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Global Chicory Root Fibre Market to Grow at a Healthy Pace During 2021-2026, Aided by the Growing Health Awareness

According to a new report by EMR titled, ‘Global Chicory Root Fibre Market Report and Forecast 2021-2026’, the global market for chicory root fibre to be aided by the growing chicory market, which is expected to grow at a CAGR of 4.5% between 2021 and 2026 to attain USD 278 million by 2026.

There has been a rise in the demand for tasty and nutritious food products owing to the rising health awareness among consumers. Being a popular source of dietary fibre, chicory root fibre is added to a variety of products, including cereals, baked goods, and confectionery products, breakfast bars, and fibre supplements, among others. The increasing prevalence of lifestyle-related health disorders like diabetes and obesity is resulting in increased demand for food products with low sugar and fat content, which, in turn, is driving the demand for chicory root fibre. People with diabetes can benefit from chicory root as it is as sweet as sugar, but it is a zero on the glycemic index. It contains lower calories and helps to replace fat and sugar while enhancing the taste of the food products. Based on nature, the demand for organically sourced chicory root fibre is expected to witness a healthy growth in the forecast period.

Chicory plant is native to North Africa, western Asia, and Europe and has now become widely naturalised in regions like North America, China, and Australia, among others. Beneo GmbH, one of the key players in the industry, sells Orafti® Inulin, which is naturally sourced from chicory root fibre. The manufacturers of chicory root fibre are keen on expanding their distribution channels. Over the forecast period, the easy availability of chicory root fibre based products through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is expected to significantly contribute to the industry growth.

Market Breakup by Nature, Form, Application, Distribution Channel, and Region:

  • Based on nature, the industry can be segmented into organic and conventional. 
  • By form, the industry can be bifurcated into powder and solid. 
  • On the basis of application, the industry is categorised into food and beverages, pharmaceuticals, and dietary supplements, among others. Among these, the food and beverages industry is sub-divided into bakery and confectionery, breakfast cereals, diary and frozen products, and beverages, among others based on type.
  • The various distribution channels of the product include direct sale and indirect sale.
  • Region-wise, the global market for chicory root fibre can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for chicory root fibre is being driven by the rising health consciousness among consumers and growing demand for dietary fibres and prebiotics. 
  • The market is receiving a further impetus with the thriving food and beverages industry. 
  • The escalating disposable incomes, growing pharmaceutical industry, and rising demand for dietary supplements are further propelling the market growth. 
  • The rising vegan population is projected to significantly boost the product demand in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for chicory root fibre for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the nature, forms, applications, distribution channels, and major regions of chicory root fibre.
  • The report also gives the regional historical (2016-2020) and forecast (2021-2026) price trends of the product.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global chicory root fibre market are Cargill Incorporated, Royal Cosun Group, Beneo GmbH, and Xi'an Rainbow Biotech Co.,Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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