Saffron is a spice which is extracted from a flower known as saffron crocus. It is considered to be the world’s costliest spice which is rich in flavor, aroma, taste, and is healthy for consumption. The reason for its hefty price is the intensive harvesting method. The buds of the flower get developed into a full fledge flowers in the fall. Each of these flowers have three threadlike thing in the center. These must be removed very carefully by hand and dried accordingly. More than 80,000 of this flowers must be grown, cared, and hand-harvested and processed in order to make one pound of saffron. According to a research study, today, Spain is the largest producer of saffron in the world. It is used as coloring agent and flavoring agent and for aroma in the food and beverage industry.
The saffron market has observed an increasing value in the graph chart due to its application in the food & beverages, cosmetics & personal care, and pharmaceutical industry. It is used in many ways in the food and beverages industry such as flavoring agent and coloring agent. Saffron is used by the food manufacturers to enhance the aroma, taste, and flavor in food items and beverages. Saffron possesses properties including cancer reduction, antioxidant, maintains good cholesterol level, helps in lowering coronary heart disease, and maintaining normal blood pressure.
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Some Of The Leading Players In Global Market:
1. Eyjan Saffron
2. Novin Saffron
3. Grandor Co.
4. Shahri food productions group
5. Saffron International
6. Taj Agro International
Due to these properties consumers prefer to have food items and beverages flavored with saffron, which in turn is driving this market. However, saffron is one of the most costly spice in the market and the reason for its expensive nature is the intensive harvesting method which may hamper the market growth in the upcoming years. The global saffron market is witnessing a growing trend in the usage of saffron in regards to the food technology and formulation of new saffron products. Currently the innovative products like saffron cream powder, dessert powder, creme caramel powder, beverage powder, batter powder, cake mix, different semi-ready to use saffron soups and different saffron spice mixtures are becoming the new trend in the market which is increasing its demand.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Saffron market. The report presents a broad assessment of the market and contains solicitous insights, historical data, and statistically supported and industry-validated market data. The report offers market projections with the help of appropriate assumptions and methodologies. The research report provides information as per the market segments such as geographies, products, technologies, applications, and industries.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Saffron market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. Researchers also carry out a comprehensive analysis of the recent regulatory changes and their impact on the competitive landscape of the industry. The research assesses the recent progress in the competitive landscape including collaborations, joint ventures, product launches, acquisitions, and mergers, as well as investments in the sector for research and development.
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