Chicory Market Size & Share 2024 to 2032
Market Size by Product Type (Chicory Roots, Chicory Leaves, Chicory Flour, Chicory Inulin), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Specialty Stores), Form, Application & Global Forecast.
Report ID: GMI7050
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Published Date: October 2023
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Report Format: PDF
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Authors:
Kiran Pulidindi, Manish Mohanan
Chicory Market Size
Chicory Market size was valued at USD 717.15 million in 2023 and is estimated to expand at 5.6% CAGR from 2024 to 2032. The increased consumer demand in healthier and more sustainable food and beverage alternatives is driving the demand for chicory. Chicory is regarded for its possible health advantages, such as prebiotic characteristics and low-calorie content, making it an appealing component for products such as salads, coffee substitutes, and functional meals. Furthermore, chicory production is frequently more ecologically friendly since it uses fewer pesticides and water, harmonizing with the food industry's increased emphasis on sustainability and eco-conscious consumers.
Chicory Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Chicory root is utilized in a variety of functional food and beverage items due to its possible health advantages. It contains inulin, a form of dietary fiber that has been shown to improve digestive health. Chicory-based products may become more popular as people become more interested in functional meals and beverages.
Competition from well-established and extensively consumed beverages such as coffee and tea are a key limitation on the chicory market's revenue growth. In addition, coffee and tea are more readily available than chicory. They are widely accessible in supermarkets and restaurants, whereas chicory is frequently only available in specialist stores or online. This makes finding and purchasing chicory products more challenging for customers. Furthermore, coffee and tea are less costly than chicory. This is because chicory is a small crop that is more difficult to cultivate than coffee or tea. Some buyers may be put off by chicory's greater price.
COVID-19 Impact
The COVID-19 pandemic had a major impact on the chicory market, as it did on many other businesses worldwide. The pandemic affected worldwide supply chains, affecting chicory and related products production and distribution. Chicory harvesting and processing were hampered by lockdowns, mobility restrictions, and labour shortages. During the pandemic, consumer behaviour altered. While demand for chicory-based health items has been consistent, demand for chicory-derived products such as chicory coffee may have fluctuated.
Many individuals began drinking more home-brewed coffee, which may have an influence on the sales of chicory coffee alternatives. During the pandemic, many restaurants, cafés, and foodservice outlets were either shuttered or operated at reduced capacity. This had a direct influence on chicory product use in these settings.
Chicory Market Trends
Growing consumer awareness of the health advantages of chicory, its adaptability as a natural food and beverage component, and its expanding applications in the pharmaceutical and nutraceutical sectors are all contributing to the market's considerable upward trend. Chicory's popularity is rising as a result of a rising global demand for natural and plant-based products, providing prospects for market expansion, innovation, and diversification.
Chicory Market Analysis:
Based on product type, the chicory roots segment reached USD 284.5 million revenue in 2022. Chicory roots are becoming increasingly popular in the food & beverage industries, where they are used as a natural dietary fiber, a source of inulin, and prebiotic, as well as a coffee substitute or additive, appealing to health-conscious consumers looking for natural, plant-based ingredients and those looking for coffee substitutes with distinctive flavor profiles.
Based on form, the instant powder segment accounted for 40.2% of the chicory market share in 2022. This is because chicory instant powder is convenient and adaptable, as well as because sustainable and nutritious food items are becoming increasingly popular. Numerous culinary and beverage preparations, such as tea, coffee, smoothies, baking, and more, can use it.
Based on application, the food & beverages segment dominated around USD 339.2 million revenue in 2022. Chicory demand in the food & beverage sector is being driven mostly by its growing appeal as a natural and nutritious ingredient. Chicory is valued for its various applications, such as a source of dietary fiber and inulin, making it an appealing choice for food & beverage producers looking to cater to health-conscious customers. Its use in a variety of products, ranging from natural sweeteners to prebiotic additions, corresponds with the industry's emphasis on providing functional and healthy solutions, boosting demand for chicory in food & beverages.
Based on distribution channel, the chicory market size from supermarkets and hypermarkets segment held over USD 283.8 million in 2022. Chicory product distribution through supermarkets and hypermarkets is a key demand driver owing to its capacity to give customers with quick access to a diverse selection of chicory-based items in a single place. Supermarkets and hypermarkets provide a wide range of chicory products, from chicory coffee and inulin-based sweeteners to chicory greens, making it easier for customers to find and purchase these items.
Asia Pacific chicory market size recorded more than USD 265.4 million revenue in 2022. Chicory's rising popularity in the Asia-Pacific region is mostly due to growing awareness of its positive health effects, including its role as a source of inulin and dietary fiber, which promotes digestive health and general wellbeing. Chicory's appeal as a wholesome and adaptable food and beverage ingredient continues to increase, driving demand for chicory-based products in the APAC market as consumers become more health-conscious and look for natural and functional ingredients.
Chicory Market Share
Major companies operating in the chicory industry include:
Cargill Incorporated is a privately held American multinational company based in Minneapolis, Minnesota that specializes in food and agricultural products and services. Cargill manufactures chicory products such as chicory oligofructose, chicory inulin, chicory root fiber, and chicory syrups. Cargill is committed to ethical sourcing and sustainable agriculture.
Chicory Industry News
The chicory market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo Tons from 2018 to 2032, for the following segments:
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Market, By Product Type
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