Global Ground Chicory Market 2018-2022
About Ground Chicory
Chicory is a woody and herbaceous plant native to Europe, but currently, it is widely grown in North America, China, and Australia as well. Chicory root in a processed form is highly nutritious and finds application as salad dressings, dietary supplements, and beverage additives. The most common application of chicory is the usage of its products as a substitute for coffee.
Technavio’s analysts forecast the global ground chicory market to grow at a CAGR of 6.80% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global ground chicory market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ground Chicory Market 2018-2022
Technavio recognizes the following companies as the key players in the global ground chicory market: COSUCRA, Leroux, Reily Foods Company, Royal Cosun, and Südzucker.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing influence of online retailing. The increasing popularity of e-commerce businesses worldwide has provided vendors with an opportunity to enhance their profit margins and revenues. E-commerce accounted for nearly 12% of the global retail trade in 2016. Online and e-commerce channels support both business-to-consumer (B2C) and business-to-business (B2B) operations.”
According to the report, one driver in the market is growing influence of organized retailing. Organized retailers have grown worldwide with the establishment of supermarkets, hypermarkets, and specialty stores. Ready-to-eat packaged food and beverages are primarily sold by large organized retailers, as vendors in the market are highly dependent on large organized retailers.
Further, the report states that one challenge in the market is increasing demand and consumption of cold beverages. The growing popularity of cold beverages such as soft drinks, carbonated drinks, nutritional and energy drinks, iced tea, and cold coffee has been the major challenge for the global ground chicory market over the past decade. Besides, with the advent of energy drinks like Stokely-Van Camp's Gatorade and RED BULL, the consumption of ground chicory-based hot drinks have seen a slight decline in several developed markets across the world.
COSUCRA, Leroux, Reily Foods Company, Royal Cosun, and Südzucker.
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