Chicory

Chicory

Global Chicory Market to Reach US$1.0 Billion by 2030

The global market for Chicory estimated at US$784.8 Million in the year 2023, is expected to reach US$1.0 Billion by 2030, growing at a CAGR of 3.9% over the analysis period 2023-2030. Instant Chicory Powder, one of the segments analyzed in the report, is expected to record a 4.3% CAGR and reach US$540.4 Million by the end of the analysis period. Growth in the Roasted Chicory segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$213.8 Million While China is Forecast to Grow at 7.4% CAGR

The Chicory market in the U.S. is estimated at US$213.8 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$217.9 Million by the year 2030 trailing a CAGR of 7.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.3% and 3.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.

Chicory- Key Trends and Drivers

Chicory is a perennial plant known for its vibrant blue flowers and a long history of culinary and medicinal use. The plant`s roots, leaves, and flowers are all utilized in various applications. The roots are often roasted and ground as a caffeine-free coffee substitute or additive, while the leaves, commonly known as endive, are used in salads and cooking. Chicory is rich in inulin, a type of prebiotic fiber that promotes gut health, and is also valued for its potential health benefits, including aiding digestion, reducing inflammation, and supporting weight loss. Its versatility and nutritional profile make it a popular choice among health-conscious consumers and culinary enthusiasts alike.

In recent years, the demand for chicory has surged due to its health benefits and its role as a coffee substitute amid growing health trends. The increasing awareness of the negative effects of excessive caffeine consumption has led many consumers to seek alternatives, with chicory coffee emerging as a popular choice. Additionally, chicory`s high inulin content has made it a favored ingredient in the health food industry, particularly in products aimed at improving digestive health. Chicory leaves and roots are also being incorporated into a variety of functional foods and beverages, ranging from dietary supplements to innovative snacks. The plant`s adaptability to various climatic conditions and its role in sustainable agriculture further contribute to its rising popularity.

The growth in the chicory market is driven by several factors. Technological advancements in food processing have enabled the production of high-quality chicory products with enhanced taste and nutritional value. The increasing consumer preference for natural and plant-based foods has significantly boosted the demand for chicory as a versatile ingredient. Additionally, the expanding market for functional foods and beverages, particularly those targeting digestive health, has propelled the use of chicory in various formulations. The rise of the wellness industry and the shift towards healthier lifestyles have also played a crucial role in driving market growth. Moreover, the expansion of distribution channels, including online retail and specialty health food stores, has made chicory products more accessible to a global audience. Collectively, these factors are fueling the robust growth of the chicory market, reflecting a significant shift in consumer preferences towards healthier and more sustainable food options.

Select Competitors (Total 48 Featured) -

• BENEO GmbH
• Cargill, Inc.
• Cosucra Groupe Warcoing SA
• Delecto Foods Pvt., Ltd
• Farmvilla Food Industries Pvt. Ltd.
• Herbs And Crops Overseas
• Leo Coffee
• Murlikrishna Foods Pvt Ltd
• Nature`s Gold Production
• Pioneer Chicory
• PMV Nutrient Products Pvt. Ltd.
• Reily Foods Company

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