The chicory products market is expected to grow tremendously over the forecast period of 2018 to 2028 due to popularity as apt replacement for products with caffeine content. High demand for chicory flour in food and beverages industry has also contributed to the market’s expansion. Moreover, chicory has numerous health benefits such as supporting the digestive reactions and acting as an antioxidant. It is becoming increasingly popular among the masses as a prebiotic. These factors have been highly instrumental in the chicory products market’s expansion.
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Easy Availability of Chicory Products to Boost Growth
Free trade has played a key role in supporting the chicory market’s growth as it has encouraged trade activities between different countries. Manufacturers are increasingly proliferating numerous regional markets in order to gain revenue benefits. The emergence of retail sector has also benefitted the manufacturers as the consumers have an easy access to chicory products.
Furthermore, soaring demand for healthy drinks all over the globe has also promoted the chicory market’s growth. Additionally, the food and beverages industry is focusing on increasing the functional and nutritional value of chicory products, thereby augmenting the market’s growth.
The vendor landscape of the chicory market is anticipated to be highly competitive due to the development of new products. Extensive applications in the pharmaceutical and food and beverages industry has also intensified the competition in the chicory market. Moreover, players are also capitalizing on recent announcement by the Food and Drugs Administration regarding the inclusion of chicory roots fibers in the list of approved dietary edible fibers.
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On the regional front, Europe is anticipated to dominate the global chicory market. The growth in this region is attributable to the growing food and drugs industry and soaring demand for chicory products from countries such as the Netherlands, Belgium, and France. Rising demand for inulin in pharmaceutical industry has also promoted the market’s growth.