Blood flow velocity and red blood cell concentration are of vital importance in assessing tissue microcirculation. Laser speckle contrast analysis is being considered as a promising tool in the qualitative assessment of flow velocity as well as scatterer concentration in different body fluids, though the quantification part still remains challenging. The fractal-based spatial correlation analysis of speckle flow images along with the corresponding contrast analysis for the quantitative assessment of flow and scatterer concentration is investigated. In this study, phantom body fluid solution (intralipid 20%) of different concentrations is pumped at different flow rates through the designed flow channel using a syringe pump and the corresponding speckle images are acquired. The fractality of the acquired speckle images in response to the changes in concentration of the fluid as well as the variations in fluid flow is analyzed along with the corresponding contrast-based analysis. Following this qualitative analysis, an experimental model is attempted toward quantification of these parameters from a single acquired speckle image by considering the contrast and fractality changes together.