Saffron extract is a product extracted from the upper part of the style and stigma of Crocus sativus L., a plant in the family Iridaceae. It contains various active ingredients, such as saffron extract, carotenoids, safflower aldehyde, eucalyptus oil extract, pinene, etc., which endow saffron extract with multiple pharmacological effects.
The main active ingredients of saffron extract include saffron glycoside, saffron aldehyde, and saffron acid. Among them, crocin is a mixed compound mainly composed of crocin-1, which has various physiological activities. Saffron aldehyde is the main aroma source of saffron, with neuroprotective and anti-inflammatory effects. Saffron acid is a high affinity NMDA receptor antagonist that can penetrate the blood-brain barrier.
Market Development Status Analysis and Prospect Prediction
Market Size and Growth: The global saffron extract market continues to grow in size. According to our research data, the estimated global saffron extract market size in 2024 is $616 million, a 4.64% increase from 2023, and is expected to continue growing to $718 million by 2029. The CAGR for 2024-2029 is estimated to be 3.11%.
Market Driving Factors: The increasing preference of consumers for natural and organic products, the increase in international trade, and the deepening of globalization are the main factors driving market growth.
Prospect Forecast: It is expected that the saffron extract industry will continue to maintain its growth momentum in response to the demand of modern consumers for natural and healthy supplements. Technological innovation and market expansion will drive wider applications and deeper market penetration.
Segmented Market Analysis
From the perspective of product types, saffron extract can usually be classified into thread, powder, and liquid forms depending on forms. Among them, the thread saffron extract dominates the market, with an estimated market share of 62.71% in 2024.
From the perspective of downstream applications, saffron extract is widely used in fields such as food, medicine, and cosmetics. Among them, the food industry is the largest downstream application market, with an estimated application share of 64.94% in 2024.
Global Saffron Extract Market Revenue Forecast and Market Segment Analysis
Source: www.globalmarketmonitor.com
Market Analysis of Major Regions/Countries
From a regional perspective, Europe is the largest revenue market for saffron extract worldwide. Data shows that the revenue of the European saffron extract market is expected to reach $416 million in 2024, with an estimated market share of 67.58%. From a national perspective, countries such as the United States, China, Japan, and India are also important components of the global saffron extract market, occupying a certain market share.
Global Saffron Extract Market Revenue and Market Share by Region Forecast in 2024
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Regions/Countries
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Market Revenue (Million USD)
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Market Share
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US
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41.00
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6.66%
|
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Europe
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416.00
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67.58%
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China
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52.66
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8.55%
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Japan
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11.32
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1.84%
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India
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14.45
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2.35%
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Southeast Asia
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8.66
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1.41%
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Latin America
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14.64
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2.38%
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Middle East & Africa
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32.64
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5.30%
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Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Saffron Extract Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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