We are monitoring the impact of COVID-19 on North America Chicory Market Get in touch with us for detailed analysis Know More
Pulished Date July, 2021
ID: 11814
Share on
Share on

North America Chicory Market segmented by Product Type (Roasted, Extracts, Instant Powder and Flour), by Form (Cubes, Powder and Liquid), by Application (Dietary Supplement, Feed & Pet Food, Food & Beverage and Cosmetics & Personal Care), by Region- Global Forecast Period 2021-2026

Pulished: July, 2021
ID: 11814
Pages: 144

North America Chicory Market Growth and Forecast (2021-2026):

North America Chicory Market is worth US $ xx million in 2021, and it is estimated that it will reach a valuation of US $ xx million by the end of 2026 with an annual compound rate of xx% between 2021 and 2026.

Product Description:

Chicory is a member of dandelion family that is a perennial herbaceous plant. This is mainly used in salads. In place of coffee, roasted chicory roots can be used as an adjective. This product has many health benefits where as it is used in the medicines by Egyptians. Some research studies shows that the chicory have benefits in preventing heart burn, bacterial infections, strengthening the immune system, detoxifying the liver and others. Chicory roots have beneficiaries in weight loss as it acts as a natural source of probiotics.

North America Chicory Market Growth:

Free trade agreements is promoting the growth rate of the chicory market in North America. E-commerce is also playing lead position is expanding the demand of the North America chicory market.

Recent Developments:

  • In 2018, Univar Inc., Gillco Ingredients, International Food Products Corporation, Batory Foods, Pearson Sales Company, and St. Charles Trading, Inc are six companies chosen by Cargill’s food ingredients and applications business. This will help the company to increase the customer experience. It is also expected that the company would generate substantial growth through a select group of committed channel partners.

Drivers:

Increasing awareness over the availability organic food ingredients is major factor driving the demand of the North America chicory market. Rising incidences of the chronic illness and trend towards health lifestyle changes are likely to fuel the demand of the market to the extent. Growing expenditure along with the increasing disposable income are promoting the growth rate of the chicory market. Also, prevalence for the healthy drinks or bars which are made up of natural ingredients are bolstering the demand of the market tremendously. Also, free trade agreements is substantially to level up the growth rate of the North America chicory market. Implementing different strategies to specialize the chicory based products in malls and specialty stores is leveraging the growth rate of the market. Increasing awareness among consumers over the chicory based ingredients such as prebiotics and others is outraging the demand of the market in North America.

Restraints:

However, lack of complete knowledge over the use of the chicory ingredients in various forms is slowly hindering the demand of the market. Along with this, fluctuations in the availability of the raw materials and increasing cost of the raw materials due to less productivity are restraining the growth rate of the North America chicory market. In addition, there are lot of health benefits of chicory roots where the extracted products have various benefits. The extraction of different products from the chicory roots should be done one after the other under the guidance of the expertise. Lack of experienced people and difficulty in extracting the products are hindering the growth rate of the North America chicory market.

Impact of COVID 19 on the North America Chicory Market:

COVID 19 is a deadly disease that distracted many lives in unprecedented ways. Amid the COVID 19 pandemic, the demand for ready to mix beverages is increasing substantially from the recent years. Coffee, juices, and flavored mix drinks demand is quietly rising during the pandemic. Government imposed lockdown restrictions in respective countries to curb the spread of COVID 19. This led to work-from-home culture that boosted the demand for the beverages. During COVID 19, the demand for the chicory based products surged as there is an increasing awareness to maintain healthy diet. Chicory is caffeine free substitute for coffee that is highly increasing the demand of the market in North America. With the spread of health benefits of chicory roots, consumers are inclining towards these products that is expanding the growth rate of the market especially during the pandemic.

Market Segmentation:

By Product Type, the North America chicory market is segmented into Roasted, Extracts, Instant Powder and Flour. Roasted segment is leading with the highest shares of the market by owing to increasing prevalence for the ready to mix drinks. Following roasted segment, instant powder segment is leading with the largest shares of the market in North America.

Based on the application, the North America chicory market is classified into Dietary Supplement, Feed & Pet Food, Food & Beverage and Cosmetics & Personal Care. Dietary supplement segment is leading with the highest shares of the market with the rising awareness over the availability of various diet supplements. Feed & pet food segment is augmented to have the significant growth opportunities in the coming years.

Regional Analysis:

North America is leading with the highest shares of the market by owing to adoption of healthy diet and growing awareness over the benefits of chicory based products. Also, rising prevalence to adopt dietary supplements due to COVID 19 pandemic is evaluating the shares of the chicory market in North America. In addition, untapped potential and increasing investments from both private and government organizations are some other factors for the North America chicory market growth. US chicory market is having the largest shares from the past few years. Increasing production rate and growing demand for the caffeine free beverages are promoting the demand of the market in US. Presence of key players in this country and high investments on the development of organic based products to improve the quality of the food and beverages is substantially propelling the demand of the US chicory market. Rise in the number of companies labelling the caffeine free ingredients and creating awareness among consumers are enlarging the demand of the market in this country. Consumer preference towards the chicory roots and increasing awareness over the usage of chicory roots in various industries are attributed to evaluate the demand of the market. Chicory roots reduces the sugar and adds flavor and texture. It also contains inulin fiber that helps to promote the beneficial bacteria in the gut. This is used in the dietary supplements. These benefits are anticipated to promote the demand of the US chicory market.

Canada chicory market is next to US chicory market in dominating the shares with the rise in the awareness over the benefits of chicory root. Increasing number of people with chronic illness and their preference for the chicory root based products is expected to promote the demand of the market in this country.

Key Players:

  • Cosucra Groupe Warcoing
  • Delecto Foods Pvt Ltd
  • BENEO GmbH
  • Sensus
  • Leroux
  • Cargill Incorporated
  • Reily Foods Company
  • Pioneer Chicory 
  • PMV Nutrient Products Pvt Ltd
  • Farmvilla Food Industries Pvt Ltd
  • Murlikrishna Foods Pvt Ltd 
  • Starwest Botanicals
  • STOKROS Company Ltd 
  • Nature’s Gold Production 
  • Organic Herb Trading Co
  • Narasu’s Coffee Company
  • NP Nutra
  • Shaanxi Sciphar Natural Product Co Ltd.
  • Jamnagar Chicory Industries 
  • Herbs & Crops Overseas 

 

NA

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The Segment-level analysis in terms of By Product Type, Form, Application and along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

 

 

NA

Please wait. . . . Your request is being processed

Related Reports

LICENCE TYPE

$ 1234 3335

Clients
clients
clients
clients
clients
clients
clients
Click for Request Sample