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The Chicory Ingredients Market is undergoing dynamic shifts driven by various factors that shape its market dynamics. Chicory, a versatile plant known for its roots, leaves, and flowers, has found widespread applications in the food and beverage industry. One of the primary drivers of this market is the growing consumer awareness of health and wellness. As more individuals seek healthier alternatives, the demand for natural and functional ingredients, such as those derived from chicory, has surged. Chicory is rich in inulin, a prebiotic fiber known for its digestive health benefits, making it a preferred choice for health-conscious consumers.
Moreover, the market dynamics are significantly influenced by the increasing trend of clean label products. Consumers are increasingly inclined towards products with transparent and easily understandable ingredient lists. Chicory ingredients, being natural and plant-based, align well with this clean label trend. Food and beverage manufacturers are incorporating chicory-derived ingredients into their products to meet consumer preferences for clean and wholesome nutrition. This shift is prompting market players to invest in research and development to create innovative chicory-based formulations that cater to a broad spectrum of consumer needs.
The global market dynamics of chicory ingredients are also shaped by the growing interest in plant-based diets. With a rising number of individuals adopting vegetarian and vegan lifestyles, there is a surge in demand for plant-derived ingredients. Chicory, with its diverse applications in food and beverage products, is gaining traction as a valuable plant-based ingredient. This trend is fostering collaborations and partnerships within the chicory ingredients market as companies strive to leverage each other's strengths to meet the evolving demands of consumers.
Furthermore, the market dynamics are influenced by the geographical distribution of chicory cultivation. Regions with conducive climates for chicory cultivation, such as parts of Europe and North America, play a crucial role in the overall market dynamics. Weather conditions, soil quality, and agricultural practices in these regions directly impact the availability and pricing of chicory-derived ingredients. Market players closely monitor these factors to anticipate fluctuations in the supply chain and ensure a stable market presence.
Another factor contributing to the dynamic nature of the chicory ingredients market is the continuous innovation in extraction and processing technologies. Advances in technology enable the extraction of chicory components with enhanced functionality and purity, opening up new possibilities for product development. These technological advancements also contribute to the diversification of chicory applications, extending beyond traditional uses to include a broader range of food and beverage products.
Chicory Ingredients Market Highlights:
Global Chicory Ingredients Market Scenario
Chicory Ingredients Market size is anticipated to reach at a USD 298.2 Million with 5.2% CAGR by 2024 To 2032. Chicory Ingredients is witnessing a high growth in the market due increasing adoption of chicory in industries such as food & beverage, pharmaceutical and dietary supplement. It is also cultivated as a forage plant for animal feed. In addition, chicory plays a role as antioxidant, anti-inflammatory, sedative, cardiovascular, hypolipidemic, anticancer, anti-protozoal, anthelmintic, gastro-protective, analgesic, antidiabetic, antimicrobial. Thus, due to these properties, chicory ingredients are gaining popularity.
The market players are focusing on their R&D activities to launch new and innovative products containing chicory ingredients, as there is an increasing demand for natural and prebiotic ingredients in the market. In addition to this, chicory extract helps in reducing the levels of hepatic enzymes in human body including aspartate aminotransferase (AST), alanine aminotransferase (ALT), and alkaline phosphatase (ALP). Moreover, chicory ingredients are considered as an important protective source for hepatocytes and liver cells as well as it is used as prebiotic against both vivo and in vitro species of pathogenic bacteria. Also, it enhances immunity and feed efficiency by decreasing pathogenic microorganisms of gastrointestinal tract. Thus, owing to these factors the chicory ingredients market is expected to witness high growth in the future.
Segmentation
The global chicory ingredients market has been segmented based on type, category, application, and region.
By type, the global market has been classified as leaves, root, flowers, and seeds.
Based on category, the global chicory ingredients market has been classified as organic, and conventional.
On the basis of application, the global chicory ingredients industry has been divided into food & beverages, pharmaceuticals, dietary supplements, and others. Food & beverage segment is further divided into bakery & confectioneries, dairy & frozen desserts, beverages, and others.
The global chicory ingredients market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American chicory ingredients market has further been segmented into the US, Canada, and Mexico. The European chicory ingredients market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The chicory ingredients industry in Asia-Pacific has been divided into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The chicory ingredients market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Regional Market Summary
Global Chicory Ingredients Market Share (%), by Region, 2017
Type: Secondary Types and MRFR Analysis
Europe is expected to dominate the chicory ingredients market during the forecast period. The region’s dominance can be attributed to various factors such as the presence of several market players, increasing usage of chicory in various industries. Chicory ingredients provides several health benefits, which leads to its usage in maintaining bone health, help cleanse the blood and improves liver health. Increasing usage of chicory ingredients in cooking, pharmaceuticals, and dietary supplements by consumers in Asia-Pacific is expected to render a significant share of the market to Asia-Pacific during the upcoming years. However, North America is anticipated to register the highest CAGR due higher inclination of food & beverages industry for using chicory in various products, due to the presence of prebiotic fibre known as inulin.
Global Market, by Type
- Leaves
- Root
- Flowers
- Seeds
Global Market, by Category
- Organic
- Conventional
Global Market, by Application
- Food & Beverage
- Bakery & Confectionary
- Dairy & Frozen Desserts
- Beverages
- Others
- Pharmaceuticals
- Dietary Supplements
- Others
Global Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia and New Zealand
- Rest of Asia-Pacific
- Rest of the World (RoW)
- South America
- Middle East
- Africa
Key Players in the Global Market
- BENEO-Palatinit GmbH (Germany)
- Cosucra Groupe Warcoing SA (Belgium)
- Coöperatie Koninklijke Cosun U.A. (Netherlands)
- Baiyin Xirui Biological Engineering Co., Ltd. (China)
- Gansu Likang Nutritional Foods Co, LTD (China)
- The Tierra Group (US)
- The Qinghai Weide Biotechnology Co., Ltd. (China)
- Fuji Nihon Seito Corporation (Japan)
- Novagreen Inc. (Canada)
- PMV Nutrient Products Pvt. Ltd. (India)
Intended Audience
- Chicory Ingredients producers/processors
- Food & beverage manufacturers
- Pharmaceuticals manufacturers
- Raw material suppliers and distributors
- Traders, exporters, and importers
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