Chicory is a perennial herbaceous plant, native to Europe but also found in Australia, North America, and China. Dried parts of chicory plants are used for medicinal purposes. Chicory leaves can be eaten raw or boiled with water. It is a natural sedative with inflammation properties. It also contains insulin that is considered good for kidneys. Chicory is used as cooking spice to add flavor and taste to foods and beverages, it is most commonly used for flavoring coffee.
However, skin rashes caused by consumption of chicory and its harmful effects on pregnant women are factors expected to hamper growth of the chicory products market in the near future.
The global chicory products market report has been segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into instant chicory, chicory flour, roasted chicory, and chicory extracts. On the basis of application, the market is segmented into dietary supplements, healthcare industry, and food and beverages industry. Food and beverages segments dominates the current global market, owing to its use as an additive in coffee, ice-creams, salad dressing, chocolate bars, etc. Health care industry is expected witness growth in the near future, owing to increasing preference for natural medicine therapy and use of chicory as dietary supplement.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is expected to dominate the global market in terms of revenue over the forecast period, owing to presence of key manufacturers and increasing consumption of chicory based products in countries in this region. The market in North America is expected to account for second-highest share in terms of revenue, owing to increasing adoption of probiotic products in the region.
Key players operating in the global chicory products market include BENEO-Palatinit GmbH, Cosucra Groupe Warcoing SA, Coöperatie Koninklijke Cosun U.A., Baiyin XIRUI Bioengneering Company, Gansu Likang Nutritional Foods Co. Ltd, Tierra Group, LLC, Qinghai Weide Biotechnology Co., Ltd, Fuji Nihon Seito Corporation, Sensus, LLC, and PMV Nutrient Product Pvt. Ltd.