Chicory Market Size, Share, Growth Analysis, By Product (Chicory root and chicory leaf), By Application(Food & beverages, dietary supplement, and others ), By Region - Industry Forecast 2024-2031

Chicory Market size was valued at USD 693.56 billion in 2019, and it is expected to reach a value of USD 1056.21 billion by 2031, at a CAGR of 6.45% over the forecast period (2024-2031).

chicory market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Farmvilla Food Industries Pvt Ltd (India)', 'Cargill Incorporated (US)', 'Starwest Botanicals (US)', 'Murlikrishna Foods Pvt Ltd (India)', 'Cosucra Groupe Warcoing (Belgium)', 'BENEO GmbH (Germany)', 'Sensus (Netherlands)', 'Organic Herb Trading Co (UK)', 'Shaanxi Sciphar Natural Product Co Ltd. (China)', 'NP Nutra (US)', 'Jamnagar Chicory Industries (India)', 'Herbs & Crops Overseas (India)', 'Nature’s Gold Production (Netherlands)', 'STOKROS Company Ltd (Russia)', 'Pioneer Chicory (India)'

Chicory is being used for the treatment of various health issues, including liver and gallbladder disorders, cancer, and other acute gastrointestinal issues. Besides these health benefits, it is also a tonic for increasing urine production, guarding the liver, and counteracting the stimulant effect of coffee. This is driving the market growth.

Chicory root fiber is able to help with sugar reduction by including flavour and texture. The leaves and roots of chicory are used for salads and also in the preparation of different innovative and tasty recipes. It is however a nutritional powerhouse with vitamin A, K, C, and other B group vitamins. In addition, it is an excellent source of minerals like manganese, copper, iron, and potassium; which is increasing the trend in terms of consumption.

Europe is dominating the chicory market because of the growing consumption of chicory coffee, rising health concerns, and rising demand for sugar alternatives, which are the major growth drivers in the region over the projected period.