing product portfolio comprising of Natural Mineral water, Honey, and Fruit Spreads into this new category. Himalayan is directly sourcing the Grade 1 Kashmiri saffron, recognized for its purity and quality, from the picturesque valleys of Kashmir.

• Gohar Saffron*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Iran Saffron
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Safrante Global Company
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Evolva
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Rowhani Saffron Co.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Tarvand Saffron Co.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Baby Brand Saffron
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Royal Saffron Co.
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Novin Saffron
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies
• Hijos de Eustanquio Abad & Co. SL
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

1. Research Objective and Assumption
   • Preface
   • Research Objectives
   • Study Scope
   • Years Considered for the study
   • Assumptions
   • Abbreviations
2. Research Methodology
   • Research data
   • Primary Data
     • Primary Interviews
     • Primary Breakdown
     • Key data from Primary Sources
     • Key Thickness Insights
   • Secondary Data
     • Major Secondary Sources
     • Secondary Sources
   • Market Estimation
   • Top-Down Approach
     • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
   • Bottom-Up Approach
     • Approach for estimating market share by Bottom-up Analysis (Demand Side)
   • Market Breakdown and Data Triangulation
   • Research Assumptions
   • PORTER’s
   • Investment Outlook
3. Market Preview
   • Executive Summary
   • Key Findings—Global Outlook for Saffron Strategies
     • Key Questions this Study will Answer
       • By Form (Liquid, Thread and Powder)
       • By Application (Food & Beverage, Cosmetics, Medicine and Textile)
       • By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
   • Opportunity Map Analysis
   • Executive Summary—3 Big Predictions
4. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
     • Market Trends
   • DR Impact Analysis
   • PEST Analysis
   • Porter’s Five Forces Analysis
   • Opportunity Orbit
   • Overview
   • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2024 — 2034
   • Y-o-Y Growth Analysis (%), 2024 — 2034
   • Regional Trends
   • Market Investment Feasibility Index
   • Macroeconomic Factor Analysis
5. Regional Analysis
   • Regional Revenue Analysis
   • Regional By segment Analysis
   • Reasons for regional growth
   • Key Player of particular region
   • Countries Include in the report:
     • North America (U.S., Canada)
     • Europe (UK, France, Germany, Russia, Italy, Rest of Europe)
     • Asia Pacific (India, Japan, South Korea, China, Rest of Asia Pacific)
     • Latin America (Brazil, Mexico, Rest of Latin America)
     • Middle East & Africa (GCC, Israel, South Africa, Rest of Middle East)
6. Competitive Landscape
   • Heat Map Analysis
   • Market Presence and Specificity Analysis
   • Competitive Overview
   • Competitive Benchmarking
   • Market Share Analysis
   • Key Developments In The Saffron Market
   • Key Developments: Mergers & Acquisitions
   • Key Developments: Collaboration
   • Key Developments: Contracts & Agreements
   • Key Developments: Expansion
   • Key Developments: Product Developments
7. Company Profiles
8. Company Overview
9. Product Portfolio
10. Key Highlights
11. Financial Performance
12. Business Strategies
13. SWOT Analysis
    • Gohar Saffron
    • Iran Saffron
    • Safrante Global Company
    • Evolva, Rowhani Saffron Co.
    • Tarvand Saffron Co.
    • Baby Brand Saffron
    • Royal Saffron Co.
    • Novin Saffron
    • Hijos de Eustanquio Abad & Co. SL.
14. The Last Word
    • Future Impact
    • About Us
    • Contact