Global Saffron Market 2017-2021
Saffron is obtained from the filaments of the flower Crocus sativus. The dried stigma of this flower finds various uses in the culinary, medicine, cosmetic, and other industries. The thread consists of active ingredients that impart properties such as color, taste, and aroma. The three main constituents of the dried stigma are crocin, picrocrocin, and the safranal. The intense yellow hue of saffron is due to the presence of crocin; and because of the color, saffron finds extensive usage in the Middle Eastern and Mediterranean cuisines and in dyeing woolen clothes and rugs.
Technavio’s analysts forecast the global saffron market to grow at a CAGR of 5.99% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global saffron market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Saffron Market 2017-2021
Technavio recognizes the following companies as the key players in the global saffron market: Gohar saffron, Iran Saffron, Rowhani Saffron, and Saffron Business.
Other Prominent Vendors in the market are: Grandor, HEA, King Kesariya, Wani Fruit Enterprises, SAFRANTE GLOBAL, shahri saffron, Taj Agro Products, and Great American Spice Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is new product formulations using saffron. The increasing awareness of the benefits of saffron has been leading to the rise in demand for new product formulations with saffron as an active ingredient. Saffron is used as an active ingredient in personal care and cosmetic products such as perfumes, face creams, and serums.”
According to the report, one driver in the market is product line extension of saffron in food and beverages sector. Owing to the flavor, taste, and color of saffron, it is used extensively as a flavoring agent in food and beverage products. Its health benefits, along with the ability to enhance the flavor of foods, have attracted manufacturers to use saffron in food and beverages. Saffron is widely used in beverages. For instance, the Indian subsidiary of Coca-Cola, in 2016, launched a range of flavored milk products under the name VIO, which has been well accepted by Indian consumers.
Further, the report states that one challenge in the market is fluctuations in prices owing to demand-supply gap. The decreasing amount of land under the cultivation of saffron and adverse weather conditions affecting saffron yield lead to variations in the prices of saffron. The health benefits of saffron and its many applications have been increasing the demand for saffron. However, the labor extensive extraction and processing of saffron flower has been contributing to the already-high cost of saffron. During 2015-2016, one gram of good quality saffron was priced around $65.
Gohar saffron, Iran Saffron, Rowhani Saffron, Saffron Business, Grandor, HEA, King Kesariya, Wani Fruit Enterprises, SAFRANTE GLOBAL, shahri saffron, Taj Agro Products, and Great American Spice Company.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook