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(Health-NewsWire.Net, May 31, 2021 ) 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.
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Based on type, the chicory market is dominated by instant powder. Additionally, it is further projected to grow at a faster growth rate during the forecast period. Instant chicory is another exclusive type and one of the most known products produced by processing chicory roots in the market. The instant powder provides consumers with convenience and ready-to-drink healthy products, offering benefits such as being caffeine-free and providing a similar taste to coffee.
By form, the chicory market is segmented into powder, liquid, cubes, and other forms. The powder segment dominated the global chicory market, on the basis of the form, in 2019. The wide availability and acceptability of the powder form of chicory across an array of applications, including food & beverages, dietary supplements, cosmetics & personal care, and pet food & feed, led to its leading position in the market.
The chicory market, on the basis of plant-part, was dominated by the root segment in 2019. Also, the same segment is projected to grow at a faster rate during the forecast period. The continuous developments and innovations introduce various uses of chicory root products. Chicory root is a completely natural food with many proven benefits and, after processing, is available in multiple forms.
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The European market accounted for the largest share in 2019. According to FAOSTAT, Europe contributed to over 95.5% of the global production of chicory roots. According to the same data, Belgium is the largest chicory roots producing county in Europe, followed by France, the Netherlands, and Poland. Consumers of chicory in Europe witness a high preference for clean-label products due to the increase in awareness pertaining to the consumption of natural and free-from products.
Leading companies are 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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