Market Leaders : BENEO GmbH and Sensus are the Key Players in the Chicory Market Focusing on Developing New Products and Expanding their Business to Strengthen their Market Position
The global chicory market size is estimated to be valued at USD 685 million in 2020 and is projected to reach USD 905 million by 2025, recording a CAGR of 5.7% during the forecast period. With the rising consumption of coffee beverage along with the rising prices of coffee beans and demand for organic and all-natural ingredient based products, the market for chicory is projected to witness a positive outlook, in the coming few years. Also, chicory is a cheaper substitute ingredient that has multiple applications across various industries. Owing to its caffeine-free and health benefitting characteristics, it has great potential to cater existing as well as newer application areas, with ongoing and continuous research. Thus, with all these factors accumulatively, the chicory market is expected to witness a substantial growth potential in the coming few years.
Key players in this market include Cosucra Groupe Warcoing (Belgium), Delecto Foods Pvt Ltd (India), BENEO GmbH (Germany), Sensus (Netherlands), Leroux (France), Cargill Incorporated (US), Reily Foods Company (US), Pioneer Chicory (India), PMV Nutrient Products Pvt Ltd (India), Farmvilla Food Industries Pvt Ltd (India), Murlikrishna Foods Pvt Ltd (India), Starwest Botanicals (US), STOKROS Company Ltd (Russia), Nature’s Gold Production (Netherlands), Organic Herb Trading Co (UK), Narasu’s Coffee Company (India), NP Nutra (US), Shaanxi Sciphar Natural Product Co Ltd. (China), Jamnagar Chicory Industries (India), and Herbs & Crops Overseas (India).
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BENEO GmbH is a global company catering to the dynamic demands and developments in the food and feed industry. It is a subsidiary company of Südzucker Group–one of the leading food producers in Europe. BENEO supplies food ingredients and caters to four broad segments: human nutrition, animal nutrition, pharmaceutical excipients, and intense sweetener. It offers a range of products derived from natural sources such as chicory roots, sugar beet, rice, and wheat. The company’s product portfolio is used in the following applications: baby food, bakery, cereals, beverages, confectionery, dairy, meat & vegetables, and soups & sauces under the human nutrition segment. The company’s products further cater to applications such as pet food, aquafeed, pig feed, ruminant feed, and poultry feed under the animal nutrition segment and tablets, powder blends, wet granulation, high boiled lozenge, pan coating, and syrup under the pharmaceutical excipients segment. It offers an array of chicory products through its human nutrition business segment under the functional fiber category. Its human nutrition business segment is further categorized into four categories: functional fibers, functional carbohydrates, specialty rice ingredients, and functional proteins. This company has a wide geographical presence across the European, Asia Pacific, and North American regions. Apart from that, the company owns several production sites located in Belgium, Germany, Italy, and Chile. The company utilizes chicory roots in the production of different range of a functional ingredient called inulin.
Sensus, a Netherlands-based company, is a manufacturer and distributor of innovative ingredients, which mainly includes chicory inulin and chicory oligofructose. Sensus is a subsidiary of Royal Cosun Group, an international developer, manufacturer, and supplier of natural food ingredients and products. The company has a wide geographic presence in over 45 countries along with strong geographical operations across regions including North America, South America, Africa, Europe, Australia & New Zealand, and Asia Pacific. It has its production facilities located in Roosendaal and Zwolle. Sensus largely caters to the manufacturers belonging to the dairy, bakery, breakfast cereal, cereal bars, infant nutrition, beverages, confectionery, ice cream, savory, and healthcare nutrition sectors. The company’s product portfolio includes prebiotic and soluble dietary fibers with texturizing properties and a pleasant taste that provide added health benefits. The company ideally contracts many local farmers for the procurement of raw material for further production. Sensus is constantly seeking new inulin applications, often in collaboration with its customers and business partners, accordingly, to develop, market, and cater healthier food ingredients and products in the market.
Related Reports:
Chicory Market by Product Type (Extracts, Roasted, Instant Powder, Flour), Form (Powder, Cubes, Liquid), Plant Part, Application (Food & Beverage, Dietary Supplement, Feed & Pet food, Cosmetics & Personal Care), and Region - Global Forecast to 2025
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