The global chicory market size is anticipated to reach USD 294.2 million by 2025. It is projected to register a CAGR of 4.2% during the forecast period. The introduction of new chicory recipes is expected to increase the demand for chicory in the global market. The increasing use of chicory in salads, appetizers, and as a replacement for crackers and gluten-containing products is expected to drive the consumption even further.
Chicory is grilled with olive oil in Italy, while it is used in pizza, pasta, and risotto recipes in the U.S. Such a wide range of applications is expected to boost the product demand in the coming years. Chicory has a range of healing properties and encourages the development of beneficial microbial flora in the gut. Its root has a high concentration of natural inulin. According to a study, replacing sugar with the root helps in avoiding or postponing the development of diabetes. This factor is expected to provide opportunities for market growth over the forecast period.
Chicory Market Report Highlights
• On the basis of product, the chicory root segment held the largest market share of 70.4% in 2018. The segment is also expected to register the fastest CAGR during the forecast period.
• The chicory leaf segment is expected to expand at a CAGR of 3.5% from 2019 to 2025. Rising health consciousness is driving the demand for natural and organic products.
• The U.S. is one of the largest consumers of the product and accounted for more than 85% share of the North American chicory market in 2018.
• On the basis of application, the food and beverages segment held the leading share of the chicory market in 2018. In developed countries such as the U.S., Italy, and Germany among others, chicory is mixed with coffee and beetroot to mask the better taste of the coffee.
• Europe held the largest market share of 82.2% in 2018. Increasing health awareness and consumption of chicory coffee are the major regional growth drivers.
• In June 2020, Beneo has expanded its chicory root fiber and rice starch ingredient portfolio with two organic solutions. The launch of the new additions includes “Remyline O AX DR”, an organic waxy rice starch, and “Orafti Organic”, a chicory root fiber.
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Chicory Market Segmentation
Grand View Research has segmented the global chicory market by product, application, and region:
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)
List of Key Players of Chicory Market
• Cargill, Incorporated.
• Delecto Foods Pvt Ltd.
• Starwest Botanicals
• Pioneer Chicory
• Nature’s Gold Production
• Organic Herb Trading Co.
• Jamnagar Chicory Industries.
• STOKROS company Ltd.
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