Global Chicory Market to Reach 723K Tons and $1B by 2030

IndexBox has just published a new report: World - Chicory - Market Analysis, Forecast, Size, Trends and Insights.

The article discusses the projected growth of the global chicory market, with an expected CAGR of +3.4% in volume and +5.4% in value from 2024 to 2030. This growth is fueled by rising demand for chicory worldwide, leading to an acceleration in market performance. By the end of 2030, the market is forecasted to see a significant increase in both volume and value, highlighting the opportunities in the chicory market.

Market Forecast

Driven by increasing demand for chicory worldwide, the market is expected to continue an upward consumption trend over the next six-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.4% for the period from 2024 to 2030, which is projected to bring the market volume to 723K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2024 to 2030, which is projected to bring the market value to $1B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Chicory

In 2024, the amount of chicory consumed worldwide amounted to 591K tons, approximately mirroring 2023 figures. The total consumption volume increased at an average annual rate of +1.9% from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 6.5%. Over the period under review, global consumption attained the peak volume at 604K tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The global chicory market size expanded modestly to $757M in 2024, growing by 3.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a buoyant expansion. Over the period under review, the global market hit record highs at $781M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of chicory consumption was Belgium (452K tons), comprising approx. 76% of total volume. Moreover, chicory consumption in Belgium exceeded the figures recorded by the second-largest consumer, the Netherlands (58K tons), eightfold. France (16K tons) ranked third in terms of total consumption with a 2.8% share.

In Belgium, chicory consumption increased at an average annual rate of +4.8% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: the Netherlands (+0.2% per year) and France (-14.0% per year).

In value terms, Belgium ($505M) led the market, alone. The second position in the ranking was held by the Netherlands ($65M). It was followed by Poland.

From 2013 to 2024, the average annual growth rate of value in Belgium amounted to +6.8%. In the other countries, the average annual rates were as follows: the Netherlands (+2.1% per year) and Poland (-3.6% per year).

In 2024, the highest levels of chicory per capita consumption was registered in Belgium (39 kg per person), followed by the Netherlands (3.3 kg per person), Poland (0.4 kg per person) and France (0.2 kg per person), while the world average per capita consumption of chicory was estimated at 0.1 kg per person.

In Belgium, chicory per capita consumption expanded at an average annual rate of +4.4% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the Netherlands (-0.2% per year) and Poland (-4.3% per year).

Production

World Production of Chicory

In 2024, approx. 596K tons of chicory were produced worldwide; growing by 1.6% compared with 2023. The total output volume increased at an average annual rate of +2.0% from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 7.9%. Over the period under review, global production attained the maximum volume at 607K tons in 2022; however, from 2023 to 2024, production remained at a lower figure. The general positive trend in terms output was largely conditioned by notable growth of the harvested area and a tangible increase in yield figures.

In value terms, chicory production amounted to $776M in 2024 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 24% against the previous year. Global production peaked at $805M in 2022; however, from 2023 to 2024, production failed to regain momentum.

Production By Country

Belgium (454K tons) remains the largest chicory producing country worldwide, comprising approx. 76% of total volume. Moreover, chicory production in Belgium exceeded the figures recorded by the second-largest producer, the Netherlands (58K tons), eightfold. France (23K tons) ranked third in terms of total production with a 3.8% share.

From 2013 to 2024, the average annual growth rate of volume in Belgium totaled +4.9%. In the other countries, the average annual rates were as follows: the Netherlands (+0.1% per year) and France (-11.6% per year).

Yield

The global average chicory yield fell modestly to 38 tons per ha in 2024, reducing by -3.3% compared with the previous year's figure. The yield figure increased at an average annual rate of +2.5% from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2014 with an increase of 13% against the previous year. Over the period under review, the average chicory yield attained the peak level at 39 tons per ha in 2023, and then shrank modestly in the following year.

Harvested Area

The global chicory harvested area expanded remarkably to 16K ha in 2024, rising by 5.1% against the year before. Over the period under review, the harvested area, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 9.4% against the previous year. Over the period under review, the harvested area dedicated to chicory production reached the peak figure at 17K ha in 2013; however, from 2014 to 2024, the harvested area failed to regain momentum.

Imports

World Imports of Chicory

After five years of growth, overseas purchases of chicory decreased by -7.7% to 12K tons in 2024. Over the period under review, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2014 when imports increased by 60%. Global imports peaked at 13K tons in 2023, and then fell in the following year.

In value terms, chicory imports declined to $18M in 2024. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 52% against the previous year. Over the period under review, global imports attained the peak figure at $19M in 2023, and then contracted in the following year.

Imports By Country

The countries with the highest levels of chicory imports in 2024 were Yemen (1.5K tons), the United States (1.4K tons), the UK (1.3K tons), Austria (1.2K tons), Russia (1K tons), the Netherlands (1K tons), Switzerland (0.7K tons), Germany (0.7K tons) and Hungary (0.6K tons), together reaching 75% of total import. Australia (374 tons) followed a long way behind the leaders.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Russia (with a CAGR of +191.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the UK ($1.8M), the United States ($1.8M) and the Netherlands ($1.6M) were the countries with the highest levels of imports in 2024, together accounting for 29% of global imports. Switzerland, Russia, Germany, Austria, Hungary, Australia and Yemen lagged somewhat behind, together accounting for a further 33%.

In terms of the main importing countries, Hungary, with a CAGR of +130.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the average chicory import price amounted to $1,436 per ton, with an increase of 2.2% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 26%. Over the period under review, average import prices hit record highs at $1,441 per ton in 2013; however, from 2014 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Switzerland ($1,755 per ton), while Yemen ($263 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Hungary (+8.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Chicory

In 2024, approx. 18K tons of chicory were exported worldwide; increasing by 2.5% on 2023. Overall, exports posted a buoyant expansion. The growth pace was the most rapid in 2015 when exports increased by 226%. Over the period under review, the global exports hit record highs at 23K tons in 2017; however, from 2018 to 2024, the exports remained at a lower figure.

In value terms, chicory exports expanded rapidly to $25M in 2024. In general, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 85% against the previous year. Over the period under review, the global exports attained the maximum in 2024 and are expected to retain growth in years to come.

Exports By Country

France was the key exporting country with an export of around 6.5K tons, which resulted at 37% of total exports. India (3K tons) ranks second in terms of the total exports with a 17% share, followed by Poland (17%), Hungary (13%) and Belgium (10%). The following exporters - the Netherlands (404 tons) and Sudan (283 tons) - each reached a 3.9% share of total exports.

From 2013 to 2024, average annual rates of growth with regard to chicory exports from France stood at +7.5%. At the same time, Hungary (+370.6%), Belgium (+166.6%), India (+27.1%), Poland (+9.4%) and Sudan (+4.2%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in the world, with a CAGR of +370.6% from 2013-2024. The Netherlands experienced a relatively flat trend pattern. From 2013 to 2024, the share of India, Hungary and Belgium increased by +13, +13 and +10 percentage points, respectively.

In value terms, the largest chicory supplying countries worldwide were Hungary ($7.9M), France ($5M) and Poland ($4M), with a combined 69% share of global exports.

In terms of the main exporting countries, Hungary, with a CAGR of +290.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average chicory export price stood at $1,407 per ton in 2024, rising by 5.5% against the previous year. Overall, the export price enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2020 an increase of 39%. The global export price peaked in 2024 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Hungary ($3,513 per ton), while Sudan ($704 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by France (+17.9%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform