Key Highlights

The crocetin esters market was valued at USD 411.3 thousand in 2023, and it will increase to USD 634.3 thousand, advancing at a 6.5% compound annual growth rate, by 2030.

This is because of the increasing interest in plant-based and natural items as a replacement for synthetic ingredients in functional foods and dietary supplements.

The rising trends of health wellness, growing consumer consciousness, the regulatory situation, and the usage of these chemicals in nutrition and medicine are also helping the industry expand.

The continuing studies to explore the health benefits and viable applications of crocetin esters are further assisting the growth of the industry.

These mixtures are being examined for their possible role in decreasing oxidative stress, supporting cognitive well-being, and controlling CVDs.

The rising populace and the requirement to enhance food production are also aiding the growth of this industry.

With limited arable land in well-urbanized nations, it has become vital to enhance the productivity of the present farmlands.

Crocetin esters assist in optimizing the accessibility of nutrients for plants by reducing their draining, thus enhancing plant development, which can result in greater crop yields.

Market Insights

• Europe accounted for the largest share of the industry in 2023, with a 45% share.
• The dominance of this region in the enduring understanding of saffron as well as its acceptance.
• Saffron, from which crocetin esters are produced, has been farmed in various areas of this region for quite a long time, notably in Italy, Greece, and Spain.
• APAC will advance at the fastest compound annual growth rate, of 10%, in the years to come.
• This will be because of the region’s rising need for functional foods beverages and the growing concentration of the medical benefits linked to antioxidants.
• Natural as well as functional food ingredients are in high demand because customers in APAC nations become more conscious of their well-being.
• The functional food and beverage category accounted for the largest share of the industry in 2023, with a 60% share.
• Crocetin esters are progressively being employed in confectionery, dairy, beverages, and convenience foods, because of their important part in protecting these products’ stability.
• They, similarly, assist in increasing the taste, aroma, and assortment of food beverages.
• Functional foods fulfill people’s everyday nutrition requirements, as a result, customers are increasingly searching for them for their overall wellbeing.
  
• Pharmaceuticals will advance at a rapid compound annual growth rate, of 8%, in the years to come.
• Due to the robust anti-inflammatory, neuroprotective, and antioxidant features of crocetin esters, pharmaceutical firms have been progressively using them as APIs or various other ingredients in the formulations of drugs.
• A growing count of clinical trials and studies are being performed on these bioactive substances to explore their possible therapeutic applications for cardiovascular illnesses, neurological disorders, and tumors.
• In the crocetin esters industry, competition circles around the introduction of saffron-derived extracts and research on applications of these mixtures in cosmetics, functional foods, and pharmaceuticals.
• The competition in this industry is rather tough, with the existence of several globally operating and localized participants.

Source: PS Intelligence