The new report by Expert Market Research titled, ‘Global Chicory Root Fibre Market Size Report and Forecast 2023-2028’, gives an in-depth analysis of the global chicory root fibre market, assessing the market based on its segments like nature, forms, applications, distribution channels, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2023-2028)
- Forecast CAGR (2023-2028 ): 4.5%
- Forecast Market Size (2026): USD 278 million
The rising demand for fibre-rich food due to increasing health consciousness and the prevalence of digestive disorders are the key drivers of the global chicory root fibre market. The growing awareness for benefits of dietary fibre and prebiotics in digestive health is positively pushing the industry further.
Additionally, the growing demand for vegan labelled food is also aiding the growth of the market. Other factors, such as growing incidents of diabetes and obesity, increasing disposable incomes, and expanding distribution networks, are contributing factors towards the industry growth.
Industry Definition and Major Segments
Chicory root fibre is a soluble dietary fibre, extracted from chicory root. It is prebiotic, high in insulin, and has numerous digestive health benefits. It stimulates the absorption of calcium, thus, improves bone heath. It also helps in body weight management by replacing fats and sugar and, thus, is an important ingredient for various industries.
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By nature, the market is divided into:
- Organic
- Conventional
Based on form, the industry is segmented into:
- Powder
- Solid
By application, the market is divided into:
- Food and Beverages
- Bakery and Confectionery
- Breakfast Cereals
- Dairy and Frozen Products
- Beverages
- Others
- Pharmaceuticals
- Dietary Supplements
- Others
By distribution channel, the industry is segmented into:
- Direct Sale
- Indirect Sale
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
Regionally, North America and Europe are important players in the global chicory root fibre market. This is attributed to the shift towards a healthier lifestyle and subsequently growing demand for prebiotics and dietary fibre.
The demand for functional food and the growing trend of plant-based ingredients due to the rising health awareness is resulting in the increasing demand for chicory root fibre. Moreover, the booming pharmaceutical industry is also expected to provide growth opportunities for this industry.
Key Market Players
The major players in the market are Cargill Incorporated, Royal Cosun Group, Beneo GmbH, Xi’an Rainbow Biotech Co.,Ltd, and others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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