Licorice Extract Market Comprehensive Shares, Historical Trends And Forecast by 2027

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Licorice Extract Market

The extract is collected from the licorice root can be used in medicines, food, and cosmetics. It is also known as Glycyrrhiza glabra. Licorice has benefits like reducing inflammation, cough, and increase body ability, but the excess of licorice can cause adverse effects. The licorice has an antioxidative agent that can help in reducing the risk of diseases like colorectal cancer, chronic bronchitis, and other chronic diseases. It is also used in tea that is considered as a safe means of consumption. It is considered to be consumed for the short term only if consumed for a long time can cause an imbalance in the body and can also increase the stress level.

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Market scope and structure analysis:

Report Metric Details
Market size available for years 2020–2027
Base year considered 2019
Forecast period 2021–2027
Forecast units Value ($US)
Segments covered Type, Application, Distribution Channel, and Region
Regions covered North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)
Companies covered Norevo Gmbh, F&C Licorice Ltd., Mafco Worldwide LLC., Zagros Licorice Co., SepidanOsareh Co., Zelang Group, Ransom Naturals Ltd., Maruzen Pharmaceuticals Co. Ltd., VPL Chemicals Pvt. Ltd.

COVID-19 Scenario Analysis:

  • COVID-19 has deeply affected the global licorice extract market.
  • There is a high demand for licorice extract as they are used in many products.
  • With the increase in demand, the companies are under great pressure as there is a disruption in the supply chain.
  • The lack of raw materials and lack of transportation has affected the distribution channels.
  • The retail stores are closed due to safety measures; only online stores are the means of supply.
  • The export and import are also has affected the logistic network.
  • The disruption in production, travel, and import-export has greatly affected the GDP of the world.

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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The licorice extract market is growing with the increase in the usage of licorice roots in different products. An increase in the sweetener in the food products can be a factor that contributes toward the growth of the global licorice extract market as licorice roots can be used as a sweetener in the beverages. However, the excess consumption can create a threat to the growth of the global licorice extract market. The rise in the prices of licorice extracts can also hamper the growth of the market.

The global licorice extract market trends are as follows:

  • Surge in awareness and shift in demand for organic products has increased the requirement of licorice extracts. The companies are now using licorice extracts than other conventional extracts in food & beverage products. Medical properties in licorice extracts also plays an important role in the products like desserts that can also consumed used by the people who are suffering from any cholesterol, obesity, and diabetes problem.
  • The companies are also using marketing methods like packaging and rebranding the products with name Licorice extract to attract the attention of the customers.

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Key Segments Covered:

Segments Sub-segments
Type
  • Blocks
  • Paste
  • Powder
Application
  • Pharmaceuticals
  • Tobacco
  • Food & beverages
  • Cosmetics
  • Others
Distribution Channel
  • Online
  • Offline

Key Benefits of the Report:

  • This study presents the analytical depiction of the global licorice extract industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global licorice extract market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global licorice extract market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global licorice extract market analysis based on competitive intensity and how the competition will take shape in coming years.

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