Chicory Extract Market: Upcoming Demand, Growth Analysis & Forecast 2031

Chicory Extract Market: Overview

Chicory is an herbaceous plant with vibrant blue-colored flowers, or pink or white flowers. Chicory plant is grown as a forage crop feed livestock in Europe. Presently, the plant is commonly grown in North America, Australia and China as well. Most of the parts of the chicory plant are useful. For instance, the leaves are cultivated for salad, roots as coffee substitute and food additive. Most recently, inulin, an extract from the chicory plant, commonly called as chicory extract has gained popularity in the food market as a source of healthy dietary fiber and as a natural sweetener with a sweetening power of 10% that of sucrose.

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Chemically, chicory extract is just a polysaccharide similar to starch, which increases chicory extract’s utility as a starch alternative. The growing use of chicory extract as a sweetener is expected to drive the growth of the chicory extract market.

Chicory Extract Market: Dynamics

Chicory extract is obtained from the roasted chicory root. Chicory extract contains inulin-type fructans, which are beneficial for the improvement of bowel movements. The lifestyle patterns and habits followed by the population currently has led to a widespread occurrence of lifestyle-related health disorders and diseases, which include obesity, diabetes and hypertension. Incorporation of functional foods such as chicory extract in on a daily basis is believed to be protective against such diseases. Studies have revealed that chicory extract may help counteract metabolic syndrome in people with bowel-related issues.

These benefits of the chicory extract are increasing their adoption among consumers with health problems and among those who simply want to incorporate chicory extract in daily routine diet. Functional health benefits of chicory extract, in addition to their incorporation in a plethora of health supplements, has aided their rise to prominence. All these factors are expected to drive the growth of the chicory extract market over the forecast period.

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Chicory Extract Market: Segmentation

The global chicory extract market is segmented on the basis of nature, form, application, distribution channel and region.

On the basis of nature, the global chicory extract market is segmented into:

• Organic
• Conventional

On the basis of form, the global chicory extract market is segmented into:

• Powdered
• Liquid extract

On the basis of application, the chicory extract market is segmented into:

• Food and beverage
  • Bakery
  • Confectionery
  • Bars
  • Savory products
  • Powder blends
• Pharmaceutical

On the basis of distribution channel, the global chicory extract market is segmented into:

• Supermarket
• Specialty store
• Grocery
• Online retails
• Others

Chicory Extract Market: Prominent Players

Examples of some key players identified in the chicory extract market are Fuji Nihon Seito Corporation, Gansu Likang Nutritional Foods Co., Ltd., COSUCRA, BENEO, Anwel Life Sciences Private Limited, Pioneer Chicory, Chicory India, Jamnagar Chicory Industries, among others.

Chicory Extract Market: Regional Overview

Geographically, the global chicory extract market is segmented into North America, Latin America, Europe, Japan, Asia-Pacific excluding Japan, Middle East and Africa. The chicory extract market dynamics are different for various regions. The chicory plant is mostly cultivated in India. Hence, export and supply of the chicory extract mostly takes place in India. Other countries that cultivate chicory and produce chicory extract are Belgium, Baluchistan, Europe, Germany, Persia, Switzerland as well as including some parts of the U.K.

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Chicory Extract Market: Competitive Analysis

Chicory extract is also referred to as inulin by some manufacturers as it has become a mainstream product. It is predicted that the chicory extract market will grow in the coming years attributable to chicory extract’s enhanced fiber content and evolving applications. Companies such as Kraft and Catelli are reported to have incorporated a significant quantity of inulin or chicory extract to their consumer health-focused brands.

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