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North America Saffron Supplements Market is Segmented by Distribution Channel (Online Retailing Channel and Offline Retailing Channel) and Geography
Fastest Growing Segment:
Online Retailing Channe
North America saffron supplements market is projected to reach USD 144.67 million by 2025 growing at a CAGR of 4.1% during the forecast period.
Saffron supplements are composed of bioactive compounds extracted from saffron (Crocin), which have numerous health benefits and medicinal properties. North America is the largest consumer of saffron, with most of it imported. The North America saffron supplements market is segmented by distribution channel and Geography. By distribution channel, the market is segmented as an online retailing channel and offline retailing channel.
|Online Retailing Channel|
|Offline Retailing Channel|
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Saffron contains crocin, which is a major compound that offers numerous health benefits, for which, it has high demand among all age groups. It was found that the active component in saffron crocin has anti-depressant, anti-inflammatory, anti-convulsant, which improves memory. Saffron is also effective in treatment of anxiety attacks, which has become very common among the adult age groups, owing to modern lifestyles. Around 30% of the global population is suffering from severe anxiety disorder. Selective serotonin inhibitors are mostly recommended for the treatment of anxiety disorders, which has negative side-effects from nausea to sexual disorders. However, saffron-active component, crocin, and safranal treat the anxiety effect without harmful side-effects.
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The United States is the leading market for saffron applications in nutraceuticals and pharmaceutical sectors. The increased health awareness drives consumers in the country's market, toward health supplements. Though there is a decline in the anti-depressant market in the country, the fastest growing health supplement segment supports the market growth. Spain accounts for 87% of the import market of the United States. The sanction of ban on import of saffron from Iran made the United States to become highly dependent on Spain for saffron. However, the recent lifting of ban is expected to boost the trade and consumption of saffron in the country. In recent years, the saffron production has concentrated in some regions, though the country is highly dependent on import. The high cost of raw material for the drug industry is the major restraint for the saffron market in the United States. However, the quality of saffron imported by the United States is of different grade.
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Major strategies adopted by players in the saffron supplements market are partnerships, followed by new product launches. The expansion is another major strategy adopted by these players to sustain the market competition. Major players in the market are LEAN Nutraceuticals, Epicure Garden and Lean Nutraceuticals, among others.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Online Retailing Channel
5.1.2 Offline Retailing Channel
5.2.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
6. COMPETITIVE LANDSCAPE
6.1 Strategy Adopted By Major Players
6.2 Market Share Analysis
6.3 Most Active Players In The Market
6.4 Company Profiles
6.4.1 Lean Nutraceuticals, Inc.
6.4.2 Persavita, Inc.
6.4.3 Epicure Garden
6.4.4 Vox Nutrition
6.4.5 Life Extension
6.4.6 Hortus Novus SRL
6.4.7 Sarl Activ'inside
7. MARKET OPPORTUNITIES AND FUTURE TRENDS