The global Chicory Market size is estimated to be valued at USD 685 million in 2020 and is projected to reach USD 905 million by 2025, recording a CAGR of 5.7% during the forecast period. With the rising consumption of coffee beverage along with the rising prices of coffee beans and demand for organic and all-natural ingredient based products, the market for chicory is projected to witness a positive outlook, in the coming few years. Also, chicory is a cheaper substitute ingredient that has multiple applications across various industries. Owing to its caffeine-free and health benefitting characteristics, it has great potential to cater existing as well as newer application areas, with ongoing and continuous research. Thus, with all these factors accumulatively, the chicory market is expected to witness a substantial growth potential in the coming few years.
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By type, the instant powder segment is projected to account for the largest share in the chicory market during the forecast period
The instant powder segment dominated the global chicory market, on the basis of type, in 2019. This is due to the widespread acceptability and availability of the instant powder across the globe. Also, the majority key players prevailing in the market, offer a wide range of instant powders of chicory to the players of various application industry. Apart from that, the ease of consumption is one of the majority factor, that results in the largest consumption of instant powder type of chicory, across the globe.
By form, the powder segment is projected to have the highest growth in the chicory market during the forecast period
Powder form is the most popular form in which chicory is used for various applications. It is widely used as a mixture by key players in the coffee manufacturing industry to enhance its flavor and aroma. Additionally, the powdered form of chicory can be easily mixed in other products like bakery items. Due to wide availability and popularity the powder segment is projected to have the highest growth in the global chicory market during the forecast period. It also has the largest share in the market by form in 2019.
The Europe region dominated the chicory market with the largest share in 2019 as the region is the largest producer of chicory
The European market accounted for the largest share in 2019. Europe accounted to over 95.5% of the global production of chicory roots, according to the FAOSTAT. Consumers in Europe are highly aware and have high preference for clean-label products due to the increasing concerns over synthetic products. This has presented the chicory manufacturers the increased demand form Europe. Most of global players engaged in the manufacturing and marketing chicory products in the global market also have their headquarters in European region. These factors are anticipated to drive the growth of chicory market in the region.
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Key players in this market include Cosucra Groupe Warcoing (Belgium), Delecto Foods Pvt Ltd (India), BENEO GmbH (Germany), Sensus (Netherlands), Leroux (France), Cargill Incorporated (US), Reily Foods Company (US), Pioneer Chicory (India), PMV Nutrient Products Pvt Ltd (India), Farmvilla Food Industries Pvt Ltd (India), Murlikrishna Foods Pvt Ltd (India), Starwest Botanicals (US), STOKROS Company Ltd (Russia), Nature’s Gold Production (Netherlands), Organic Herb Trading Co (UK), Narasu’s Coffee Company (India), NP Nutra (US), Shaanxi Sciphar Natural Product Co Ltd. (China), Jamnagar Chicory Industries (India), and Herbs & Crops Overseas (India).
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