United Kingdom: Chicory Market 2023

Chicory Market Size in the UK

In 2021, the UK chicory market increased by 302% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption continues to indicate a significant expansion. Chicory consumption peaked in 2021 and is likely to see gradual growth in the near future.

Chicory Production in the UK

In value terms, chicory production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. Chicory production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Chicory Exports

Exports from the UK

In 2021, after two years of growth, there was significant decline in overseas shipments of chicory, when their volume decreased by -28.5% to X tons. In general, exports saw a sharp curtailment. The pace of growth was the most pronounced in 2013 with an increase of 87%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, chicory exports rose notably to $X in 2021. Over the period under review, exports recorded a dramatic slump. The growth pace was the most rapid in 2013 with an increase of 43%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Poland (X kg) was the main destination for chicory exports from the UK, accounting for a 56% share of total exports. Moreover, chicory exports to Poland exceeded the volume sent to the second major destination, Spain (X kg), fourfold. The United States (X kg) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Poland stood at -11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-34.9% per year) and the United States (0.0% per year).

In value terms, Poland ($X), the United States ($X) and Denmark ($X) constituted the largest markets for chicory exported from the UK worldwide, with a combined 81% share of total exports.

In terms of the main countries of destination, Denmark, with a CAGR of +47.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chicory export price stood at $X per ton in 2021, with an increase of 55% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by 73% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Iceland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+113.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chicory Imports

Imports into the UK

For the third year in a row, the UK recorded growth in supplies from abroad of chicory, which increased by 3,174% to X tons in 2021. In general, imports posted a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, chicory imports surged to $X in 2021. Over the period under review, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons) and France (X tons) were the main suppliers of chicory imports to the UK.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +242.4%).

In value terms, France ($X) and the Netherlands ($X) were the largest chicory suppliers to the UK.

In terms of the main suppliers, the Netherlands, with a CAGR of +99.3%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the average chicory import price amounted to $X per ton, waning by -47.5% against the previous year. In general, the import price recorded a dramatic curtailment. The pace of growth was the most pronounced in 2013 when the average import price increased by 38%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for the Netherlands amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-18.4%).

Source: IndexBox Platform

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