A recent report published by Infinium Global Research on saffron extract market provides in-depth analysis of segments and sub-segments in the global as well as regional saffron extract market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional saffron extract market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global saffron extract market. According to the report, the global saffron extract market is projected to grow at a CAGR of 5.5% over the forecast period of 2019-2025.
Market Insight
Saffron is a well-known herb used for a variety of purposes. It is a red-colored dried stigma extracted from the Crocus Sativus Linnaeus plant. The saffron extract contains three significant phytochemicals which are Picrocrocine, Safranal, and Crocin. These ingredients are responsible for bitterness, color, and aroma of the saffron extract. In the food industry, the saffron extract is used as a coloring agent that gives a passionate yellow color to the food product, owing to its aromatic nature, the saffron extract is also used as a flavoring agent in the food product. The usefulness of saffron extract is also been identified in the medical field as it has antitumor properties and also useful to treat kidney pain, stomach pain, and menstrual pain.
Rapidly expanding food and beverage industry across the globe is one of the major factor driving the growth of the market. Owing to the variety of applications of saffron extract in food items such as coloring agent, flavoring agent and aromatic agent, boosting its demand in this sector. Furthermore, the growing use of the saffron extract in the medical field for the synthesis of drugs is also contributing to the growth of the market. Saffron extract is proven to be useful in various medical conditions such as kidney pain, stomach pain, and menstrual pain also it has an antitumor property that is fuelling its demand in the pharmaceutical industry. On the other hand, the high cost associated with saffron and region-specific farming can hamper the growth of the market. However, growing demand from the food and beverage and pharmaceutical industry and rising awareness about the bifacial properties of saffron will provide a better opportunity to the market in the near future.
Based on the region, the Saffron extract market is categorized into North America, Europe, Asia Pacific, and RoW. The Asia Pacific dominates the region owing to the high demand of saffron in this region. Asia Pacific region is the largest producer of saffron in addition to that growing food and beverage industry and the presence of large saffron production countries is contributing to the growth of the market. The market in North America and Europe is expected to grow with healthy growth in the forecast period, the growing demand for special herbs in food and beverages is contributing to the growth of the market in this region.
Segment Covered
The report on global saffron extract market covers segments such as nature, form, and application. On the basis of nature, the sub-markets include organic, and conventional. On the basis of form, the sub-markets include thread, liquid, and powder. On the basis of application, the sub-markets include food additives, medical and pharmaceuticals, dietary supplements, fragrance and aromatherapy, cosmetics and skin care, and other applications.
Companies Profiled:
The report provides profiles of the companies in the market such as Activ'Inside, Monteloeder, KINGHERBS, Green Plants Extracts, Safrante Global Company S.L.U., Rowhani Saffron Co., Hijos de Eustaquio Abad y Cía S.L., USMS Saffron Co.Inc., Royal Saffron Company, Novin Saffron Co., and Other companies.
Report Highlights:
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of saffron extract market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
