Organic Saffron Market Research Report Trends & Detailed Information By Product Type (Thread, Powder & Liquid), Distribution Channel [Store-Based (Supermarkets & Hypermarkets, Convenience Stores, and others) and Non-Store-Based] and Region (North America, Europe, Asia-Pacific, and Rest of the World): Competitive Market Growth, Size, Share, and Forecast to 2030
New York, USA, Jan. 24, 2023 (GLOBE NEWSWIRE) — Organic Saffron Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), Organic Saffron Market Information by Product Type, Distribution Channel and Region – Forecast until 2030”, The organic saffron market can anticipate expanding at a healthy rate of 6.7% between 2022 and 2030, reaching USD 419.45 million by 2030.
An aromatic spice with a reddish hue, organic saffron is made from the fiber of the flower petals of Crocus sativus. Since ancient times, saffron has been used in the kitchen to make a wide range of foods and drinks. Saffron is a genuinely rare spice because it costs more than gold. The antioxidants included in it can help reduce the risk of cancer, diabetes, and heart problems.
The main drivers for the expansion of the organic saffron market are the growing demand for organic saffron and the increasing acceptance of it by the beauty industry. Other important causes include the increase in personal disposable income, the increasing use of organic saffron by the food industry and additives as a seasoning or flavoring agent, and the growing health awareness of consumers, particularly in developing countries. .
Manufacturers are also turning their focus towards e-commerce channels, partnering with retailers to foster their online presence. Most are focused on digitalization, to generate excitement among consumers and achieve lucrative results.
Iran produces 76% of the world’s saffron, making it the world’s largest producer, the report claims. Around 300 tons of saffron are produced worldwide every year, and it is considered the most expensive spice in the world.
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Scope of the report:
Market size in 2030
Value (millions of USD)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
by product type, distribution channel and region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Raise consumer health awareness
growing application of organic saffron in food trade and additives as seasoning or flavoring agent
Market Competitive Landscape:
The wealthy companies in the organic saffron market are
More Saffron (Iran),
Rowhani Saffron Co. (Iran),
Spicely Organics (USA),
Frontier Organics Cooperative. (Norway),
Valdosta SL (Spain),
Epicure Garden (United States),
Alpen Food Group BV (Netherlands),
Tatva Health & Wellness Private Limited (India),
Organic India, Inc. (India),
Noor brand saffron (India)
The small number of active competitors in the world market is its defining characteristic. Middle Eastern nations account for the majority of production. The market offers a lot of space for start-up and start-up companies, which need widespread support throughout the value chain. Both established and emerging market participants have placed more emphasis on strong brand management to enhance various distinctive aspects such as portfolio diversity, multiple packaging styles including premium packaging, and competitive pricing.
Explore In-Depth Market Research Report (110 Pages) On Organic Saffron:
Increased demand for organic saffron in cosmetic and medicinal applications is anticipated to be a major market driver over the course of the forecast period. Saffron has many health benefits and is rich in antioxidants. Picrocrocin, safranal, and crocin are the three main active ingredients found in saffron. These substances help reduce inflammation and oxidative brain damage. Saffron is also believed to improve memory and have anti-inflammatory and antioxidant qualities, which will undoubtedly promote market expansion. In the cosmetic sector, it is also used as a natural ingredient that absorbs UV rays.
As people have become more aware of the therapeutic capabilities and health advantages of saffron, the demand has increased in the United States. After the US lifted trade restrictions on imports from Iran, trade between Iran and the US increased significantly. American farmers are putting more money into the crop. Growers in places like Vermont, Pennsylvania, and Washington have worked to improve the national supply of the products at a reasonable price.
Due to lax rules and affordable production, the global market presents only modest barriers to entry from a competitive perspective. The market is growing because large companies often do research and development.
On the other hand, the high cost of organic saffron compared to conventional saffron will pose a substantial challenge to the growth of the market in the long term due to the depreciation of the value of the product at a slow rate, which will also slow down the expansion rate of the market. market. .
The COVID-19 pandemic had a significant negative impact on the global health situation. There is a connection between the aftermath and the tremendous social and economic burden weighing on people everywhere. As big policymakers implement new frameworks and industries embrace cutting-edge expansion methods to stay relevant, people face a variety of mental traumas.
Globally, the rise in cases has led to mental and financial problems, particularly for the elderly. Additionally, the younger population has been dealing with difficulties as a result of job loss and is turning to family care to cope with the effects. The development of a vaccine for COVID-19 is the main area of concentration, diverting attention from other markets.
To ensure well-being, the demand for healthy products has increased significantly, such as saffron. In the long run, this should greatly help the global industry.
By product type
Thread, Liquid and Powder are the types of products available in the world market.
By Distribution Channel
Distribution channels are store-based (supermarkets and hypermarkets, along with convenience stores) as well as non-store-based.
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With the largest share of revenue in the world market, Asia Pacific is in the lead. China and India are two of the main consumers in Asia Pacific, with India being the main producer in the region. Saffron is one of the most prized spices in these nations due to its historical importance in both food and medicine. Due to its unique flavor and color, Kashmiri saffron from India is in high demand all over the world. The main destinations for its exports are China, Australia, Japan, the United States, Germany and some South Asian nations.
Due to their significant competitive advantages in processing, packaging and branding, some members of the European Union are an important market for re-exports. These importers are constantly striving for larger quantities of a high-quality product, as the value-added gains they generate from re-exports are considerable. Re-exports from European nations are expected to increase, which would likely boost Europe’s market share in international business.
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