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According to our LPI (LP Information) latest study, the global Licorice Extract market size was valued at US$ 851.1 million in 2023. With growing demand in downstream market, the Licorice Extract is forecast to a readjusted size of US$ 820.7 million by 2030 with a CAGR of -0.5% during review period.
The research report highlights the growth potential of the global Licorice Extract market. Licorice Extract are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Licorice Extract. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Licorice Extract market.
Licorice extract comes from the licorice plant. The root of the plant is primarily used in preparing the extract, and the hard woody plant is pulped then boiled to further extract and refine the contents.
Licorice extract is a natural ingredient often found in both food and herbal medicine supplements. While the full medicinal effectiveness of licorice has not been completely tested, some benefits have been proven and others have enough support to warrant its inclusion in a number of supplements. Often found in teas and used in a number of different products as a flavoring ingredient, licorice extract can provide help in treating stomach issues such as heartburn, but does have some noteworthy side effects that should be considered.
Global Licorice Extract key players include Magnasweet, ASEH, Zagros Licorice, Sepidan Osareh, Norevo GmbH, etc. Global top five players hold a share about 25%.
Europe is the largest market, with a share about 20%, followed by China and Japan, having a total share about 25 percent.
In terms of product, Food Gradeis the largest segment, with a share about 55%. And in terms of application, the largest application is Food Industry, followed by Pharmaceutical Industry, Cosmetic Industry, etc.
Key Features:
The report on Licorice Extract market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Licorice Extract market. It may include historical data, market Segmentation by Type (e.g., Pharmaceutical Grade, Food Grade), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Licorice Extract market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Licorice Extract market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Licorice Extract industry. This include advancements in Licorice Extract technology, Licorice Extract new entrants, Licorice Extract new investment, and other innovations that are shaping the future of Licorice Extract.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Licorice Extract market. It includes factors influencing customer ' purchasing decisions, preferences for Licorice Extract product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Licorice Extract market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Licorice Extract market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Licorice Extract market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Licorice Extract industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Licorice Extract market.
Market Segmentation:
Licorice Extract market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
- Pharmaceutical Grade
- Food Grade
- Feed Grade
Segmentation by application
- Pharmaceutical
- Food
- Cosmetic
- Others
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Magnasweet
- ASEH
- Zagros Licorice
- Sepidan Osareh
- FandC Licorice
- Norevo GmbH
- Ransom Naturals
- Maruzen Pharmaceuticals
- MCFS
- Aushadhi Herbal
- Avestia Pharma
- VPL Chemicals
- Zelang
- Changyue
- Bokai
Key Questions Addressed in this Report
What is the 10-year outlook for the global Licorice Extract market?
What factors are driving Licorice Extract market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Licorice Extract market opportunities vary by end market size?
How does Licorice Extract break out type, application?