The global demand for Chicory Products Market is presumed to reach the market size of nearly USD 1052.53 MN by 2028 from USD 676.42 MN in 2021 with a CAGR of 6.52% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Units in 2021 and forecast to touch XX Units by 2028 with a CAGR of XX% during 2022-2028.
Chicory products are derived from the Chicory plant. Chicory (Cichorium incubus) is a perennial plant with bright blue flowers that belongs to the family Asteraceae. However, this woody herb is grown as a biennial plant. Every part of the chicory plant is beneficial for human health. These products are a great source of vitamins, minerals, and dietary fibre. Chicory root contains inulin that helps in reducing blood sugar. Its root powder enhances taste, decreases inflammation, and improves digestion. Chicory leaves are used to cure digestive problems, while seeds are an abundant source of saturated and unsaturated fatty acids. Chicory offers promising solutions for many ailments, such as liver, and gallbladder disorders, kidney diseases, cancer, diabetes, and digestive disorders. Chicory coffee is gaining popularity worldwide. Chicory is used as an essential ingredient in many food and beverages. In addition to this, chicory is also used in cosmetics, herbal medicines, pet food, and weight management supplements.
Market Dynamics
The increasing demand for chicory products owes to a growing demand for functional food products, changing lifestyles, and rising demand for caffeine substitutes. The exponential growth of the chicory product market further attributes to the wide range of applications of chicory plants in various industries such as food, medicine, and cosmetics. Furthermore increasing prevalence of chronic diseases and the growing weight management industry is supporting the growth of the market. However, easy availability and wide acceptance of coffee may hamper the market.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of chicory products. The growth and trends of Chicory Products Industry provide a holistic approach to this study.
Market Segmentation
This section of the chicory products market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Instant Chicory
- Chicory Extracts
- Chicory Flour
- Roasted Chicory
By Application
- Healthcare
- Dietary Supplements
- Food & Beverage
- Others
By Sales Channel
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Chicory Products market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Chicory Products Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the chicory products market include Beneo, Royal Cosun, Cosucra, Gansu Likang Nutritional Foods Co. Ltd., Baiyin XIRUI Bioengneering Company, Qinghai Weide Biotechnology Co. Ltd., Novagreen Inc, The Tierra Group, French Meadow Bakery Inc., ITC Limited, C & F Foods Inc., Fuji Nihon Seito Corporation, Danisco A/S, Chicopee Mills Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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