Global Chicory Root Fibre Market is Expected to be Aided by the Growing Health Consciousness in the Forecast Period of 2021-2026

The new report by Expert Market Research titled, ‘Global Chicory Root Fibre Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global chicory root fibre market, assessing the market based on its segments like nature, forms, applications, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.

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The key highlights of the report include:

Market Overview (2021-2026)

• Forecast CAGR (2021-2026 ): 4.5%
• Forecast Market Size (2026): USD 278 million

The rising demand for fibre-rich food due to increasing health consciousness and the prevalence of digestive disorders are the key drivers of the global chicory root fibre market. The growing awareness for benefits of dietary fibre and prebiotics in digestive health is positively pushing the industry further.  Additionally, the growing demand for vegan labelled food is also aiding the growth of the market.  Other factors, such as growing incidents of diabetes and obesity, increasing disposable incomes, and expanding distribution networks, are contributing factors towards the industry growth.

Industry Definition and Major Segments

Chicory root fibre is a soluble dietary fibre, extracted from chicory root. It is prebiotic, high in insulin, and has numerous digestive health benefits. It stimulates the absorption of calcium, thus, improves bone heath. It also helps in body weight management by replacing fats and sugar and, thus, is an important ingredient for various industries.

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By nature, the market is divided into:

• Organic
• Conventional

Based on form, the industry is segmented into:

• Powder
• Solid

By application, the market is divided into:

• Food and Beverages
  • Bakery and Confectionery
  • Breakfast Cereals
  • Dairy and Frozen Products
  • Beverages
  • Others
• Pharmaceuticals
• Dietary Supplements
• Others

By distribution channel, the industry is segmented into:

• Direct Sale
• Indirect Sale

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On the basis of regional markets, the industry is divided into:

1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others

Market Trends

Regionally, North America and Europe are important players in the global chicory root fibre market. This is attributed to the shift towards a healthier lifestyle and subsequently growing demand for prebiotics and dietary fibre. The demand for functional food and the growing trend of plant-based ingredients due to the rising health awareness is resulting in the increasing demand for chicory root fibre. Moreover, the booming pharmaceutical industry is also expected to provide growth opportunities for this industry.

Key Market Players

The major players in the market are Cargill Incorporated, Royal Cosun Group, Beneo GmbH, Xi’an Rainbow Biotech Co., Ltd, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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