Global Chicory Root Market, By Product Type (Chicory Root Inulin, Chicory Root Powder), Distribution Channel (B2B, B2C), End-Use Industry (Food and Beverages, Pharmaceutical Industry, Nutraceuticals) – Industry Trends and Forecast to 2029.
Chicory Root Market Analysis and Size
The food and beverage industry is expected to play an important role in the growth of the chicory root market in the coming decade, as manufacturers focus on producing low-calorie sweeteners with the help of chicory root, while ensuring the final products' taste, texture, and shelf-life stability.
Data Bridge Market Research analyses that the chicory root market which was valued at USD 193.56 million in 2021 is expected to reach the value of USD 308.51 million by 2029, at a CAGR of 6.00% 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 Root Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2022 to 2029
|
|
Base Year
|
2021
|
|
Historic Years
|
2020 (Customizable to 2014 - 2019)
|
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Product Type (Chicory Root Root Inulin, Chicory Root Root Powder), Distribution Channel (B2B, B2C), End-Use Industry (Food and Beverages, Pharmaceutical Industry, Nutraceuticals),
|
|
Countries Covered
|
U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
|
|
Market Players Covered
|
COSUCRA. (Belgium), Delecto Foods Pvt Ltd (India), BENEO (Germany), Cargill, Incorporated (U.S.), Reily Foods Company (U.S.), Pioneer Chicory Root (India), PMV Nutrient Products Pvt Ltd. (India), Farmvilla Food Industries Pvt Ltd (India), Murlikrishna Foods Pvt Ltd (India), Starwest Botanicals. (U.S.), STOKROS Company Ltd (Russia), Natures Gold (Netherlands), Organic Herb Trading (U.K.), Shaanxi Sciphar Natural Product Co Ltd. (China), Jamnagar Chicory Root Industries (India), Herbs & Crops Overseas (India).
|
|
Opportunities
|
|
Market Definition
Chicory Root, also known as Cichorium intybus, is a dandelion-like woody herbaceous plant grown primarily for its leaves and roots. Chicory was first discovered in Europe and Asia. It was grown as a medicine by the Egyptians thousands of years ago. Since ancient times, the dried roots of the chicory plants have been used as a medicine, and the dried and roasted root is used as a substitute for coffee because it contains no caffeine. Chicory root is high in inulin, a type of prebiotic fibre linked to weight loss and improved gut health. Chicory root 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.
Global Chicory Root Market Dynamics
Drivers:
- Chicory root as a healthy substitute
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 root leaves and roots have been used in salads and a variety of inventive and delicious recipes for many years. Chicory root 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 root are likely to create significant opportunities for chicory root 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 root manufacturing costs.
Opportunity
- Adoption in varieties of end users
On a regional level, companies are focusing on improving technology for chicory root product life enhancement in applications such as animal nutrition, beverages, and dairy products. Furthermore, in order to provide price advantages to companies, a few regional and local players have begun offering chicory root 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 root markets in the near future.
Restraints
- Side effects
However, some cases of side effects caused by the consumption of chicory roots, such as skin rashes and other allergies, as well as miscarriages observed due to the consumption of chicory coffee by pregnant females, are expected to obstruct market growth. The growing demand for cold beverages and their consumption is expected to put a strain on the chicory root market.
This chicory root 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 root 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 Root Market
Consumers stacked products with high nutritional value to keep them healthy during the pandemic period. As a result, sales were stabilised to some extent because of the pandemic, consumers have adjusted to a new normal lifestyle and as a result, and an increasing number of consumers prefer quick and nutritious snacking options. COVID-19 opened the door for a slew of new private firms to enter the market in order to meet the 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 Root Market Scope
The chicory root market is segmented on the basis of product type, distribution channel and end-use industry. 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 Inulin
- Chicory Root Powder
Distribution channel
- B2B
- B2C
- Retailers
- Supermarket
- Hypermarket
- E-commerce
End use industry
- Food and Beverages
- Bakery and confectionary
- Breakfast cereals
- Dairy
- Frozen products
- Others
- Pharmaceutical Industry
- Nutraceuticals
Chicory Root Market Regional Analysis/Insights
The chicory root market is analysed and market size insights and trends are provided by country, product type, distribution channel and end-use industry as referenced above.
The countries covered in the chicory root market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the chicory root market due to rising consumption of chicory root coffee, rising health awareness among people, and rising demand for sugar substitutes.
Asia-Pacific is expected to have the highest growth rate due to the implementation of favourable government policies associated with chicory farming and investment by public and profit organisations
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 Root Market Share Analysis
The chicory root 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 root market.
Some of the major players operating in the chicory root market are:
- COSUCRA. (Belgium)
- Delecto Foods Pvt Ltd (India)
- BENEO (Germany)
- Cargill Incorporated (U.S.)
- Reily Foods Company (U.S.)
- Pioneer Chicory Root (India)
- PMV Nutrient Products Pvt Ltd. (India)
- Farmvilla Food Industries Pvt Ltd (India)
- Murlikrishna Foods Pvt Ltd (India)
- Starwest Botanicals. (U.S.)
- STOKROS Company Ltd (Russia)
- Natures Gold (Netherlands)
- Organic Herb Trading (U.K.)
- Shaanxi Sciphar Natural Product Co Ltd. (China)
- Jamnagar Chicory Root Industries (India)
- Herbs & Crops Overseas (India)
SKU-