Chicory market is projected to grow at a CAGR of 3.8% during the forecast period. The major factors that drive the growth of the market include the various benefits possessed by it. Chicory is a perennial herbaceous plant that is consumed as a treatment for various disorders as well, as a nutritional supplement. The root of chicory is also used as a substitute for coffee. Chicory has various health benefits which include relief from arthritis pain, prevention from bacterial infections and heartburn, easing of digestive issues, strengthening immunity system, detoxification of the liver and gallbladder, and prevention from the risk of heart diseases. The root and leaves of the chicory plant are mainly consumed.
Some other benefits offered by chicory include probiotics source, aids in weight reduction, source of vitamins, minerals, folic acid, potassium, and magnesium, which contributes to the growth of the market over the forecast period. Besides, changing lifestyle patterns increased the occurrence of lifestyle-related health disorders such as diabetes, hypertension, and even obesity encourages the adoption of such herbs as an effective treatment method, hence, creating a scope for the growth of the chicory market over the forecast period. However, the factor that hinders the growth of the market is the various side effects associated with the excess consumption of chicory. The excess consumption of chicory leads to gas, bloating, abdominal pain, and belching among the people which challenges the growth of the market.
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Chicory Market Segmentation
By Product Type
- Chicory Root
- Chicory Leaf
By Applications
- Food & Beverages
- Pharmaceutical and Dietary Supplements
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Regional Analysis
- North America (United States)
- Europe (Belgium, France, Poland, the Netherlands)
- Asia-Pacific (Thailand, India, and Others)
- Rest of the World (South Africa)
Competitive Landscape
- BENEO GmbH
- Cargill Inc.
- Cosucra Groupe Warcoing SA
- Delecto Foods Pvt. Ltd.
- Farmvilla Food Industries Pvt. Ltd.
- Jamnagar Chicory Industries
- Narasus Coffee Co.
- Nature’s Gold Production
- Pioneer Chicory
- PMV Nutrient Products
- STOKROS Co. Ltd.
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