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Saffron Market Trends

Report ID: GMI6947
Published Date: Oct 2023
Report Format: PDF

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Saffron Market Trends

The growing popularity of saffron-infused gourmet and artisanal foods, as well as craft beverages, reflects an increasing appreciation for its unique flavor profile and vibrant color. Additionally, saffron is gaining traction in the cosmetic and skincare industry for its antioxidant and anti-inflammatory properties, further diversifying its applications beyond culinary uses. Sustainable and ethical sourcing practices are also becoming crucial considerations, as consumers and businesses prioritize responsible production and fair trade in the saffron supply chain.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of saffron was worth USD 1.16 billion in 2023 and is set to reach USD 1.66 billion by the end of 2032, due to increasing awareness of its numerous health benefits.

Demand for grade II saffron recorded USD 452.2 million in 2022, owing to its rising popularity in both home cooking and commercial use.

The thread form segment held around 65% revenue share of the saffron market in 2022, attributed to benefits, such as purity and authenticity.

Some of the major saffron providers are Iran Saffron Company, Tarvand Saffron Co., Gohar Saffron, Novin Saffron, Hebei Xingchen Biological Technology Co., Ltd., Saffron Business Co., and Saharkhiz Saffron Co.