Industry Background:
Chicory extracts are mainly extracted from roasted chicory root, which is mainly in the form of powder and is produced by the chicory plant, which is a member of the dandelion family. These extracts are used as a substitute for coffee, a food additive, and also in the extraction of inulin. The extraction process is completed by drying the root of the chicory under the sun or hot air oven. These ground roots are then mixed with an accurate amount of water and the unsolvable materials are separated through filtration as well as centrifugal action. Chicory Extract is used for various purposes such as stiff joints, rheumatism, upset stomach, gout, blood purifying, etc. Awareness regarding healthy products prepared by chicory plants is driving the market for chicory extract.This growth is primarily driven by Increasing Disposable Income and Rising Preference for Eating Healthy
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Fuji Nihon Seito Corporation (Japan), Gansu Likang Nutritional Foods Co., Ltd. (China), COSUCRA (Belgium), BENEO (Germany), Anwel Life Sciences Private Limited (India), Pioneer Chicory (Japan), Sensus (United States), BaiYin XiRui Biological Engineering (China), Qinghai Faninon (China) and The Tierra Group (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2021, Cosucra Groupe Warcoing S.A., a Belgian group, launched its chicory root ingredients under the names Swelite, Fibruline, Pisane, and Nastar- the key pea component brands offered by the firm.Manufacturers focus on developing unique and high-quality chicory extract products that offer distinct advantages over competitors. The companies are also exploring the market by adopting mergers & acquisitions, expansions, investments, new product launches, and collaborations as their preferred strategies. The players explore new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Adoption of Chicory inulin Extract and Prebiotics Substance
Market Growth Drivers:
Increasing Disposable Income and Rising Preference for Eating Healthy, Increasing Food Court and Specialty Stores in Malls which Contain Chicory Extract Products and Increased Dietary Fiber Intake, and Maintain a Healthy Weight
Challenges:
Issues Related to the Side Effects of Chicory Plants
Restraints:
Lack of Awareness Among Consumers and Rare Availability of Chicory Plants in Developing Nations and Exposure to Chicory Root in Processing may Cause Skin Irritation
Opportunities:
Rise in Consumption of Chicory products in Countries such as China and India
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Chicory Extract Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Chicory Extract Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Chicory Extract players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Chicory Extract Study Sheds Light on
The Chicory Extract Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Chicory Extract industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Chicory Extract industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.