Chicory Market Size, Share, Opportunities, And Trends By Type (Chicory Instant Powder, Roasted Chicory, Chicory Extracts, Others), By Application (Food & Beverages, Dietary Supplement, Health Care Products, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Aug 2023
- Report Code : KSI061616039
- Pages : 142
It is anticipated that the chicory industry will expand rapidly throughout the projected period. The dandelion family includes the woody plant known as chicory or Cichorium intybus. Chicory root reduces edoema and has a slight laxative effect. Chicory is mostly utilised for its applications in the food and beverage sector and for its health benefits. Chicory can be used to treat a variety of health issues, including cancer, gallbladder diseases, high blood pressure, appetite loss, arthritic pain, and constipation. The use of chicory as a prebiotic element and an antibiotic alternative in animal feed additives has also skyrocketed in popularity.
Driving factors for the chicory market
Millennials choose chicory foods as they have multiple health advantages and are organic due to their busy lifestyles, increased disposable incomes, greater knowledge of preventative healthcare practises, and desire to maintain better health. Chicory is increasingly being used in beauty and care products in emerging and impoverished nations due to its anti-inflammatory and antioxidant characteristics, which is another element boosting chicory market.
Rising demand for gluten-free appetizers
The rising prevalence of celiac disease and irritable bowel syndrome (IBS) is spurring demand for gluten-free goods in both developed and developing nations. However, it's anticipated that increased demand for gluten-free appetisers will increase consumption of chicory in Europe. A list of cutting-edge chicory formulations is expected to increase interest in the product. Its increasing use in salads, crackers, and appetisers is projected to drive this trend as is being used as a gluten-free alternative fueling the chicory market growth.
Growing need for low-calorie food products
One of the newest developments in the food and beverage sector is the lowering of sugar. Chicory root fibre is increasingly used because it enhances flavour and texture while lowering sugar intake which is upsurging the chicory market. Chicory roots and leaves have been used for many years in creative and tasty foods like salads. Acute gastrointestinal problems, cancer, and abnormalities of the liver and gallbladder are just a few of the health ailments that chicory is used to treat. In addition to these health advantages, it is also believed to be a tonic for boosting urine output, safeguarding the liver, and reducing the stimulating effects of coffee.
Increasing use of chicory roots
Chicory root is predicted to have the highest share due to its widespread use in the food and beverage sector. Chicory root powder is used as a replacement for sugar, and fat, and a texturizer in baked goods and other culinary products. It is also employed in a variety of industrial applications, such as nutritional supplements due to its additional minerals, including vitamins A, C, D, iron, and potassium. As a result, a substantial increase in the chicory market growth is anticipated throughout the forecast period. Moreover, the chicory leaf is often consumed as a salad or vegetable. Additionally, it may be sautéed and used in stews and soups.
Growing popularity of roasted coffee
A coffee replacement called roasted chicory is also manufactured from the roasted and crushed roots of many plants, including dandelion. One of the best sources of caffeine is roasted chicory. It lowers the risk of rheumatism, respiratory issues, heart illnesses, and gallstones. Some individuals find the very bitter flavour of roasted chicory tolerable enough to drink without cream or sugar. Roasted chicory differs from other caffeinated goods like coffee beans in that it is roasted and does not contain pulverised B. Capra or B. tunica root.
Advancement in supplemental goods
Increased demand for supplemental goods and energy bars as a result of health consciousness is fueling the chicory market. Additionally, the method used to extract inulin from chicory roots is similar to that used to extract saccharose from sugar beets. Throughout the projection period, the chicory market growth is being driven by consumers in developed nations who are becoming more aware of the nutritional benefits of chicory. It is envisaged that consumers who care about their health may indirectly affect chicory consumption by choosing beef products with fewer chemicals and antibiotics.
Rising preference for chicory as a substitute for coffee
The main factor driving the chicory market is consumer preference for chicory as a less expensive alternative to coffee. One of the luxury food items is coffee. Furthermore, due to an increase in worldwide pricing, it is now more expensive to buy coffee powder, making it difficult for businesses to absorb the higher cost of raw materials. To protect their margin, coffee firms are increasingly adding chicory to their blends. The percentage of chicory in large coffee firms' branded sachets has climbed from 30% to 49% as a result of ownership of a few top-selling brands. Direct-to-consumer chicory goods are also quite affordable, such as the roasted chicory powder that tastes exactly like coffee.
In the Asia Pacific region, it is projected that the chicory market will grow steadily.
During the projection period, the Asia Pacific region is anticipated to have faster growth. This is due to rising public awareness, increasing investments from major international players, and expanding economic advances. The demand for chicory is anticipated to rise as a result of the region's densely populated nations having greater rates of chronic disorders including obesity and cardiac problems. The demand and growth possibilities for the chicory industry in the Asia Pacific are further fueled by the expanding food and beverage sector as well as increased chicory cultivation and manufacturing.
Market Key Developments
- In August 2023, NaturNature announced its line of chicory products as a delectable and nourishing caffeine substitute. NaturNature's chicory products provide a hydrating and nutritious option.
- In August 2023, With a €45 million (US$49.3 million) investment from Wallonie Entreprendre, a Belgian corporate office, investment company Société Fédérale de Participations et d'Investissement (SFPIM), and Sofiprotéol, a Paris-based investment company, Cosucra is strengthening its energy transition and boosting its ability to produce chicory and pea protein.
- In February 2022, Crux Agribotics introduced a SortiPack for chicory in addition to creating the SortiPack for beef tomatoes, (mini-)cucumbers, and sweet pointed peppers.
- By Type
- Chicory Instant Powder
- Roasted Chicory
- Chicory Extracts
- By Application
- Food & Beverages
- Dietary Supplement
- Health Care Products
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. CHICORY MARKET, BY TYPE
5.2. Chicory Instant Powder
5.3. Roasted Chicory
5.4. Chicory Extracts
6. CHICORY MARKET, BY APPLICATION
6.2. Food & Beverages
6.3. Dietary Supplement
6.4. Health Care Products
7. CHICORY MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Market Share Analysis
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.2. Delecto Foods Pvt. Ltd.
9.4. Cargill Incorporated
9.5. Reily Food Company
9.6. Starwest Botanicals
9.7. Natures Gold
9.8. Organic Herb Trading
9.9. Murli Krishna Foods Pvt. Ltd.
Delecto Foods Pvt. Ltd.
Reily Food Company
Organic Herb Trading
Murli Krishna Foods Pvt. Ltd.
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