Chicory Ingredients Market Share Trends With Investment Regional Demand By 2022-2030
Chicory
Ingredients Market Outlook
Chicory
ingredients are garnering tremendous prominence and popularity mainly due to
their medicinal properties such as antioxidant and anti-inflammatory. Also,
anticancer, analgesic, antidiabetic, and antimicrobial chicory ingredients are
known to improve heart health. Hence chicory ingredients are used in the making
of various food & beverages products and pharmaceutical & dietary
supplements. Chicory plants are also cultivated as forage plants for animal
feed. The Confectionery Ingredients Market Size was valued at USD 80.9 billion
in 2022. The confectionery ingredients market industry is projected to grow
from USD 86.32 Billion in 2023 to USD 127.37 billion by 2030, exhibiting a
compound annual growth rate (CAGR) of 6.7% during the forecast period (2023 -
2030). The key market drivers boosting the confectionery ingredients market
share growth are the rising demand for convenience foods, urbanization, and
consumer propensity for indulgence goods.
The
chicory ingredients market is growing continually, witnessing a massive
consumption. The huge uptake of chicory ingredients in pharmaceutical and
F&B industries is a major driving force behind its market growth. Moreover,
rising health-conscious populaces and the development of distribution channels
play a vital role in the development of this market. As a result, the chicory ingredients market
perceives constant growth on the global level. Additionally, factors such as
attractive packaging forms, and spreading awareness of the benefits of chicory
ingredients are substantiating the market growth. To enhance the customer
experience and align them with the branding, most players strategize their
packaging solutions meticulously, offering exclusive product innovation.
Moreover, growing industrialization and urbanization along with the improving
economic conditions worldwide commutatively act as a tailwind that pushes up
the market growth.
𝗧𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗶𝘀 𝗣𝗿𝗶𝗰𝗲𝗱 𝗮𝘁 𝗖𝗹𝗶𝗰𝗸 𝗛𝗲𝗿𝗲 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗦𝗮𝗺𝗽𝗹𝗲 : https://www.marketresearchfuture.com/sample_request/4564
Major
Players:
Players
leading the global Chicory ingredients Market Report, include BENEO-Palatinit
GmbH (Germany), Cosucra Groupe Warcoing SA (Belgium), Coöperatie Koninklijke
Cosun U.A. (Netherlands), Baiyin Xirui Biological Engineering Co., Ltd.
(China), Gansu Likang Nutritional Foods Co, LTD (China), The Tierra Group (US),
The Qinghai Weide Biotechnology Co., Ltd. (China), Fuji Nihon Seito Corporation
(Japan), Novagreen Inc. (Canada), and PMV Nutrient Products Pvt. Ltd. (India),
among others.
Market
Segments Analysis
The
report is segmented into five market dynamics to widen the scope of
understanding,
By
Type:
Leaves, Root, Flowers, and Seeds
By
Category:
Organic and Conventional.
By
Application:
Food & Beverages, Bakery & Confectioneries, Dairy & Frozen
Desserts, Pharmaceuticals, and Dietary Supplements, among others.
By
Distribution Channel:
Store-Based and Non-Store-Based
By
Regions:
Asia Pacific, North America, Europe, and the Rest of the World.
Regional
Analysis
The
Asia Pacific region dominates the chicory
ingredients market with the largest market share. The region is further
expected to retain its dominance throughout the forecast period. Increasing usage of chicory ingredients in
cooking, pharmaceuticals, and dietary supplements by consumers is a key driving
force behind the regional market growth.
Sri
Lanka, China, Indonesia, Japan, and India are significant chicory producers and
hence, possess a larger market share in the regional market. Besides, the presence of major players and a
large consumer base led by the improving economic conditions that are improving
access to the quality of life is boosting the market in the region.
North
America accounts for another lucrative market for chicory ingredients. The
growing market in the US, heading with the quality lifestyle and the presence
of large innovative players drives the regional market, majorly. Growing uses
of protein ingredients in the rapidly increasing food & beverages industry
would allow the region to register a significant CAGR over the assessment
period. Moreover, a higher inclination for using chicory in various products,
due to the presence of prebiotic fiber known as inulin drives the growth of the
regional market.
The
European chicory ingredients market is a rapidly growing market. Growing
consumption of chicory ingredients in various beverages and increasing health
eccentric populaces drive the regional market growth. Furthermore, the
increasing per capita income and influence of the media industry provide
impetus to market growth in the region.
Competitive
Analysis
Highly
competitive, the chicory ingredients market appears to be fragmented owing to
the presence of several well-established players. High potential growth
demonstrated by the market is expected to attract several new entrants during
the anticipated period, which will resultantly intensify the competition
further.
Read
More: https://www.marketresearchfuture.com/reports/confectionery-ingredients-market-4564.
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