As per the latest report by IMARC Group, titled “Licorice Extract Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on licorice extract market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global licorice extract market size reached a value of US$ 1,810 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 2,439 Million by 2027, exhibiting at a CAGR of 4.40% during 2022-2027.
Licorice extract is made from the roots of the Glycyrrhiza glabra licorice plant. It has a pleasant taste and an aromatic flavour. It has anti-inflammatory, antioxidant, and antibacterial characteristics that help cure conditions like heartburn, acid reflux, hot flashes, coughs, and bacterial and viral infections. In the pharmaceutical, cosmetics, and food and beverage industries, it has a wide range of applications.
Global Licorice Extract Industry Trends and Drivers:
The global market is primarily driven by consumers’ growing health consciousness. In addition, increased rates of diabetes, toothaches, asthma, celiac disease, and skin infections are boosting market growth. Furthermore, rising product demand in the pharmaceutical business is contributing considerably to global market growth.
Moreover, significant growth in the food and beverage industry has also created a positive outlook for the market since there has been an increasing demand for licorice extract as a food additive or natural sweetener in candies and custard.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Licorice Extract Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Alfarid Corporation Limited, AOS Products Pvt. Ltd., Avestia Pharma, C.E. Roeper GmbH, F&C Licorice Ltd., Herbochem, Hyundai Bioland, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co. Ltd., Norevo GmbH, Shaanxi FUJIE Pharmaceutical Co. Ltd. and VPL Chemicals Pvt Ltd.
The report has segmented the market on the basis of region, product type, form and application.
Breakup by Product Type:
- Food Grade
- Feed Grade
- Pharmaceutical Grade
Breakup by Form:
Breakup by Application:
- Food and Beverages
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.