Chicory Root Market

Chicory Root Market Size (2024 to 2029)

Chicory Root Market shares value is estimated to grow at a CAGR of 5% during the forecast period of 2024-2029 to reach 1.3 billion USD by the year 2029 and 1.02 billion by 2024.

Chicory (Cichorium intybus Sativum) is a Mediterranean blue flowered plant belonging to the daisy family. It is native to Africa, Asia, South Asia, and Europe. Chicory has been popularly used as a coffee substitute as it is caffeine free and isn't addictive; people trying to replace Coffee often use Chicory as an additive or alternative together to coffee; the flavor of Chicory is similar to roasted Coffee. Chicory plant is useful, but mostly the roots are used for consumption. Chicory plant also has numerous health benefits and is dense in nutrients; The Chicory roots are also a rich source of Inulin, a type of soluble fiber. Inulin is Fructans and a prebiotic which helps to main good health of the gut. It has a mild laxative effect and also lowers the risk of many Gut related disorders significantly. Along with Inulin, Chicory is also rich in flavonoids, coumarins, tannins, alkaloids, and volatile oils. 

The Chicory Root Market can grow with new and innovative products, Chicory Roots can be dried, and the shelf life of the Chicory Roots can be extended considerably. The Chicory can be used in several different products like Green Tea and Matcha tea products innovated. Growing demand to produce instant chicory powders in Emerging countries like India is leveraging the growth opportunities for the market. 

Chicory Root Market Drivers:

Alternative to Coffee, Coffee is high in caffeine which may cause unwanted symptoms like Jitters, anxiety and nervousness, and insomnia. Chicory is a good alternative to Coffee as it’s similar to coffee in taste and texture as well. Coffee can cause gastrointestinal discomfort as well in some people; Chicory, because of its high Insulin Content, has the opposite effect and helps in digestion and digestion-related problems. The Price of Coffee is also around ten times more expensive than Chicory, which makes Chicory a perfect choice for cost-sensitive consumers. The numerous advantages that Chicory has over Coffee propel the Chicory Root Market demand. 

The Chicory roots are high in Inulin which is an excellent prebiotic Fructans. This helps with digestion-related problems. It is even mentioned in the Indian Medicine Ayurveda. Chicory is also Gluten free and has no caffeine in it, which gives it superiority over other gluten foods available in the stores. This factor propels the Chicory Root Market growth. Due to the growing awareness and acceptance, the Chicory Root Market size is expected to continue growing during the forecast period.

Chicory Root Market Restraints:

Stimulant, despite being similar to coffee, Chicory has not the same attributes, while it has a calming effect. The consumer habits and the marketing by big players in the industry give Coffee a competitive edge over the Chicory Root Market value. Long-term consumption of Chicory root and high consumption of Chicory root has been found to have unwanted side effects; these include mild side effects like inducing allergic reactions, Iron absorption, decrease in bone density, and issues related to Male fertility. Chicory is also advised by doctors to avoid during Lactation and Pregnancy; this indicates Chicory in large amounts or even during long-term use can cause both mild and major health complications. All these attributes are hindering the market growth rate. 

Impact of COVID-19 on the Market:

The COVID-19 pandemic had lasting effects on several large-scale industries and markets; The COVID Pandemic had a mixed impact on the Chicory Root Market. COVID-19 resulted in people working at home, and the cafe and baristas were closed due to the lockdown. The pandemic affected Global Coffee prices and disrupted the supply chain; this forced companies to use Chicory or increase the concentration of Chicory in instant coffee. This had an indirect impact on the shares of the Chicory root market. The Pandemic also disrupted the global supply chains of the global Chicory Root Market, as this plant only grows in selected areas. COVID-19 also set the trend in the market towards healthier lifestyle choices which inclined the consumers towards alternatives to coffee due to the caffeine content; decaffeinated coffee is a premium product with a higher cost in comparison to Chicory, which helped the Chicory Root Market grow.

REPORT COVERAGE: 

This research report on the Chicory Root Market has been segmented and sub-segmented based on type, plant part, application, and region. 

Chicory Root Market - By Type:

• Chicory Instant Powder
• Roasted Chicory
• Chicory Extracts
• Others

By type, the Chicory Instant Powder holds the highest share in the Global Chicory root market. This segment dominates the market due to its wider usability; it can be added to drinks or other condiments to enhance flavors. It is added to Coffee to adjust the flavor or reduce the caffeine content; the large-scale coffee manufacturers mix Chicory with their Coffee blend to protect the profit margins due to rising coffee prices on the global market. The powdered form of chicory is usually made from roasted chicory.

Chicory Root Market - By Plant Part:

• Root
• Leaf
• Other parts

Every part of the Chicory plant is used or consumed, and the root of chicory holds the highest shares; this is because the roots are the main part of the plant, and the chicory powder is made from it. Roots are also fed to livestock and farm animals as feed as it helps in the digestion process of these animals. Leaf and flowers are usually used as Salads and eaten raw or boiled.

Chicory Root Market - Application:

• Food & Beverages
• Dietary Supplements
• Cosmetics & personal care
• Others

The food and beverages sector dominates this segment due to the wide applications of Chicory in Food and Beverages in the Chicory Root market. The roots of Chicory are used for Chicory powder, and the leaves and flowers are consumed as a salad raw or cooked. The Chicory is also used to make flavored bakery and other food products due to the mild sugary taste in it. The dietary supplements sector is rapidly growing due to the properties of Chicory in gastrointestinal and digestive-related abilities.

Chicory Root Market - Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The Europe region is estimated to dominate the region with the highest shares in the global Chicory Market; this is due to higher consumer spending and a large market for coffee and bakery products that use Chicory roots. The Asia Pacific is the fastest growing region in the Global Chicory Market; the growth can be attributed to increasing awareness and a shift towards healthier lifestyle choices in people; the Chicory Market growth is estimated to be largely contributed by the Asia Pacific during the forecast period.

KEY MARKET PLAYERS:

Key Market Players of Chicory Root Market are COSUCRA. (Belgium), Delecto Foods Pvt Ltd (India), BENEO (Germany), Cargill Incorporated (U.S.), Reily Foods Company (U.S.), Pioneer Chicory Root (India), PMV Nutrient Products Pvt Ltd. (India), Farmville Food Industries Pvt Ltd (India), Murlikrishna Foods Pvt Ltd (India), Starwest Botanicals. (U.S.), STOKROS Company Ltd (Russia), Natures Gold (Netherlands), Organic Herb Trading (U.K.), Shaanxi Sciphar Natural Product Co Ltd. (China), Jamnagar Chicory Root Industries (India), Herbs & Crops Overseas (India).

RECENT HAPPENINGS IN THE MARKET:

In 2021, Beneo, a multinational company functional food manufacturer, announced an investment of more than 34 million USD into a plant in Chile to increase its shares in the Chicory Root Market by 40%, attributing to the rising demand for natural organic healthy food ingredients. This decision is expected to give Chicory Root Market steep growth.