Chicory Market Size Worth USD 1391.4 Million in 2032 | Emergen Research
Increasing need for chicory as a coffee alternative, rising demand for chicory in the nutraceutical and pharmaceutical industries, and technological advancements in the extraction and processing of high-purity chicory extracts are key factors driving chicory market revenue growth.
Vancouver, Jan. 22, 2024 (GLOBE NEWSWIRE) — The global chicory market size was USD 739.6 million in 2022 and is expected to register a rapid revenue CAGR of 6.5% during the forecast period. Increasing need for chicory as a coffee alternative, rising demand for chicory in the nutraceutical and pharmaceutical industries, and technological advancements in the extraction and processing of high-purity chicory extracts are key factors driving market revenue growth.
The rising number of diabetes patients is another key factor driving revenue growth of the market. Chicory root is frequently used in place of caffeine in food to improve flavor and aroma and lend a naturally earthy tone. Chicory has soluble inulin fiber, which dissolves in water and forms a gel-like substance that feeds good bacteria in the colon. Chicory can also be beneficial in reducing the risk of heart disease and diabetes respectively along with helping to manage cholesterol levels and lowering blood glucose and insulin responses.
Some studies suggest that chicory root can be a useful natural diabetes treatment and has the ability to prevent and treat diabetes. Chicory root extract has the potential to postpone or avoid the early start of diabetes and mitigate advancement or emergence of their related problems. Chicory root controls blood sugar levels through the protein adiponectin, which aids in the metabolism of fats and carbohydrates. Furthermore, polyphenols are potent substances found in chicory root that effectively combat inflammation. This is crucial for diabetics since diabetes irritates every part of the body, especially blood vessel lining.
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A current trend in the market is rising demand for supplementary products and energy bars due to health consciousness. Chicory is a multipurpose and beneficial plant, which can be extracted to serve as a dietary supplement, brewed as an alternative to coffee or consumed as a vegetable. Inulin, a form of fiber found in chicory root, has been shown to enhance weight loss, reduce blood sugar, and promote better digestive health. As a prebiotic, inulin can nourish good bacteria in the digestive system. Chicory inulin is frequently added to energy bars and supplements to lower their calorie level and improve their fiber content. Consuming fiber can help to feel satisfied and full, which can help to prevent overeating and cravings.
However, excessive reliance on mainstream products such as coffee, is a key factor, which could restrain market revenue growth. Coffee is a popular beverage all around the world due to the distinct flavor, energizing properties, and cultural significance. Coffee drinkers frequently associate their good mood swings, vitality, and cognitive function to the flavor and aroma of coffee. Coffee comes in a range of varieties, mixes, and preparations to suit diverse tastes and situations. In addition, customers are not as familiar with or fond of chicory, particularly in areas where coffee is the predominant crop. Some coffee enthusiasts cannot enjoy different taste and aroma of chicory compared to coffee.
On the basis of type, the global chicory market is segmented into chicory instant powder, roasted chicory, chicory inulin, chicory flour, and others.
The chicory instant powder segment accounted for largest revenue share in the global chicory market in 2022 due to rising demand for caffeine free and flavorful alternatives to traditional coffee. Dry chicory roots are roasted until these have a perfect, smooth flavor and aroma, and then these are grounded into a fine powder to make chicory instant powder. Dry chicory has a great flavor profile but no caffeine, making it a good alternative to coffee. Chicory instant powder is ideal for percolators and coffee makers as it is finely ground.
On the basis of plant-part, the global chicory market is segmented into root, leaf, and other parts.
The root segment is expected to account for significantly large revenue share in the global chicory market during the forecast period due to rising awareness and demand for prebiotic-rich foods. The perennial herbaceous plant belonging to the dandelion family, which typically has beautiful blue blooms, is the source of chicory root. Chicory root can be powdered and used in baking or as a coffee substitute, while endive and chicons are two of the numerous varieties grown for their salad leaves. Chicory root resembles wood in texture, and due to their fibrous makeup, it does not break down in small intestine but instead keeps its shape as it passes through to the colon or large intestine. One of the best food sources of prebiotics available is fresh chicory roots, which include roughly 68 grams of inulin in a 100-gram dose.
On the basis of application, the global chicory market is segmented into Food & Beverage (F&B), dietary supplements, healthcare & medicine, cosmetics & personal care, animal feed, and others.
The dietary supplements segment is expected to account for largest revenue share in the global chicory market during the forecast period due to increasing awareness of chicory as a natural and health promoting supplement. The food industry frequently uses chicory, a nutritional supplement, as a natural sweetener and flavor enhancer. Supplements containing chicory root are becoming increasingly popular due to their possible health advantages, which include better digestion, decreased inflammation, and faster weight loss. There are a few important considerations to make while selecting the chicory supplements.
