Licorice Extract Market: Notable Developments, Up-to-date Key Trends & Drivers & Geographical Outlook-2022-2027
Licorice extract is derived from licorice root which is widely used as a medicinal herbs across the globe. The extract is produced by boiling licorice root and subsequently evaporating most of the water. It is a natural ingredient which is available in liquid or powdered root form.
Traditionally, licorice was used as an herbal medicine in
China bit now it is used by the tobacco industry and also widely used as a
flavoring agent by the various food and beverages industry such as in tea,
confectionary and others. Increasing demand for plant based natural sweetener
and flavor is expected to support the licorice extract market growth during the
forecast period.
Licorice Extract
Market Segmentation
Licorice extract is segmented on the basis of application
which includes food industry, pharmaceutical industry, feed industry cosmetic
industry and others. Among all these segment pharmaceutical industry is
expected to represent major value share during the forecast period.
Increased medicinal usage of licorice extract coupled with
rising opportunities of licorice extract in prevention of cancer is expected to
drive the segment growth over the forecast period. Food industry is expected to
represent favorable growth in licorice extract market in the near future.
Increasing application of licorice extract in beverages and confectionery
products due to its natural sweetener property is expected to support the
segment growth in licorice extract market.
Licorice extract market is further segmented on the basis of
grade which includes pharmaceutical grade, food grade and feed grade. Due to
increasing application and rising opportunities regarding the usage of licorice
extract by the pharmaceutical industry is expected to support the segment
growth over the forecast period.
Food grade licorice extract is expected to represent
substantial share in terms of value in the near future. Increasing usage of
licorice extract by the food industry due to rising demand for the consumption
of natural ingredient is expected to support the segment growth over the
forecast period.
Licorice Extract
Regional Analysis
Licorice extract market is segmented on the basis of region
which includes North America, Latin America, Western Europe, Eastern Europe,
Asia Pacific excluding Japan, Middle East & Africa and Japan.
Geographically, Europe is expected to be one of the largest market in terms of
value for licorice extract, owing to increasing consumer shifting preference
towards consumption of natural and plant based ingredients.
Moreover, in European countries Licorice is increasingly
being used to produce Mono Ammonium Glycyrrhizinate (MAG), which is used as a
masking agent in products sweetened by stevia which is further expected to
support the market growth in the region. Among the countries, Germany is
expected to remain major markets in terms of consumptions for licorice extract
followed by U.K. and Italy.
In Europe, Germany was the largest importer of licorice in
the year 2015.Asia Pacific is expected to represent favorable growth in terms
of value over the forecast period. In the region China is the largest producer
of licorice followed by other central Asian countries.
Increasing demand for plant based natural ingredient
especially in developed economies of Europe and North America is expected
support market growth over the forecast period. In addition, increasing usage
of licorice extract in pharmaceutical industry for manufacturing of herbal medicine
and preventing from cancer treatment is further expected to fuel the market
growth over the forecast period. However, continuous rise in price of licorice
due to raw material shortage may restrain the market growth in the near future.
Key Players
Some of the key players operating in licorice extract market
includes MAFCO Worldwide LLC, Norevo GmbH, F&C Licorice, Ransom Naturals,
Zagros Licorice, Aushadhi Herba, Sepidan Osareh and VPL Chemicals among others.
The report covers
exhaustive analysis on
- Licorice
Extract Market Segments
- Licorice
Extract Market Dynamics
- Licorice
Extract Historical Actual Market Size, 2012 - 2014
- Licorice
Extract Market Size & Forecast 2015 to 2025
- Licorice
Extract Supply & Demand Value Chain
- Licorice
Extract Market Current Trends/Issues/Challenges
- Competition
& Companies involved
- Licorice
Extract Technology
- Value
Chain
- Licorice
Extract Market Drivers and Restraints
Regional analysis for Licorice Extract Market
includes
- North America
o
US & Canada
- Latin America
o
Brazil, Mexico, Others
- Western Europe
o
EU5
o
Nordics
o
Benelux
- Eastern Europe
o
Russia
o
Poland
o
Rest of Eastern Europe
- Asia Pacific
o
Australia and New Zealand (ANZ)
o
Greater China
o
India
o
ASEAN
o
Rest of Asia Pacific
- Japan
- Middle East and Africa
o
GCC Countries
o
Other Middle East
o
North Africa
o
South Africa
o
Other Africa
The report is a compilation of first-hand
information, qualitative and quantitative assessment by industry analysts,
inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic
indicators and governing factors along with market attractiveness as per
segments. The report also maps the qualitative impact of various market factors
on market segments and geographies.
Main Report Link: https://www.futuremarketinsights.com/reports/licorice-extract-market
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