The global Saffron Derivatives Market size is projected to achieve a valuation of USD 33.9 million by 2023, exhibiting a CAGR of 11.0% from 2023 to 2033. It is anticipated that the market would contribute a valuation of USD 97.3 million by 2033.
Key Saffron Derivatives Market Trends Listed by Future Market Insights (FMI):
Growth in the saffron derivatives industry can be attributed to several factors such as rising demand for natural & organic products and increasing awareness of health benefits of saffron. Growing use of saffron derivatives in the cosmetics and personal care sector is also projected to push demand.
While there are several generic and organic saffron extracts available in the market, none have pre-clinical or clinical studies to back up their bioavailability, efficacy, and effects. However, affron is the first saffron extract supported by peer-reviewed research due to which scientists are buzzing about affron.
It is claimed to provide various possible health advantages, including enhancing mood and lowering symptoms of depression & anxiety. A few other advantages are improving cognitive function and memory, as well as sleep quality, according to research.
It has also been investigated for its possible function in the management of metabolic illnesses such as type 2 diabetes and improvement of cardiovascular health.
Moreover, it is believed to be safe and well-tolerated when used at recommended dosages. It is also considered a natural alternative to synthetic compounds that are commonly used in pharmaceutical drugs.
| Attributes | Key Insights |
|---|---|
| Saffron Derivatives Market Estimated Size (2023E) | USD 33.9 million |
| Projected Market Valuation (2033F) | USD 97.3 million |
| Value-based CAGR (2023 to 2033) | 11.0% |
| Collective Value Share: Top 3 Countries | USD 39.6 million |
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According to Future Market Insights (FMI), the global saffron derivatives market grew at a CAGR of 7.2% from 2018 to 2022. It is anticipated that the market would remain lucrative, exhibiting growth at 11.0% CAGR between 2023 and 2033.
In recent years, consumers’ perception of health and lifestyle has undergone a crucial change. Consumers prefer health-promoting products, and are willing to pay more if these products provide the required health benefits.
Millennials also prefer dietary supplements to fulfill their daily nutritional requirements and to reduce the risk of diseases & disorders. In 2019, around 75% of adults in the United States consumed dietary supplements.
Primary reason for consumption of dietary supplements was to maintain health and wellness. Hence, growth in preventive healthcare is anticipated to boost sales of nutraceuticals such as affron and saffserene-based supplements during the forecast period.
Saffron Derivatives Market:
| Attributes | Saffron Derivatives Market |
|---|---|
| CAGR (2023 to 2033) | 11.0% |
| Market Value (2033) | USD 97.3 million |
| Growth Factor | Popularity of international cuisines and growing interest in gourmet cooking have contributed to the rising demand for saffron derivatives. |
| Opportunity | Demand for natural and organic cosmetics has been rising, and saffron derivatives are being incorporated into various beauty formulations, contributing to their increased demand. |
| Key Trends | Limited supply of genuine saffron has led to the development of saffron derivatives that can offer similar properties and benefits at a more accessible price point. |
Saffron Beer Market:
| Attributes | Saffron Beer Market |
|---|---|
| CAGR (2023 to 2033) | 5.7% |
| Market Value (2033) | USD 2.1 billion |
| Growth Factor | With increasing focus on health and wellness, consumers are seeking beverages such as saffron beer that not only taste good but also offer potential functional benefits. |
| Opportunity | Saffron beer is set to fit into the niche artisanal beer segment by providing a premium and exclusive option for beer enthusiasts who are willing to explore new and innovative flavors. |
| Key Trends | Promoting saffron beer as a premium and exotic product with its own distinct identity can create intrigue and generate consumer interest. |
Digestive Health Supplements Market:
| Attributes | Digestive Health Supplements Market |
|---|---|
| CAGR (2023 to 2033) | 6% |
| Market Value (2033) | USD 29,648.6 million |
| Growth Factor | With growing trend of personalized health solutions, digestive health supplements can be tailored to meet individual needs, further driving their demand. |
| Opportunity | Poor dietary choices, including inadequate fiber intake and processed foods are set to make people shift toward digestive health supplements to support their digestive function. |
