About Licorice Extract
Licorice Extract has a sweet, aromatic flavouring which is extracted through Licorice or Glycyrrhiza glabra plant. The licorice flowering plant belongs to the bean family Fabaceae. The roots of Licorice are being used a popular medicative herb for hundreds of years. Licorice has compounds which possess excellent antiviral and antimicrobial properties. This is the reason the herb is effective against various diseases such as skin inflation, hepatitis C, tooth decay, stomach and gut problems among other major diseases. Increasing consciousness about health and growing popularity of natural herbs and ingredients has stimulated a growth in the licorice market. Several applications in processed food and beverages as well as pharmaceuticals too has had a positive effect on the market of licorice extract. Although, consumption of large doses of licorice may have serious implications on body as even noted by Food and drugs administration, USA. Such results may hamper the growth prospectus of the licorice market. Currently, Europe is expected to emerge as the leading market of licorice extract.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.2% |
Increasing patients of major diseases such as stomach and gut problems, hepatitis C, inflation, skin problems, sore throat, etc. combined with growing popularity of natural herbs, and ingredients has led to the exponential growth of the licorice extract market over the last few years. Although health problems associated with over consumption of the licorice hampers its growth opportunities. Europe is currently expected to emerge as the leading market of licorice extract. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Licorice Extract market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Norevo GmbH (Germany), Zagros Licorice Co. (Iran), F and C Licorice Ltd. (Israel), MAFCO Worldwide LLC (United States), VPL Chemicals Private Limited (India), Naturex SA (France), C.E. Roeper GmbH (Germany), Maruzen Pharmaceuticals Co., Ltd (Japan), Shaanxi Fujie Pharmaceutical Co, Ltd (China) and HB Natural Ingredients (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Sanat Products Limited (India), Glycyrrhiza Glabra Co, Ltd. (Uzbekistan) and Aseh Co. (Iran).
Segmentation Overview
AMA Research has segmented the market of Global Licorice Extract market by Type (Food Grade and Pharmaceutical Grade), Application (Food and Beverages, Cosmetics and Personal Care, Dietary Supplements, Tobacco Products and Other Applications) and Region.
On the basis of geography, the market of Licorice Extract has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Direct will boost the Licorice Extract market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Powder will boost the Licorice Extract market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Dietary Supplements Share Huge Popularity
Market Growth Drivers:
Rising Prevalence of Diseases such as Diabetes, Inflation, Digestion Problems among Others and Growing Consciousness about Benefits for Natural Sourced Ingredients on Health
Challenges:
Large Consumption of Licorice extract is Associated with Several Serious Medical Problems such as Irregular Heart Rhythm which may Hamper the Growth Prospectus
Restraints:
Presence of Adulterated Products in Market
Opportunities:
Cosmetics and Personal Care is a Rapidly Expanding Market due to Growing Consciousness about Appearance and Increasing Disposable Incomes
Market Leaders and their expansionary development strategies
In December 2019, Merisant Company and MAFCO Worldwide LLC announced a formal business combination. Merisant and MAFCO are operating subsidiaries of Flavors Holdings Inc., which is controlled by MacAndrews & Forbes Incorporated affiliates. Act II will merge with the companies of Merisant, MAFCO, and certain of their subsidiaries, subject to the terms and circumstances contained in the Purchase and Sale agreement.
In 2021, Mafco launched new category-specific, multi-tasking Magna-Brand products that find today's most challenging products. They have launched their latest multi-tasking Magna-Brand products that, by selective compounding, are some of the most productive and cost-effective for Taste Modulation.
Key Target Audience
Licorice Extract Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.