Saffron Oil Market Regional Analysis

Saffron is native to Southwest Asia. The main nations that produce saffron are Iran, India, Greece, Spain, Morocco, Italy, and Azerbaijan, while Europe and North America are the two regions that import the most saffron extract. Due to the enormous popularity of saffron spice as a food coloring and flavoring agent, saffron extract will experience an increase in demand in areas like Western Europe and Asia Pacific. The demand for saffron extract is anticipated to increase throughout the forecast period due to the growing number of preventive and therapeutic health benefits it offers.

In 2021, the Middle East and African region is expected to have the biggest market share. Attributing to the factors such as an increased saffron product across these MEA countries is one of the major aspects that contributes to the regional growth of the market. Apart from these, the North American and Asia-Pacific region are also likely to witness a significant growth in the market. The regional growth of the market is attributed to the presence of a large number of saffron oil players in the region along with an increased demand from the food and beverage industry in the regions.