Global Licorice Extracts Market: By Grade (Food Grade, Pharmaceutical Grade, Feed Grade), ByForm (Liquid, Powder), By Disease Indication (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Pulmonary Arterial Hypertension, Others), By Application (Food and Beverage, Pharmaceutical, Cosmetics, Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Global licorice extracts market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024.
Market Outline: Licorice Extracts Market
Licorice is root of glycyrrhiza glabra. The licorice extracts are used as herbal medicine due to its medicinal properties. The licorice extracts are also used as the sweeteners and flavoring agents in the food and beverage industry.
Market Dynamics: Licorice Extracts Market
Increase in the health consciousness among the people coupled with surge in the preference of consumers for organic products is expected to witness the growth of the market. The mounting use of licorice extract in various applications such as pharmaceutical industry, feed industry, and food and beverage industries are anticipated to increase the demand for global licorice market. The rising prevalence of various disorders such as diabetes and obesity is adding a scope for the further growth of the market. The surge in research and development activities are expected to provide lucrative opportunities for the manufacturers. However, the lack of availability and increase in the cost of raw materials are expected to hamper the growth of the licorice extracts market.
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Market Scope: Licorice Extracts Market
Licorice extracts market is segmented based on the grade, form, and application
Based on the grade, the market is segmented into the following:
- Food Grade
- Pharmaceutical Grade
- Feed Grade
Based on the form, the market is segmented into the following:
Based on the applications, the market is segmented into the following:
- Food and Beverage
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Regional Analysis: Licorice Extracts Market
Geographically, global licorice extracts market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe licorice extracts market holds the largest share. Germany licorice market dominate the regional revenue share followed by The United Kingdom and Italy. The Asia Pacific holds the second position in the licorice extracts market owing to its emerging economies such as China. Japan and India. In China, the application of licorice is used in various applications such as ulcer treatment, enhance the immune system by naturally boosting inferno levels. North America is another thriving market for licorice extracts due to its increase in the adoption of the natural ingredients and rising demand for the herbal medicines. Used as a flavoring agent in cigarettes is expected to have a notable impact on growth of the licorice extracts market.
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Competition Assessment: Licorice Extracts Market
Some of the players in the global licorice extracts market include:
- Alfarid Corporation (Pakistan)
- SepidanOsareh Co (Iran)
- Maruzen Pharmaceuticals Co. Ltd (Japan)
- Nutra Green (China)
- Mafco Worldwide LLC (U.S)
- Norevo GmbH (Germany)
- ASEH Licorice MFG & Exp. Co (Iran)
- F&C Licorice Ltd (Israel)
- Zelang Group (China)
- Aushadhi Herba (India)
- VPL Chemicals PVT Ltd (India)
- Ransom Naturals Ltd (UK)
Notable Market Developments: Licorice Extracts Market
- In June 2017, Fini Sweets has launched black licorice, its premium licorice.
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