MarketResearch.biz delivers in-depth insights on the global licorice root market in its upcoming report titled, “Global Licorice Root Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global licorice root market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global licorice root market report has been segmented on the basis of product form, end-use industry, and region.
The liquorice or licorice plant is an herbaceous perennial legume. Licorice extracts are used in herbalism and traditional medicine. Licorice root is used to smoothen gastrointestinal problems. In cases of food poisoning, stomach ulcers, and heartburn, licorice root extract are used to repair stomach lining and restore balance. It is also recommended for treatment of respiratory problems.
Increasing demand for licorice root as a sweetener from candy and beverage manufacturing is a major factor driving growth of the global licorice root market. In addition, growing demand from pharmaceutical sector for medicinal preparation related to treatment of cough and asthma is another factor expected to support growth of the global licorice root market. In addition, growing preference for healthy tea among consumers resulting in manufacturers approach in production of herbal tea is among another factor expected to support growth of the global licorice root market.
However, high consumption of licorice root resulting in muscle weakness, which is a major factor expected to restraint growth of the global licorice root market. In addition, stringent government regulations related to product approval is another factor expected to challenge growth of the global licorice root market.
Technological advancements and increasing R&D activities by major players is expected to create new opportunities in terms of revenue for players operating in the global licorice root market over the forecast period.
The market in Asia Pacific is expected to dominate the global licorice root market in terms of revenue and is expected to continue its dominance over the forecast period. The dominance can be attributed to increasing demand from pharmaceutical industry and presence of major manufacturers operating in the countries in this region. The markets in North America and Europe is expected to contribute significant revenue shares to the global licorice root market. The market in Europe is expected to register faster growth, owing to increasing demand from food & beverage industry.
Global Licorice Root Market Segmentation:
By Product Form:
By End-use Industry:
- Food & Beverage Industry
- Tobacco Industry
- Healthcare & Pharmaceutical Industry
- Cosmetic Industry
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Mafco Worldwide Corporation
- NOREVO GmbH
- Alfarid Corporation Limited
- Maruzen Pharmaceuticals Co. Ltd.
- Beijing Gingko-Group Biological Technology Co. Ltd.
- Naturex SA
- Hepner & Eschenbrenner GmbH & Co. KG
- Fanavaran Tosee Sanat Gharb (FTS Co.)
- Green Agro Invest LLC
- Zagros Licorice co.
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