It is crucial to first take into account the supplement’s form, including whether it comes in liquid, pill or powder form. While powders can be used to favorite meals or beverages, pills are simple and quick to ingest. For people who want a warm, comforting beverage, liquids are a wonderful choice. It is essential to carefully review the ingredient list to make sure that the supplement is composed entirely of chicory root and does not include any fillers or additives.
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Asia Pacific market accounted for largest market share in the global chicory market in 2022. due to increasing number of health-conscious consumers in the Asia Pacific region. According to a recent global consumer survey carried out by One Inch Whale on behalf of BENEO, a well-known producer of plant-based functional ingredients, Thailand offers a strong market for F&B products. Thailand has a large number of health-conscious consumers who recognize the critical role that digestive health plays in overall well-being. There were 1,002 participants in Thailand out of 9,243 respondents who participated in the study in nine different countries.
In addition, government regulatory clearance of a health claim pertaining to chicory root fiber and collaboration amongst major businesses is also expected to drive market revenue growth of this region during the forecast period.
North America is expected to account for considerably large market share in the global chicory market during the forecast period due to increasing strategic distribution agreements among key industry players. For instance, on 21 December 2020, Sensus America and the Brenntag Food & Nutrition business unit in North America announced a distribution agreement for the distribution of chicory root fiber in the U.S. This initiative aligns with an increased focus on components that promote general well-being. Currently, Brenntag distributes liquid Fructooligosaccharides (FOS), also known as chicory root fiber and powdered inulin. Frutalose SF75, L90, L85, OFP, SFP, and Frutafit HD, IQ, CLR, TEX, OAI are some of the product names in the portfolio.
Scope of Research
|Market Size in 2022
|USD 739.6 Million
|Revenue Forecast To 2032
|USD 1391.4 Million
|Base Year For Estimation
|Revenue in USD Million and CAGR in % from 2023 to 2032
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Type, plant-part, distribution channel, application, and region
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
|Key Companies Profiled
|COSUCRA, Delecto Foods Pvt Ltd., BENEO, Sensus, Leroux, Cargill, Incorporated, REILY FOODS COMPANY, Pioneer Chicory, PMV Nutrient Pvt. Ltd, FARMVILLA FOOD INDUSTRIES PVT. LTD, Murlikrishna Foods Pvt Ltd, Starwest Botanicals, STOKROS company Ltd, Natures Gold, Organic Herb Trading, Narasu’s Coffee Company, NP Nutra, Jamnagar Chicory Industries, Shaanxi Sciphar Natural Products Co., Ltd., and H&C GROUP OF COMPANIES
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Major Companies and Competitive Landscape
The global chicory market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective chicory solutions in the market. Some major players included in the global chicory market report are:
- Delecto Foods Pvt Ltd.
- Cargill, Incorporated
- REILY FOODS COMPANY
- Pioneer Chicory
- PMV Nutrient Pvt. Ltd.
- FARMVILLA FOOD INDUSTRIES PVT. LTD
- Murlikrishna Foods Pvt. Ltd
- Starwest Botanicals
- STOKROS company Ltd.
- Natures Gold
- Organic Herb Trading
- Narasu’s Coffee Company
- NP Nutra
- Jamnagar Chicory Industries
- Shaanxi Sciphar Natural Products Co., Ltd.
- H&C GROUP OF COMPANIES
- On 7 March 2022, Sensus, a Dutch cooperative member announced to increase production of chicory root fiber, or inulin, to meet rising demand for natural prebiotics in plant-based diets and supplements.
- On 3 March 2020, BENEO, one of the top producers of functional ingredients, announced its plan to invest over USD 61 million in funding a substantial expansion of its chicory root production facility in Chile by 2022. This announcement follows an increase in consumer interest in digestive health and a rise in demand for BENEO’s chicory root fibers, inulin, and oligofructose.
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Segments Covered in Report
For the purpose of this report, Emergen Research has segmented the global chicory market on the basis of type, plant-part, distribution channel, application, and region:
- Type Outlook (Revenue, USD Million; 2019-2032)
- Chicory Instant Powder
- Roasted Chicory
- Chicory Inulin
- Chicory Flour
- Plant-part Outlook (Revenue, USD Million; 2019-2032)
- Other Parts
- Distribution Channel Outlook (Revenue, USD Million; 2019-2032)
- Convenience Stores
- Specialty Stores
- Online Retailers
- Application Outlook (Revenue, USD Million; 2019-2032)
- Food & Beverages (F&B)
- Dietary Supplements
- Healthcare & Medicine
- Cosmetics & Personal care
- Animal Feed
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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