In 2024, the total value of saffron exported worldwide reached US$253.3 million. Known for its rich culinary uses, the spice is also widely used in traditional medicine, textile dyes, perfumes, and even in religious rituals, particularly in India. With its distinct sweet, honeyed fragrance and subtle hay-like undertones, saffron remains one of the most sought-after spices globally.

Global saffron exports have fallen sharply over the last five years, declining 32% from $372.8 million in 2020. On a year-over-year basis, export revenues plummeted 38.1% compared to $409 million in 2023.

The five leading exporters in 2024 were Iran, Afghanistan, Spain, the Netherlands, and France, accounting for a combined 88.8% of global saffron export value.

By continent, Asia was the dominant supplier, shipping saffron worth $167.1 million (66% of global total). Europe followed at 33.2%, while other regions played much smaller roles: North America (0.6%), Africa (0.2%), Latin America & the Caribbean (0.1%), and Oceania (0.01%), primarily Australia and New Zealand.

The top five saffron importers in 2024 were Spain, India, Italy, Saudi Arabia, and the United States. Together, these nations purchased 62.4% of global saffron imports by total value.

This data shows that saffron exports are more concentrated than imports: there are 78 active exporting countries, with the top five responsible for 88.8% of global shipments, versus roughly 150 importing nations, where the top five account for a smaller 62.4% share.

From a continental lens, Europe led saffron imports with 50.7% of total purchases, followed by Asia (37.6%), North America (8.8%), Latin America (1.6%) (excluding Mexico but including the Caribbean), Oceania (0.8%), and Africa (0.5%).

For reference, the Harmonized Tariff System (HTS) code used for saffron is 091020.

Top Saffron Exports by Company

According to Tendata Global Trade Data, below are the top 10 saffron export companies in 2024:

1.NİSHANE İSTANBUL TASARIM ORGANİZASYON TURİZM TİCARET VE SANAYİ ANONİM ŞİRKETİ(15.53%, $6.42 Million)

2.CÔNG TY CỔ PHẦN XUẤT NHẬP KHẨU HÀNG KHÔNG(11.06%, $4.57 Million)

3.INTERGLOBE AVIATION LTD(8.56%, $3.54 Million)

4.CÔNG TY CỔ PHẦN DỊCH VỤ KỸ THUẬT HÀNG KHÔNG(7.39%, $3.06 Million)

5.CÔNG TY TRÁCH NHIỆM HỮU HẠN MỘT THÀNH VIÊN KỸ THUẬT MÁY BAY(5.05%, $2.09 Million)

6.ELITE BASKET PRIVATE LIMITED(4.1%, $1.7 Million)

7.SAFRAN LANDING SYSTEMS(2.87%, $1.19 Million)

8.CONVENIENCE FOOD INDUSTRIES PRIVATE LIMITED(2.18%, $0.9 Million)

9.АО КАЗАВИАСПАС(1.81%, $0.75 Million)

10.CÔNG TY CỔ PHẦN HÀNG KHÔNG TRE VIỆT(1.52%, $0.63 Million)

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Top Saffron Imports by Company

According to Tendata Global Trade Data, below are the top 10 saffron import companies in 2024:

1.ELITE BASKET PRIVATE LIMITED(14.05%, $26.99 Million)

2.BMB SHIFO MAS ULIYATI CHEKLANGAN JAMIYATI(8.36%, $16.06 Million)

3.CHANDI AGRO ORGANIC PRODUCTS PRIVATE LIMITED(6.21%, $11.93 Million)

4.BMB SHIFO LLC(6.09%, $11.7 Million)

5.KALYANI STRATEGIC SYSTEMS LIMITED(5.35%, $10.27 Million)

6.TỔNG CÔNG TY XUẤT NHẬP KHẨU TỔNG HỢP VẠN XUÂN(5.17%, $9.93 Million)

7.CÔNG TY CỔ PHẦN HÀNG KHÔNG VIETJET(4.24%, $8.15 Million)

8.АО ЭЙР АСТАНА(4.06%, $7.79 Million)

9.ALOKOZAY SAFFRON PRIVATE LIMITED(2.25%, $4.32 Million)

10.GROCERIES IMPEX(2%, $3.84 Million)

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Top Saffron Exporting Countries

The following are the 15 countries that recorded the highest export values for saffron in 2024, regardless of whether the spice was packaged or in bulk.

1.Iran: US$95.5 million (37.7% of total saffron exports)

2.Afghanistan: $60.4 million (23.9%)

3.Spain: $56.2 million (22.2%)

4.Netherlands: $8.6 million (3.4%)

5.France: $4.3 million (1.7%)

6.United Arab Emirates: $4.1 million (1.6%)

7.India: $3.6 million (1.4%)

8.Belgium: $2.6 million (1%)

9.Poland: $2.5 million (1%)

10.Greece: $2.4 million (0.9%)

11.Italy: $2.2 million (0.9%)

12.Germany: $1.7 million (0.7%)

13.United States: $1.1 million (0.5%)

14.Austria: $982,000 (0.4%)

15.Mainland China: $886,000 (0.3%)

These 15 nations accounted for 97.6% of all saffron exported globally in 2024.

Among the biggest gainers compared to 2023 were:

·India (up 497%)

·Mainland China (up 172.6%)

·Netherlands (up 160.6%)

·Belgium (up 116.5%)

On the other hand, major suppliers that saw declines included:

·United Arab Emirates (down -69.1%)

·Iran (down -62.3%)

·Austria (down -5.2%)

Top Saffron Importing Countries

In 2024, global saffron imports were valued at US$243 million, reflecting a -12.35% decrease over five years since 2020 and a similar -12.37% drop year-on-year from 2023.

The 15 largest saffron import markets by dollar value were:

1.Spain: US$56.3 million (23.2% of total saffron imports)

2.India: $38.2 million (15.7%)

3.Italy: $19.5 million (8%)

4.Saudi Arabia: $19.3 million (7.9%)

5.United States: $18.2 million (7.5%)

6.Mainland China: $16.4 million (6.8%)

7.France: $11.7 million (4.8%)

8.Sweden: $7.8 million (3.2%)

9.Germany: $6.1 million (2.5%)

10.Kuwait: $6 million (2.4%)

11.United Kingdom: $5.7 million (2.4%)

12.United Arab Emirates: $4.5 million (1.9%)

13.Switzerland: $4.4 million (1.8%)

14.Belgium: $3.5 million (1.4%)

15.Argentina: $2.6 million (1.1%)

Altogether, these markets were responsible for 90.6% of the world’s saffron imports in 2024.

Fastest-growing import markets since 2023 included:

·Belgium (up 58.2%)

·Italy (up 35.7%)

·Spain (up 24.6%)

·Germany (up 18.3%)

Conversely, the steepest import declines were recorded by:

·United Arab Emirates (down -76.3%)

·Mainland China (down -38.1%)

·Kuwait (down -29.3%)

·Argentina (down -19.8%)

·Saudi Arabia (down -1.2%)