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Chicory Ingredients Market 2020 Global Size, Trends, Share, Competitive Landscape Analysis, With Regional Forecast To 2023
Chicory Ingredients Market
Chicory Ingredients is witnessing a high growth in the market due increasing adoption of chicory in industries such as food & beverage, pharmaceutical and dietary supplement. It is also cultivated as a forage plant for animal feed. In addition, chicory plays a role as antioxidant, anti-inflammatory, sedative, cardiovascular, hypolipidemic, anticancer, anti-protozoal, anthelmintic, gastro-protective, analgesic, antidiabetic, antimicrobial. Thus, due to these properties, chicory ingredients are gaining popularity.
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The market players are focusing on their R&D activities to launch new and innovative products containing chicory ingredients, as there is an increasing demand for natural and prebiotic ingredients in the market. In addition to this, chicory extract helps in reducing the levels of hepatic enzymes in human body including aspartate aminotransferase (AST), alanine aminotransferase (ALT), and alkaline phosphatase (ALP). Moreover, chicory ingredients are considered as an important protective source for hepatocytes and liver cells as well as it is used as prebiotic against both vivo and in vitro species of pathogenic bacteria. Also, it enhances immunity and feed efficiency by decreasing pathogenic microorganisms of gastrointestinal tract. Thus, owing to these factors the chicory ingredients market is expected to witness high growth in the future.
Segmentation
The global chicory ingredients market has been segmented based on type, category, application, and region.
By type, the global market has been classified as leaves, root, flowers, and seeds.
Based on category, the global chicory ingredients market has been classified as organic, and conventional.
On the basis of application, the global chicory ingredients industry has been divided into food & beverages, pharmaceuticals, dietary supplements, and others. Food & beverage segment is further divided into bakery & confectioneries, dairy & frozen desserts, beverages, and others.
The global chicory ingredients market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American chicory ingredients market has further been segmented into the US, Canada, and Mexico. The European chicory ingredients market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The chicory ingredients industry in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The chicory ingredients market in the rest of the world has been segmented into South America, the Middle East, and Africa.
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Regional Market
Europe is expected to dominate the chicory ingredients market during the forecast period. The region’s dominance can be attributed to various factors such as the presence of several market players, increasing usage of chicory in various industries. Chicory ingredients provides several health benefits, which leads to its usage in maintaining bone health, help cleanse the blood and improves liver health. Increasing usage of chicory ingredients in cooking, pharmaceuticals, and dietary supplements by consumers in Asia-Pacific is expected to render a significant share of the market to Asia-Pacific during the upcoming years. However, North America is anticipated to register the highest CAGR due higher inclination of food & beverages industry for using chicory in various products, due to the presence of prebiotic fibre known as inulin.
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