| Product Code: ETC8838873 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Dhaval Chaurasia | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The Philippines` crocin import market in 2024 continued to be dominated by imports from key players such as Indonesia, India, Vietnam, China, and Thailand. Despite a high concentration level indicated by the Herfindahl-Hirschman Index (HHI), the market experienced a significant growth spurt with a remarkable 26.38% increase in shipments from 2023 to 2024. However, the compound annual growth rate (CAGR) for the period 2020-2024 was negative at -10.56%, suggesting potential challenges or fluctuations in the market dynamics during this period.

Crocin, the active compound in saffron with antioxidant benefits, is gaining attention in the pharmaceutical and dietary supplement industries. In the Philippines, it serves a niche market for brain health, eye care, and anti-inflammatory applications. Limited local production means most products are imported, but rising health trends may spur greater demand.
As a common over-the-counter analgesic, the market for Crocin (paracetamol) remains strong in the Philippines. Demand is driven by everyday use in household medicine cabinets, along with rising consumer awareness of fever and pain management, encouraging consistent sales growth.
Crocin, largely derived from saffron, faces availability and cost issues in the Philippines due to the absence of local cultivation. Import duties and limited awareness about its health benefits reduce market demand. Additionally, Crocins integration into food or pharmaceutical products is hampered by regulatory barriers and lack of standardized testing protocols.
Crocin, a bioactive compound from saffron, is used in both dietary supplements and pharmaceutical formulations. Investors can explore importing high-quality crocin for distribution through pharmacies and health food channels. There is also potential to develop branded wellness products and eye health supplements that appeal to the aging population and urban health-conscious consumers.
Crocin, a saffron-derived compound, falls under the FDAs regulation of dietary supplements and pharmaceutical products. Policies emphasize compliance with labeling, dosage, and efficacy standards. Government programs promoting traditional and alternative medicines also create a favorable regulatory environment for Crocin-based products.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Philippines Crocin Market Overview |
3.1 Philippines Country Macro Economic Indicators |
3.2 Philippines Crocin Market Revenues & Volume, 2021 & 2031F |
3.3 Philippines Crocin Market - Industry Life Cycle |
3.4 Philippines Crocin Market - Porter's Five Forces |
3.5 Philippines Crocin Market Revenues & Volume Share, By Purity, 2021 & 2031F |
3.6 Philippines Crocin Market Revenues & Volume Share, By Indication, 2021 & 2031F |
3.7 Philippines Crocin Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.8 Philippines Crocin Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Philippines Crocin Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing awareness about the benefits of crocin in treating pain and fever among the population |
4.2.2 Growing health consciousness and preference for natural remedies in the Philippines |
4.2.3 Rising incidence of conditions requiring pain relief medications like headaches, body aches, and fever |
4.3 Market Restraints |
4.3.1 Stringent regulations and government policies related to pharmaceutical products in the Philippines |
4.3.2 Presence of alternative pain relief products in the market, leading to competition |
4.3.3 Economic downturn affecting consumer spending on healthcare products |
5 Philippines Crocin Market Trends |
6 Philippines Crocin Market, By Types |
6.1 Philippines Crocin Market, By Purity |
6.1.1 Overview and Analysis |
6.1.2 Philippines Crocin Market Revenues & Volume, By Purity, 2021- 2031F |
6.1.3 Philippines Crocin Market Revenues & Volume, By Purity >98%, 2021- 2031F |
6.1.4 Philippines Crocin Market Revenues & Volume, By Purity <98%, 2021- 2031F |
6.2 Philippines Crocin Market, By Indication |
6.2.1 Overview and Analysis |
6.2.2 Philippines Crocin Market Revenues & Volume, By Pain, 2021- 2031F |
6.2.3 Philippines Crocin Market Revenues & Volume, By Pyrexia (Fever), 2021- 2031F |
6.3 Philippines Crocin Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 Philippines Crocin Market Revenues & Volume, By Food, 2021- 2031F |
6.3.3 Philippines Crocin Market Revenues & Volume, By Chemical Industry, 2021- 2031F |
6.3.4 Philippines Crocin Market Revenues & Volume, By Drug, 2021- 2031F |
6.3.5 Philippines Crocin Market Revenues & Volume, By Others, 2021- 2031F |
6.4 Philippines Crocin Market, By Distribution Channel |
6.4.1 Overview and Analysis |
6.4.2 Philippines Crocin Market Revenues & Volume, By Hospital Pharmacy, 2021- 2031F |
6.4.3 Philippines Crocin Market Revenues & Volume, By Retail Pharmacy, 2021- 2031F |
6.4.4 Philippines Crocin Market Revenues & Volume, By Others, 2021- 2031F |
7 Philippines Crocin Market Import-Export Trade Statistics |
7.1 Philippines Crocin Market Export to Major Countries |
7.2 Philippines Crocin Market Imports from Major Countries |
8 Philippines Crocin Market Key Performance Indicators |
8.1 Number of health education campaigns conducted to promote the benefits of crocin |
8.2 Percentage increase in the number of pharmacies stocking crocin |
8.3 Growth in the number of prescriptions for crocin from healthcare professionals |
9 Philippines Crocin Market - Opportunity Assessment |
9.1 Philippines Crocin Market Opportunity Assessment, By Purity, 2021 & 2031F |
9.2 Philippines Crocin Market Opportunity Assessment, By Indication, 2021 & 2031F |
9.3 Philippines Crocin Market Opportunity Assessment, By Application, 2021 & 2031F |
9.4 Philippines Crocin Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Philippines Crocin Market - Competitive Landscape |
10.1 Philippines Crocin Market Revenue Share, By Companies, 2024 |
10.2 Philippines Crocin Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |