Chicory Market
PUBLISHED: 2023 ID: SMRC24128
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Chicory Market

Chicory Market Forecasts to 2030 - Global Analysis By Type (Instant powder, Extracts, Roasted Chicory, Chicory Flour and Other Types), Form (Powder, Cubes, Liquid and Other Forms), Plant Part, Distribution Channel, Application and By Geography.

4.2 (47 reviews)
4.2 (47 reviews)
Published: 2023 ID: SMRC24128

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $795.30 MN

Projected Year Value (2030)

US $1,322.02 MN

CAGR (2023 - 2030)

7.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Chicory Market is accounted for $795.30 million in 2023 and is expected to reach $1,322.02 million by 2030 growing at a CAGR of 7.5% during the forecast period. Chicory is a plant and it is known for its edible leaves and roots. It is commonly used in culinary applications, especially in salads and as a coffee substitute. Chicory offers various health benefits and is offer anti-inflammatory benefits for the heart and osteoarthritis. Besides, chicory also contains inulin which promotes the growth of beneficial bacteria in the gut and helps in improving digestive health.

According to FAOSTAT, more the 100 million tonnes (~112 million tons) of coffee and 6.4 million tonnes (7.05 million tons) of tea were produced globally in 2018.



Market Dynamics:

Driver:

Demand for natural ingredients

Chicory serves as a caffeine-free coffee alternative, appealing to individuals who want to reduce their caffeine intake or prefer naturally-derived options. Additionally, inulin, a natural prebiotic fibre found in chicory, is used as a sweetener in various food and beverage products. This is especially attractive to those seeking alternatives to synthetic sweeteners, promoting the use of natural ingredients. Furthermore, the plant is also used in the production of gluten-free and health-focused products, meeting the dietary needs of various consumer segments. Thus, the chicory market benefits significantly from the surge in consumer demand for natural ingredients, as chicory's diverse applications cater to health-conscious consumers seeking cleaner, more natural choices in their diets and beverages.

Restraint:

Bitter taste

Chicory is a plant that some people find distracting due to its bitter flavour. The bitter flavour of chicory is primarily attributed to the presence of natural compounds called bitter substances, such as lactucin and lactucopicrin. Although some people find bitterness to be a desirable quality in some culinary traditions, bitterness can be difficult to market to a broader consumer base. These compounds are responsible for the distinctive taste profile of chicory and are often perceived as undesirable by consumers who prefer milder or sweeter flavours. Therefore, it acts as a significant barrier to market growth.

Opportunity:

Health and wellness trends

Chicory's natural qualities make it a popular ingredient as customers prioritise their health and wellness more. Chicory, high in inulin, is a popular ingredient in many health-conscious goods because of its perceived benefits for digestive health. Chicory's adaptability enables it to profit from wellness and health trends even more. It is a caffeine-free coffee alternative that is intended for people who want to reduce or completely avoid caffeine in their diets. It also satisfies the need for better substitutes for added sugars and artificial sweeteners in products through its use as a natural sweetener. In addition, chicory's involvement in clean-label goods and beverages enhances its appeal in the context of healthy food and simple labelling as customers choose increasingly natural products. Its potential in the health and wellness industry, where consumers are actively looking for natural, health-promoting substances, is highlighted by the combination of variables. Hence, all these factors result as the opportunities for the growth of the market.

Threat:

Environmental and sustainability concerns

Environmental and sustainability concerns represent a growing threat to the chicory market. Chicory cultivation and processing practices must align with environmentally friendly and sustainable principles to meet evolving consumer expectations. These practices encompass water usage, land management, and the responsible use of agricultural chemicals. Failure to adopt sustainable methods can result in environmental degradation, increased production costs, and consumer backlash. In a market increasingly sensitive to eco-conscious consumers, chicory producers must address these concerns to maintain their reputation and market presence.

Covid-19 Impact

The COVID-19 epidemic presented the chicory industry with both opportunities and challenges. Positively, chicory benefited from the pandemic's increased emphasis on health and wellbeing. Its popularity as a natural, gut-friendly component drew in customers who wanted to boost their immunity and maintain their overall wellness. The popularity of natural and clean-label products has increased, and Chicory's inulin-based sweeteners and coffee alternatives are a great fit for this trend. However, the epidemic also brought about a number of negative impacts. The distribution and availability of chicory products were impacted by disruptions in the worldwide supply chain. Lockdowns and limitations caused substantial declines in the restaurant and foodservice sectors, which in turn affected the demand for chicory in these industries.

The Chicory Flour segment is expected to be the largest during the forecast period

The Chicory Flour segment is estimated to hold the largest share. Chicory flour involves the milling and processing of chicory roots into a fine, gluten-free flour. This flour is gaining attention as a nutritious and versatile ingredient, suitable for a wide range of applications. Chicory flour is renowned for its mild, slightly sweet flavour, making it an excellent choice for gluten-free baking and cooking. Moreover, it adds nutritional value by providing dietary fibre and inulin, a prebiotic that supports gut health. This segment caters to the increasing demand for gluten-free and healthier alternatives in the food industry, offering an appealing option for those with dietary restrictions or those seeking nutritious, clean-label ingredients in their products. Thus, it promotes the segment's growth.

The Food & Beverages segment is expected to have the highest CAGR during the forecast period

The Food & Beverages segment is anticipated to have lucrative growth during the forecast period. Chicory is used as an ingredient in a wide range of food and beverage products. Its applications are diverse, including salads, vegetable side dishes, baked goods, and as a coffee substitute. Chicory's slightly bitter flavor profile complements various culinary creations, and it is favored for its health benefits, such as digestive support. Additionally, consumers seek natural and healthier alternatives in their diets, chicory's presence in food and beverages aligns with the demand for clean label, natural, and functional ingredients, making it a significant and versatile segment in the market.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period. With a large and growing population, increasing health consciousness, and a rising demand for natural and functional ingredients, the region holds significant potential for the chicory industry. One of the key drivers for chicory market growth in the Asia-Pacific region is the increasing awareness of the health benefits associated with chicory consumption. Moreover, chicory is known for its prebiotic properties, which promote digestive health and support the growth of beneficial gut bacteria. As consumers in this region become more health-conscious, there is a growing interest in incorporating functional ingredients like chicory into their diets.

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period due to its various health benefits and its versatile application in the food and beverage industry. Increasing demand for natural and plant-based ingredients is a key driver in the North American region. Additionally, North American market also benefits from a well-developed food and beverage industry that embraces innovation and new product launches. Also, companies in the region are investing in research and development to develop chicory varieties with reduced bitterness and exploring different processing techniques to enhance their palatability.



Key players in the market

Some of the key players in the Chicory Market include Sensus, Cargill Incorporated, BENEO GmbH, Leroux, Reily Foods Company, Delecto Foods Pvt Ltd, Pioneer Chicory, PMV Nutrient Products Pvt Ltd., Murlikrishna Foods Pvt Ltd, Farmvilla Food Industries Pvt Ltd, Nature's Gold, Starwest Botanicals, Shaanxi Sciphar Natural Product Co Ltd., Jamnagar Chicory Industries, Organic Herb Trading Co, STOKROS Company Ltd and Cosucra Groupe Warcoing.

Key Developments:

In March 2023, Cargill partners with food tech company. The partnership will accelerate the wide-scale commercialization of Cubiq’s fat technologies that can enhance flavor, reduce total fat and saturated fat content, improve caloric content and incorporate essential fatty acids like omega-3, according to the company.

In February 2023, Cargill launches edible oil brand in South India supported by the plant in Nellore. The company announced the launch of its first product in four South Indian States — Gemini Pureit, a sunflower oil

Types Covered:
• Instant powder
• Extracts
• Roasted Chicory
• Chicory Flour
• Other Types

Forms Covered:
• Powder
• Cubes
• Liquid
• Other Forms

Plant Parts Covered:
• Leaf
• Root
• Other Plant Parts

Distribution Channels Covered:
• Supermarkets and Hypermarkets
• Online Retail
• Convenience Stores
• Specialty Stores
• Other Distribution Channels

Applications Covered:
• Food & Beverages
• Feed & Pet Food
• Dietary Supplements
• Cosmetics & Personal Care
• Medicines
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Chicory Market, By Type
5.1 Introduction
5.2 Instant powder
5.3 Extracts
5.4 Roasted Chicory
5.5 Chicory Flour
5.6 Other Types

6 Global Chicory Market, By Form
6.1 Introduction
6.2 Powder
6.3 Cubes
6.4 Liquid
6.5 Other Forms

7 Global Chicory Market, By Plant Part
7.1 Introduction
7.2 Leaf
7.3 Root
7.4 Other Plant Parts

8 Global Chicory Market, By Distribution Channel
8.1 Introduction
8.2 Supermarkets and Hypermarkets
8.3 Online Retail
8.4 Convenience Stores
8.5 Specialty Stores
8.6 Other Distribution Channels

9 Global Chicory Market, By Application
9.1 Introduction
9.2 Food & Beverages
9.3 Feed & Pet Food
9.4 Dietary Supplements
9.5 Cosmetics & Personal Care
9.6 Medicines
9.7 Other Applications

10 Global Chicory Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Sensus
12.2 Cargill Incorporated
12.3 BENEO GmbH
12.4 Leroux
12.5 Reily Foods Company
12.6 Delecto Foods Pvt Ltd
12.7 Pioneer Chicory
12.8 PMV Nutrient Products Pvt Ltd.
12.9 Murlikrishna Foods Pvt Ltd
12.10 Farmvilla Food Industries Pvt Ltd
12.11 Nature's Gold
12.12 Starwest Botanicals
12.13 Shaanxi Sciphar Natural Product Co Ltd.
12.14 Jamnagar Chicory Industries
12.15 Organic Herb Trading Co
12.16 STOKROS Company Ltd
12.17 Cosucra Groupe Warcoing

List of Tables
1 Global Chicory Market Outlook, By Region (2021-2030) ($MN)
2 Global Chicory Market Outlook, By Type (2021-2030) ($MN)
3 Global Chicory Market Outlook, By Instant powder (2021-2030) ($MN)
4 Global Chicory Market Outlook, By Extracts (2021-2030) ($MN)
5 Global Chicory Market Outlook, By Roasted Chicory (2021-2030) ($MN)
6 Global Chicory Market Outlook, By Chicory Flour (2021-2030) ($MN)
7 Global Chicory Market Outlook, By Other Types (2021-2030) ($MN)
8 Global Chicory Market Outlook, By Form (2021-2030) ($MN)
9 Global Chicory Market Outlook, By Powder (2021-2030) ($MN)
10 Global Chicory Market Outlook, By Cubes (2021-2030) ($MN)
11 Global Chicory Market Outlook, By Liquid (2021-2030) ($MN)
12 Global Chicory Market Outlook, By Other Forms (2021-2030) ($MN)
13 Global Chicory Market Outlook, By Plant Part (2021-2030) ($MN)
14 Global Chicory Market Outlook, By Leaf (2021-2030) ($MN)
15 Global Chicory Market Outlook, By Root (2021-2030) ($MN)
16 Global Chicory Market Outlook, By Other Plant Parts (2021-2030) ($MN)
17 Global Chicory Market Outlook, By Distribution Channel (2021-2030) ($MN)
18 Global Chicory Market Outlook, By Supermarkets and Hypermarkets (2021-2030) ($MN)
19 Global Chicory Market Outlook, By Online Retail (2021-2030) ($MN)
20 Global Chicory Market Outlook, By Convenience Stores (2021-2030) ($MN)
21 Global Chicory Market Outlook, By Specialty Stores (2021-2030) ($MN)
22 Global Chicory Market Outlook, By Other Distribution Channels (2021-2030) ($MN)
23 Global Chicory Market Outlook, By Application (2021-2030) ($MN)
24 Global Chicory Market Outlook, By Food & Beverages (2021-2030) ($MN)
25 Global Chicory Market Outlook, By Feed & Pet Food (2021-2030) ($MN)
26 Global Chicory Market Outlook, By Dietary Supplements (2021-2030) ($MN)
27 Global Chicory Market Outlook, By Cosmetics & Personal Care (2021-2030) ($MN)
28 Global Chicory Market Outlook, By Medicines (2021-2030) ($MN)
29 Global Chicory Market Outlook, By Other Applications (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

List of Figures
Figure 1 Global Chicory Market Outlook (2021-2030) ($MN)
Figure 2 North America Chicory Market Outlook (2021-2030) ($MN)
Figure 3 US Chicory Market Outlook (2021-2030) ($MN)
Figure 4 Canada Chicory Market Outlook (2021-2030) ($MN)
Figure 5 Mexico Chicory Market Outlook (2021-2030) ($MN)
Figure 6 Europe Chicory Market Outlook (2021-2030) ($MN)
Figure 7 Germany Chicory Market Outlook (2021-2030) ($MN)
Figure 8 UK Chicory Market Outlook (2021-2030) ($MN)
Figure 9 Italy Chicory Market Outlook (2021-2030) ($MN)
Figure 10 France Chicory Market Outlook (2021-2030) ($MN)
Figure 11 Spain Chicory Market Outlook (2021-2030) ($MN)
Figure 12 Rest of Europe Chicory Market Outlook (2021-2030) ($MN)
Figure 13 Asia Pacific Chicory Market Outlook (2021-2030) ($MN)
Figure 14 Japan Chicory Market Outlook (2021-2030) ($MN)
Figure 15 China Chicory Market Outlook (2021-2030) ($MN)
Figure 16 India Chicory Market Outlook (2021-2030) ($MN)
Figure 17 Australia Chicory Market Outlook (2021-2030) ($MN)
Figure 18 New Zealand Chicory Market Outlook (2021-2030) ($MN)
Figure 19 South Korea Chicory Market Outlook (2021-2030) ($MN)
Figure 20 Rest of Asia Pacific Chicory Market Outlook (2021-2030) ($MN)
Figure 21 South America Chicory Market Outlook (2021-2030) ($MN)
Figure 22 Argentina Chicory Market Outlook (2021-2030) ($MN)
Figure 23 Brazil Chicory Market Outlook (2021-2030) ($MN)
Figure 24 Chile Chicory Market Outlook (2021-2030) ($MN)
Figure 25 Rest of South America Chicory Market Outlook (2021-2030) ($MN)
Figure 26 Middle East & Africa Chicory Market Outlook (2021-2030) ($MN)
Figure 27 Saudi Arabia Chicory Market Outlook (2021-2030) ($MN)
Figure 28 UAE Chicory Market Outlook (2021-2030) ($MN)
Figure 29 Qatar Chicory Market Outlook (2021-2030) ($MN)
Figure 30 South Africa Chicory Market Outlook (2021-2030) ($MN)
Figure 31 Rest of Middle East & Africa Chicory Market Outlook (2021-2030) ($MN)
 

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

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

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

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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