Saffron Market Share, Size, Trends, Industry Analysis Report
By Type (Organic, Conventional); By Grade; By Application; By Form; By Region; Segment Forecast, 2025 - 2034
- Published Date:Sep-2025
- Pages: 115
- Format: PDF
- Report ID: PM2366
- Base Year: 2024
- Historical Data: 2020 - 2023
The global saffron market was valued at USD 474.6 million in 2024 and is expected to grow at a CAGR of 8.6% during the forecast period. Growing demand for natural ingredients, increasing consumer awareness, and its availability in different forms that make easy usability boost the market growth during the forecast period. It is high in vitamins, and it has anti-depressant, anti-oxidant, and antiseptic properties, which make it popular in the management of asthma, sneeze, cold, and measles.
Key Insights
- The grade I segment dominated the market in 2024. This is due to its quality, which is essential for end-use industries.
- The medical segment is expected to witness significant revenue growth during the forecast period due to the market demand for herbal remedies in Iran, India, and China.
- Asia Pacific dominated the market in 2024. This is due to the presence of manufacturers in the Asia Pacific. India and China have traditional uses in food and medicine.
- Europe is expected to witness a significant CAGR in the global market during the forecast period. This is due to the advantages in processing, packaging foods, and branding capabilities.
Industry Dynamics
- Its antioxidants and anti-inflammatory properties are increasingly used for diseases such as cognitive disorders and cancer, boosting its demand in pharmaceuticals.
- The rise in production of chemical-free, organic saffron, with consumer preference for wellness products, has boosted the adoption of nutraceutical formulations.
- Changes in prices from climate-sensitive yields create income instability for farmers, while the impurity with cheap substitutes damages consumer trust.
- The rise in demand for natural and wellness products creates new revenue streams in supplements, cosmetics, and pharmaceuticals for high-grade saffron.
Market Statistics
- 2024 Market Size: USD 474.6 million
- 2034 Projected Market Size: USD 1,084.9 million
- CAGR (2025-2034): 8.6%
- Asia Pacific: Largest market in 2024
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It is a spice extracted from dried stigma of crocus sativus flower, priced for flavoring, coloring, and medicinal use. It is available on the market in thread, liquid, and powder forms and is widely used to produce food preservatives, nutritional supplements, aromas, beauty products, and skincare products. The saffron market is expanding due to rising interest in natural ingredients. Its business growth is expected to be facilitated by rising consumer tastes for organic ingredients due to the world's growing health-conscious population.
Furthermore, sustainability and certification have become more popular worldwide, which can be credited to consumers' increasing concern about food safety as they become more concerned about the origin, quality, and authenticity of food products. As a result, multiple manufacturers have begun to offer certificated food ingredients. The rapid focus of the government on the cultivation of product, the establishment of a new saffron park, launches of new schemes, and several benefits is the driving factor during the forecast period. In November 2021, According to a report by Risingkashmir, Kashmir's manufactured saffron or flowers were praised more than Iran's.
Kashmiri saffron is nearly 50% more beneficial than Iranians. Still, the current valuation of Kashmiri saffron is even less than 5%, while saffron cultivated in Iran, Spain, and elsewhere holds 95% of the market worldwide. Also, in August 2021, the government of India launched new schemes and methods to promote its cultivation in the Kashmir valley. Saffron park has been established specifically for processing and marketing Kashmir Valley saffron.
Industry Dynamics
Growth Drivers
Strong growth for the market in medical applications is expected to drive the saffron market during the forecast period. It contains many plant products that function as antioxidants, safeguarding one's cells from free radicals and oxidative stress. They contain a lot of antioxidants, which assist in neutralizing free radicals. Chronic diseases such as cancer have been connected to free radical damage.
Cancer, for illustration, is a leading cause of mortality globally, accounting for nearly a million premature deaths, or well almost one in every six deaths, according to the WHO. Infections that cause cancer, such as Human Papillomavirus (HPV) and hepatitis, account for approximately 30% of malignant tumors in low- and relatively low countries. As a result of the rising prevalence of cancer, there is a greater demand for the product for its medicinal properties.
Further, these compounds aid in the reduction of inflammatory responses in the human brain. It is renowned for its memory-enhancing, anti-oxidative, and anti-inflammatory properties, which are expected to drive market growth. In connection with this, their use in prescription drugs for their anti-tumor properties in the treatment of cancer, arthritis, and cardiovascular disabilities is also favoring the market growth. Furthermore, the production of organic and chemical-free saffron to meet the needs of health-conscious consumers is expected to drive the saffron market even further.
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Report Segmentation
The market is primarily segmented based on type, grade, application, form, and region.
