Future Market Insights
Chicory was originally found in Europe and Asia. The Egyptians grew it thousands of years ago as a medicine. Chicory plants, also known as Cichorium intrybus L. is an herb plant which belongs to the family Compositae which is also known as succor, blue-sailors and ragged-sailors. The leaves of chicory plant are used as pot-herb or as a salad. The dried roots of the chicory plants are used as a medicine since ancient times and the dried and roasted root is used as a substitute for a coffee as it contains no caffeine, consumption of low caffeine lower epinephrine and cortisol levels when sleeping in a stressful life circumstances, it helps in reducing caffeine consumption and checks cortisol levels which reduce stress which has a sweet pleasant taste. Chicory roots are baked and grounded then it is used as a coffee substitute and also known as coffee weed. It adds fiber to foods and has a smooth & creamy feeling in the mouth similar to fat, which is a great fat replacement products.
Chicory root contains up to 8% inulin which cannot be broken down by human digestive enzymes and used in high-fiber and gluten-free products which are done by pulling the inulin from the roots of the chicory plants. Chicory roots are fibrous in nature, due to the fibrous composition that is why it is not digested in the small intestine, but maintains its forms and travels to the large intestine. Chicory roots are most commonly used for medicine used for reducing weight loss, constipation, etc.
Chicory Roots Market: Segmentation
Chicory roots market is segmented on the basis of product type, application and end-use industry. On the basis of product type chicory roots are segmented in chicory root powder and inulin. Chicory root powder resembles with regular coffee and also has various health benefits. Inulin is derived from chicory roots, which can be seen in low-fat or dairy-free yogurt, ready to eat protein shakes. Among these segments inulin contributes higher market share in terms of value and expected to remain constant over the forecast period. Increasing health awareness among the consumers is driving the inulin segment growth. Inulin is also known as prebiotic ingredient which supports the natural, healthful bacteria in the lower Gastro Intestinal (GI) tract.
On the basis of end use applications chicory roots market is segmented as food and beverages, pharmaceutical industry and dietary supplements. Further food & beverage segment can be sub-segmented into dairy & frozen desserts, bakery & confectionery products, energy bars, breakfast cereals & granola products and beverages. Inulin provides a creamy texture and also makes food products healthier by adding fiber without the calories. Inulin is a type soluble dietary fibers and added to various food & beverage products to improve nutritional properties without altering the functional properties.
Chicory Roots Market: Region wise outlook
Chicory roots are native to Europe and live as a wild plant on roadsides, now it is also common in North America and Australia where it has become widely naturalized. Europe has dominated the regional demand for food and beverage application followed by Latin America. North America market in the pharmaceutical industry is likely to grow at steady rates. Asia Pacific is the fastest growing region, India and China market is expected to benefit from government policies are favoring FDI with various financial incentive schemes and also announced subsidiary to chicory farming in India.
Chicory Roots Market: Drivers
Chicory roots are smooth and creamy feeling, used in the dairy industry where chicory roots are used in the formulation of cheese, ice-cream and yogurts demand is increasing in Asia-Pacific and MEA which can force manufacturers to increase the production capacity. This factor can influence market growth. Increasing application in the pharmaceutical industry can also drive growth over the forecast period. Growth in per-capita middle-class spending capacity can also drive the market during the forecast period.
Chicory Roots Market: Key players
The global chicory root market share is consolidated and also highly competitive with a limited number of companies. Some of the key participating players in Chicory roots globally are Cargill, Incorporated, , SHAANXI SCIPHAR NATURAL PRODUCTS CO., LTD, Jarrow formulas, Delecto Foods Private Limited among others.
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