Press release
Chicory Market: Industry Trends, Analysis, Types, Growth, Opportunity and Forecast 2024-2032
Chicory Market
Chicory root, rich in inulin, a prebiotic fiber, plays a crucial role in digestive health, blood sugar regulation, and weight management. With inulin aiding the growth of beneficial gut bacteria, chicory is widely embraced for its digestive and general health benefits. Furthermore, advancements in extraction and processing technology are contributing to the availability of high-purity chicory extracts, broadening its application across various sectors.
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Key Market Drivers
One of the primary drivers of the chicory market is the rising demand for caffeine-free coffee alternatives. Chicory coffee, particularly popular in regions like New Orleans and parts of Europe, offers a flavorful and caffeine-free experience, making it an appealing choice for those looking to reduce caffeine intake. As traditional coffee consumption can lead to side effects such as insomnia, heart palpitations, and anxiety, chicory coffee is becoming a popular substitute that mitigates these concerns.
Diabetes management is another factor propelling market growth. Chicory's inulin content supports healthy blood sugar levels by regulating the metabolism of fats and carbohydrates. Some studies suggest that chicory root extract can delay the onset of diabetes and mitigate its complications, further boosting its appeal among health-conscious consumers.
Additionally, anti-inflammatory properties found in chicory's polyphenols help combat chronic inflammation, a critical issue for individuals with diabetes. These benefits are fostering the use of chicory in the production of dietary supplements and energy bars, particularly as health-conscious consumers seek natural ingredients that promote wellness.
Challenges and Restraints
Despite the growing popularity of chicory, the market faces challenges. Coffee's cultural dominance and the general lack of familiarity with chicory in certain regions pose hurdles. Coffee drinkers often prefer the taste and stimulant properties of traditional coffee, and chicory's different flavor profile may not appeal to all consumers. Overcoming this obstacle may require greater investment in marketing, consumer education, and innovation in chicory-based products.
Market Segmentation and Insights
The chicory market is segmented based on product type, plant part, and application, with significant growth observed across multiple categories.
Chicory Instant Powder: Accounting for the largest share in 2022, chicory instant powder is a popular coffee alternative known for its smooth, caffeine-free flavor. This segment is particularly attractive to consumers seeking convenient and versatile products.
Roasted Chicory: Expected to grow steadily, roasted chicory is used as a standalone beverage or coffee additive. Its rich, dark flavor appeals to those seeking a caffeine-free coffee alternative.
Root Segment: Dominating the plant-part segment, chicory root's high inulin content makes it a staple in digestive health products. The root is used not only in food and beverages but also in dietary supplements, promoting wellness and fiber intake.
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Applications and Growth Prospects
Dietary Supplements: This segment is projected to lead market growth due to increasing awareness of chicory's health benefits. Its prebiotic properties and potential to improve digestion, reduce inflammation, and promote weight loss are driving demand for chicory-based supplements.
Food & Beverage: The F&B sector is expected to witness the fastest growth, with chicory being used in various forms, from salads to roasted beverages. Chicory coffee is particularly popular in regions like France and the U.S., where it serves as a traditional caffeine-free alternative.
Chicory Top 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:
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.
H&C GROUP OF COMPANIES
Chicory Latest Industry Updates
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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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
Others
Plant-part Outlook (Revenue, USD Million; 2019-2032)
Root
Leaf
Other Parts
Distribution Channel Outlook (Revenue, USD Million; 2019-2032)
Supermarkets/Hypermarkets
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
Others
Regional Outlook (Revenue, USD Million; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
Look Over transcripts provided by Emergen Research
Chicory Market Size@ https://www.emergenresearch.com/industry-report/chicory-market/market-size
Chicory Market Share@ https://www.emergenresearch.com/industry-report/chicory-market/market-share
Chicory Market Trends@ https://www.emergenresearch.com/industry-report/chicory-market/market-trends
Chicory Regional Market Demand@ https://www.emergenresearch.com/industry-report/chicory-market/regional-market-demand
Chicory Market Analysis@ https://www.emergenresearch.com/industry-report/chicory-market/market-analysis
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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