The global saffron market size was US$ 369.9 million in 2021. The global saffron market is forecast to grow to US$ 819.1 million by 2030 by growing at a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market
The rising awareness about the benefits of natural products is primarily driving the growth of the global saffron market. Furthermore, the presence of a large number of companies offering different forms of natural products will benefit the global saffron market during the forecast period.
The fact that saffron is rich in protein and acts as an anti-depressant, anti-oxidant, and antiseptic will contribute to the growth of the global saffron market during the study period. In addition, the beneficial medical applications of saffron in the treatment of asthma, sneezing, and cold will drive the market forward. Moreover, the global saffron market is also driven by the rising prevalence of diseases, such as cancer. Cancer is considered to be the leading cause of death, recording nearly a million premature deaths in 2020. Thus, it will boost the growth of the saffron market.
Saffron also helps in enhancing memory, which will escalate market growth. In addition to that, the use of saffron in prescription drugs and for treating tumors will drive the saffron market forward.

COVID-19 Impact Analysis
The wake of the COVID-19 pandemic highlighted the need to look over pharmaceuticals and medical sectors. Thus, government authorities increased their investments in this sector. In addition to that, a significant rise in the demand for drugs further surged the use of saffron during the pandemic period.

Regional Analysis
The Asia-Pacific market for saffron is expected to emerge as the largest market in terms of revenue. It is primarily attributed to the presence of leading manufacturers in countries like India and China. Furthermore, it is used in the making of traditional food and medicines, which will drive the Asia-Pacific saffron market forward.
The product is also used as the major ingredient in various supplements. Thus, it will fuel the growth of the global saffron market. Moreover, Europe is forecast to register a significant growth rate in the saffron market, owing to the growing packaged food industry in the region. Furthermore, the rising demand for packed food products and the presence of a large number of frozen food manufacturers will contribute to the growth of this regional saffron market.

Competitors in the Market
Esfedan Trading Company
Flora Saffron
Gohar Saffron
Iran Saffron
Mehr Saffron
Rowhani Saffron Co.
Royal Saffron Company
Saffron Group
Safran Global Company S.L.U.
Tarvand Saffron Co.
Other Prominent Players

Market Segmentation
The global saffron market segmentation focuses on Type, Grade, Form, Application, and Region.
By Type
Organic
Conventional
By Grade
Grade I
Grade II
Grade III
Grade IV
By Form
Thread
Powder
Liquid
By Application
Food
Medical
Cosmetics
Others
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America