Industry Background:
Saffron powder is a red coloured dried stigma extracted from the Crocus Sativus Linnaeus plant. Saffron powder constitutes three significant components, namely, Picrocrocine, Safranal, and Crocine, which are responsible for the bitterness, colour, and aroma of saffron extract, respectively. In the food industry, the saffron powder is used as a food colouring and flavouring agent, as it gives a passionate yellow colour to the food product, and adds a pleasing aroma and flavour to too. Apart from its application in the food industry, saffron powder has wide application in medicines and pharmaceuticals for preventing and curing illness. Saffron powder or its extract acts as an antitumor and antimutagen agent and treats painful conditions such as kidney pain, stomach pain, and menstrual pain. Geographically, the Asia Pacific region is leading for higher consumption and production for saffron powder products to the wide application and organic product for the health-conscious consumers.
According to AMA Research, the market for Saffron Powder is expected to register a CAGR of 20.3% during the forecast period to 2030. This growth is primarily driven by Increase number of conscious consumer-preferred organic saffron powder.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | Kg |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Keva Flavours Pvt. Ltd (India), Spice Mountain LTD (United Kingdom), Roland Foods, LLC (United States), ZARAN SAFFRON (United States), Great American Spice Company (United States), The Spruce Eats (United States), ABK (India), Persian Saffron (Iran), Royal Saffron Company (India), Amrut International (India), Natac Group (Spain) and Others, etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2022 Natac Group announced the acquisition of INOREAL. With the acquisition, Natac will be able to offer its clients branded ingredients that are backed by scientific research that shows they can promote bodyweight management and mental wellbeing. Crocus sativus L., sometimes known as saffron, is a popularly used premium plant in cooking. Recent research suggest that it may have anti-obesity, anti-depressant, anti-inflammatory, and antioxidant effects, as well as help with visual and sexual functioning. However, it has also been demonstrated to offer major health benefits.
In March 2022 Sativus Tech Corp had annunced the partnership with Naveh Pharma. With consumers continuing to explore for natural remedies for diseases like depression and inflammation, the strategic joint venture is anticipated to drive growth for both businesses in the quickly expanding nutraceutical sector. The collaboration produces undeniable value for both businesses and their shareholders by fostering a synergy where Saffron Tech would supply Naveh Pharma's saffron-based products. The joint venture intends to create and market a line of saffron-based food supplements around the world in 2022, as well as introduce a brand of saffron-based cosmetics in the second half of the same year.The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in Food and Beverage Industry. It is widely used as a flavoring agent in food. Several companies local and international as well manufacturers and suppler are operating in the market to provide customers with various unique offering products and prices. The market is a highly consolidated market with the presence of fewer manufacturers which is another factor hampering market growth over the forecast period but the demand in the market for saffron products has a wide application that is triggering the market growth in the upcoming year.
Influencing Trend:
Huge demand for the market in the perfumes industry
Market Growth Drivers:
Increase number of conscious consumer-preferred organic saffron powder
Challenges:
Large amount manufacturing cost
Restraints:
a large number of the local player is manufacturing artificial saffron powder
Opportunities:
Saffron powder has huge demand in regions such as the Asia Pacific and Western Europe due to the immense popularity of saffron spice as a food coloring and flavoring agent
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Saffron Powder Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Saffron Powder Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Saffron Powder players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Saffron Powder Study Sheds Light on
The Saffron Powder Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Saffron Powder industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Saffron Powder industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.