Global Chicory Products Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global chicory products market in its upcoming report titled, “Global Chicory Products Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global chicory products market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global chicory products market report has been segmented on the basis of product type, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Chicory, also known as Cichorium intybus, is a plant with blue, white, or pink flowers. This plant is native to Europe but is also found in Australia, China, and North America. Blanched buds and roots of this plant is used as a coffee additive. Chicory tastes like coffee and provides caffeine-free substitute beverages. Chicory contains potassium, vitamin C, vitamin A, fiber, and phosphorus. Roots and other parts of chicory plant are used as medicine for constipation, rapid heartbeats, gallbladder disorders, and cancer.
Increasing adoption of chicory for medicinal purposes are factors driving growth of the global chicory products market. Increasing preference of consumers towards healthy beverages is another factor fueling growth of the global market. Chicory does not compromise taste or color of coffee and provides additional health benefits, which is further propelling growth of the target market. In addition, increasing number of diabetic patients use of chicory since it contains insulin and it is also useful for treating skin diseases which are additional factors expected to drive growth of the global chicory products market.
However, consumption of chicory coffee by pregnant women can lead to miscarriage and in some cases chicory can cause skin rashes or other allergies. These are some major factors expected to hamper growth of the global chicory products market to a certain extent.
Development of novel chicory products and increased adoption of chicory in naturotherapy owing to its medicinal properties is expected to create high revenue opportunities for players in the target market.
The market in Europe accounts for largest market share in terms of revenue and is expected to maintain its dominance over the forecast period, owing to high production of chicory in the region. The market in North America is expected to account for second-highest share in the market in terms of revenue over the forecast period, owing to rising popularity of probiotic products among individuals in the region. The market in Asia Pacific is expected to witness stable growth especially in developing countries.
Global Chicory Products Market Segmentation:
Segmentation by product type:
- Instant Chicory
- Chicory Flour
- Roasted Chicory
- Chicory Extracts
Segmentation by application:
- Dietary Supplements
- Healthcare Industry
- Food and Beverage Industry
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- BENEO-Palatinit GmbH
- Cosucra Groupe Warcoing SA
- Coöperatie Koninklijke Cosun U.A.
- Baiyin XIRUI Bioengneering Company
- Gansu Likang Nutritional Foods Co. Ltd
- Tierra Group, LLC
- Qinghai Weide Biotechnology Co., Ltd
- Fuji Nihon Seito Corporation
- Sensus, LLC
- PMV Nutrient Product Pvt. Ltd.
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