Global Chicory Root Fibre Market Opportunities and Forecast for period from 2024 to 2031
The "Chicory Root Fibre Market" has experienced impressive growth in recent years, expanding its market presence and product offerings. Its focus on research and development contributes to its success in the market.
Chicory Root Fibre Market Overview and Report Coverage
Chicory root fibre is a dietary fibre extracted from the roots of the chicory plant. It is known for its numerous health benefits, including improved digestion, weight management, and blood sugar control. Chicory root fibre is commonly used as a natural sweetener and a prebiotic in various food and beverage products.
The Chicory Root Fibre Market is expected to grow at a CAGR of % during the forecasted period(2024 - 2031). The market is witnessing significant growth due to the increasing consumer awareness about the health benefits of chicory root fibre and the growing demand for clean-label and natural ingredients in food and beverage products. The adoption of chicory root fibre in various applications such as bakery, dairy, and dietary supplements is driving market growth.
The market forecast for chicory root fibre indicates a positive outlook with a continued focus on health and wellness trends among consumers. The latest market trends include the development of innovative product formulations incorporating chicory root fibre, strategic collaborations between key players in the industry, and the expansion of product portfolios to cater to changing consumer preferences. Overall, the chicory root fibre market is poised for steady growth in the coming years.
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Market Segmentation
The Chicory Root Fibre Market Analysis by Types is segmented into:
Pharmaceutical Grade
Food Grade
Other
Chicory root fibre is classified into three main types: Pharmaceutical Grade, Food Grade, and Other Markets.
Pharmaceutical Grade chicory root fibre is used in the production of medicines and supplements due to its high purity and quality standards.
Food Grade chicory root fibre, on the other hand, is used in a wide range of food products such as bakery items, beverages, and dairy products for its prebiotic and nutritional benefits.
Other Markets refer to applications such as animal feed, cosmetics, and personal care products.
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The Chicory Root Fibre Market Industry Research by Application is segmented into:
Beverage Industry
Food Industry
Health Care Products and Medicines
Other
Chicory root fibre is widely used in the beverage industry as a natural sweetener and functional ingredient in teas, coffees, and smoothies. In the food industry, it is used to improve texture and nutritional profile in products like yogurt, baked goods, and snack bars. In health care products and medicines, chicory root fibre is utilized for its prebiotic properties to support digestive health. It also finds applications in various other markets such as pet food, cosmetics, and dietary supplements.
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In terms of Region, the Chicory Root Fibre Market available by Region are:
North America:
United States
Canada
Europe:
Germany
France
U.K.
Italy
Russia
Asia-Pacific:
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America:
Mexico
Brazil
Argentina Korea
Colombia
Middle East & Africa:
Turkey
Saudi
Arabia
UAE
Korea
The Chicory Root Fibre market in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa is experiencing significant growth due to the increasing demand for natural and healthy ingredients in food and beverage products. In North America, the market is driven by the growing consumer awareness about health benefits associated with chicory root fibre and the presence of key players like Beneo and Xylem. In Europe, players like Cosucra and Leroux are driving market growth with their innovative products and expansion strategies. In Asia-Pacific, the market is witnessing rapid growth due to the rising health consciousness among consumers in countries like China and Japan. Key players like Violf and PMV Nutrient Products are capitalizing on this trend. In Latin America, players like FARMVILLA are expanding their market presence, while in Middle East & Africa, companies like Saudi Arabia and UAE are leading the market growth with their extensive distribution networks and product offerings.
Chicory Root Fibre Market Emerging Trends
Some of the emerging and current trends in the global chicory root fibre market include an increasing demand for natural and clean label ingredients, as well as a growing awareness of the health benefits associated with chicory root fibre. Manufacturers are also innovating and introducing new products containing chicory root fibre, such as functional beverages and snacks. Additionally, the rise in digestive health concerns and the growing interest in plant-based diets are driving the market growth for chicory root fibre products. Sustainability and eco-friendly practices in sourcing and production are also becoming important factors for consumers in the chicory root fibre market.
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Major Market Players
Beneo
Cosucra
Xylem
Leroux
Violf
PMV Nutrient Products
FARMVILLA
Chicory Root Fibre Market players such as Beneo, Cosucra, Xylem, Leroux, Violf, PMV Nutrient Products, and FARMVILLA are key players in the global market. Beneo, a subsidiary of the Sudzucker Group, is a market leader in the chicory root fibre industry, offering a wide range of high-quality products. The company has experienced significant growth in recent years due to the increasing demand for natural dietary fibers in food and beverage products.
Cosucra, a Belgian company, is another major player in the chicory root fibre market. The company has a strong presence in Europe and North America and offers a range of chicory root fibre products for various applications. Cosucra has been investing in research and development to create innovative products to cater to the changing consumer demands.
Xylem, Leroux, Violf, PMV Nutrient Products, and FARMVILLA are other key players in the market, each contributing to the growth and development of the chicory root fibre industry. These companies offer a range of chicory root fibre products tailored to meet the needs of different industries.
As per market reports, the global chicory root fibre market is expected to witness significant growth in the coming years due to the increasing consumer demand for natural and healthy food ingredients. According to a recent market research report, the global chicory root fibre market was valued at over $500 million in 2020 and is projected to reach over $1 billion by 2026.
In terms of sales revenue, Beneo reported approximately $700 million in sales in 2020, making it one of the top players in the market. Cosucra also reported strong sales revenue in the past few years, reflecting the company's strong position in the chicory root fibre market. Other players such as Xylem, Leroux, Violf, PMV Nutrient Products, and FARMVILLA are also expected to see growth in sales revenue in the coming years.
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