Saffron Extract Market Outlook
The plethora of uses associated with saffron has contributed to its allure. Saffron is a red coloured dried stigma extracted from the Crocus Sativus Linnaeus plant. Saffron extract constitutes three significant components, namely, Picrocrocine, Safranal, and Crocine, which are responsible for the bitterness, colour, and aroma of saffron extract, respectively. In the food industry, saffron extract is used as a food colouring and flavouring agent, as it gives a passionate yellow colour to the food product, and adds a pleasing aroma and flavour to too. Apart from its application in the food industry, saffron extract is used in medicines and pharmaceuticals for preventing and curing illness. Saffron extract acts as an antitumor and antimutagen agent, and treats painful conditions such as kidney pain, stomach pain, and menstrual pain. It also protects the retina from direct bright light, and prevents macular degeneration and retinitis pigmentosa. Saffron extract is used to control skin inflammation, and speeds the healing of burns and cuts. Also, saffron extract pacifies nervous tension, and contributes to lessening the symptoms of depression and anxiety. Saffron extract finds potential as a weight loss supplement, which is alleged to limit appetite and condense cravings. With the increasing health conscious population, the demand for saffron extract as a weight loss supplement is growing.
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The versatility and proficiency of saffron makes it the king of spices, and opens the way for the saffron extract market:
The multifunctionality of saffron extract has resulted in increasing market opportunity for the same. With the growing food and beverage industry, the demand for saffron as a colouring and flavouring agent is growing. Besides, the health benefits associated with saffron extract are fuelling its demand in the market. Saffron extract is used in the formulation of medicines and pharmaceuticals due to its mutation preventing, anti-inflammatory, cancer suppressing, immune modulating, and antioxidant properties. With hectic lifestyles and increasing mental health issues in the population, the demand for saffron extract is expected to increase pace in the near future, as saffron extract is nowadays used as an antidepressant to pacify nervous tension and prevent symptoms such as anxiety, sociophobia, and loss of libido. Also, the potential of saffron extract as a dietary and weight loss supplement is expected to lead to growing market demand for the extract over the forecast year.
Saffron Extract Market: Market Segmentation
On the basis of nature, the global saffron extract market has been segmented as:
On the basis of form, the global saffron extract market has been segmented as:
On the basis of application, the global saffron extract market has been segmented as:
- Food Additives
- Medical and Pharmaceuticals
- Dietary Supplements
- Fragrance and Aromatherapy
- Cosmetics and Skin Care
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Global Saffron Extract Market: Market Participants:
The key market participants identified across the value chain of the global saffron extract market are Activ’Inside, Monteloeder, KINGHERBS, Green Plants Extracts, Safrante Global Company S.L.U., Rowhani SaffronCo., Hijos de Eustaquio Abad y Cía S.L., USMS Saffron Co.Inc, Royal Saffron Company, Novin Saffron Co., Gohar Saffron, and Azafranes Manchegos S.L.