Asia-Pacific Saffron Market, By Type (Sargol Saffron, Pushal/Poshal Saffron, Negin Saffron, Super Negin Saffron, and Bunch or Dasteh Saffron), Grade (Grade I, Grade II, Grade III, and Grade IV), Category (Conventional Products and Organic Products), Form (Powder, Liquid, Stigma, and Petals), Origin (India, Iran, Spain, Greece, Morocco, and Others), Drying Method (Sun Drying Method, Electric Oven Drying Method, Vaccum Oven Drying Method, Microwave Drying Method, and Others), Application (Food & Beverages, Food Supplements, Dietary Supplements, Pharmaceutical, Personal Care, Cosmetic, and Others), Distribution Channel (B2B (Store Based Retail, Non Store Based Retail) and B2C (Store Based Retail, Non Store Based Retail)) - Industry Trends and Forecast to 2030.
Asia-Pacific Saffron Market Analysis and Size
The saffron market has significant growth in the cosmetics industry. Due to its skin-brightening and hair-strengthening qualities, saffron is frequently utilized in the production of numerous personal care products, including lotions, cleansers, anti-blemish and fairness creams, and shampoos. The product's extensive use as a primary component in numerous food and beverages is another factor fueling the market's expansion. Saffron is being used by consumers as a natural coloring and flavoring agent due to the rising health consciousness among the general public. Along with this, saffron is used in pharmaceuticals to treat cancer, macular degeneration, arthritis, and cardiovascular problems, thanks to its neuroprotective and anti-tumor qualities, which is further boosting the market growth.
Data Bridge Market Research analyzes that the Asia-Pacific saffron B2B market is expected to reach a value of USD 314.43 million by 2030, at a CAGR of 6.7% and the Asia-Pacific saffron B2C market to reach a value of USD 353.78 million by 2030, at a CAGR of 6.2% during the forecast period.
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Report Metric
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Details
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Forecast Period
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2022 to 2030
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Base Year
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2022
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Historic Year
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2021
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Quantitative Units
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Revenue in USD Million, Volumes in Kilo Tons, and Pricing in USD
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Segments Covered
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By Type (Sargol Saffron, Pushal/Poshal Saffron, Negin Saffron, Super Negin Saffron, and Bunch or Dasteh Saffron), Grade (Grade I, Grade II, Grade III, and Grade IV), Category (Conventional Products and Organic Products), Form (Powder, Liquid, Stigma, and Petals), Origin (India, Iran, Spain, Greece, Morocco, and Others), Drying Method (Sun Drying Method, Electric Oven Drying Method, Vaccum Oven Drying Method, Microwave Drying Method, and Others), Application (Food & Beverages, Food Supplements, Dietary Supplements, Pharmaceutical, Personal Care, Cosmetic, and Others), Distribution Channel (B2B (Store Based Retail, Non Store Based Retail) and B2C (Store Based Retail, Non Store Based Retail))
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Contries Covered
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Japan, China, South Korea, India, Australia, New Zealand, Taiwan, Singapore, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific
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Market Players Covered
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Rowhani Saffron Co., Baby Brand Saffron, Saffron Business, Eyjann saffron, Novin Saffron Company, Esfedan Saffron Co., Kashmir Kesar Leader, Trond Saffron Qain Company, Mane KANCOR, Retaj Agro Farms, Zamindar Kesar, MVT Foods., GREEN LEAVES INTERNATIONAL, and Organic Kashmir
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Market Definition
The filaments of the crocus sativus flower are used to make the scarlet spice known as saffron. It is typically utilized as a coloring and flavoring component in a variety of food products after being harvested and dried. Additionally, it is used to give textile dyes the desired hue and adds a smell to perfumes. It is frequently used in the treatment of asthma, cough, cold, and measles because it is rich in a variety of vitamins and nutritional minerals and has anti-depressant, antioxidant, and antiseptic characteristics. It is widely used in the production of food additives, dietary supplements, scents, cosmetics, and skincare products. It is commercially available as thread, liquid, and powder.
Asia-Pacific Saffron Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
DRIVERS
- Growing Demand for Saffron in Food and Beverages Industry
Saffron threads are widely used in the food business. Saffron is largely utilized as a spice, herb, and for flavoring. It is the finest alternative to synthetic additives and offers nutritional benefits as well. Therefore, it contributes positively to market growth. It is preferred over artificial components when used as a natural colorant and flavoring substance. It is used in a variety of recipes across the world by diverse cuisines. In addition, it is utilized in a variety of food compositions, such as cake mixes, beverage powders, powdered crème caramel, and other similar semi-ready-to-use saffron concoctions. Numerous foods and beverages are produced using saffron. The food and beverages sector of this market is anticipated to grow significantly over the next few years, mostly as a result of the spice's substantial value as a flavoring agent. The food segment is anticipated to have a high volume share due to its rising usage as a natural food ingredient in formulations and as a taste enhancer. Saffron enhances the flavor of many different meal categories. Demand for saffron is predicted to increase as the food industry expands in various areas.
- Increasing Consumer Awareness about Medicinal Properties and Health Benefits of Saffron
The younger generation is increasingly interested in healthy food in today's environment, which is driving up demand for active lives. There has been an upsurge in the number of health-conscious consumers worldwide during the last several years. The demand for food products that promote good health has increased as more people pursue active, healthy lifestyles. Obesity, food sensitivity, and other ailments are still on the rise, thus living a healthy lifestyle is becoming a traditional way of life.
