SHERIDAN, WY, USA – According to IMARC Group’s latest report, titled “Saffron Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global saffron market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global market to grow at a CAGR of around 7% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
Saffron is an orange-yellow colored spice obtained from the dried stigma of the crocus sativus flower. It is rich in several vitamins and dietary minerals and exhibits antioxidant, anti-depressant, and antiseptic properties. As a result, it is used to treat cough, cold, asthma, and measles. It is also utilized in the manufacturing of food additives, aromas, dietary supplements, cosmetics, and skincare products across the globe.
Market Trends and Drivers:
The burgeoning cosmetics industry represents one of the key factors strengthening the saffron market growth. Saffron is used in the preparation of personal care products, such as cleansers, lotions, anti-blemish creams, and shampoos, on account of its skin-brightening and hair-strengthening properties. Besides this, it acts as an essential ingredient in medicines due to its anti-tumor and neuroprotective properties, which assist in treating macular degeneration, cancer, arthritis, and other cardiovascular diseases. Furthermore, the key players are introducing organic saffron, which is anticipated to expand the overall market reach.
(Source and courtesy: https://www.einnews.com/)