Saffron Market Dynamics 2021-2031
Saffron is a spice which is extracted from a flower known as saffron crocus. It is considered to be the world's costliest spice which is rich in flavor, aroma, taste, and is healthy for consumption. The reason for its hefty price is the intensive harvesting method. The buds of the flower get developed into a full fledge flowers in the fall. Each of these flowers have three threadlike thing in the center. These must be removed very carefully by hand and dried accordingly. More than 80,000 of this flowers must be grown, cared, and hand-harvested and processed in order to make one pound of saffron. According to a research study, today, Spain is the largest producer of saffron in the world. It is used as coloring agent and flavoring agent and for aroma in the food and beverage industry.
MARKET DYNAMICS
The saffron market has observed an increasing value in the graph chart due to its application in the food & beverages, cosmetics & personal care, and pharmaceutical industry. It is used in many ways in the food and beverages industry such as flavoring agent and coloring agent. Saffron is used by the food manufacturers to enhance the aroma, taste, and flavor in food items and beverages. Saffron possesses properties including cancer reduction, antioxidant, maintains good cholesterol level, helps in lowering coronary heart disease, and maintaining normal blood pressure. Due to these properties consumers prefer to have food items and beverages flavored with saffron, which in turn is driving this market. However, saffron is one of the most costly spice in the market and the reason for its expensive nature is the intensive harvesting method which may hamper the market growth in the upcoming years. The global saffron market is witnessing a growing trend in the usage of saffron in regards to the food technology and formulation of new saffron products. Currently the innovative products like saffron cream powder, dessert powder, creme caramel powder, beverage powder, batter powder, cake mix, different semi-ready to use saffron soups and different saffron spice mixtures are becoming the new trend in the market which is increasing its demand.
MARKET SCOPE
The "Saffron Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the saffron market with detailed market segmentation by form, function, end-use and geography. The global saffron market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading saffron market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The saffron market is segmented on the basis of form, function and end use. On the basis of the form, the saffron market can be segmented into thread, powder and liquid saffron. On the basis of function, it can be segmented into flavoring and spice, others. On the basis of end use, the product market can be further segmented into food, medical, cosmetics, and others.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global saffron market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The saffron market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the saffron market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the saffron market in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global saffron market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The saffron market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the saffron market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the saffron market in these regions.
MARKET PLAYERS
The reports cover key developments in the saffron market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Saffron market are anticipated to lucrative growth opportunities in the future with the rising demand for Saffron in the global market. Below mentioned is the list of few companies engaged in the saffron market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the saffron market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Azafranes Manchegos S.L.
- Epicure Garden
- Eyjan Saffron
- Grandorco
- Novin Saffron
- Rowhani Saffron Co.
- Saffron International
- Shahri Food Productions Group
- Taj Agro International
- Tarvand Saffron Co.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Saffron Market - By Form
