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Chicory Market Size, Share, Industry, Forecast and outlook (2024-2031)

Chicory Market is segmented By Product Type (Chicory Extract, Roasted Chicory, Instant Powder, Flour), By Product Form (Powder, Liquid, Others), By End-User (Food & Beverages, Dietary Supplementary, Cosmetics and Personal Care, Animal Feed & Pet Food, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published: December 2024 || SKU: FB3190
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Market Overview

The Chicory Market is estimated to reach at a CAGR of 4.1% during the forecast period (2024-2031).

Chicory, or Cichorium intybus, is a dandelion-like woody herbaceous plant that is mainly is popular for its leaves and roots. As chicory root is a great source of inulin, a form of prebiotic fibre that has been linked to weight loss and better gut health. According to studies, chicory is a safe alternative to a number of ingredients in a variety of applications, including food and drinks, dietary supplements, feed and pet food, and cosmetics. Moreover, chicory is getting popular with a rising hike in coffee prices, as it has been suggested to be a better substitute for coffee, by various studies. Hence, a further hike in coffee prices and demand for sugar reduction solutions will propel the growth in demand for chicory.

Market Summary

MetricsDetails
Market CAGR4.1%
Segments CoveredBy Product Type, By Product Form, By End-User, and By Region
Report Insights CoveredCompetitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing RegionAsia Pacific
Largest Market Share Europe

 

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Market Dynamics

Growing prices of coffee powder are driving the growth of the market

The hike in coffee powder prices is the primary driver of chicory powder. The additional cost of roasting and grinding increases the production costs of coffee powder. While the cost of chicory is cut off by a huge amount because of its roasted roots which have been proved to be a great substitute for coffee. According to studies, due to the high demand for coffee and extensive exploitation of land for coffee, the amount of land suitable for coffee cultivation will be decreased by 60%, while the wild coffee species are under the threat of extinction by 2050. This scarcity of coffee can result in a higher much more hike in the prices of coffee. Thus, chicory is being widely accepted these days with the growing trend in price hikes of coffee powder. Countries like Finland, where the demand and consumption of coffee are very high, can serve as a great opportunity for the chicory market.

Moreover, large coffee companies that hold a couple of bestselling brands have increased their chicory content in their branded sachets to 49% from 30%. According to the managing director of Jyothi Chicory, India’s leading chicory manufacturer that supplies to all the leading coffee companies, “Earlier most coffee producers were offering blends with up to 30% chicory. Now virtually all my customers have raised it to 47%–49%.” This has highly increased the cultivation of chicory roots and hence the production of instant chicory powder across major countries. Direct consumer products made from chicory, such as the roasted chicory powder that is an absolute coffee substitute, are also very cheap; therefore, people now prefer more chicory because of its lower price, accompanied by significant health benefits and also is caffeine-free.

Despite, chicory’s popularity as a caffeine-free alternative to coffee, lacks the same qualities as coffee. The coffee bean has a distinct dark coffee taste and aroma. Chicory coffee, on the other hand, has a slightly woody bitter taste with a nutty and herbal undertone. People who are acquainted with the coffee taste might find it difficult to replace it with chicory, which can ultimately result in being a hindrance to the chicory market in near future.

Market Segmentation Analysis

Chicory is gaining popularity in the food industry owing to the trend of low sugar consumption

Sugar reduction is one of the latest developments in the food and beverage industry. Chicory root fibre has proved to help minimise sugar intake by enhancing taste and texture, which is led to its increased usage in the food and beverages industry. While chicory leaves and roots have been used in salads for several years and in a number of inventive and delicious recipes. As chicory provides solutions for many health issues like it is used for liver and gallbladder disorders, cancer and other acute gastrointestinal issues. In addition to these health benefits, it is also considered as a tonic for increasing urine production, protecting the liver and balancing the stimulant effect of coffee. This is also one of the reasons why it is highly popular in European regions, which initially started cultivation of chicory as a substitute for coffee during World War II, is now extensively using it in the sugar industry as well.

By plant-part, the root segment is projected to account for the largest share in the market during the forecast period. The root of the chicory plant has the most beneficial nutrients, required by the majority of the manufacturing players of various industries. The chicory-root consists of high inulin content, which is largely used as a fibre ingredient in various food & beverage products, also its other essential nutrients are consumed in other industrial applications, such as dietary supplements. Thus, the root plant-part segment dominates the majority market share.

Market Geographical Share

High cultivation of chicory and huge penetration as a coffee substitute made Europe the largest regional market

Europe dominates the chicory market with Germany, the U.K among the leading importers and Belgium, France and Netherlands being the largest cultivators of chicory. Since, chicory is a native of Europe, the usage of chicory in the food and beverages industry is quite high with chicory coffee being popular among all. Moreover, as chicory is cultivated in only 20 countries worldwide with Belgium, France and Netherlands being the biggest cultivators, with 15000 ha of the area under cultivation of sugar chicory, led to the huge market in this region. In Italy, chicory is grilled with olive oil while in the U.S., it is used in pizza, pasta, and risotto recipes. Such diverse uses are anticipated to bode well for the product demand in the forthcoming years.

Companies and Competitive Landscape

The global chicory market is fragmented with players like Cosucra Groupe Warcoing, Delecto Foods Pvt Ltd., BENEO GmbH, Sensus, Leroux, Cargill Incorporated, Reily Foods Company, Pioneer Chicory, PMV Nutrient Products and Farmville Food Industries which are pioneers in providing vitamin-rich supplements. These companies have adopted the strategy of acquisitions, mergers and product launches, to cater for the increasing demand for coffee substitute solutions for sugar reduction. For instance, BENEO GmbH announced in July 2020 that it will spend more than EUR 50 million to expand its chicory root fibre production facility in Chile by 2022. This was achieved as a result of increased demand for BENEO's inulin and oligofructose ingredients from food and beverage manufacturers all over the world. In July 2020, Approval was granted exclusively to Sensus’ Frutafit inulin and Frutalose fructooligosaccharides made from chicory roots by the Thailand FDA. This development would allow the company to penetrate the Thailand local market and thereby expand the consumer base in the digestive health market.

COVID-19 Impact:

Pandemic had a positive impact on global chicory market

As a result of the COVID-19 pandemic, the intake of ready-to-mix and ready-to-drink drinks has risen dramatically. Coffee, juices, and flavoured milk are among the most popular examples. The work-from-home culture rose in popularity as a result of lockdowns and curfews. This resulted in increased household consumption of coffee. To cater for the increased demand for coffee, the amount of chicory which was originally being added to coffee powder has increased and hence the market has seen a rise during this period. Moreover, due to the rising prices of coffee, most people were seen switching towards chicory coffee powders during pandemics.

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FAQ’s

  • Chicory Market is expected to grow at a CAGR of 4.1% during the forecast period 2024-2031.

  • Key players are Cosucra Groupe Warcoing, Delecto Foods Pvt Ltd., BENEO GmbH, Sensus, Leroux, Cargill Incorporated, Reily Foods Company, Pioneer Chicory, PMV Nutrient Products and Farmville Food Industries

  • Asia Pacific is the fastest-growing region in the Chicory Market.

  • Europe is the Largest Market Share in Chicory Market.
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