Fior Markets launched a study titled “Global Chicory Products Market by Product Type (Chicory Flour, Roasted Chicory, Instant Powder, Chicory Extract), Application (Food & Beverages, Pharmaceuticals, Dietary Supplements),Region” and Global Forecast 2018-2025.
The global chicory products market is expected to grow from USD xx million in 2017 to USD xx million by 2025 at a CAGR of xx% during the forecast period from 2018-2025. The market is driven due to the key factors including emergence of modern retail, increasing adoption of chicory for medicinal purposes, and rising demand for chicory ingredients for healthy beverages.
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Product type segment includes chicory flour, roasted chicory, instant powder, and chicory extract. The chicory flour is wide used in various fields of food and beverage, dietary supplements, pharmaceutical and others. It contributes in improving the richness, texture, conservation, and the freezing resistance of all bread products. It has advantages such as stimulation of insulin secretion and prevention of liver damage.
Application segment covers food & beverages, pharmaceuticals, and dietary supplements. In the food and beverage industry, chicory products is majorly used to add fiber and texture in yogurt, ice cream, chocolate bar, breakfast bar, salad dressing, and margarine applications. The chicory root is commonly processed for food & beverage industry.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Europe region accounted highest market share in the global chicory productsmarket due to high production of chicory and high presence of chicory root manufacturers in the region
The major players of market include are BENEO-Palatinit GmbH, Qinghai Weide Biotechnology Co., Ltd, Fuji Nihon Seito Corporation, CoöperatieKoninklijkeCosun U.A., CosucraGroupeWarcoing SA, Sensus, LLC, PMV Nutrient Product Pvt. Ltd., Tierra Group, LLC, Gansu Likang Nutritional Foods Co. Ltd, Baiyin XIRUI Bioengneering Company, Narasus Coffee Company, Starwest Botanicals Inc, Chicobel Pvt Ltd, Leroux, Pioneer Chicory, Prewett’s Health Foods, and among others. For instance, in 2019, KeyGenepartnered with EU financed CHIC-research consortium on chicory research. The research aimed for establishment of a responsible innovation for the development and application of New Plant Breeding Techniques (NPBTs) for chicory as a multipurpose crop
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