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By Type |
By Grade |
By Form |
By Application |
By Region |
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Grade Analysis
The segmentaion, based on grade, includes, grade I, grade II, grade III, and grade IV. The grade I segment dominated the market in 2024 due to its superior characterstics for its quality, which are supreme for end-use industries. Grade I is high in color, taste, and aroma content, without any yellow filament. These contents result in aromatic and deeply colored spice that is highly used by large scale food manufacturers, chef's, and luxury goods producers. Moreover, the domination of this segment is supported by the changing consumer landscape and growth in industry position. Demand from the global consumers in developed markets is on the rise due to its authenticity, purity, and traceability in premium ingredients.
Application Analysis
Based on application, the segmentation includes, food, medical, cosmetics, and others. The medical segment is expected to witness significant revenue frowth during the forecast period. The significance of the market in herbal remedies in Iran, India, and China is expected to drive segment growth during the forecast period. It is intended to help battle free radicals, which cause various diseases such as chronic inflammatory disease, asthma, diabetes, and cancer.
Regional Analysis
Asia Pacific Saffron Market Assessment
Asia Pacific accounted for largest revenue share in 2024. India is the leading manufacturer in the Asia Pacific, and India and China are some of the region's top purchasers. They are among the most valuable flavorings in these countries, with traditional uses in food and medicine. For its distinct color and flavor, India's Kashmiri saffron is in high demand around the world.
The expanding use of the item as an ingredient in dietary supplements is also expected to boost demand over the forecast period. The majority of the global market players are output, focusing on their production process and worldwide distribution connection to meet rising demand from diverse application industries worldwide.
Europe Saffron Market Insights
Europe is expected to witness a high CAGR in the global market. Europe is a significant re-export market because some participating countries have significant advantages in processing, packaged foods, and branding capabilities. Since the value-added revenue made by re-exports is substantial, these distributors are constantly looking for greater volumes of high-quality products. Increased re-exports by European countries are projected to increase Europe's position in the global market.
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Key Players & Competitive Analysis Report
The competitive landscape for the saffron sector exhibits a significant level of fragmentation among SMEs in the major saffron-producing countries where control of sustainable value chains from farm to the distribution channel is an important point of differentiation. Vendors are increasingly pursuing technology-based developments in quality authentication, including spectroscopic analysis, to reduce saffron adulteration practices occurring mainly in mature and developed markets in order to protect brand reputation. Competitively, the leading intelligence in this space allows for forward thinking about entering into developing value-added products for the cosmetics and pharmaceuticals sectors. For competitive positioning, producers will at minimum need to offer and have transparency of their saffron source, including geographic indication certifications, and provide education to conscientious consumers about the differentiation of Grade quality.
Some of the major players operating in the global market include Esfedan Trading Company, Flora Saffron, Gohar Saffron, Iran Saffron, Mehr Saffron, Rowhani Saffron Co., Royal Saffron Company, Saffron Group, Safran Global Company S.L.U., and Tarvand Saffron Co.
Industry Developments
March 2025: Jebel Ali Free Zone (Jafza) and Haldiram collaborated to set up one of the largest saffron processing facilities in the GCC. The facility will be managed by Kesar Expert & Packers, and it will also secure globally recognised European BRCGS certification to guarantee the quality and purity of its saffron.
June 2022: Natac acquired INOREAL to expand Natac’s presence in the saffron extracts market. The objective is to provide the nutraceutical, pharmaceutical, food, animal nutrition, and cosmetic industries, with access to premium and value-added bioactive ingredients.
Saffron Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 474.6 million |
| Market size value in 2025 | USD 514.7 million |
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Revenue forecast in 2034 |
USD 1,084.9 million |
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CAGR |
8.6% from 2025 - 2034 |
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Base year |
2024 |
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Historical data |
2020 - 2023 |
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Forecast period |
2025 - 2034 |
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Quantitative units |
Revenue in USD million and CAGR from 2025 to 2034 |
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Segments covered |
By Type, By Grade, By Form, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Esfedan Trading Company, Flora Saffron, Gohar Saffron, Iran Saffron, Mehr Saffron, Rowhani Saffron Co., Royal Saffron Company, Saffron Group, Safran Global Company S.L.U., and Tarvand Saffron Co. |
FAQ's
• The global market size was valued at USD 474.6 million in 2024 and is projected to grow to USD 1,084.9 million by 2034.
• The global market is projected to register a CAGR of 8.6% during the forecast period.
• Asia Pacific dominated the global market share in 2024.
• A few market players are Esfedan Trading Company, Flora Saffron, Gohar Saffron, Iran Saffron, Mehr Saffron, Rowhani Saffron Co., Royal Saffron Company, Saffron Group, Safran Global Company S.L.U., and Tarvand Saffron Co.
• The grade I segment dominated the market in 2024.
• The medical segment is expected to witness significant revenue growth during the forecast period
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