| Key Trends | Heightened awareness regarding the importance of gut health has led to a greater emphasis on digestive health, driving demand for supplements targeting this area. |
Principal Consultant
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 6.9% |
| Jul to Dec (H2), 2021 (A) | 7.5% |
| Jan to Jun (H1),2022 Projected (P) | 8.0% |
| Jan to Jun (H1),2022 Outlook (O) | 7.7% |
| Jul to Dec (H2), 2022 Outlook (O) | 9.0% |
| Jul to Dec (H2), 2022 Projected (P) | 8.7% |
| Jan to Jun (H1), 2023 Projected (P) | 9.8% |
| BPS Change: H1,2022 (O) to H1,2022 (P) | 30 |
| BPS Change: H1,2022 (O) to H1,2021 (A) | 80 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | -30 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | 150 |
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| Region | North America |
|---|---|
| Country | United States |
| CAGR | 12.0% |
| BPS Analysis | -182.5 |
| Market Value (2033) | USD 29.3 million |
| Region | Europe |
|---|---|
| Country | United Kingdom |
| CAGR | 10.2% |
| BPS Analysis | -90.47 |
| Market Value (2033) | USD 2.1 million |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR | 9.5% |
| BPS Analysis | - 199.26 |
| Market Value (2033) | USD 8.0 million |
| Region | Asia Pacific |
|---|---|
| Country | India |
| CAGR | 7.9% |
| BPS Analysis | -146.92 |
| Market Value (2033) | USD 3.6 million |
Rising Cases of Depression in the United States to Push Saffron & its Derivative Demand
It is projected that the United States saffron derivatives market would elevate at a CAGR of 12.0% from 2023 to 2033. It is likely to reach a market valuation of USD 29.3 million in 2033.
Mental health conditions such as depression and anxiety are increasingly prevalent in the United States. Saffron derivatives such as saffserene have shown to have potential benefits for improving mood and reducing symptoms of these conditions. It has contributed to their growing demand.
The Food and Drug Administration (FDA) has also regulated the production and sale of saffron derivatives, ensuring that they are safe for consumption and meet quality standards. This regulation has further helped to ensure that consumers have access to safe and high-quality saffron derivatives.
Manufacturers of saffron derivatives have invested in patent protection and marketing efforts to increase awareness & demand for their products. This has further contributed to growing popularity of these products in the United States.
Government Support to Expand Saffron Cultivation in India would Fuel Demand
Saffron derivatives sales in India are anticipated to expand at a healthy CAGR of 7.9% in the next ten years. The country is projected to hold a market share of 40.7% in 2033.
India is one of the largest producers of saffron in the world, and has a rich history of using the spice in traditional medicine and cuisine. Growing awareness of potential health benefits of saffron derivatives has led to their increasing demand in India.
The government of India has also taken initiatives to promote cultivation and export of saffron. It is expected to boost supply and availability of saffron derivatives in the market.
For instance, the government has established saffron clusters in Jammu and Kashmir, which is a key saffron-producing region in India, to promote saffron cultivation. It also aims to provide training and technical support to farmers, which is showing a positive impact to fill the gap between demand & supply.
Promotion of Traditional Medicines in China to Bolster Sales of Saffron Derivatives
In China, performance of the saffron derivatives market has been mixed. The country is one of the largest producers and consumers of saffron. But, usage of saffron derivatives in China is new. Consumer awareness of these products is still growing.
On the bright side, there is a rising interest in natural and traditional remedies in China, which is opening up new markets for saffron derivatives. Saffron is recognized as a traditional Chinese medicine (TCM) for its possible health advantages, which is contributing to increased awareness and demand for saffron derivatives.
The government in China has recently launched initiatives to promote the use of traditional medicines, including TCM. It has also established the National Administration of Traditional Chinese Medicine, which is responsible for promoting and regulating the use of TCM in the country.
Affron to Showcase Immense Popularity in the World through 2033
Based on product type, affron is estimated to hold a global market share of 70.1% in 2033. It is projected to reach a valuation of USD 67.7 million in 2033.
Affron is extensively available in the saffron derivatives market. Its production has increased in recent years to meet rising demand. This accessibility has contributed to increased popularity of affron over saffserene.
