Global Licorice Extract Market Size and Trends: Analyzing the Landscape for 2028

 

A comprehensive industry overview and market perspective are included in the latest study from MarkNtel Advisors titled Global Licorice Extract Market. The research provides a detailed overview of the current market state, including market trends and the most recent advancements made globally. In-depth analysis of market size, share, industry trends, forecast, and competitive environment is covered in the report that presents clear picture of the market with relevant statistical data.

The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.

Global Licorice Extract Market Definition:

Licorice also known as ‘liquorice’ is defined as a sweet-flavored root of the Glycyrrhize glabra plant. This plant’s root is used as a flavoring agent in many of the food products, such as candies, confectionery & bakery products, etc. as well as in medicines. It is the native to North Africa, Western Asia, and Southern Europe.

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Global Licorice Extract Market Insights:

The Global Licorice Extract Market size is valued at around USD 2.12 billion in 2022 & is estimated to grow at a CAGR of about 5.2% during the forecast period, i.e., 2023-28.

Global Licorice Extract Market Challenge:

Decline in the Production of Tobacco & Its Industry to Hinder the Market Growth – As the world is advancing, individuals are getting more & more concerned about their health & are avoiding to intake anything that could harm their health. One such thing is tobacco, which is considered to be one of the deadliest things if consumed on a regular basis. Thus, the rising awareness regarding consuming tobacco is aiding in declining the production of tobacco, eventually creating a challenge for the Global Licorice Extract Market expansion, as this extract is widely used in tobacco for flavor & taste & contributes to the total market share.

Global Licorice Extract Market Leading Key Players:

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., VPL Chemicals Pvt Ltd. , Beijing Gingko Group , Glycyrrhiza Glabra Co. Ltd., Ransom Naturals Ltd., Others

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Global Licorice Extract Market Segmentation:

Based on Product Type

- Food Grade- Market Size & Forecast 2018-2028, USD Million

- Feed Grade- Market Size & Forecast 2018-2028, USD Million

- Pharmaceutical Grade- Market Size & Forecast 2018-2028, USD Million

Based on Form

- Powder- Market Size & Forecast 2018-2028, USD Million

- Liquid- Market Size & Forecast 2018-2028, USD Million

- Block- Market Size & Forecast 2018-2028, USD Million

Based on End Users

- Food & Beverages- Market Size & Forecast 2018-2028, USD Million

- Pharmaceutical- Market Size & Forecast 2018-2028, USD Million

- Tobacco- Market Size & Forecast 2018-2028, USD Million

- Others- Market Size & Forecast 2018-2028, USD Million

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Global Licorice Extract Market Geographical Analysis

By Region

- North America

- South America

- Europe

- The Middle East & Africa

- Asia-Pacific

Recent Development of Global Licorice Extract Market:

July 2022: Givaudan, Bühler, and Cargill partnered with the FoodTech HUB Latam & ITAL, Food Technology Institute, to construct a food innovation center in the city of Campinas, recognized as Brazil's tech powerhouse.

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About Us:

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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