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Global Chicory Market (2020 to 2025) - Growth in Applications of Chicory Across Various Industries Presents Opportunities - ResearchAndMarkets.com

·5-min read

The "Chicory Market by Product Type (Extracts, Roasted, Instant Powder, Flour), Form (Powder, Cubes, Liquid), Plant Part, Application (Food & Beverage, Dietary Supplement, Feed & Pet food, Cosmetics & Personal Care), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The chicory market is projected to grow at a CAGR of 5.7% from 2020 to reach USD 905.3 million by 2025.

Factors such as the rising costs of coffee beans, increasing consumption of organic foods and beverages, and the growing number of applications of chicory are projected to drive the growth of the chicory industry during the forecast period. However, the growth of the chicory market is inhibited by factors, such as health risks associated with heavy consumption of chicory. In addition, higher technical expertise required for producing certain chicory-based products along with limited consumer awareness inhibits the growth of this market.

By type, the instant powder segment is projected to grow at the highest CAGR during the forecast period.

Owing to the functional benefits and availability of instant powder have led to an increase in demand for it. Also, it's largely consumed across B2B as well as B2C segments as well. Moreover, demand for caffeine-free ready-to-drink beverages to boost the demand for instant powder. In its instant form, chicory is ideal for all types of drinks and a wide range of desserts. Its slightly caramelized taste gives them deep flavors with a hint of bitterness. The majority of the players prevailing in the chicory market offer the instant powder type of chicory, and hence, it is expected to grow at a substantial rate, in the coming years.

By form, the powder form is estimated to account for the fastest growth rate.

The powdered form of chicory is the most widely known chicory product in the market. In powder form, roasted chicory can be consumed by itself or easily mixed with coffee, enhancing various flavors, adding a touch of sweetness, and reducing the caffeine content of an array of beverages. Most chicory manufacturing and processing companies across the world mainly produce and market roasted chicory powder. The demand for powder chicory is high because most coffee manufacturing companies mix chicory powder with coffee so as to enhance its taste and aroma. This is also an effective way for coffee manufacturers to protect margins.

By plant-part, the root segment is projected to grow at the highest CAGR during the forecast period.

Chicory roots are also being used widely in pet foods and feed, as chicory is highly digestible for ruminants and has a low fiber concentration. Chicory roots are a substitute for oats for horses due to their protein and fat content. Apart from these applications, the chicory roots are widely demanded by the food & beverage manufacturing companies. All these reasons are causing the demand for chicory roots to rise, and hence, in many countries, the cultivation of chicory roots is witnessing an increase. Thus, the market is projected to witness a positive outlook in the coming years.

By application, the food & beverage segment is expected to record the highest CAGR during the forecast period.

Chicory finds its most important and wide application in the food & beverage industry. Furthermore, chicory is generally considered to be healthy because of its high inulin content, and thereby is demanded by most of the food & beverage companies. The flowers and leaves may be used in salads and flavored vinegar. Apart from that, chicory flour extracted at the very initial stage of processing, is used as filler and flavor enhancer in many bakery products, such as breads, cookies, and cakes. Thus, the food & beverage application of chicory are witnessing an increase, in turn driving the growth.

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period

The market for chicory is still in the nascent stage in the region, particularly in countries, such as India, Japan, and other developing countries, in the region. This is attributed to the countries in the region with a dense population, of which a majority of the population is either unaware of such health benefitting ingredients or have limited spending power for premium organic and all-natural food products.

Market Dynamics

Drivers

  • Rise in Concern Regarding Negative Effects due to High Intake of Caffeine

  • Preference for Chicory as a Cheaper Substitute for Coffee

  • High Medicinal Values and Health Benefits Associated with the Consumption of Chicory

  • Easy Cultivation Process of the Chicory Crop

  • Recent Government Regulations Upholding the Dietary Fiber Status for Chicory Roots

Restraints

  • High Dependency on Mainstream Products Such as Coffee

  • Health Risks Associated with Heavy Consumption of Chicory

Opportunities

  • Rise in Demand for Chicory and Chicory-Based Products Across Several Emerging Markets

  • Growth in Applications of Chicory Across Various Industries

Challenges

  • Higher Technical Expertise Required for Producing Certain Chicory-Based Products

