A recent market research report by Transparency Market Research presents a thorough analytical assessment of the global market for chicory. The report, titled “Chicory Market – Global Industry Analysis, Size, Growth, Trends, and Forecast 2017 – 2025,” sheds light on valuable aspects of the market associated with its present and future growth prospects.
It has been noted over the years that the popularity of chicory root as a substitute to coffee has significantly increased. This factor, combined with its usage in salads, is expected to drive the market in the future years. The market is also expected to further gain from the rising awareness regarding its health benefits such as detoxification of the gallbladder and liver, prevention of bacterial infections and heartburn, and reduction in the risk of heart conditions. The root of chicory is also known to have weight reduction benefits.
The market has also massively benefitted in the past few years from free trade agreements and globalization. Free trade among a number of countries has helped strengthen the supply chains, leading to a massive rise in trade activities among a number of countries. This has massively favored the chicory manufacturing sector as manufacturers have gained direct access to foreign markets. The factor is expected to continue to work favorably for the market over the report’s forecast period as well. Moreover, the development of modern retail outlets that feature open access to shelves for consumers to choose from has also helped bring products such as chicory to the forefront, helping the market easily reach out to potential new consumers.
From a geographical standpoint, the market for chicory has been covered in the report for regions such as Europe, North America, Latin America, Middle East and Africa, and Asia Pacific. Presently, the market in Europe accounts for the dominant share in the overall market as the region is the world’s largest producer as well as consumer of chicory and associated products. Over the forecast period, the market in North America is expected to pick pace lead to promising growth avenues. However, the Asia Pacific market is expected to emerge as the regional market expanding at the fastest CAGR over the forecast owing to the increased awareness of chicory and rising numbers of supermarkets and hypermarkets in emerging economies in the region.
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An expansive account of the competitive scenario of the global chicory market has also been included in the report, wherein details such as business profiles, recent technological advancements, details regarding business strategies, and product portfolio pertaining to some of the leading vendors in the market have been included. Some of the leading companies in the market are Prewett’s Health Foods, Leroux, Narasus Coffee Company, Starwest Botanicals Inc, Chicobel Pvt Ltd, and Pioneer Chicory.