The global chicory market is projected to grow at a CAGR of 3.8% during the forecast period (2020-2026). The major factors that drive the growth of the market include the various benefits possessed by it. Chicory is a perennial herbaceous plant that is consumed as a treatment for various disorders as well, as a nutritional supplement. The root of chicory is also used as a substitute for coffee. Chicory has various health benefits which include relief from arthritis pain, prevention from bacterial infections and heartburn, easing of digestive issues, strengthening immunity system, detoxification of the liver and gallbladder, and prevention from the risk of heart diseases. The root and leaves of the chicory plant are mainly consumed.
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Some other benefits offered by chicory include probiotics source, aids in weight reduction, source of vitamins, minerals, folic acid, potassium, and magnesium, which contributes to the growth of the market over the forecast period. Besides, changing lifestyle patterns increased the occurrence of lifestyle-related health disorders such as diabetes, hypertension, and even obesity encourages the adoption of such herbs as an effective treatment method, hence, creating a scope for the growth of the chicory market over the forecast period. However, the factor that hinders the growth of the market is the various side effects associated with the excess consumption of chicory. The excess consumption of chicory leads to gas, bloating, abdominal pain, and belching among the people which challenges the growth of the market.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Chicory Market by Product Type
- Chicory Root
- Chicory Leaf
Global Chicory Market by Applications
- Food & Beverages
- Pharmaceutical and Dietary Supplements
Regional Analysis
- North America (United States)
- Europe (Belgium, France, Poland, the Netherlands)
- Asia-Pacific (Thailand, India, and Others)
- Rest of the World (South Africa)
Competitive Landscape
- BENEO GmbH
- Cargill Inc.
- Cosucra Groupe Warcoing SA
- Delecto Foods Pvt. Ltd.
- Farmvilla Food Industries Pvt. Ltd.
- Jamnagar Chicory Industries
- Narasus Coffee Co.
- Nature’s Gold Production
- Pioneer Chicory
- PMV Nutrient Products
- STOKROS Co. Ltd.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global chicory market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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