The saffron market is projected to grow at a CAGR of 10.8% and is estimated to reach $480 million in revenue in 2022 and $804.4 million in breach by the end of 2032, analysis by Future Market Insights Inc.

The North American saffron market is projected to grow at a CAGR of 6.8% between 2022 and 2032. China’s saffron market is projected to grow at a CAGR of approximately 7.5% over the next ten years. The saffron slicer market in Germany is projected to grow at a CAGR of approximately 7.3% over the next ten years.

NEWARK, Del., Nov. 23, 2022 /PRNewswire/ — The global saffron market is projected to create lucrative growth opportunities by registering a CAGR of approximately 10.8% throughout the projection period 2022 to 2032. The global market is projected to grow from 480 million US dollars in 2022 y US$804.4 million by 2032. The wire segment is expected to have a 65.4% share by the end of 2022.

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The powder rating is expected to have a value share of 44.3% by the end of 2022. The liquid segment is expected to have a value share of approximately 6.3% by the end of 2022. By 2022, sales growth of the associated segment could be braked due to a lack of liquid objects.

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By the end of 2022, the wire segment is expected to account for a total share of 60.4%. The wire segment is projected to remain dominant in market share by 2032, while being worth losing around 500 BPS by that year. The powders segment is forecast to represent 38.6% in value by the end of 2016, gain 510 basis points over the forecast period, and to gain 43.7% in value by the end of 2026.

Saffron is used as a potent element in the food and beverage industry. It also includes various medical applications that are expected to support revenue growth in the segment. The liquids segment is estimated to account for 5.6% value share by the end of 2022. This segment is expected to lose 100 basis points ongoing.

Key points

  • The energy segment includes an above-average CAGR attributed to higher quarterly revenues. The Threads segment is expected to register a CAGR of 5.4% based on revenue throughout the forecast period. The liquid segment also shows promising growth prospects over the forecast period registering a total CAGR of 3%. Limited availability of products in liquid form could curb market growth in the indicated segment during the forecast period.

  • The market value of saffron in Iran it was approx 330 million dollars in 2021 and is expected to reach more than 500 million dollars when you reach 2026. The saffron market in Iran should be evaluated further 600 million dollars by the end of 2032, equal to a CAGR of 5.7%. At the saffron market Iranexperts predict a near opportunity 17 billion dollars in 2022 beyond 2021 and update for an expected incremental opportunity of approx $200 million between 2022 and 2032.

  • The large-scale production of fake saffron has impacted the growth of the saffron market. Retailers are expected to attempt to sell counterfeit saffron at a significant energy price, with negative consequences for the entire industry. Counterfeit saffron companies threaten consumer confidence in the industry. Furthermore, the market has little legitimacy, which will likely limit the enforcement of restrictive laws to control the flow of counterfeit saffron into the market. This is likely to dampen market growth over the forecast period.

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Competitive landscape

The global saffron market is highly fragmented and competitive due to the existence of multiple local and regional rivals. The dominant players in the market are focusing on employing a wide range of marketing strategies such as partnerships, expansions, mergers and acquisitions, and collaborations.

Learn more about the saffron market

Growing demand for saffron-infused foods and beverages, cosmetics, and pharmaceuticals is expected to drive the growth of the U.S. saffron market. In addition to saffron’s growing popularity as a natural colorant, it is expected to contribute to market growth during the evaluation period.

India it is yet another country that is expected to support the growth of the global saffron market as it is considered one of the most vital and costly spice by weight. Saffron has gained immense popularity in developing countries like India which led to a thriving spice market. Most of India’s saffron is grown Kashmirwith other major growing regions including Himachal Pradesh, Uttarakhand and Jammu.

Saffron market by category

By shape, the saffron market is divided as:

By end use, the saffron market is segmented as:

By function, the saffron market is split as:

  • Aroma and spice

  • herbs

  • Other

In the saffron market China it is also thriving during the showing period because the Chinese have a long history of using this spice in their cuisine and it is an important part of many traditional dishes. The saffron market in China it is growing rapidly as more and more people realize its benefits and unique flavor.

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Table of contents

1. Executive summary

1.1. Global market prospects
1.2. Demand-side trends
1.3. Supply-side trends
1.4. Technology roadmap analysis
1.5. Analysis and recommendations

2. Market overview

2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations

3. Market context

3.1. Market dynamics
3.1.1. Drivers
3.1.2. Restrictions
3.1.3. Chance
3.1.4. trends

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About Future Market Insights, Inc.

Future Market Insight Inc. is an ESOMAR certified market research and business consultancy, a member of the Big New York Chamber of Commerce and is based in Delaware, USA. Winner of the 2022 Clutch Leaders Award based on a high customer rating (4.9/5), we’ve partnered with global companies on their business transformation journey and helped them realize their business ambitions. 80% of the largest Forbes 1000 companies are our customers. We serve global clients in all leading and niche market segments across all major industries.

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