Global Chicory Extracts Market, By Type (Instant Powder, Roasted, Extracts, Flour and Other Types), Form (Powder, Liquid, Cubes and Other Forms), Application (Food & Beverages, Dietary Supplements, Feed & Pet Food and Cosmetics & Personal Care), Plant Part (Root, Leaf and Other Plant-Parts), Distribution Channel (Supermarket, Specialty Store, Grocery, Online Retails and Others), Country (U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Turkey, Netherlands, Russia, Poland, Denmark, Sweden, Romania, Belgium, Rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, New Zealand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific, Brazil, Peru, Colombia, Rest of South America, South Africa, Saudi Arabia, U.A.E., Kuwait, Qatar, Ethiopia, Israel, Azerbaijan and Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Global Chicory Extracts Market
Chicory extracts market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the chicory extracts market to grow with USD 981 million at a CAGR of 5.40% in the above-mentioned forecast period. Emergence of modern retail, increasing adoption of chicory for medicinal purposes, and rising demand for chicory ingredients for healthy beverages has been directly impacting the growth of chicory extracts market.
Chicory is a herbaceous plant with blue flowers, or pink or white flowers. The chicory plant is grown as a livestock feeder in Europe. Currently, the plant is widely grown in North America, Australia, and China. Many parts of the chicory plant are helpful. For example, the leaves are grown into a salad, the roots are replaced by coffee and food additives. Recently, inulin, extracted from the chicory plant, commonly referred to as chicory extract, has gained popularity in the food market as a source of healthy dietary fiber and as a 10% sucrose-based natural beverage.
Naturally, chicory extract is simply a starchy polysaccharide, which increases the use of chicory extract as an alternative to starch. The growing use of chicory extract as a sweetener is expected to drive the growth of the chicory extract market. Chicory extract is obtained from the roasted chicory root. Chicory extract contains inulin-type fructans, which are beneficial for the improvement of bowel movements. The lifestyle patterns and habits followed by the population currently has led to a widespread occurrence of lifestyle-related health disorders and diseases, which include obesity, diabetes and hypertension. Incorporation of functional foods such as chicory extract in on a daily basis is believed to be protective against such diseases.
Busy lifestyles, rising disposal incomes, growing awareness regarding preventive healthcare measures, and maintaining better health is the main driving factor for the chicory extracts market. Cosmetic & personal care industry in developing and underdeveloped countries, owing to its anti-inflammatory and anti-oxidants properties is also a driver for the chicory extracts market. Highly increasing cultivation of chicory roots and hence the production of instant chicory powder across major countries is also a driver for the chicory extracts market. Due to its probiotic properties or as a digestive aid it is being used to provide significant nutrition in the animal.
Various cosmetic companies are now using chicory ingredients in their products. The chicory root oligosaccharides work to boost the skin’s collagen while smoothing the appearance of fine lines and wrinkles which is an opportunity for the chicory extracts market.
Lack of awareness of chicory extracts is a challenge for the growth of chicory extracts market. However, health risks associated with excessive use of chicory extracts and high technical expertise required for production of chicory extracts is the main restraint for chicory extracts market during the forecast period of 2021-2028.
This chicory extracts market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research chicory extracts market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
In July 2020, BENEO GmbH expanded its chicory root fiber production facility in Chile by 2022. Due to growing interest in chicory root fibers from food and drink manufacturers around the globe, creating a huge market need for BENEO’s inulin and oligofructose ingredients.
Chicory Extracts Market Scope and Market Size
Chicory extracts market is segmented on the basis of type, form, application, plant part and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Chicory extracts market has been segmented based on type, into instant powder, roasted, extracts, flour and other types.
- Based on form, the chicory extracts market is segmented into powder, liquid, cubes and other forms.
- Based on application, the chicory extracts market is segmented into food & beverages, dietary supplements, feed & pet food and cosmetics & personal care.
- Based on plant part, the chicory extracts market is segmented into root, leaf and other plant-parts.
- Based on distribution channel, the chicory extracts market is segmented into supermarket, specialty store, grocery, online retails and others.
Chicory Extracts Market Country Level Analysis
Chicory extracts market is analysed and market size insights and trends are provided by country, type, form, application, plant part and distribution channel as referenced above.
The countries covered in the chicory extracts market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the chicory extracts market due to growing food & beverage industry, along with the rising cultivation and production of chicory, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to untapped potential, growing awareness among the population, rising investments from the global key players, and increasing economic developments, among others. The densely populated countries in the region with higher risks of chronic diseases such as obesity and heart-related issues are expected to bolster the growth in demand for chicory.
The country section of the chicory extracts market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Chicory Extracts Market Share Analysis
Chicory extracts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to chicory extracts market.
The major players covered in the chicory extracts market report are HERBS & CROPS OVERSEAS, Jamnagar Chicory Industries, Shaanxi Sciphar Natural Products Co., Ltd., NP Nutra, Narasu’s Coffee Company, Organic Herb Trading Co, Nature’s Gold Production, STOKROS Company Ltd, Starwest Botanicals, Murlikrishna Foods Pvt Ltd, Farmvilla Food Industries Pvt Ltd, PMV Nutrient Products Pvt Ltd., Pioneer Chicory, Reily Foods Company, Cargill, Incorporated, Leroux, Sensus, BENEO GmbH, Delecto Foods Pvt Ltd, Cosucra Groupe Warcoing among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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