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Chicory Products Market

Market Insights on Chicory Products covering sales outlook, demand forecast & up-to-date key trends

Chicory Products Market Size, Share, Outlook & Trends – 2032 | FMI

Chicory Products Market Outlook

According to Future Market Insights research, during the projected forecast period, the Chicory Products market is expected to grow at a CAGR of 4.4%. The market value projected to increase is from USD 711.0 Mn in 2022 to USD 1,093.6 Mn by 2032. The Chicory Products market was valued at USD 675.2 Mn at the end of 2021 and is projected to exhibit Y-o-Y growth of 5.3% in 2022.

Market Size Value in 2022

USD 711.0 Mn

Market Forecast Value in 2032

USD 1,093.6 Mn

Global Growth Rate (2022 to 2032)

4.4% CAGR

Forecast Period

2022-2032

U.S. market share of Chicory Products

33.8%

A perennial herbaceous, woody plant called chicory has several medicinal benefits, including the capacity to alleviate digestive issues, prevent bacterial infections, lower anxiety, lessen arthritis pain, enhance gut health, detoxify the liver and gallbladder, and strengthen the immune system.

Chicory helps prevent kidney stones, help you maintain a healthy weight, and function as a natural relaxant. The roots of the chicory plant are ground into a powder and used as a coffee substitute. They are also boiled and eaten with butter, while the young plant's leaves can be cooked like spinach.

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Historical Outlook vs. Future Projections of Chicory Products Market

In Historical outlook of Chicory Products market the value increased from USD 549.2 Mn in 2017 to USD 675.2 Mn in 2021. The CAGR (2017-2021) is observed to be 5.3%.

In addition to being prebiotic, chicory also functions as a dietary fiber and offers a number of health advantages, including as antioxidant and anticancer properties.

To preserve their health and to suit their unique lifestyles, consumers are becoming pickier when selecting food products. Examples include reducing salt, sugar, and fat without sacrificing flavor or taste, increasing dietary fiber intake, and maintaining a healthy weight. This has increased the demand for chicory products, which has increased their market share globally.

In recent years, the prebiotics market has experienced remarkable expansion. One of the true prebiotic chemicals that help to boost metabolism and normalize the body's digestive processes is the inulin and oligofructose found in chicory.

For the Future projection of Chicory Products market the value increased from USD 711.0 Mn in 2022 to USD 1,093.6 Mn in 2032. The CAGR (2022-2032) is estimated to be 4.4%.

Country Wise Analysis

How North America Chicory Products market is shaping?

The major factors driving the growth of the chicory products market in North America are the rising demand for healthy and natural food ingredients and the growing popularity of plant-based foods. Additionally, the growing awareness about the health benefits of chicory products is also fuelling the market growth.

U.S. contributes 33.8% of total revenue for Chicory Products Market.

How Europe Chicory Products market is shaping?

Chicory products are gaining popularity in Europe as a healthy and sustainable alternative to traditional products. The chicory market in Europe is expected to grow significantly in the next few years, due to increasing consumer demand for healthy and sustainable products.

Germany contributes 22.1% to Chicory Products market and U.K. CAGR for forecast period is 4.4%.

How Asia Pacific is growing in Chicory Products market?

The Asia Pacific region is expected to be the fastest-growing market for chicory products during the forecast period. The major drivers for the growth of this market are the growing demand for functional foods and beverages, rising health consciousness, and changing lifestyles.

The Asia Pacific region is a highly attractive market for chicory product manufacturers due to the growing population and the increasing disposable incomes.

Japan contribution in Chicory Products market is 7.8% of total market share, India and China are market drivers in Asia Pacific and their latest CAGR in Chicory Products market are 5.7% and 6.1% respectively.

What is Chicory Products market situation in Latin America region?

Chicory products have been gaining popularity in Latin America in recent years. The market for these products is growing at a steady rate, and is expected to continue to do so in the coming years.

There are many reasons for the growing popularity of chicory products in Latin America. One of the main reasons is that chicory is a very versatile plant. It can be used in a wide variety of food and beverage products. Chicory coffee, for example, is becoming increasingly popular in the region.

