The Emerging Saffron Market is driven by Increasing Application in Food and Personal Care Industries
The Saffron market has witnessed significant growth over the past few years due to its increasing application in various industries like food and personal care. Saffron, which is known for its characteristic deep red color, woody-hay aroma, and mildly bittersweet taste, is one of the most expensive spices by weight in the world. It is majorly used as a seasoning and coloring agent in food preparations like rice dishes, paella, seafood, and others. Apart from its flavoring and coloring properties, saffron also offers various health benefits like boosting mood, reducing symptoms of depression, protecting heart health, and preventing cancer. This wide range of culinary and medicinal properties has boosted Saffron Market Demand across industries globally.
The global saffron market is estimated to be valued at US$ 4,76,689.60 Thousands in 2021 and is expected to exhibit a CAGR of 5.30 % over the forecast period (2021-2028).
Key Takeaways
Key players operating in the Saffron market are Safrante Global Company S.L.U., Evolva, Rowhani Saffron Co, Sara Nuts, Tarvand Saffron Co, Hijos de Eustaquio Abad Co. S.L., USMS Saffron Co.Inc, Royal Saffron Company. These players are focusing on expanding their production capacity and global footprint to cater to the growing demand.
The demand for saffron is increasing majorly due to its wide applications in food and personal care industries globally. Saffron is known for its flavoring, coloring and various medicinal properties. This has triggered its use in a variety of culinary preparations and personal care products.
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