Philippines Chicory Market | Analysis, Companies, Revenue, Size, Share, Trends, Industry, Forecast, Growth, COVID-19 IMPACT & Value

Philippines Chicory Market Synopsis

The chicory market in Philippines is expected to reach a value of around US$ 9 million, growing at an estimated CAGR of 4.9%. The increasing popularity of chicory coffee or ?dandelion? coffee due to its caffeine-free nature and purported health benefits such as weight loss and better digestive function is driving up demand for this product across the country. In addition, awareness about healthy lifestyle choices coupled with changing consumer preferences towards natural ingredients-based drinks has further boosted sales over recent years. Moreover, chicory can be used as a substitute for cocoa powder owing to its similar flavor profile which has positively impacted growth prospects for this industry.

Drivers of the market

The Philippines chicory market is driven by various factors that contribute to its growth and significance. Chicory is known for its potential health benefits, particularly as a source of inulin, a prebiotic fiber. As consumers become more health-conscious, the demand for functional foods and ingredients like chicory is on the rise. Additionally, chicory`s use as a coffee substitute or additive has gained attention, further expanding its market presence. The cultivation of chicory is relatively adaptable, making it suitable for various regions and contributing to its availability. Chicory`s bitter flavor profile also appeals to consumers seeking unique taste experiences. The market`s growth is further supported by the increasing focus on local and sustainable agricultural practices.

Challenges of the market

The Philippines chicory market faces specific challenges related to consumer awareness and cultivation practices. Chicory, often used as a coffee substitute or additive, may have a limited consumer base due to cultural preferences for traditional coffee and beverages. Promoting the health benefits of chicory, such as its potential as a prebiotic and digestive aid, requires targeted marketing and education efforts. Moreover, chicory cultivation requires specific growing conditions and expertise, and adverse weather events or agricultural pests can impact yields. Developing a stable supply chain for chicory roots and effectively communicating its uses and benefits are key challenges in this market.

Covid-19 Impact of the market

The Philippines chicory market experienced a mix of challenges and adaptations due to the COVID-19 pandemic. With shifts in consumer behavior and disruptions in supply chains, the demand for chicory products faced fluctuations. The closure of cafes and restaurants affected the demand for chicory coffee substitutes, which are often consumed outside the home. However, the increased focus on healthy living and home-based consumption led to a surge in demand for chicory products as dietary supplements and ingredients. Players in the chicory market had to adjust their strategies to tap into the retail sector, highlighting the health benefits and versatility of chicory-based products. Ensuring the supply of chicory root, often used as an ingredient, posed challenges due to sourcing difficulties. The Philippines chicory market responded by adapting to changing consumer preferences, enhancing distribution channels, and ensuring a steady supply of products that align with the needs of health-conscious consumers.

Key Players of the market

Key players in the Philippines chicory market contribute to producing this versatile root vegetable used in various food and beverage applications. Companies like ChicoryHarvest Farms, RootCrafters Inc., and NutriChicory Producers are influential in cultivating and supplying chicory, which is valued for its bitter flavor and potential health benefits.

Key Highlights of the Report:

• Philippines Chicory Market Outlook
• Market Size of Philippines Chicory Market, 2023
• Forecast of Philippines Chicory Market, 2030
• Historical Data and Forecast of Philippines Chicory Revenues & Volume for the Period 2020-2030
• Philippines Chicory Market Trend Evolution
• Philippines Chicory Market Drivers and Challenges
• Philippines Chicory Price Trends
• Philippines Chicory Porter's Five Forces
• Philippines Chicory Industry Life Cycle
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Extracts for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Roasted for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Instant Powder for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Flour for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Form for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Powder for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Liquid for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Cubes for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Other forms for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Application for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Food & beverages for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Dietary supplements for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Feed & pet food for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Cosmetics & personal care for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Plant-part for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Root for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Leaf for the Period 2020-2030
• Historical Data and Forecast of Philippines Chicory Market Revenues & Volume By Other plant-parts for the Period 2020-2030
• Philippines Chicory Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Form
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Plant-part
• Philippines Chicory Top Companies Market Share
• Philippines Chicory Competitive Benchmarking By Technical and Operational Parameters
• Philippines Chicory Company Profiles
• Philippines Chicory Key Strategic Recommendations