How the RoW is responding to Chicory Products market?

From Oceania region Australia is contributing 2.9% of total revenue of Chicory Products market.

Major factors driving the growth of the Chicory Products market in Australia is the increasing demand for healthy and natural food ingredients, and the growing awareness about the health benefits of chicory products. Additionally, the rising disposable incomes and changing lifestyle patterns are also contributing to the growth of this market.

Nandini Roy Choudhury
Principal Consultant
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Category Wise Insights

How is chicory products used in the food and beverage industry?

Chicory Products are mostly used to add fiber and texture to yogurt, ice cream, chocolate bars, breakfast bars, salad dressings, and margarine applications in the food and beverage sector.

How Chicory Products is responsible for growth of Healthcare Industry?

Chicory products are used in the healthcare sector to treat cancer, hypertension, liver and gallbladder diseases, and constipation. Additionally, the coffee and confectionary industries employ chicory. Roasted chicory root is popular as a caffeine-free, health-improving alternative to coffee and as a pleasant spice for food. Inulin from chicory aids in controlling blood sugar levels and lessens inflammation in the body.

What are the benefits of Chicory Products?

There are many benefits of chicory products. Chicory root is a good source of fiber, which can help promote regularity and prevent constipation. It also contains inulin, which is a type of prebiotic that can help promote gut health by feeding the good bacteria in the gut.

Chicory products are also low in calories and fat, and they contain no sugar. This makes them a great choice for people who are trying to lose weight or manage their blood sugar levels. Chicory products are also gluten-free, making them an ideal choice for people with celiac disease or gluten intolerance.

Competitive Landscape

The competitive landscape of the chicory products market is fragmented with the presence of a large number of manufacturers. The key players in the market are engaged in product innovation and development to gain a competitive edge over their rivals.

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Chicory Products Market Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2022

Market Analysis

USD Mn for Value and Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA
  • RoW

Key Countries Covered

  • US
  • Canada
  • Germany
  • UK
  • France
  • Russia
  • Brazil
  • Argentina
  • Japan
  • Australia
  • China
  • India

Key Segments Covered

  • Type
  • Application
  • Sales Channel
  • Region

Key Companies Profiled

  • Beneo
  • Royal Cosun
  • Cosucra
  • Gansu Likang Nutritional Foods Co. Ltd.
  • Baiyin XIRUI Bioengneering Company
  • Qinghai Weide Biotechnology Co. Ltd.
  • Novagreen Inc
  • The Tierra Group
  • French Meadow Bakery Inc.
  • ITC Limited
  • C & F Foods Inc.
  • Fuji Nihon Seito Corporation
  • Danisco A/S
  • Chicopee Mills Inc.

Report Coverage

DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Segmentation of Chicory Products market

Segmentation by Type:

  • Instant Chicory
  • Chicory Extracts
  • Chicory Flour
  • Roasted Chicory

Segmentation by Application:

  • Healthcare
  • Dietary Supplements
  • Food & Beverage
  • Others

Segmentation by Sales Channel:

  • Online
  • Offline

Segmentation by Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • MEA
  • RoW

Frequently Asked Questions

The global Chicory Products market will reach a valuation of USD 711.0 Mn by the end of 2022.

The U.S. Chicory Products Market is contributing 33.8% of total market share which values around USD 240.3 Mn.

U.S., Canada, Mexico, Argentina, Brazil, Germany, U.K., France, Italy, Russia, Spain China, Japan, India, Australia are the major countries driving demand for Chicory Products Market.

The Germany Chicory Products Market is contributing 22.1% of total market share which values at USD 157.1 Mn.

• Beneo • Royal Cosun • Cosucra • Gansu Likang Nutritional Foods Co. Ltd. • Baiyin XIRUI Bioengneering Company Above are the top 5 market players in Chicory Products industry.

The Japan Chicory Products market contribution is 7.8% of total market share.

The India Chicory Products market will grow at 5.7% CAGR between 2022 and 2032.

The global Chicory Products market is forecasted to surpass USD 1,093.6 Mn by the end of 2032.

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Nandini Roy Choudhury
Principal Consultant
LinkedIn
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Chicory Products Market