Several clinical studies on affron have been conducted, demonstrating its efficacy in improving mood, reducing stress, and enhancing cognitive function. This research has led to affron's increased popularity among consumers looking for natural and effective supplements to boost their mental health & well-being.
Saffron Derivatives to Find Extensive Usage in Cognitive Health Related Supplements
Based on end use, the cognitive health segment is projected to remain at the forefront in the assessment period. It is estimated to elevate at a CAGR of 15.1% from 2023 to 2033. It is expected to reach a market value of USD 41.9 million in 2033.
There has been significant research and development in the saffron derivatives market, particularly in the cognitive health segment. This has resulted in the development of new and innovative products that are specifically targeted toward cognitive health.
There has been growing awareness about the importance of mental health. Several consumers are nowadays looking for natural ways to support their cognitive function and mood.
Saffron and its derivatives have been studied for their potential effects on cognitive health, and this has contributed to growing demand for these products in the segment. However, there has been significant research and development activities in the market. It is resulting in the development of new and innovative products in other segments.
Presence of national and international players would fuel the competitive landscape. To compete in the saffron derivatives market, leading companies are pursuing mergers and acquisitions, as well as new product launches as key strategies.
Acquisitions and mergers have enabled businesses to increase product quality and access new markets. Furthermore, introducing new products to the market has enabled companies to provide high-quality products while keeping up with changing trends across the industry.
A few start-up companies operating in the global market are:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 33.9 million |
| Projected Market Valuation (2033) | USD 97.3 million |
| Value-based CAGR (2023 to 2033) | 11.0% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD Million) and Volume (KG) |
| Key Regions Covered | Latin America; Europe; North America; South Asia; East Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Italy, Spain, France, Germany, United Kingdom, Netherlands, Belgium, Russia, Nordic, Poland, Japan, South Korea, China, India, Malaysia, Thailand, Singapore, Australia, Indonesia, GCC Countries, New Zealand, Central Africa, South Africa, and others |
| Key Market Segments Covered | Product Type, End User, and Regions |
| Key Companies Profiled | Gencor Lifestage Solutions; Pharmactive Biotech Products S.L.; CK Ingredients Inc.; Canapharma Inc.; Mind Nutrition Ltd; Natural Factors; Activ’Inside S.A.S; Allergy Research Group Llc; Nutricology; California Gold Nutrition; Dermo Manipulaes; Hepatika; Farmácia Avena Sativa; Saffr'Activ; Earths Secret; Other |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
The saffron derivatives market CAGR for 2033 is 11.0%.
The market is estimated to reach USD 97.3 million by 2033.
The challenges in the saffron derivatives market are the high cost of saffron.
The market is estimated to secure a valuation of USD 33.9 million in 2023.
The increasing demand for saffron for its culinary and medicinal properties is the key opportunity.
1. Executive Summary
2. Market Overview
3. Market Dynamics
4. Value Chain Analysis
5. Global Market - Pricing Analysis
6. Global Market Size (in Value (USD Million) and Volume (KG) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type
7.1. Affron
7.2. Saffserene
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
8.1. Sports Nutrition
8.2. Healthy Ageing
8.3. Cognitive Health
8.4. Women's and Men's Health
8.5. Metabolic and Weight Management
8.6. Immune Health
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. North America
9.2. Latin America
9.3. Europe
9.4. East Asia
9.5. South Asia
9.6. Oceania
9.7. Middle East & Africa
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
17. Country-level Market Analysis, 2022
18. Market Structure Analysis
19. Competition Analysis
19.1. Gencor Lifestage Solution
19.2. Abbott Pharmactive Biotech Products S.L.
19.3. CK Ingredients Inc.
19.4. Canapharma Inc.
19.5. Mind Nutrition Ltd
19.6. Natural Factors
19.7. Activ’Inside S.A.S
19.8. Allergy Research Group LLC
19.9. Nutricology
19.10. California Gold Nutrition
19.11. Dermo Manipulaes
19.12. Hepatika
19.13. Farmácia Avena Sativa
19.14. Saffr'Activ
19.15. Earths Secret
19.16. Others (on additional request)
20. Assumptions and Acronyms Used
21. Research Methodology
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Saffron Derivatives Market
