Increasing Medicinal Usage of the Chicory Plant to Augment the Chicory Products Market Growth
Chicory is a somewhat woody, perennial herbaceous plant that has several medicinal properties such as boost the immune system, prevent bacterial infections, ease digestive problems, detoxify the liver and gallbladder, improves gut health, reduce arthritis pains, reduce anxiety, and prevent heartburn. Moreover, chicory is a well-known substitute for coffee with no caffeine content. Phytochemicals are mostly found in the roots of the chicory plant as well as all parts of the plant, which makes them popular for use in various applications. Chicory root is widely used as a natural source of probiotics and also helps reduce weight.
Due to medical properties, different parts of the chicory plant were used in traditional medicines. The growing realization that the chicory plant is a great source of vitamins, minerals, folic acid, magnesium, and potassium is driving the chicory Products market growth. Furthermore, the increasing medicinal usage of the chicory plant is propelling the growth of the market. The plant has many medical benefits such as anti-allergic, antioxidant, anti-inflammatory, anti-diabetic, antimalarial, gastroprotective, anthelmintic, and antimicrobial. Due to the high presence of probiotics and fiber content, chicory products are used in the food and beverage industry.
Chicory powder has a similar taste as coffee. Moreover, chicory powder is the most widely known chicory product in the market. It helps add a touch of sweetness, enhance various flavors, and reduce the caffeine content. Thus, the market is expected to grow by the rising cost of coffee beans, increasing number of chicory applications, and the increasing consumption of organic foods and beverages. In 2018, the chicory root was incorporated into the Food and Drug Administration’s new food labeling regulations as a dietary fiber. Since then, manufacturers have been using chicory roots in their products to reduce sugar and calories, labeling and promoting them as sources of dietary fiber. Such regulations are playing an important role in increasing the demand for chicory in the food and beverage industry.
In terms of geography, the chicory products market is divided into six regions, such as North America, Europe, Asia Pacific, South America, the Middle East, and Africa. Key players active in the market are adopting various growth opportunities (such as product launch, expansion, etc.) to meet rising demand or to strengthen their market presence. For instance, in 2018, Arla foods launched fiber yoghurt, which contains 12 grams of chicory inulin. Moreover, in March 2020, BENEO announced the investment of more than US$ 60 million to expand the chicory root production facility in Chile by 2022.
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