SAFFRON MARKET ANALYSIS

Key Developments

• In 2023, a Spain-based biotechnology company, Natac, announced its acquisition of the France-based firm, Inoreal, to enhance its saffron product offerings. This strategic move will leverage Inoreal's brands, Satieral—known for its weight loss benefits and Moodreal. Natac anticipates an eight-fold increase in saffron production over the next three years and is also looking to explore opportunities in the Latin American market, further expanding its reach and impact in the industry.
• In 2023, Tata Consumer Products made a strategic move into the premium Kashmiri saffron market by launching its Himalayan brand's Grade 1 saffron. This high-quality offering caters to the growing demand for authentic and pure saffron, leveraging Tata's expertise in the consumer goods sector. By introducing Grade 1 Kashmiri saffron under its well-established Himalayan brand, Tata Consumer Products aims to provide consumers with a trusted and superior saffron experience, further solidifying its position in the Indian spice and condiment market.
• In 2022, SoulTree, a brand renowned for its Ayurvedic beauty and wellness products, introduced its Advanced Kumkumadi line. This exclusive range is formulated using 100% pure, certified organic Mogra saffron, adhering to the core principles of Ayurvedic traditions. 
• In 2022, Veggitech inaugurated a saffron farm in the Mena region, specifically in Sharjah, U.A.E. This innovative farm utilizes smart built-in systems to optimize the farming process, enhancing efficiency and productivity. The initiative aligns with the U.A.E's National Food Security Strategy for 2051, demonstrating Veggitech's commitment to sustainable agriculture and contributing to the country's long-term food security goals.