As per our research analysis, The Global Chicory Market size was valued at USD 711 million in 2021 and is predicted to grow at a CAGR of around 5.7% during the forecast period of 2022 – 2027
Market Overview:
Chicory was originally used as a medicine by the Egyptians and was found in regions such as Europe and Asia. Chicory, a member of the dandelion family, is a perennial herbaceous plant and is mainly used in salads. Chicory roots are roasted and used as an adjective instead of coffee. Chicory is popular for its health benefits, such as preventing heartburn, reducing arthritis pain, bacterial infections, strengthening the immune system, detoxifying the liver and gallbladder, reducing digestive problems, and reducing risk of heart disease. Chicory root, commonly used as a natural source of probiotics, also helps with weight loss. Increasing awareness that chicory plants are an excellent source of the vitamins, magnesium, minerals, folate and potassium will drive the growth of this market. Dried chicory root has been used as a medicine since ancient times. Dried and roasted chips are an alternative to decaffeinated coffee. Chicory root adds fiber to foods and has a creamy texture and are as smooth as palate like fat.
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Segmentation Analysis:
By Type:
The instant powder segment dominated the global Chicory Market in 2022 based on diversity because of the huge availability of the instant powder across various parts of the world.. In addition, most of the major players on the market offer a wide range of instant powders of chicory to the players in various application industries. Apart from that, the ease of consumption is one of the majority factors, that results in the largest consumption of instant powder type of chicory powder in the globe.
By Form: Cubes, Powder, Liquid
The instant powder segment dominated the global Chicory Market in 2022. Instant powder is widely used all over the world. In addition, the major dominant players on the market offer a wide range of chicory powders to players in various application industries. Depending on the morphology, powder morphology is used in a variety of applications. Other formats are relatively limited in use and are offered by a very small number of players on the market.
Furthermore, the powdered form is primarily manufactured by the major industry players, contributing to the largest share of the global Chicory Market in the form of 2022.
By Application: Dietary Supplement, Feed & Pet Food, Food & Beverage, Cosmetics & Personal Care
In 2022, the food and beverage sector were dominant. Chicory is often used instead of coffee. In addition, the leaves are consumed in various salads around the globe. Food and beverage manufacturers prefer this ingredient because of its inulin content and other essential nutrients.
Regional Analysis: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
The global Chicory Market is geographically divided into North America, Asia Pacific, Eastern Europe, Western Europe, the Middle East and Africa, and Latin America. Chicory roots are found primarily as wild plants that grow on roadsides in Europe. It is now also found in regions such as Australia and North America. Increasing use from the food and beverage sector is supporting the market domination of chicory in Europe. Chicory is cultivated mainly in the Netherlands, northern France and Belgium. The North America market has the potential to grow strongly in terms of increased selection of chicory and increased demand for clean-label foods. Europe is followed by Latin America. In North America, chicory root is used in the pharmaceutical industry to boost market growth. In Asia Pacific, developing countries such as China and India are one of the fastest growing regions due to pro-government policies and financial support for chicory agriculture.
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Latest Industry Developments:
- BENEO Invests in Legume Processing Facility BENEO, one of the leading manufacturers of functional ingredients, has announced that it will invest € 50 million in a new legume processing site in Off stein, Germany. The new manufacturing facility will further strengthen the company’s plant-based protein portfolio, enabling BENEO to meet the growing demand for plant-based food and feed ingredients.
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