Chicory Market - Trends Forecast Till 2028

Chicory Market by Product Type (Extracts, Roasted, Instant Powder, Flour), Form (Powder, Cubes, Liquid), Plant Part, Application (Food & Beverage, Dietary Supplement, Feed & Pet food, Cosmetics & Personal Care) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America) (Insights are provided for each region and countries within the region)

Published Date: January, 2021

Base Year Estimate: 2020

Report ID: D-FB-CM-76

Format:  

Number of Pages: 178

Domain: Food & Beverages

Chicory Market – Trends Forecast Till 2028

Global Chicory market is anticipated to reach USD 908 million by 2021 and growing at a CAGR of 5.9% during the forecasting period, 2021-2028. 

Chicory, or Cichorium intybus, is a woody, herbaceous plant in the dandelion family. It usually has bright blue flowers, though they can sometimes be white or pink. Chicory is cultivated for its leaves and its roots. Chicory root is also a good source of inulin, a type of prebiotic fiber that has been linked to support weight loss and improved gut health.

Rising prices of coffee beans along with increasing consumption of coffee is navigating the coffee and other food & beverage manufacturers to adopt chicory ingredients, as a cheaper substitute to coffee. Also, high medicinal values and health benefits associated with the consumption of chicory are expected to further propel the market. Furthermore, the easy cultivation process of the crop and the rising number of new entrants in the market is substantially snowballing the growth prospects.

Chicory Market – Trends Forecast Till 2028Global Chicory market is segmented into Type, form, plant-part, application, and geography.

Type segment is segmented into Extracts, Roasted, Instant Powder, and Flour.

Form segment is segmented into Powder, Cubes, and Liquid.

Application segment is segmented Food & Beverage, Dietary Supplement, Feed & Pet food, Cosmetics & Personal Care.

Geographically, the global Chicory market is sub-segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America and insights are provided for each region and major countries within the regions

Europe region has come up as the prominent region for the leading share in the overall global market during the forecast period 2021-2028.

Key players in the global Chicory market are Cargill Incorporated, Reily Foods Company, Pioneer Chicory, PMV Nutrient Products Pvt Ltd, Farmvilla Food Industries Pvt Ltd, Murlikrishna Foods Pvt Ltd, Starwest Botanicals, STOKROS Company Ltd, Nature’s Gold Production, Organic Herb Trading Co, Narasu’s Coffee Company, NP Nutra, Shaanxi Sciphar Natural Product Co Ltd., Jamnagar Chicory Industries, and Herbs & Crops Overseas.

The companies have come up with various promotional activities in from of launch, investment, acquisition, and other, for instance:

  • In July 2020, Approval was granted exclusively to Sensus’ Frutafit inulin and Frutalose fructooligosaccharides made from chicory roots by the Thailand FDA. This development would allow the company to penetrate the Thailand local market and thereby expand the consumer base in the digestive health market.

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Research Methodology

Secondary Research

This research method involved the usage of extensive secondary sources (such as directories and databases)—Hoovers, Avention, annual reports, investor presentation, conferences like Jefferies conference)—to identify and collect information useful for this study of the Chicory market. The purpose of secondary research is to identify and collection of extensive, technical, market-oriented, and commercial studies of the global Chicory market. Through secondary research, the market is classified and segmented as per industry trends, developments, regional markets, products, and technological development. 

Primary Research

The primary sources mainly included several industry experts from the core and related industries and suppliers, manufacturers, distributors, alliances, and organizations related to all segments of this industry’s supply chain. In-depth interviews were conducted with various primary respondents—including key industry participants, subject matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts—to obtain and verify critical qualitative and quantitative information as well as to assess future prospects. The following figure depicts the market research methodology used in drafting this report on the Chicory market.

Primary Respondent breakdown is given below:

Market Sizing

Top-down and bottom approaches were used to derive the market estimate and validate the total revenue of the Chicory market. This approach has also been used to derive the market for segmentation and sub-segmentation. 

Data Validation

Impact analysis has been conducted for deriving the market size. After collecting the in-depth quantitative and qualitative data, we contact primary respondents in order to gain a 98.8% of confidence level on our data.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants 

Reasons to Acquire

  • Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors
  • Gain authentic and granular data access for the Chicory market so as to understand the trends and the factors involved in changing market situations
  • Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
  • In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope
 

Report Feature

Descriptions

Market Revenue In 2021

USD 908 million

Growth Rate

CAGR of 5.9% during the forecasting period, 2021-2028

Historical Data

2018-2019

Forecast Years

2021-2028

Base Year 

2020

Units Considered

Revenue in USD million and CAGR from 2021 to 2028

Report Segmentation

Type, form, plant-part, application, and geography

Report Attribute

Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling

Regional Level Scope

North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

Country Level Scope

U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe)

Companies Profiled

Cargill Incorporated, Reily Foods Company, Pioneer Chicory, PMV Nutrient Products Pvt Ltd, Farmvilla Food Industries Pvt Ltd, Murlikrishna Foods Pvt Ltd, Starwest Botanicals, STOKROS Company Ltd, Nature’s Gold Production, Organic Herb Trading Co, Narasu’s Coffee Company, NP Nutra, Shaanxi Sciphar Natural Product Co Ltd., Jamnagar Chicory Industries  and Herbs & Crops Overseas 

 

Available Customization 

In addition to the market data for the Chicory market, Delvens offers client-centric reports and customized according to the company’s specific demand and requirement.

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