Saffron Market Size, Share, Growth Analysis, By Grade(Grade I, Grade II, Grade III, Grade IV), By Type(Organic, Traditional), By Form(Liquid, Powder, Stigma, Petals), By Application(Food supplements, Cosmetics, Personal Care Products, Food & Beverage), By Distribution Channel(B2B, B2C), By Region - Industry Forecast 2024-2031

Saffron Market size was valued at USD 1.29 billion in 2022 and is poised to grow from USD 1.39 billion in 2023 to USD 2.45 billion by 2031, growing at a CAGR of 7.4% during the forecast period (2024-2031).

Growing demand for saffron in cosmetic and medicinal applications is anticipated to be a major market driver over the course of the projected period. Saffron has many health advantages and is high in antioxidants. Picrocrocin, safranin, and crocin are the three primary active ingredients found in saffron. These substances aid in lowering inflammation and oxidative brain injury. Saffron is also thought to improve memory and have anti-inflammatory and antioxidant qualities, which will undoubtedly promote market expansion. In the cosmetics sector, it is also utilised as a natural UV-absorbing ingredient. The employment of electric nose, pilot scale, and image processing technology are important processing technologies.

However, employing the image processing method to separate stigmas takes less time than the manual process that has been used up to this point. The high cost and increased demand on the worldwide market have caused adulteration to increase quickly in recent years. Combining items that resemble saffron is one form of adulteration. Because of the adulteration, the product's quality can vary, which in turn affects the price. Due to growing public knowledge of the therapeutic capabilities and health advantages of saffron, demand has been rising in the U.S. during the past few years.

US Saffron Market is poised to grow at a sustainable CAGR for the next forecast year.