Global Chicory Market – Industry Trends and Forecast to 2029

Chicory Market Analysis and Size

The food and beverage industry is expected to play an important role in the growth of the chicory market in the coming decade, as manufacturers focus on producing low-calorie sweeteners with the help of chicory, while ensuring the final products' taste, texture, and shelf-life stability.

Data Bridge Market Research analyses that the chicory market which was valued at USD 693.56 million in 2021 is expected to reach the value of USD 1,165.20 million by 2029, at a CAGR of 6.70% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Chicory Market  Scope and Segmentation

Market Definition

Chicory, also known as Cichorium intybus, is a dandelion-like woody herbaceous plant grown primarily for its leaves and roots. Chicory root is high in inulin, a type of prebiotic fibre linked to weight loss and improved gut health. According to research, chicory is a safe alternative to a number of ingredients in a variety of applications, including food and beverages, dietary supplements, feed and pet food, and cosmetics.

Drivers:

• Growing need for low-calorie food products due to growing diabetic patients

Sugar reduction is one of the most recent innovations in the food and beverage industry. Chicory root fibre has been shown to help reduce sugar intake by improving taste and texture, leading to its increased use in the food and beverage industry. While chicory leaves and roots have been used in salads and a variety of inventive and delicious recipes for many years. Chicory is used to treat a variety of health problems, including liver and gallbladder disorders, cancer, and other acute gastrointestinal issues. Aside from these health benefits, it is also thought to be a tonic for increasing urine production, protecting the liver, and counteracting the stimulant effect of coffee.

• Technological advancements and developments of improved systems

Soft drinks, frozen desserts, confectioneries, infant formula, yoghurts, chewing gums, and other applications for chicory are likely to create significant opportunities for chicory manufacturers. Manufacturing technology advancements, the introduction of efficient purification systems, new substrates and enzymes, and the development of recombinant enzymes have all resulted in lower chicory manufacturing costs.

Opportunity

Companies are focusing on improving technology for extending the life of chicory products in applications such as animal nutrition, beverages, and dairy products at the regional level. Furthermore, in order to provide price advantages to companies, a few regional and local players have begun offering chicory at comparatively lower prices, primarily in China and India. Furthermore, the rising demand for functional beverage and food products in these countries is expected to expand the opportunities for new entrants into the chicory markets in the near future.

Restraints

Despite its popularity as a caffeine-free substitute for coffee, chicory lacks the same qualities as coffee. The coffee bean has a distinct taste and aroma of dark coffee. Chicory coffee, on the other hand, has a slightly bitter flavour with a nutty and herbal undertone. People who are used to the taste of coffee may find it difficult to replace it with chicory, which could be a hindrance to the chicory market in the near future.

This chicory market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Chicory market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Post COVID-19 Impact on Chicory Market

To stay healthy during the pandemic, consumers stacked products with high nutritional value. As a result of the pandemic, sales have stabilised to some extent, consumers have adjusted to a new normal lifestyle, and an increasing number of consumers prefer quick and nutritious snacking options. COVID-19 allowed a slew of new private firms to enter the market in order to meet the market's ongoing demand.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Chicory Market Scope

The chicory market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Chicory Root
• Chicory Leaf
• Chicory Flour
• Roasted Chicory
• Chicory Inulin
• Others

Application

• Food & Beverages
• Dietary Supplement
• Health Care Products
• Medicines
• Others

Chicory Market Regional Analysis/Insights

The chicory market is analysed and market size insights and trends are provided by country, product type and application as referenced above.

The countries covered in the chicory market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the chicory market due to rising consumption of chicory coffee, rising health awareness among people, and rising demand for sugar substitutes.

 North America is expected to grow from 2022 to 2029 due to rising production and consumption, as well as rising health awareness among people.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Chicory Market Share Analysis

The chicory market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to chicory market.

Some of the major players operating in the chicory market are:

• COSUCRA. (Belgium)
• Delecto Foods Pvt Ltd (India)
• BENEO (Germany)
• Cargill Incorporated (US)
• REILY FOODS COMPANY (US)
• Pioneer Chicory (India)
• PMV Nutrient Products Pvt Ltd. (India)
• Farmvilla Food Industries Pvt Ltd (India)
• Murlikrishna Foods Pvt Ltd (India)
• Starwest Botanicals. (US)
• STOKROS Company Ltd (Russia)
• Natures Gold (Netherlands)
• Organic Herb Trading (UK)
• Shaanxi Sciphar Natural Product Co Ltd. (China)
• Jamnagar Chicory Industries (India)
• H&C GROUP OF COMPANIES (India).

SKU-53974