Lucintel's latest market report analyzed that chicory provides attractive opportunities in food and beverage, dietary supplement, feed & pet food, and cosmetics & personal care markets. The chicory market is expected to reach $XX billion by 2028 with a CAGR of 4% to 6%. In this market, Instant Powder is the largest segment by product type, whereas food and beverage is expected to remain the largest segment in component sector.
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Based on product type, the chicory market is segmented into extracts, roasted, instant powder, and flour. The Instant Powder segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to wide availability and acceptability of the instant powder worldwide.
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The Chicory Market is marked by the presence of several big and small players. Some of the prominent players offering chicory include Cosucra, Delecto Foods, BENEO GmbH, Sensus, Leroux, Cargill Incorporated, Reily Foods Company, Pioneer Chicory, PMV Nutrient Products, Farmvilla Food Industries, Murlikrishna Foods, Starwest Botanicals.
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