An Incisive, In-depth Analysis on the Saffron Market
This study offers a comprehensive, 360 degree analysis on the Saffron market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Saffron market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Increasing demand for natural ingredients is set to boost revenue growth of the saffron market
In 2015, the saffron market for target countries (Netherlands, Iran, U.S., U.K., Germany, France, Spain, China, Belgium, Luxembourg & Italy) was valued at nearly US$ 350 Mn which is expected to reach nearly US$ 480 Mn by 2021 end. The saffron market for target countries is expected to be valued at nearly US$ 620 Mn by the end of 2026, registering a CAGR of 5.3% over the forecast period. The market is estimated to represent incremental opportunity of nearly US$ 270 Mn between 2016 and 2026.
Demand for saffron is high as it contains antioxidants such as zeaxanthin, lycopene, a- and ß-carotenes that protect humans from stress, cancers, infections, and also act as immune modulators. In addition it has many therapeutic applications which has increased its demand in the pharmaceutical industry. These properties of saffron are expected to drive market growth over the forecast period.
Saffron Market for Target Countries, by Form
The thread segment was estimated to account for a value share of 55.8% by 2016 end. The thread segment is expected to remain dominant in terms of value over the forecast period. However, this segment is expected to lose 400 BPS by 2026 over 2016. The powder segment was estimated to account for a value share of 38.6% by 2016 end. This segment is expected to gain 510 BPS over the forecast period and account for a value share of 43.7% by 2026 end. Increasing usage of the powder form of saffron for application in the food & beverages industry and in medical applications is expected to support revenue growth of the segment over the forecast period. The liquid segment was estimated to account for a value share of 5.6% by 2016 end. This segment is expected to lose 100 BPS over the forecast period.
Saffron Market for Target Countries Market Attractiveness Analysis, by Form
The powder segment is expected to register a relatively high CAGR during the forecast period. The thread segment is anticipated to register a CAGR of 4.5% in terms of value over the forecast period. The liquid segment is projected to exhibit moderate growth registering a CAGR of 3.1% in terms of value over the forecast period. Low availability of products in liquid form may restrain revenue growth of the related segment over the forecast period.
Iran Saffron Market Analysis and Forecast
In 2015, the saffron market in Iran was valued at nearly US$ 220 Mn, which is expected to reach more than US$ 300 Mn by 2021 end. The saffron market in the country is expected to be valued at nearly US$ 400 Mn by the end of 2026, registering a CAGR of 5.7% over the forecast period. The Iran saffron market was estimated to represent absolute $ opportunity of nearly US$ 15 Mn in 2016 over 2015 and is anticipated to record incremental opportunity of nearly US$ 180 Mn between 2016 and 2026.
“Influx of counterfeit saffron is affecting the saffron market adversely
Growth of the global saffron market is being impacted due to the production of fake saffron. Counterfeit saffron is sold at far lower prices, which is affecting overall market growth. The trade of counterfeit saffron is affecting consumer purchasing decisions and negatively impacting the goodwill of manufacturers. In addition, with reduced market credibility, there is a lack of government regulations and steps to control the flow of counterfeit saffron in the market, which is further expected to restrain market growth during the forecast period.”
--- Analyst, Food & Beverages – Future Market Insights
Future Market Insights presents a comprehensive analysis of the saffron market across a few targeted countries in a new publication titled ‘Saffron Market: Global Industry Analysis and Opportunity Assessment, 2016–2026’. In this report, Future Market Insights has focussed on offering detailed insights and in-depth research on the saffron market over a 10 year forecast period 2016 – 2026. In this report, we have covered the important factors driving the expansion of the saffron market, untapped opportunities for market players in this field, trends and developments shaping the dynamics of the saffron market and other insights across various key segments. In addition, we have identified the key drivers and restraints affecting the development of the saffron market in the targeted countries. Changing trends are also analysed and incorporated in the report to equip clients with exhaustive information about the market resulting in better decision making. Macroeconomic factors that directly and indirectly affect the performance of the saffron market are also incorporated in the report.
The primary objective of the report is to offer insights on the advancements in the saffron market across the target countries. The study demonstrates market dynamics that are expected to influence the current environment and future status of the saffron market for target countries over the forecast period. A section of the report discusses how the overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. Various barriers to entry in the industry are analysed and rated on the basis of their impact on the competition level in the market. Manufacturers are introducing new patents regarding the production, extraction and deriving of active components from saffron, which is a major trend in the saffron market.
The report talks about the market share of the saffron market for target countries by form, by end use and by function. A section of the report highlights country-wise saffron demand. It provides a market outlook for 2016–2026 and sets the forecast within the context of the saffron ecosystem, including the new technological developments as well as new offerings in the saffron market. The report also highlights aspects of pure saffron, partial counterfeit saffron and entirely counterfeit saffron. This study discusses the key trends contributing to the growth of the saffron market in the target countries, as well as analyses the degree to which drivers are influencing the market in each country.
In the final section of report, a competitive landscape has been included to provide report audiences with a dashboard view. Key categories of providers covered in the report are saffron manufacturers and suppliers. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies.
By End Use
By Key Countries
To calculate saffron market size, macroeconomic indicators such as the food industry outlook, expenditure on healthy food, Gross Domestic Product (GDP) and others have been considered to arrive at the estimated market numbers. The forecast presented here assesses the total revenue by value across the market. In order to offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the saffron market will develop in the future. Given the characteristics of the market, we have triangulated the outcome of different types of analyses based on the technology trends.
Given the ever-fluctuating nature of the global economy, we have not only conducted our forecasts in terms of CAGR, but have also analysed the saffron market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market. As previously highlighted, the saffron market is split into a number of segments. All segments in terms of form, end use, function and based on different countries are analysed in terms of basis point share to understand segmental contribution to market growth. This detailed level of information is important for identification of various key trends of the saffron market. Also, another key feature of this report is the analysis of all market segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the saffron market.
Saffron Market Reports - Table of Contents
1. Executive Summary
2. Assumptions & Acronyms Used
3. Research Methodology
4. Market Taxonomy
23. Competitive Dashboard