1.3.2 Saffron Market - By Function
1.3.3 Saffron Market - By End Use
1.3.4 Saffron Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SAFFRON MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SAFFRON MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. SAFFRON MARKET - GLOBAL MARKET ANALYSIS
6.1. SAFFRON - GLOBAL MARKET OVERVIEW
6.2. SAFFRON - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SAFFRON MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. THREAD
7.3.1. Overview
7.3.2. Thread Market Forecast and Analysis
7.4. POWDER
7.4.1. Overview
7.4.2. Powder Market Forecast and Analysis
7.5. LIQUID
7.5.1. Overview
7.5.2. Liquid Market Forecast and Analysis
8. SAFFRON MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTION
8.1. OVERVIEW
8.2. FUNCTION MARKET FORECASTS AND ANALYSIS
8.3. FLAVORING AND SPICE
8.3.1. Overview
8.3.2. Flavoring and Spice Market Forecast and Analysis
8.4. OTHERS
8.4.1. Overview
8.4.2. Others Market Forecast and Analysis
9. SAFFRON MARKET - REVENUE AND FORECASTS TO 2028 - END USE
9.1. OVERVIEW
9.2. END USE MARKET FORECASTS AND ANALYSIS
9.3. FOOD
9.3.1. Overview
9.3.2. Food Market Forecast and Analysis
9.4. MEDICAL
9.4.1. Overview
9.4.2. Medical Market Forecast and Analysis
9.5. COSMETICS
9.5.1. Overview
9.5.2. Cosmetics Market Forecast and Analysis
9.6. OTHERS
9.6.1. Overview
9.6.2. Others Market Forecast and Analysis
10. SAFFRON MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Saffron Market Overview
10.1.2 North America Saffron Market Forecasts and Analysis
10.1.3 North America Saffron Market Forecasts and Analysis - By Form
10.1.4 North America Saffron Market Forecasts and Analysis - By Function
10.1.5 North America Saffron Market Forecasts and Analysis - By End Use
10.1.6 North America Saffron Market Forecasts and Analysis - By Countries
10.1.6.1 United States Saffron Market
10.1.6.1.1 United States Saffron Market by Form
10.1.6.1.2 United States Saffron Market by Function
10.1.6.1.3 United States Saffron Market by End Use
10.1.6.2 Canada Saffron Market
10.1.6.2.1 Canada Saffron Market by Form
10.1.6.2.2 Canada Saffron Market by Function
10.1.6.2.3 Canada Saffron Market by End Use
10.1.6.3 Mexico Saffron Market
10.1.6.3.1 Mexico Saffron Market by Form
10.1.6.3.2 Mexico Saffron Market by Function
10.1.6.3.3 Mexico Saffron Market by End Use
10.2. EUROPE
10.2.1 Europe Saffron Market Overview
10.2.2 Europe Saffron Market Forecasts and Analysis
10.2.3 Europe Saffron Market Forecasts and Analysis - By Form
10.2.4 Europe Saffron Market Forecasts and Analysis - By Function
10.2.5 Europe Saffron Market Forecasts and Analysis - By End Use
10.2.6 Europe Saffron Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Saffron Market
10.2.6.1.1 Germany Saffron Market by Form
10.2.6.1.2 Germany Saffron Market by Function
10.2.6.1.3 Germany Saffron Market by End Use
10.2.6.2 France Saffron Market
10.2.6.2.1 France Saffron Market by Form
10.2.6.2.2 France Saffron Market by Function
10.2.6.2.3 France Saffron Market by End Use
10.2.6.3 Italy Saffron Market
10.2.6.3.1 Italy Saffron Market by Form
10.2.6.3.2 Italy Saffron Market by Function
10.2.6.3.3 Italy Saffron Market by End Use
10.2.6.4 United Kingdom Saffron Market
10.2.6.4.1 United Kingdom Saffron Market by Form
10.2.6.4.2 United Kingdom Saffron Market by Function
10.2.6.4.3 United Kingdom Saffron Market by End Use
10.2.6.5 Russia Saffron Market
10.2.6.5.1 Russia Saffron Market by Form
10.2.6.5.2 Russia Saffron Market by Function
10.2.6.5.3 Russia Saffron Market by End Use
10.2.6.6 Rest of Europe Saffron Market
10.2.6.6.1 Rest of Europe Saffron Market by Form
10.2.6.6.2 Rest of Europe Saffron Market by Function
10.2.6.6.3 Rest of Europe Saffron Market by End Use
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Saffron Market Overview
10.3.2 Asia-Pacific Saffron Market Forecasts and Analysis
10.3.3 Asia-Pacific Saffron Market Forecasts and Analysis - By Form
10.3.4 Asia-Pacific Saffron Market Forecasts and Analysis - By Function
10.3.5 Asia-Pacific Saffron Market Forecasts and Analysis - By End Use
10.3.6 Asia-Pacific Saffron Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Saffron Market
