Saffron Market Size worth $756.7 Million by 2030 | CAGR: 8.6%
The report “Saffron Market Share, Size, Trends, Industry Analysis Report, By Type (Organic, Conventional); By Grade (Grade I, Grade II, Grade III, Grade IV); By Application (Food, Medical, Cosmetics, Others); By Form (Thread, Powder, Liquid); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global saffron market size & share was valued at USD 372.9 million in 2021 and is expected to reach USD USD 756.7 million by 2030, growing at a CAGR of 8.6% during the forecast period.
Strong increases in the cosmetics industry worldwide are significant factors leading to the market’s positive approach. The cosmetic benefits of the product are diverse, as many skincare products use it to augment their brand image and provide males and females with healthy skin. They have excellent antioxidant properties, making them a popular choice in beauty products. Sometimes men and women can use beauty creams or ointments known to treat these issues. It is being used as a natural UV-absorbing agent in cosmetics.
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Further, acne, dark spots, scars, and other skin ailments affect men and women. The product’s skincare benefits promote healing as it can be used in natural remedies and implemented for acne and acne scars. For instance, as per the American Academy of Dermatology Association, acne is the most skin disease in the US, affecting up to 50 million people each year. Approximately 85 percent of people aged 12 and 24 have some form of acne. Acne in adults is becoming more common, affecting up to 15% of girls.
Atopic dermatitis affects one in every ten people. Hereditary shrinking or baldness, also known as androgenetic alopecia, is the most frequent cause of hair loss. This illness affects an estimated 80 million Americans, 50 million of which are men and 30 million of whom are women. Psoriasis affects approximately 7.5 million individuals in the U.S. Thus, the growing skin-related problem has increased the demand for products to treat, boosting the industry growth during the forecast period.
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Top Market Players
Market players such as Flora Saffron, Royal Saffron Company, Esfedan Trading Company, Iran Saffron, Mehr Saffron, Rowhani Saffron Co., Gohar Saffron, Saffron Group, Safran Global Company S.L.U., and Tarvand Saffron Co. are key players operating in the global market.
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Polaris Market Research has segmented the saffron market report based on type, grade, application, form, and region:
Saffron, Type Outlook (Revenue – USD Million, 2018 – 2030)
Saffron, Grade Outlook (Revenue – USD Million, 2018 – 2030)
- Grade I
- Grade II
- Grade III
- Grade IV
Saffron, Form Outlook (Revenue – USD Million, 2018 – 2030)
Saffron, Application Outlook (Revenue – USD Million, 2018 – 2030)