  • Limited Consumer Awareness About Chicory Products

Companies Mentioned

  • Beneo Ghmb

  • Cargill Incorporated

  • Cosucra Groupe Warcoing

  • Delecto Foods Pvt Ltd

  • Farmvilla Food Industries Pvt Ltd

  • Herbs & Crops Overseas

  • Jamnagar Chicory Industries

  • Leroux

  • Murlikrishna Foods Pvt Ltd

  • Narasu's Coffee Company

  • Nature's Gold Production

  • Np Nutra

  • Organic Herb Trading Co

  • Pioneer Chicory

  • Pmv Nutrient Products Pvt Ltd

  • Reily Foods Company

  • Sensus

  • Shaanxi Sciphar Natural Product Co Ltd

  • Starwest Botanicals

  • Stokros Company Ltd

For more information about this report visit https://www.researchandmarkets.com/r/dy7jgs

View source version on businesswire.com: https://www.businesswire.com/news/home/20201203005875/en/

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    Major companies in the plastics product market include Georgia-Pacific Corporation; International Paper Company; Kimberly Clark Corporation; Tetra Laval Group and Svenska Cellulosa Aktiebolaget.New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Paper Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009746/?utm_source=GNW The global paper products market is expected to grow from $837.46 billion in 2020 to $885.66 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1080.64 billion in 2025 at a CAGR of 5%.The plastics product market consists of sales of plastics products by entities (organizations, sole traders and partnerships) that produce plastics products. The companies in this industry produce packaging materials, film and sheet, foam products, plastic bottles and all other plastic products which have domestic and industrial applications. These companies use polymers and resins as raw materials which are primarily sourced from polymer suppliers and processes used in plastic products manufacturing include compression molding, extrusion molding, injection molding, blow molding and casting. The plastics product market is segmented into converted paper products; unfinished paper and pulp mills.Asia Pacific was the largest region in the global paper products market, accounting for 35% of the market in 2020. North America was the second largest region accounting for 26% of the global paper products market. Africa was the smallest region in the global paper products market.The paper industry has been shifting from labor intensive manufacturing processes to automated production facilities. Automation has enabled paper product companies to enhance productivity and reduce production costs. These technologies are also saving energy cost. Control systems such as integrated drive systems (IDS) are improving plant efficiency by minimizing energy consumption and simplifying service and maintenance processes. For instance, Swedish company Stora Enso partnered with Siemens to automate its Skoghall facility. Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the paper products manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the paper products manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy. Faster Economic Growth - The paper products manufacturing market is expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during forecast period.Read the full report: https://www.reportlinker.com/p06009746/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001

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  • Insights on the Recycled Metals Global Market to 2027 - Featuring Aaron Metals, BASF and Century Metal Recycling Among Others

    Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) -- The "Recycled Metals - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. The publisher brings years of research experience to the 5th edition of this report. The 287-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed. Global Recycled Metals Market to Reach $816.8 Billion by 2027Amid the COVID-19 crisis, the global market for Recycled Metals estimated at US$729.3 Billion in the year 2020, is projected to reach a revised size of US$816.8 Billion by 2027, growing at a CAGR of 1.6% over the analysis period 2020-2027. Ferrous Metals, one of the segments analyzed in the report, is projected to record a 1.6% CAGR and reach US$369.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-ferrous Metals segment is readjusted to a revised 1.7% CAGR for the next 7-year period.The U.S. Market is Estimated at $197.6 Billion, While China is Forecast to Grow at 3.3% CAGRThe Recycled Metals market in the U.S. is estimated at US$197.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$155.5 Billion by the year 2027 trailing a CAGR of 3.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2% and 1.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.6% CAGR.Precious Metals Segment to Record 1.1% CAGRIn the global Precious Metals segment, USA, Canada, Japan, China and Europe will drive the 0.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$43.6 Billion in the year 2020 will reach a projected size of US$46 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$108.7 Billion by the year 2027, while Latin America will expand at a 1.7% CAGR through the analysis period. Competitors identified in this market include, among others: Aaron MetalsBASF SECentury Metal Recycling LimitedCommercial Metals CompanyEuropean Metal Recycling Ltd.Globe MetalKuusakoski Group OyNucor CorporationOmniSource CorporationSA Recycling LLCSchnitzer Steel Industries, Inc.Sims Metal Management Ltd.Umicore NV/SA Key Topics Covered: I. INTRODUCTION, METHODOLOGY & REPORT SCOPEII. EXECUTIVE SUMMARY1. MARKET OVERVIEW Global Competitor Market SharesRecycled Metal Competitor Market Share Scenario Worldwide (in %): 2019 & 2025Impact of Covid-19 and a Looming Global Recession 2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSISIV. COMPETITION Total Companies Profiled: 41 For more information about this report visit https://www.researchandmarkets.com/r/e6iuam Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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