10.3.6.1.1 Australia Saffron Market by Form
10.3.6.1.2 Australia Saffron Market by Function
10.3.6.1.3 Australia Saffron Market by End Use
10.3.6.2 China Saffron Market
10.3.6.2.1 China Saffron Market by Form
10.3.6.2.2 China Saffron Market by Function
10.3.6.2.3 China Saffron Market by End Use
10.3.6.3 India Saffron Market
10.3.6.3.1 India Saffron Market by Form
10.3.6.3.2 India Saffron Market by Function
10.3.6.3.3 India Saffron Market by End Use
10.3.6.4 Japan Saffron Market
10.3.6.4.1 Japan Saffron Market by Form
10.3.6.4.2 Japan Saffron Market by Function
10.3.6.4.3 Japan Saffron Market by End Use
10.3.6.5 South Korea Saffron Market
10.3.6.5.1 South Korea Saffron Market by Form
10.3.6.5.2 South Korea Saffron Market by Function
10.3.6.5.3 South Korea Saffron Market by End Use
10.3.6.6 Rest of Asia-Pacific Saffron Market
10.3.6.6.1 Rest of Asia-Pacific Saffron Market by Form
10.3.6.6.2 Rest of Asia-Pacific Saffron Market by Function
10.3.6.6.3 Rest of Asia-Pacific Saffron Market by End Use
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Saffron Market Overview
10.4.2 Middle East and Africa Saffron Market Forecasts and Analysis
10.4.3 Middle East and Africa Saffron Market Forecasts and Analysis - By Form
10.4.4 Middle East and Africa Saffron Market Forecasts and Analysis - By Function
10.4.5 Middle East and Africa Saffron Market Forecasts and Analysis - By End Use
10.4.6 Middle East and Africa Saffron Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Saffron Market
10.4.6.1.1 South Africa Saffron Market by Form
10.4.6.1.2 South Africa Saffron Market by Function
10.4.6.1.3 South Africa Saffron Market by End Use
10.4.6.2 Saudi Arabia Saffron Market
10.4.6.2.1 Saudi Arabia Saffron Market by Form
10.4.6.2.2 Saudi Arabia Saffron Market by Function
10.4.6.2.3 Saudi Arabia Saffron Market by End Use
10.4.6.3 U.A.E Saffron Market
10.4.6.3.1 U.A.E Saffron Market by Form
10.4.6.3.2 U.A.E Saffron Market by Function
10.4.6.3.3 U.A.E Saffron Market by End Use
10.4.6.4 Rest of Middle East and Africa Saffron Market
10.4.6.4.1 Rest of Middle East and Africa Saffron Market by Form
10.4.6.4.2 Rest of Middle East and Africa Saffron Market by Function
10.4.6.4.3 Rest of Middle East and Africa Saffron Market by End Use
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Saffron Market Overview
10.5.2 South and Central America Saffron Market Forecasts and Analysis
10.5.3 South and Central America Saffron Market Forecasts and Analysis - By Form
10.5.4 South and Central America Saffron Market Forecasts and Analysis - By Function
10.5.5 South and Central America Saffron Market Forecasts and Analysis - By End Use
10.5.6 South and Central America Saffron Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Saffron Market
10.5.6.1.1 Brazil Saffron Market by Form
10.5.6.1.2 Brazil Saffron Market by Function
10.5.6.1.3 Brazil Saffron Market by End Use
10.5.6.2 Argentina Saffron Market
10.5.6.2.1 Argentina Saffron Market by Form
10.5.6.2.2 Argentina Saffron Market by Function
10.5.6.2.3 Argentina Saffron Market by End Use
10.5.6.3 Rest of South and Central America Saffron Market
10.5.6.3.1 Rest of South and Central America Saffron Market by Form
10.5.6.3.2 Rest of South and Central America Saffron Market by Function
10.5.6.3.3 Rest of South and Central America Saffron Market by End Use
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. SAFFRON MARKET, KEY COMPANY PROFILES
12.1. EYJAN SAFFRON
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. NOVIN SAFFRON
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. GRANDOR CO.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. SHAHRI FOOD PRODUCTIONS GROUP
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. SAFFRON INTERNATIONAL
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. TAJ AGRO INTERNATIONAL
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. OTHERS
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
1. Eyjan Saffron
2. Novin Saffron
3. Grandor Co.
4. Shahri food productions group
5. Saffron International
6. Taj Agro International
7. Others
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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