Chicory Extract Market

According to a new report published by Introspective Market Research, titled, “Chicory Extract Market by Application and Packaging Type: Global Opportunity Analysis and Industry Forecast, 2024–2032,” 

the global Chicory Extract Market size was valued at $ 808.94 million in 2023, and is projected to reach $ 1348.23 million by 2032, registering a CAGR of 5.84% from 2024 to 2032.

Chicory extractcomes from the roots of the chicory plant, scientifically known as Cichorium intybus. It is widely used in food and beverages for its various health benefits and delicious properties. Chicory extract is rich in inulin, a type of soluble fiber, and is often used as a natural sweetener or flavor in coffee substitutes, baked goods, and dietary supplements. Chicory extract plays a key role in several industries due to its versatile applications. Extracted from the roots of the chicory plant, it works as a natural food supplement, flavoring agent, and dietary supplement. In the food and beverage industry, chicory extract is often used as a coffee substitute or additive to impart a rich roasted flavor to beverages. In addition, it is used as a natural sweetener in products such as baked goods, dairy products, and sweets. Its ability to improve flavor profiles while providing health benefits makes it a popular choice for producers looking for natural alternatives to synthetic additives.

According to the Chicory Extract Market is segmented into Grade, Form, Source, Application, and Region. By Grade, the market is categorized into Inulin, Fructooligosaccharides (FOS), and Chicoric Acid. By Form, the market is categorized into Powder, Liquid, and Granulated. By Source, the market is categorized into Roots and Leaves. By Application, the market is categorized into Nutraceuticals & Pharmaceuticals, Food & Beverages, Cosmetics, and Animal Feed. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

Demand for low-sugar foods and caffeine substitutes has grown significantly in recent years, particularly in the chicory extract market. The reason for this development is mainly the increased awareness of consumers about the negative health effects of excessive consumption of sugar and caffeine. As people become healthier, they are actively looking for ways to enjoy their favorite foods and beverages without compromising taste or experience. Chicory extract has emerged as a promising solution that provides a natural sweetener and coffee substitute that meets the needs of health-conscious consumers. Chicory extract is a versatile ingredient that can be used to sweeten a variety of foods and beverages, from baked goods to hot drinks, offering a caffeine-free option for those looking to cut back on their intake. Chicory extract suppliers form strategic partnerships and collaborations with food and beverage companies to expand distribution channels and increase market share. As the demand for healthier options grows, the market for chicory extract is poised to expand and diversify, offering exciting opportunities for industry players to capitalize on this emerging trend.

The growing popularity of natural and herbal ingredients and recognition of the many functional and nutritional benefits of chicory extract. Consumers are increasingly aware of the ingredients they use and are looking for options that offer both health benefits and culinary versatility. Chicory extract has emerged as a distinctive ingredient valued for its ability to improve the taste, texture, and nutritional value of various foods and beverages. Chicory extract is naturally high in fiber, inulin, and antioxidants, making it an excellent addition to many different diets, including weight loss, digestive health, and blood sugar control. In addition, chicory extract is low in calories and free of cholesterol and saturated fat, making it attractive to health-conscious consumers who are increasingly looking for clean, nutrient-dense ingredients in their diet. Chicory extract can be used as a natural sweetener, flavor enhancer, texturizer, and even as a decaffeinated coffee substitute, giving manufacturers a wide range of options across multiple product categories.

Global Chicory Extract Market, Segmentation

The Chicory Extract Market is segmented based on Grade, Form, Source, Application, and region.

Source:

The Source segment is further classified into roots and leaves. Among these, the Root sub-segment accounted for the highest market share in 2023. The root segment dominates the chicory extract market as chicory roots are the main source of inulin, a prebiotic fiber that offers various health benefits such as better digestion, gut health, and blood sugar control. As consumers become more health-conscious and look for functional ingredients with proven nutritional value, the demand for chicory root extract is increasing. Chicory roots contain many bioactive compounds such as polyphenols and antioxidants, which contribute to their health-promoting properties. This makes chicory root extract a versatile ingredient that can be used in a variety of foods and beverages, such as dairy products, baked goods, drinks, and nutritional supplements. The growing popularity of natural and herbal ingredients is increasing the demand for chicory root extract as a clean alternative to synthetic additives and sweeteners.

Grade:

The Grade segment is further classified into Inulin, Fructooligosaccharides (FOS), and Chicoric Acid. Among these, the personal care sub-segment is anticipated to show the fastest growth by 2032. Inulin, a soluble fiber found in chicory root, has attracted a lot of interest for its prebiotic properties that help promote digestion and gut health. Demand for inulin-rich products is expected to continue to grow as consumers become aware of the importance of gut health and its impact on overall well-being. Indigestion and gastrointestinal problems are becoming more and more common worldwide. Inulin's ability to promote the growth of beneficial gut bacteria, improve bowel regularity, and increase nutrient absorption makes it a popular ingredient in functional foods, nutritional supplements, and digestive products.

Region:

The Chicory Extract Market in Europe is projected to show the fastest growth by 2032. Europe's dominant position in the licorice extract market is expected to continue thanks to the region's rich history and traditions of licorice cultivation and consumption. Countries such as France, Belgium, and the Netherlands have long been known for producing high-quality root chicory, both for culinary purposes and as a source of inulin, the main component of chicory extract. This well-established industrial infrastructure coupled with the growing popularity of natural and herbal ingredients places Europe at the forefront of the global chicory extract market. Belgium is known for its root chicory production thanks to the country's mild climate and fertile soil, making it ideal for growing this versatile crop. Belgian companies have invested heavily in research and development to realize the full potential of chicory extract, exploring new applications and formulations to meet the changing needs and preferences of consumers.

Some of The Leading/Active Market Players Are-

• Starwest Botanicals (US)
• NP Nutra (US)
• Cargill Incorporated (US)
• Reily Foods Company (US)
• STOKROS Company Ltd (Russia)
• Cosucra Groupe Warcoing (Belgium)
• BENEO GmbH (Germany)
• Sensus (Netherlands)
• Nature’s Gold Production (Netherlands)
• Leroux (France) and Other Active Players

Key Industry Developments

• In October 2023, Sensus, a notable player in the chicory extract industry, joined forces with Chr. Hansen is a prominent producer of enzymes and microbial cultures. This partnership is geared towards the development of cutting-edge prebiotic solutions designed for use in dietary supplements and functional food applications.
• In November 2023, Associated British Foods (ABF) successfully acquired Beneo, a leading producer of chicory extract. This strategic acquisition bolsters ABF's position in the sugar alternatives market, expanding its product offerings in chicory-derived ingredients such as inulin and oligofructose.

Key Findings of the Study 

• The global Chicory Extract Market is expected to grow from $808.94 million in 2023 to $1348.23 million by 2032, with a CAGR of 5.84% from 2024 to 2032.
• Chicory extract, rich in inulin, is used as a natural sweetener and prebiotic in food and beverages, promoting digestion and gut health.
• The root segment dominates the market due to chicory roots being the primary source of inulin and other health-promoting bioactive compounds.
• Europe is projected to show the fastest growth by 2032, driven by its strong tradition of chicory cultivation, technological advancements, and consumer preference for natural ingredients.