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.
U.S. saffron market revenue, by application, 2014 - 2025 (USD Million) |
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 Saffron Market: www.grandviewresearch.com/industry-analysis/saffron-market
Further key
findings from the study 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: 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
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-saffron-market
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.
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