Market Overview
Increasing sale of organic saffron is driven by rising awareness among the consumers about the health benefits gained from consumption of saffron in its chemical-free form. High antioxidant content of organic saffron makes its application more significant in personal care products due to its anti-ageing properties. Increased medicinal application of saffron has resulted in growth of saffron share in the pharmaceutical industry. Increasing disposable income and economy development has influenced the consumers spending behavior leading to increased expenditure on quality products. All these factors contribute to increased market share of saffron globally. The consumption as well as production of organic saffron is found to be high in Middle East region and is evaluated to increase at a positive growth rate in various countries of North America, Europe and Asia Pacific.
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Market Forecast
Globally the organic saffron market share as one of the fastest growing spices is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for natural and healthy products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards purchase of personal care products with natural and organic ingredients which also has a positive impact on this market.
All these factors will contribute to the calculated CAGR of 3.15% of Organic Saffron market during 2017-2023.
Downstream analysis
Consumption of organic saffron is growing at significant rate based on high consumers demand for chemical-free products in order to reduce the harmful effects imparted from such products. Multi-purpose application of saffron across food industries had led to increased use in food based application of the product. Based on the form, saffron threads is anticipated to hold a major share followed by powder form. Sale of organic saffron through supermarkets and hypermarkets is found to be high on a global level. This is due to consumer convenience and preference for one-stop shopping experience. In addition, based on the adoption of advanced technology by the consumers into their daily routine and convenience shopping experience, the sale of organic saffron through e-commerce is found to escalate at a positive growth rate.
Competitive analysis-
The major key players in Organic Saffron market are
Mehr Saffron (Iran)
Rowhani Saffron Co. (Iran)
Spicely Organics (U.S.)
Frontier Natural Products Co-op. (Norway)
Epicure Garden (U.S.)
Baby Brand Saffron (India)
Indus Organics, Inc. (U.S.)
Organic Saffron manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to this the application of organic saffron is increasing across various industries. In the Middle East region, Iran is among the dominating countries holding a major share in organic saffron market and exports the product in various other countries which include Spain, China, France, Italy and others.
Regional Analysis
The Global Organic Saffron Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Middle East and Africa (Rest of the World) holds a major market share followed by Asia Pacific region. High demands for healthy spices with widespread applications from the developed countries of these regions is contributing to the positive growth of organic saffron market. U.S., the Netherlands, Germany, Saudi Arabia, and Japan are the major importers of organic saffron.
Market Segmentation-
Global Organic Saffron market is segmented by form, application, distribution channel and region
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