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During the projected period, Saffron market is expected to grow at a CAGR of 10.8 %. The market value is projected to increase from US$ 480 Million in 2022 to US$ 804.4 Million by 2032.

In 2021, the Iranian saffron market was estimated to be worth $330 million, and by 2026, it is predicted to be worth more than $500 million. By the end of 2032, the saffron market in Iran is projected to be worth over $600 million, with a CAGR of 5.7%. Experts predict an approximately $17 billion opportunity in the Iranian saffron market for 2022 over 2021, with updates for an expected incremental opportunity of about $200 million between 2022 and 2032.

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As more people become aware of the culinary uses and health advantages of the spice, the market for saffron is expanding quickly. Saffron is used in a variety of industries, including food, cosmetics, and medicine because of its distinctive flavour, colour, and therapeutic qualities. In the upcoming years, it is projected that the sector would keep growing.

The majority of the saffron will still be consumed in these countries’ retail industries, the survey said. Saffron sales from retail outlets are projected to exceed US$ 160 million. But with a 5.1% CAGR in sales development, the market will see a marked increase in the usage of saffron in cosmetic manufacturing. How much saffron is consumed depends on whether it is used as a spice, herb, or flavouring. Furthermore, during the course of the anticipated period, the flavouring and spice sector will be responsible for nearly three-fourths of the saffron revenue generated in these countries.

Key highlights from the report on saffron market for targeted countries include:

Iran’s saffron market will expand at 5.7% CAGR, and register substantial growth in production of powdered saffron
More than 90 Mn worth of saffron powder will be consumed in the US by the end of 2026
In UK’s saffron market, medical & pharmaceutical industry will record revenue growth at 6% CAGR during forecast period
For More Information Click Here:
https://www.futuremarketinsigh....ts.com/reports/carra

Market Segmentation

By Form

Thread
Powder
Liquid
By End Use

Retail
Food Service
Culinary Products
Dairy Products
Confectionery
Tea
Others
Medical & Pharmaceuticals
Cosmetics
Skin Care
Hair Care
Others
By Function

Flavouring & Spice
Herbs
Others