The global demand for Licorice Extract Market is presumed to reach the market size of nearly USD 10.98 MN by 2030 from USD 5.09 MN in 2022 with a CAGR of 8.92% under the study period 2023 - 2030.
Licorice extract is made from licorice roots, which are crushed and boiled. It has been used in traditional medicine to treat ulcers, as well as a sore throat or cough. It also has anti-inflammatory properties and can help with stomach ulcers. Licorice extract is a thick, dark liquid with a strong taste. It can be mixed into drinks or sprinkled on food to add flavour and medicinal benefits.
Market Dynamics
The licorice extract market is largely driven by its versatility in terms of taste, as well as its flavour. Licorice extract is a natural sweetener used in food and beverages. The market for licorice extract is driven by its rising demand in the food & beverage industry. The rising awareness about the medicinal properties of licorice extract is also driving the growth of this market. The demand from nutraceutical and pharmaceutical industries and the growing consumer base who seek natural products are expected to scale up the demand for this market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of licorice extract. The growth and trends of licorice extract industry provide a holistic approach to this study.
Market Segmentation
This section of the licorice extract market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Food Grade
- Feed Grade
- Pharmaceutical Grade
By Form
By Application
- Food & Beverages
- Pharmaceutical
- Tobacco
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Licorice Extract market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Licorice Extract Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the licorice extract market include BGG World, C.E. Roeper GmbH, F&C Licorice Ltd, Glycyrrhiza Glabra Co. Ltd, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co. Ltd, Norevo GmbH, Ransom Naturals, Shaanxi Fujie Pharmaceutical Co Ltd, and Zagros Licorice Co., ASEH, Sanat Products Limited, HB Natural Ingredients, Zelang Group, Sepidan Osareh Co., Vpl Chemicals Pvt. Ltd, Aushadhi Herbal. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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