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World - Spices - Market Analysis, Forecast, Size, Trends and Insights

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Saffron Price in Indian Market

Saffron, also known as kesar, is the most expensive spice in the world and has been long associated with Indian culture and cuisine. It is derived from the flower of Crocus sativus, commonly known as saffron crocus. India is one of the major producers of saffron and its market has witnessed fluctuations in the price of this precious spice over the years.

The price of saffron in the Indian market is determined by several factors including supply and demand dynamics, weather conditions, production techniques, and the quality of the saffron itself. Saffron production is highly labor-intensive as the stigma of each flower needs to be handpicked, making it a time-consuming and costly process.

The Indian saffron market mainly consists of two types of saffron - Kashmiri saffron and Iranian saffron. Kashmiri saffron, also known as Pampore saffron, is predominantly produced in the state of Jammu and Kashmir. On the other hand, Iranian saffron is imported into India and is often considered more affordable compared to Kashmiri saffron.

The price of saffron is generally quoted per gram or per kilogram. Currently, in the Indian market, the average price of Kashmiri saffron ranges from ₹2,000 to ₹2,500 per gram, which makes it one of the costliest spices available. The price of Iranian saffron, on the other hand, ranges from ₹1,000 to ₹1,500 per gram.

The price of saffron can vary based on the quality and grade. Saffron is classified into different grades including Negin, Sargol, and Pushal. Negin is considered the highest grade with long, dark red threads, followed by Sargol with shorter threads and a stronger color. Pushal is the lowest grade with yellow-orange threads. The grading and quality of saffron play a significant role in determining its price.

The demand for saffron in the Indian market is driven by its use in various culinary preparations, Ayurvedic medicines, and religious rituals. Saffron is widely used in Indian sweets like kheer, biryani, and pulao to enhance the flavor, aroma, and color of the dishes. It is also used in the preparation of herbal teas and as a natural food coloring agent.

In recent years, the price of saffron in the Indian market has witnessed a gradual increase due to factors such as climate change affecting saffron cultivation, limited availability, and growing demand. Additionally, the COVID-19 pandemic has also impacted the saffron market, leading to supply chain disruptions and fluctuations in prices.

Overall, the saffron market in India is influenced by various factors and the price of saffron can vary based on quality, origin, and market conditions. It continues to be a highly sought-after spice due to its unique flavor, aroma, and vibrant color, making it an invaluable ingredient in Indian cuisine and culture.

This report provides an in-depth analysis of the global spice market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 687 - Pepper
FCL 689 - Pimento
FCL 692 - Vanilla
FCL 693 - Cinnamon (canella)
FCL 698 - Cloves
FCL 702 - Nutmeg, mace, cardamoms
FCL 711 - Anise, badian, fennel
FCL 720 - Ginger
FCL 723 - Spices nes

Country coverage:

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

Global market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Global production, split by region and country
Global trade (exports and imports)
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Company coverage:

Ajinomoto Co., Inc., Ariake Japan Company Limited, Ariake Japan Company Limited, Asenzya, British Pepper & Spice Co., Ltd., B&G Foods, Inc., CaJohns Fiery Foods

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
3. HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Harvested Area, By Country, 2012-2023
7. Yield, By Country, 2012-2023
8. Imports, In Physical Terms, By Country, 2012–2023
9. Imports, In Value Terms, By Country, 2012–2023
10. Import Prices, By Country Of Destination, 2012–2023
11. Exports, In Physical Terms, By Country, 2012–2023
12. Exports, In Value Terms, By Country, 2012–2023
13. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Yield And Growth
12. Exports And Growth
13. Export Prices And Growth
14. Market Size And Growth
15. Per Capita Consumption
16. Imports And Growth
17. Import Prices
18. Production, In Physical Terms, 2012–2023
19. Production, In Value Terms, 2012–2023
20. Area Harvested, 2012–2023
21. Yield, 2012–2023
22. Production, By Country, 2023
23. Production, In Physical Terms, By Country, 2012–2023
24. Harvested Area, By Country, 2023
25. Harvested Area, By Country, 2012-2023
26. Yield, By Country, 2012-2023
27. Imports, In Physical Terms, 2012–2023
28. Imports, In Value Terms, 2012–2023
29. Imports, In Physical Terms, By Country, 2023
30. Imports, In Physical Terms, By Country, 2012–2023
31. Imports, In Value Terms, By Country, 2012–2023
32. Import Prices, By Country, 2012–2023
33. Exports, In Physical Terms, 2012–2023
34. Exports, In Value Terms, 2012–2023
35. Exports, In Physical Terms, By Country, 2023
36. Exports, In Physical Terms, By Country, 2012–2023
37. Exports, In Value Terms, By Country, 2012–2023
38. Export Prices, 2012–2023