Saffron Market Size Is Expected To Reach USD 721.5 Million By 2028
San Francisco, 28 Dec 2021: The Report Saffron Market Size, Share & Trends Analysis Report By Application (Cosmetics, Food, Medical), By Grade (Grade I, II, III, IV), By Region (APAC, MEA, North America, Europe), And Segment Forecasts, 2020 - 2028 The global saffron market size is expected to reach USD 721.5 million by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.5% over the forecast period. The demand for saffron has been growing rapidly owing to several factors, such as the growing demand for natural ingredients in the food industry. Furthermore, the medicinal properties of saffron have also been one of the key driving factors contributing to the growth of the market. Saffron is the most versatile and costliest spice in the world. Saffron is the dry stigma of Crocus Sativus, where each flower has only 3 stigmas. The process of handpicking the saffron thread is very labor-intensive and over 70,000 flowers produce 1 pound of saffron.