Saffron Market By Form (Thread, Powder, Liquid), End Use (Retail, Food Service, Medical & Pharmaceuticals, Cosmetics), Function (Flavouring & Spice, Herbs) & Region - Forecast to 2016 - 2026
Saffron Market - Analysis, Outlook, Growth, Trends, Forecasts
- March 2017
- 251 pages
- Food and Beverage
Saffron Market Overview
[251 Pages Report] By the end of 2026, the saffron market in target countries (Netherlands, Iran, United States, United Kingdom, Germany, France, Spain, China, Belgium, Luxembourg, and Italy) is estimated to be worth roughly US$ 620 million, with a CAGR of 5.3 percent.
Estimated saffron market size for target countries in 2021
US$ 480 Mn
Projected Market Size of saffron segments in 2026
US$ 620 Mn
CAGR during 2016-2026
The thread segment was expected to hold a 55.8% value share by the end of 2016.
The powder category was expected to have a 38.6% value share by the end of 2016.
The liquid category was expected to hold a 5.6 percent value share by the end of 2016. By 2026, the associated segment's sales growth could be stifled due to a lack of liquid items.
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.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
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.”
By End Use
- Food Service
- Culinary Products
- Dairy Products
- Medical & Pharmaceuticals
- Skin Care
- Hair Care
- Flavouring & Spice
By Key Countries