The global saffron market is expected to
reach USD 2.0 billion by 2025, according to a new report by Grand View
Research, Inc. Rising product use in food applications as a flavoring and
coloring agent will augment growth over the next nine years.
The product is being employed in
medical applications to treat dry skin, cough, and asthma. Rising demand from
the pharmaceutical sector on account of its antioxidant, anti-inflammatory,
anti-tumor, and anti-diabetic properties is expected to have a positive impact
on the industry. Growing popularity as an herbal health supplement is expected
to propel product growth over the next nine years.
Rising product use in the
treatment of acne, tan removal, and other skin related issues, is expected to
fuel its need in the manufacturing of skin care products which in turn will
fuel demand.
Increasing product use in textile
and paint applications on account of properties such as oriental fragrance,
natural color dyeing, and replacement of chemical color pigment respectively
will propel industry development. Expansion of the perfume sector in Middle
East & Africa and Asia Pacific is expected to propel product need over the
next nine years.
The saffron market is a labor
intensive sector along with specific agro-climatic condition requirements,
which imply high production costs which in turn impact product prices. This
factor may restrain industry development over the forecast period.
Browse full research report on Global
Saffron Market: http://www.grandviewresearch.com/industry-analysis/saffron-market
Further key findings from the report suggest
- The market is expected to grow at a CAGR of 12.0% from 2016 to 2025 on account of increasing use in the food sector
- Food as an application of the product will witness the fastest growth in terms of revenue at a CAGR of over 13% from 2016 to 2024 owing to its flavoring and coloring properties
- Europe market is expected to witness significant development and was estimated at over USD 250 million in 2015 on account of rising demand from the food and healthcare sector
- Key participants include Gohar, Rowhani., Iran Saffron Company, and Saffron Business Co.
- Key companies are focused on increasing their global presence through the integration of supply chain.
- In January 2017, Rowhani revised its product manufacturing schedule to implement mechanization and use scientific research to enhance product quality
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/food-additives-nutricosmetics-flavors-and-fragrances
Grand View Research has segmented
the global saffron market on the basis of application and region:
Saffron Application Outlook (Volume, Tons; Revenue, USD
Million, 2014 - 2025)
- Food
- Medical
- Cosmetics
- Others
Saffron Regional Outlook (Volume, Tons, Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Italy
- Spain
- Asia Pacific
- China
- India
- South & Central America
- Brazil
- Middle East & Africa
- Iran
- UAE
- Saudi Arabia
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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