The scope of the global Chicory Market was projected at US$ 220.6 million in 2018 and is estimated to develop by a CAGR of 4.2% for the duration of the forecast. The chicory industry is expected to touch US$ 294.2 million by the completion of 2025.
The Chicory (Chi corium intybus) is, to some extent, a recurrent herbaceous plant of the dandelion group. Generally, it is having flowers with bright blue color. It hardly has pink or white flowers. It originates all over portions of Europe, Africa, and additionally comfortable areas of the world. Usually its roots are treated for foodstuff & beverage manufacturing. The leaves of the plant are also in demand in markets, everywhere in the world. The leaves are utilized in the making of salads and consumed uncooked as vegetation.
The products of chicory largely consist of three type’s; inulin, flour, and roasted. Each category has its own respective industry of application. Due to the flavor and medicinal result of chicory the industry will require additional products. Therefore, it has an enormous market prospective in the future. The companies operating in the field are trying to manufacture the product having better quality by means of refining the technology.
Growing alertness about the fitness benefit of it is the fundamental motivator of the development. Chicory is utilized for the treatment of cancer, high blood pressure, constipation, gallbladder complaints, loss of appetite, and other health situations. In the situation of inflammation and swelling the paste of leaves can be openly applied on skin. Despite of the fitness profits, use in the manufacturing of foodstuff & beverage is expected to trigger the demand for the product, furthermore.
Increasing demand for gluten-free starters is expected to increase its ingestion in Europe. Overview of inventive chicory formulas is expected to increase the demand for the product. Growing usage of it in appetizers, salads and by way of the substitute to crackers and gluten comprising products is expected to additionally motivate its ingestion. The companies operating in the market are increasing their volume of processes and storing to encounter the increasing demand. The dealers are watching to take advantage of this development by way of developing additional pre-packaged choice for the customers.
The global chicory market can be classified by Application, Product, Type, and Region. By Application it can be classified as Dietary Supplement, Foodstuff & Beverages, Healthcare Products & Medicines and others. By Product, it can be classified as Leaf, Root. By Type, it can be classified as Inulin, Flour, Roasted and others.
By Region the global chicory industry can be classified as North America, Europe, Asia Pacific, and Rest of the World. Europe held the principal share of the market (82.2%) in 2018. Growing alertness regarding fitness and drinking of chicory coffee are the most important motivators for the local market development. Belgium was responsible for 47.3% share of the global income during 2018. Growing demand for sugar substitutes is expected to motivate the local market during the period of forecast.
North America is projected to develop by a CAGR of 5.2% during period of forecast. Growing production together with the increasing alertness about the fitness welfares of the product is estimated to motivate the market. The U.S.A. is one of the biggest customers and was responsible for above 80% share of the market in North America, during 2018.
Some of the important companies for chicory market are FARMVILLA, Violf, Sensus, Beneo, PMV Nutrient Products, Leroux, Cosucra, Jamnagar Chicory Industries, Nature’s Gold Production, Leroux, Wilmar Delecto Foods Pvt. Ltd., STOKROS Company Ltd., Organic Herb Trading Co., Pioneer Chicory, Star west Botanicals and Cargill, and Incorporated.
Chicory Product Outlook (Revenue, USD Million, 2015 - 2025)
• Chicory Root
• Chicory Leaf
Chicory Application Outlook (Revenue, USD Million, 2015 - 2025)
• Food & Beverage
• Dietary Supplement
Chicory Region Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Rest of the World
Research Support Specialist, USA