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 Million in 2022 to USD 1,093.6 Million by 2032. The Chicory Products market was valued at USD 675.2 Million at the end of 2021 and is projected to exhibit Y-o-Y growth of 5.3% in 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2022 | USD 711.0 Million |
| Market Forecast Value in 2032 | USD 1,093.6 Million |
| Global Growth Rate (2022 to 2032) | 4.4% CAGR |
| Forecast Period | 2022 to 2032 |
| USA 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.
In the Historical outlook of the Chicory Products market the value increased from USD 549.2 Million in 2017 to USD 675.2 Million in 2021. The CAGR (2017 to 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 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 the Chicory Products markets the value increased from USD 711.0 Million in 2022 to USD 1,093.6 Million in 2032. The CAGR (2022 to 2032) is estimated to be 4.4%.
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.
The USA contributes 33.8% of the total revenue for the Chicory Products Market.
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 the Chicory Products market and United Kingdom CAGR for the forecast period is 4.4%.
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 increasing disposable incomes.
Japan's contribution to the Chicory Products market is 7.8% of the total market share, India and China are market drivers in the Asia Pacific and their latest CAGR in the Chicory Products market are 5.7% and 6.1% respectively.
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.
From the Oceania region, Australia is contributing 2.9% of the total revenue of the Chicory Products market.
Major factors driving the growth of the Chicory Products market in Australia are 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.
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.
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.
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.
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.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered |
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| Key Countries Covered |
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| Key Segments Covered |
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| Key Companies Profiled |
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| Report Coverage | Drivers, Restraints, Opportunities and Threats Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Chicory Products market will reach a valuation of USD 711.0 Million by the end of 2022.
The USA Chicory Products Market is contributing 33.8% of the total market share which is valued at around USD 240.3 Million.
USA, Canada, Mexico, Argentina, Brazil, Germany, United Kingdom, France, Italy, Russia, Spain China, Japan, India, and Australia are the major countries driving demand for Chicory Products Market.
The Germany Chicory Products Market is contributing 22.1% of the total market share which values at USD 157.1 Million.
• Beneo • Royal Cosun • Cosucra • Gansu Likang Nutritional Foods Co. Ltd. • Baiyin XIRUI Bioengneering Company Above are the top 5 market players in the Chicory Products industry.
The Japan Chicory Products market contribution is 7.8% of the 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 Million by the end of 2032.
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Chicory Products Market
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