Chicory Market Size, Share, Growth, and Industry Analysis by Type (Chicory Flour, Roasted Chicory, Chicory Inulin, Others), by Application (Beverage Industry, Food Industry, Health Care Products and Medicines), and Regional Forecast to 2032

Updated On: 29 April 2024

Chicory Market Report Overview

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The global Chicory market size was USD 601.3 million in 2020 and market is projected to touch USD 1182.74 million by 2032, exhibiting a CAGR of 5.8% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with chicory market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

Chicory   is a somewhat woody, perennial herbaceous plant of the dandelion family usually with bright blue flowers, rarely white or pink. The market is undergoing robust growth due to the growing demand for healthy and natural food products. Consumers are becoming more sensible about their dietary choices and offers various health aids such as better-quality digestion, reduced irritation, and enhanced liver function. It is a multipurpose plant with numerous nutritional and medicinal properties is achieving popularity as a substitute to coffee and an ingredient in various food products. It has also gained immense popularity in animal feed additives as a prebiotic element and a substitute for antibiotics to promote health and prevent illness. The increasing demand for additional products & energy bars due to health awareness is the opportunity factor for market growth. Its root is a high-fibre, low-calorie food that is also low in fat. It helps to prevent kidney stones, helps to maintain healthy weight, functions as natural relaxant. Additionally, its low price points make it suitable for majority of the organic and all-natural food & beverage product manufacturers. All these features result into the control of this sector in the worldwide market. The densely populated countries in the region with higher risks of chronic diseases such as obesity and heart-related issues are projected to augment the growth in demand. Its root powder is used in baked goods and other food products as a substitute to sugar and fat as well as a texturizer. As work and life stress increases and life is busy the world’s population begins to consume more and more coffee to upsurge focus and attention on work. Participants are fixing their efforts on encouraging R&D.

COVID-19 Impact: Pandemic hampered the market due to unexpected disruption in the sector

COVID-19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID-19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Chicory Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into chicory flour, roasted chicory, chicory inulin, others.

Chicory flour capture the maximum market share through forecast period.

• By Application Analysis

According to application, the market can be segmented into Beverage industry, food industry, health care products and medicines.

Chicory market players cover segment as beverage industry will dominate the market share during forecast period.

Driving Factors

"Increase in demand coffee alternative to boost the market growth"

The demand for coffee substitutes is on the rise due to factors such as caffeine sensitivity the desire for caffeine-free options and the search for alternatives with lower acidity levels. With its rich flavour and coffee-like features is achieving popularity as an ultimate substitute. Coffee mixes usually contain ground chicory to enhance the richness of the coffee. Rising awareness regarding fitness and drinking coffee is the most significant reasons for the local market development.

"Rise in diabetic patients have grown need for low calorie diet which upsurges the market."

Chicory root fibre has been shown to help reduce sugar consumption by improving taste and texture, leading to its increased use in the food and beverage industry. While its leaves and roots have been used in salads and a variety of innovative and delicious recipes for several years. It is used to treat a variety of health problems including liver and gallbladder disorders, cancer, and other severe gastrointestinal issues.

Restraining Factors

"Distinctive taste to hamper the market growth"

Chicory is frequently known as a caffeine free substitute to coffee but it does not compromises the same quality appearance. Coffee beans hold a distinct taste and aroma of dark coffee but chicory coffee has to some extent bitter flavour with a nutty and herbal trace. Individuals find tough to replace coffee with chicory which may delay the chicory market growth.

Chicory Market Regional Insights

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"Asia Pacific to dominate the region due to changing lifestyle"

Asia Pacific is further expected to witness growth in the chicory market share. The region is dominating the market due to rising demand for functional foods and beverages, rising health consciousness and changing lifestyles. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage."

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Beneo (Germany)
• Cosucra (Belgium)
• Xylem Inc (U.S.)
• Leroux (France)
• PMV Nutrient Products (India)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.