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Saffron market accounted for US$ 374.6 billion in 2020 and is estimated to be US$ 816.39 billion by 2030 and is anticipated to register a CAGR of 8.2%. Saffron, which is made from the dried stigmas of Crocus sativa flowers, is a well-known spice with antidepressant properties. The most important bioactive elements of saffron are croc in, crocheting, safranal, and picrocrocin, which were discovered in a chemical examination of saffron extract. Saffron and its ingredients have antitumor effects through a variety of mechanisms, including (a) cell cycle arrest, (b) DNA and RNA synthesis inhibition, (c) ability to scavenge free radicals, (d) involvement in the metabolic conversion of carotenoids to retinoid, (e) direct or indirect interactions with topoisomerase II, (f) promotion of interactions mediated through lections, (g) down modulation of metalloproteinase
Analyst View:
The demand for saffron in cosmetic and medical applications is anticipated to be a major market driver in the future. Saffron contains a lot of antioxidants and has several health benefits. The main active substances in saffron are picrocrocin, safranal, and crocin. These substances help to lessen inflammation and oxidative stress in the brain. Also valued for its memory-improving, anti-inflammatory, and antioxidant properties, saffron is anticipated to grow in popularity. It is also used as a natural UV-absorbing component in the cosmetics industry.
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Segmentation:
The market for saffron in the world was worth US$ 374.6 billion in 2020, and it is projected to grow to US$ 816.39 billion by 2030, with a CAGR of 8.2%. The North American, European, Asian Pacific, Latin American, and Middle East & Africa regions make up the majority of the worldwide saffron market. The Asia Pacific region had the greatest revenue share in 2018, followed by the other regions, and it is anticipated that it will keep that position during the projected period. This is mostly because saffron is produced in greater quantities in nations like Iran and India and is used in numerous traditional dishes. The increased demand for saffron’s therapeutic benefits would also undoubtedly spur the expansion of the world saffron market in this area. Europe .
Key Players:
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Key Questions answered in the report:
Answer- Another factor driving the demand for saffron is its reputation as a premium and exclusive ingredient. Saffron is a high-value crop, as it takes a significant amount of labor to harvest the delicate stigmas from the saffron crocus flower. This, combined with the limited geographical area where saffron can be cultivated, gives saffron a luxury status.
Answer- The use of saffron in food and beverage is likely to continue to be a major application, as saffron is valued for its distinct flavor, aroma, and color. Additionally, the growing interest in natural and organic food ingredients is expected to further boost the demand for saffron in the food industry.
Answer- In terms of consumption, the largest markets for saffron are in Europe, particularly in Spain, Italy, and France. The Middle East, including Iran, is also a significant consumer of saffron, as well as countries in Asia and North America.
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