Global Chicory Market

Global Chicory Market Size, Share, Growth Analysis, By Product (Chicory root and chicory leaf), By Application(Food & beverages, dietary supplement) - Industry Forecast 2024-2031

Report ID: SQMIG30C2094 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 61 | Figures: 70

Global Chicory Market Insights

Chicory Market size was valued at USD 693.56 billion in 2019, and it is expected to reach a value of USD 1056.21 billion by 2031, at a CAGR of 6.45% over the forecast period (2024-2031).

Chicory is a biennial plant having bright blue flowers, and is grown for use in the sugar industry or as a coffee alternative. It is being utilized for the treatment of constipation, loss of appetite, high blood pressure, gallbladder disorders, and cancer. The chicory leaves paste form can be directly applied to the skin for swelling and inflammation.

Chicory contains inulin that promotes the growth of beneficial bacteria in the gut and however, helps in improving digestive health. Because of this, the demand for chicory is rising from health-conscious consumers. In addition, chicory is being widely used in various industries as it can be used in clean-label products in industries including cosmetic & personal care.

Chicory is grilled with olive oil in Italy, but in the U.S., it is used in pizza, pasta, and risotto recipes; and these are anticipated to signify well for the product demand over the forecast period.

Due to the outbreak of COVID-19 pandemic, the consumption of ready-to-mix and ready-to-drink beverages has substantially increased. Due to the growing popularity, the coffee manufacturers enhanced their production capabilities and volumes. The application of the product in the food and beverage industry is anticipated to further fuel the growth.

US Chicory Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Chicory Market size was valued at USD 693.56 billion in 2019, and it is expected to reach a value of USD 1056.21 billion by 2031, at a CAGR of 6.45% over the forecast period (2024-2031).

Global chicory market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Farmvilla Food Industries Pvt Ltd (India)', 'Cargill Incorporated (US)', 'Starwest Botanicals (US)', 'Murlikrishna Foods Pvt Ltd (India)', 'Cosucra Groupe Warcoing (Belgium)', 'BENEO GmbH (Germany)', 'Sensus (Netherlands)', 'Organic Herb Trading Co (UK)', 'Shaanxi Sciphar Natural Product Co Ltd. (China)', 'NP Nutra (US)', 'Jamnagar Chicory Industries (India)', 'Herbs & Crops Overseas (India)', 'Nature’s Gold Production (Netherlands)', 'STOKROS Company Ltd (Russia)', 'Pioneer Chicory (India)'

Chicory is being used for the treatment of various health issues, including liver and gallbladder disorders, cancer, and other acute gastrointestinal issues. Besides these health benefits, it is also a tonic for increasing urine production, guarding the liver, and counteracting the stimulant effect of coffee. This is driving the market growth.

Chicory root fiber is able to help with sugar reduction by including flavour and texture. The leaves and roots of chicory are used for salads and also in the preparation of different innovative and tasty recipes. It is however a nutritional powerhouse with vitamin A, K, C, and other B group vitamins. In addition, it is an excellent source of minerals like manganese, copper, iron, and potassium; which is increasing the trend in terms of consumption.

Europe is dominating the chicory market because of the growing consumption of chicory coffee, rising health concerns, and rising demand for sugar alternatives, which are the major growth drivers in the region over the projected period.

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