Global Chicory Market Rides the Vegan Wave
Chicory, predominantly known for its use as a coffee substitute, is a perennial herbaceous plant native to Europe and Asia Pacific. It is a rich source of soluble fibre and bioactive compounds, inulin and oligofructose. Its high nutritional and medicinal properties make it a popular ingredient in functional food, beverages, and dietary supplements. Chicory is known to have less fat, sugar, calories, and no gluten. The global chicory market is riding the wave of veganism as plant-derived nutrients make their way to the functional food industry.
In recent years inulin has gained strong traction from health and wellness products. Chicory inulin is also considered a prebiotic as the substrate is used by the gut microorganisms to promote digestive health. It is a plant-derived natural ingredient used as a gelling, texturing and stabilizing agent across various food products.
Chicory has also gained immense popularity in animal feed additives as a prebiotic ingredient and a substitute of antibiotics to promote health and prevent illness. Health-conscious consumers opting for meat products with low additives and antibiotics are expected to have an indirect impact on the consumption of chicory in making animal feed additives. The market has also garnered tremendous support as numerous regulatory bodies have implemented stringent laws regarding the use of antibiotics in feed additives.
Chicory Application in Infant Food and Dairy Products to Propel Food Segment
The global chicory market is segmented on the basis of source, product type, application, and region. By source, the market is segmented into chicory root and chicory leaf. The chicory root segment is expected to account for the largest value share by 2025. Inulin derived from chicory root is expected to gain traction from the food and animal feed industry as a functional ingredient, which is expected to drive the segment growth over the forecast period.
Based on product type, the market is segmented into extract, roasted, and flour/powder. On the basis of application, the market is segmented into food and beverages, dietary supplements, animal feed, pet food, and cosmetics. The food and beverages segment is expected to represent substantial growth over the forecast period. Increased use of chicory extract as a prebiotic ingredient in dairy-based products coupled with rising demand from infant food is expected to support the segment growth over the forecast period.
Asia Pacific Likely to Represent Relatively High Value Growth
Globally, Europe is the largest producer of chicory with countries such as Belgium, Croatia, and France contributing mammoth shares in terms of production. Europe is also one of the biggest consumers of chicory. Increased demand of natural and plant-derived functional food ingredients coupled with increased demand for prebiotic ingredients is supporting the market growth in the region.
Asia Pacific is also expected to gain relatively high incremental dollar opportunity over the forecast period. Increased consumer awareness to maintain digestive health is expected to drive market growth in the region. Moreover, Asia Pacific is one of the largest producers of meat and poultry products. To meet the global demand for healthy meat products, producers prefer natural, plant-derived ingredients to reduce the impact of antibiotics. These factors are expected to create new growth opportunity in the Asia Pacific region.
Global Chicory Market: Key Players
In order to cater for the growing demand for chicory extract and to serve the billion-dollar prebiotic ingredient market, manufacturers are seeking to expand their production capacity. For instance, in March 2020, BENEO GmbH, one of the major producers of chicory extract since 1992, announced the expansion of its chicory root production facility in Chile, which is expected to be completed by 2022. To support this expansion the company invested more than US$55.6 million. Following this, in October 2020, the company also announced that it will begin processing organic chicory root fibre in order to serve the growing organic movement.
Similarly, Sensus (a part of Royal Cosun,) a leading supplier of food ingredient, announced to expand its chicory root production capacity by 2021. The strategic adoption was done in order to serve “plant-based, natural and better for you” products manufacturers.
Some of the major players studied in this report are Cargill Incorporated, Cosucra Groupe Warcoing, Sensus, Delecto Foods Pvt Ltd, BENEO GmbH, Leroux, Reily Foods Company, PMV Nutrient Products Pvt Ltd, Starwest Botanicals, and Nature’s Gold Production.
Key Elements Included In The Study: Global Chicory Market
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