Antioxidant-rich saffron has many health advantages. Picrocrocin, safranal, and crocin are three of the key chemical constituents in saffron that are active. These substances aid in reducing inflammation and oxidative stress in the human brain. Saffron is also recognized for its memory-improving, anti-inflammatory, and antioxidant capabilities, which are likely to accelerate market expansion. Saffron is said to be able to combat free radicals that are thought to be the root cause of many illnesses, including cancer, diabetes, asthma, and inflammatory joint disease.
RESTRAINT
- High Cost of Saffron
Only three stigmata are present in each saffron flower. The stigmata are dried to maintain their color and flavor after being cut from the plant (together with their crimson pistils). One pound of saffron spice requires 75,000 saffron flowers because only a little portion of the blossom is used. Due to the limited amount of saffron spice produced per plant and the labor-intensive manual harvesting process, saffron is very expensive and may vary from country to country.
CHALLENGE
- Drastic Climatic Change
The sustainability of the food system is being impacted by climate change through changes in the natural and anthropogenic components of agroecosystems, which in turn affect farmer livelihoods, consumer preferences, and food security. Precipitation on an annual basis is increasing, as are significant rainfall occurrences, particularly in the spring. An excessive amount of spring rain can delay field operations, reduce crop establishment, prevent planting, and raise the prevalence of a number of bacterial and fungal crop diseases. It can also result in labor issues because it delays field activities. The amount and quality of saffron crop output are directly impacted by temperature and precipitation variations while scheduling crucial farm activities and the economic implications of pests, weeds, and diseases are indirectly impacted. Unfavorable weather also interferes with the transportation and supply chain of saffron.
Furthermore, fluctuations in temperature inhibit crop growth, shortening cropping seasons and lowering yields. An increase in oxidative stress in plants is brought on by a rise in tropospheric (or ground-level) ozone, which prevents photosynthesis and reduces plant growth. Extreme weather conditions, particularly floods and droughts, can damage crops and lower yields, which will ultimately have an impact on the market for saffron crops.
As a result, changing climatic circumstances negatively affect agriculture, diminishing production and confronting farmers and businesses, and ultimately limiting market expansion.
Post-COVID-19 Impact on Asia-Pacific Saffron Market
Post the pandemic, the demand for saffron increased as there were no more restrictions on the movement. Hence, the supply of products would be easy. In addition, the growing trend of processed food products and increased demand for saffron cultivation after the COVID-19 outbreak are expected to drive market growth.
Recent Development
- In May 2020, food news entitled “How adding a pinch of saffron to your food daily can magically improve your health” was published by the Times of India. This extraordinary spice has been used for centuries for its extraordinary therapeutic properties, which can both prevent and treat a number of health problems. Saffron has also been an excellent spice to bolster immunity and ward off seasonal illnesses aside from that. The importance of maintaining good health has increased as the globe fights the deadliest epidemic, COVID-19.
Asia-Pacific Saffron Market Scope
Asia-Pacific saffron market is segmented into eight notable segments based on type, grade, category, form, origin, drying method, application, and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Sargol Saffron
- Pushal/Poshal Saffron
- Negin Saffron
- Super Negin Saffron
- Bunch or Dasteh Saffron
Based on type, the market is segmented into sargol saffron, pushal/poshal saffron, negin saffron, super negin saffron, and bunch or dasteh saffron.
Grade
- Grade I
- Grade II
- Grade III
- Grade IV
Based on grade, the market is segmented into grade I, grade II, grade III, and grade IV.
Category
- Conventional
- Organic
Based on category, the market is segmented into conventional and organic.
Form
- Powder
- Liquid
- Stigma
- Petals
Based on form, the market is segmented into powder, liquid, stigma, and petals.
Origin
- India
- Iran
- Spain
- Greece
- Morocco
- Others
Based on origin, the market is segmented into India, Iran, Spain, Greece, Morocco, and others.
Drying Method
- Sun Drying Method
- Electric Oven Drying Method
- Vacuum Oven Drying Method
- Microwave Drying Method
- Others
Based on drying method, the market is segmented into sun drying method, electric oven drying method, vacuum oven drying method, microwave drying method, and others.
Application
- Food & Beverages
- Food Supplements
- Dietary Supplements
- Pharmaceutical
- Personal Care
- Cosmetic
- Others
Based on application, the market is segmented into food & beverages, food supplements, dietary supplements, pharmaceutical, personal care, cosmetic, and others.
Distribution Channel
- B2B
- B2C
Based on distribution channel, the market is segmented into B2B and B2C.
Asia-Pacific Saffron Market Regional Analysis/Insights
The Asia-Pacific saffron market is analyzed and market size insights and trends are provided by country based on type, grade, category, form, origin, drying method, application, and distribution channel.
The countries covered in this market report are China, India, Australia, Japan, Singapore, Indonesia, South Korea, Malaysia, Thailand, Philippines, and rest of Asia-Pacific.
China is dominating the saffron B2B market beacause of the increasingly high demand from the pharmaceutical and cosmetic industry is the major reason for market growth in Asia-Pacific. However, high prices are the main constraint to market growth.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Saffron Market Share Analysis
The Asia-Pacific saffron market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.
Some of the major players operating in the Asia-Pacific saffron market Rowhani Saffron Co. , Baby Brand Saffron, Saffron Business, Eyjann saffron, Novin Saffron Company, Esfedan Saffron Co., Kashmir Kesar Leader, Trond Saffron Qain Company, Mane KANCOR, Retaj Agro Farms, Zamindar Kesar, MVT Foods., GREEN LEAVES INTERNATIONAL, and Organic Kashmir among others.
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